Concession Properties in Costa Rica
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Dreaming of purchasing a Costa Rica beachfront property where your backyard is the ocean is close to impossible to find. Most of the beachfront property is actually concession land, which means it is in the public domain and not available for private ownership. In Costa Rica, concession properties are generally avoided because they don’t grant the ownership rights. Taking possession of these properties is the equivalent of a long-term lease.
95% of the beachfront property is concession and governed by maritime zone law. The first 50 meters of beachfront are held under public domain, and the next 150 meters of land are held under concession. The buyer may use the land for a number of years. Generally, concession land is far less money because of their complicated status. When you purchase concession property, than you are agreeing to the fact the government maintains the right to seize the property if it is needed.
If you decide to go ahead and purchase a concession property, consult with an attorney to make sure the seller has the rights to occupancy, and is in fact in a position to offer you the rights to the land. The land use rights can range anywhere from 5 to 40 years. Most concession properties offer 20-year occupancy rights. If you’re a die hard beach lover with your heart set on having the ocean as your backyard you may take the risk. Be clear that you are essentially signing a long term lease on the land not purchasing the property.