Fractional Ownership News

Fractional market in Costa Rica picks up speed

Costa Rican developer Reve Orange says the country’s real estate market is picking up speed, with fractional real estate offering the best deals.

“The main attraction to Costa Rica relevant to investors and buyers falls upon the fact that Costa Rica has not had an army since the 1950's and thus the Costa Rican government has spent more efforts and taxes to be allocated for health care and education. Fast forward 60 years later and Costa Rica has built a world renowned health care system called CIMA that was ranked higher than the United States of America the last time WHO, the World Health Organization, ranked world healthcare by country. Costa Rica also boasts the highest literacy rate (95%) against any other Latin American country. Costa Rica is also home to only 1 of 5 Blue Zones which are areas defined by scientific data and studies that verifies a region having the most centurions (people who live to be 100 years or older) in a geographic area. Add Costa Rica as offering one of the most eco-diverse settings in the world with great year round weather and it is not difficult to understand why Costa Rica Real Estate is always in demand,” says the company.

Costa Rica typically structures property and real estate through corporations. If a two-bedroom villa has an appraised market value of $100,000 then it will be structured as a corporation that holds 100 shares. Each share will equate to $1,000 per share. Structuring real estate in such a manner saves buyers nearly 13% in taxes, while also allowing for ease of transferability of shares to beneficiaries.

Reve Orange says: “The best deals in Costa Rica are properties that offer fractional ownership because investors and buyers are able to buy real estate at a fraction of the actual value of the property. If a buyer desires to purchase .25% Fractional Ownership of the 2 bedroom villa, then they could buy the property owning 25% equity of the villa and paying only $25,000 if the total value and sales price is $100,000.”

Reve Orange is a condo development in Costa Rica's Blue Zone (roughly one hour northwest of San Jose), that offers both full and fractional ownership. “Architecturally designed by a world renowned New York firm, Dataumzero Design Office, Reve Orange uses a modern luxury interior and exterior design offering floating staircases, rooftop Jacuzzis and harmonium bay view windows that comprise of a wall of windows that are able to fold, allowing owners to be more immersed with the raw nature that encompasses the campus of Reve Orange,” says the company.

Reve Orange comprises 20 condo units and 5 penthouse condo units and has been awarded "One of the Best Eco Living and Luxury Developments in Costa Rica's Blue Zone" by International Real Estate Investments Magazine.

www.Reve-Orange.com

08/10/09
 

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