With more than two million visitors each year, Costa Rica is consistently one of the hottest vacation destinations in Central America. More and more people are considering retiring in Costa Rica. In this article we will find out why Costa Rica has become a retirement hot spot for expat retirees.
Why Costa Rica?
Along with the Caribbean and the Pacific, Costa Rica has Nicaragua to the North and Panama to the South. Costa Rica has numerous beaches, a year-round tropical climate, modern cities, rain forests and mountains. According to a 2012 Happy Planet index, it was named the happiest country in the world.
According to some reports, many of the expatriates that live in Costa Rica are retirees. This because Costa Rica can deliver an excellent quality of life along with very low costs of living. You will find luxury resorts and golf courses, galleries and fine dining. In addition to its natural beauty, Costa Rica attracts many expats with its convenience, welcoming attitude and slow pace of life. The country is quite stable and is committed to preserving and protecting their environment.
Healthcare in Costa Rica
The standard of the healthcare system in Costa Rica is one of the best throughout Latin America. There is a government healthcare system in addition to the private clinics that are usually favoured by expats. Both of the health systems are being continually improved with the addition of new hospitals and improved training for medical staff. There are three large private hospitals in the capital of the country that most expatriates use. While some may want to seek the low cost of local insurance plans, most visitors and expats would want to obtain international health insurance to use high quality private medical facilities along with the ability to obtain medical treatment outside of Costa Rica, especially in the USA.
Housing in Costa Rica
Aside from its scenic beauty and lower cost of living, the property market in Costa Rica is very prosperous because foreigners are entitled to the same ownership rights as Costa Rican citizens. The fastest selling properties in Costa Rica are in the greater metropolitan area and the Pacific coast. Three-bedroom family homes are priced from $212,000 USD. Waterfront properties are priced from just $100,000 USD.
Cost of Living
The cost of living in Costa Rica is relatively lower compared to Western standards. A three-course meal for two people in a mid-range restaurant will cost around $33 USD. Local groceries are generally inexpensive and and transport costs are low.
International Health Insurance in Costa Rica
Expats should make sure that their plan includes medical evacuation and repatriation coverage. Expat Financial can source international health insurance for expatriates in Costa Rica from large and respected international insurance companies. Please contact us today for a quote and to discuss your Costa Rican expatriate insurance requirements.