What it costs to own property in Costa Rica: 0.25% property tax, utilities, maintenance, insurance, property management, maid service and corporation fees.
Owning a property in Costa Rica offers a slice of tropical paradise, but it also comes with its own set of costs. Understanding them is crucial for effective financial planning.
Here is a breakdown of the costs involved in owning a property in Costa Rica, covering property tax, utility bills, maintenance, insurance, property management, maid service and the additional fees for properties held in a Costa Rican corporation. The amounts are indicative and vary by property, location and provider; use them to build a first budget, then get real quotes.
1. Property tax: 0.25% of assessed value
Low comparative tax rate. Costa Rica’s property tax is low: 0.25% of the assessed value. For every $100,000 of assessed value, owners pay about $250 a year in property tax. Luxury properties may have additional charges; see the luxury home tax in our taxation overview. Beachfront and concession land can be treated differently, so ask about your parcel.
2. Utility bills
- Electricity: about $100–$300 per month. Monthly electricity costs typically range from about $100 to $300, depending on the property’s size and factors such as a heated pool. Air conditioning is a big driver on the coast.
- Water: about $30–$80 per month. Water bills range from about $30 to $80 a month, depending on consumption and whether the property has a pool.
3. Maintenance
Annual maintenance costs. Maintenance varies, from about $500 a year for a condo to about $2,000 for a larger luxury house. Homes on the coast, with pools and gardens, tend to sit at the higher end.
4. Insurance: about $500–$1,000 per year
Annual premiums. Property insurance in Costa Rica typically costs between about $500 and $1,000 a year, depending on factors such as property value, location and coverage.
5. Property management: about $125–$150 per month
Monthly management fee. For owners who do not live in the property full-time, a property manager is essential. Monthly fees for caretaking-type management of a home range from about $125 to $150. This is not the same as managing a vacation rental, which is a percentage of rental revenue and covers guest services; see our guide to what rental owners really pay.
6. Maid service: about $20–$40 per day
Affordable cleaning services. Maid services in Costa Rica are economically priced, ranging from about $20 to $40 a day depending on the size of the home.
7. Additional fees for properties held in a Costa Rican corporation
- Corporate tax: about $194 per year. Properties held in a Costa Rican corporation incur an annual corporate tax of about $194. The amount is set by the authorities and can change.
- Resident agent fee: about $300 per year. A local attorney acts as the resident agent for the company and receives documentation. The annual fee for this service typically amounts to about $300.
Putting it together
Understanding these ownership costs lets you budget effectively and gives a clear picture of the ongoing expenses of owning a property in Costa Rica. Add homeowners-association dues if the property is in a condominium or gated community, which are not covered here; ask for the current amount and what it includes before you make an offer. For the other side of the sums, see our guides to the costs of selling and to taxation in Costa Rica.
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All amounts are indicative, vary by property, location and provider, and change over time; get written quotes before you decide. Tax amounts are set by the Costa Rican authorities. This is general information, not financial, legal or tax advice.
