With its exotic beaches, incredible waves, and world-class amenities, Jaco, Costa Rica is one of the country’s hottest destinations for expats and tourists alike. In addition to its beautiful surroundings and ideal climate, its location also contributes to this destination’s appeal.
Jaco, Costa Rica, is located less than two hours from the capital city of San Jose, in the Central Pacific region, right smack in the middle of anything you could possibly want to do in Costa Rica. But when deciding whether Jaco is right for you, take into consideration these five common mistakes newcomers to this tropical hotspot make.
Chris Goldberg
1. They never give surfing a try.
Of all the factors that attract expats and visitors to Jaco, none even come close to its impressive waves. It’s a surfer’s paradise, with shores to appeal to even the most advanced surfer.
Jaco’s beaches are lined with surfers of all skill levels, just waiting for the perfect wave. Many say it’s reminiscent of a California surf town in the 1970s, yet with all the usual modern day amenities.
Nearby Playa Hermosa, where the famed Quicksilver Competition is held each August, offers six miles of black sand beaches and consistently high waves. However, the waves in Jaco, particularly on the southern end, are much more manageable for less skilled surfers.
Even if you’ve never picked up a surfboard, you can get a private lesson and rent a board from one of the many surf schools along the beach and in town.
Dan Grey
2. They assume Jaco, Costa Rica real estate is too expensive.
Jaco’s population has grown rapidly over the past decade, due to its unrivaled natural surroundings and top-notch amenities. As a result, it’s become one of the top destinations for expats relocating to Costa Rica.
Those looking to buy property in Jaco can choose from golf course condos, gated communities, and penthouses with panoramic ocean views. However, despite the fact that there are definitely some pricey high-end properties in Jaco, there are also still a number of affordable options.
Jaco may not be the best choice for an investor looking to sit on a property and hope it increases in value, as this town is already equipped with all the First World amenities and infrastructure needed for appreciation.
But someone looking for their own personal paradise or something to generate rental income can realistically find something to fit their budget in Jaco, Costa Rica.
wytze
3. They don’t realize it’s not a swimming beach.
There are a lot of fun things to do in Pacific waters off the coast of Jaco, Costa Rica. (See #5.) Swimming isn’t one I’d recommend.
In fact, researchers at the National University of Costa Rica (abbreviated UNA) studied 150 beaches in Costa Rica, looking at factors like currents and wave force, and deemed Jaco’s coast to be one of the country’s top five most dangerous.
Due to strong, unpredictable rip currents and waves of substantial force, this stretch of shoreline has unfortunately claimed the lives of many tourists. And while these risks cannot be entirely predicted or avoided, there are precautions that can be taken.
For starters, beaches where large amounts of sea turtles nest tend to have stronger undertow conditions. This is likely because the turtles use the rip current to escape potential predators like jaguars and storks.
You can also sometimes spot rip currents by the sandy discoloration of the water where they disturb the ocean floor. However, if you’re this close it could be too late to avoid it.
If you do find yourself caught in a rip current, try swimming towards the shore at a 45 degree angle. If the current is too strong, swim parallel to the beach in the same direction as the lateral current until you’re free of the strong pull. Likewise, avoid giant waves by swimming down underneath it as far as you can until it passes.
4. They underestimate Jaco’s nightlife.
It’s not uncommon for most Costa Rica beach towns to have something of a party culture. But Jaco takes that characteristic to a whole new level. With nightclubs, discos, casinos, and dive bars lining the beach and the street, there’s an endless number of choices for evening excitement.
But it doesn’t necessarily stop there.
After 10 p.m. the town can get pretty loud and reckless. Drugs are readily available. Prostitution is legal. These, combined with the slight increase in crime that comes with them, might make the faint-hearted newcomer a bit uneasy.
The good news is that, while the party scene can’t entirely be avoided, your exposure to it can be limited. Stay away from the two or three bars where most of the prostitution is contained. Instead of crowded nightclubs, spend your evenings enjoying the cuisine at one of Jaco’s many exotic restaurants.
And take comfort in knowing that Jaco employs more police officers than any other Costa Rican beach town. Costa Rica values its tourists, and every possible measure is taken to ensure their safety and security.
Scott Ableman
5. They think surfing is Jaco’s only draw.
While surfing is one of the most incredible and best known activities and attractions Jaco offers, it’s far from being the only one. Whether you’re a wildlife activist, adventure lover, sports enthusiast, or just a regular old beach bum, Jaco has something for everyone.
Despite the appeal of its shoreline, Jaco also offers a number of land adventures. You can hike amidst scarlet macaws nesting in the nearby Carara Biological Reserve or see Olive Ridley sea turtles laying their eggs at the Playa Hermosa Wildlife Refuge.
Also on land, there are short hikes to a number of breathtaking waterfalls. The nearby rivers and streams offer white water rafting and crocodile encounters. See the area via horseback or ATV, or even get a bird’s eye view when you soar through the forests on a zip line high in the canopy.
Golfers can play a round at the La Iguana Golf Course, designed by Ted Robinson. Don’t be surprised if a monkey or macaw strolls up to complete your foursome.
With deep sea fishing to round out the menu of adventures in and around Jaco, there’s never a reason to have a dull day. And by avoiding these five newbie blunders, you can guarantee that you’ll go into your Jaco visit armed with the facts you need to make your decision.
In Costa Rica’s highlands, just a three-hour drive from the capital city of San Jose, lies one of the country’s most impressive landmarks. Lake Arenal, which covers a total of 33 square miles, is a man-made lake that delivers big on natural beauty.
Enlarged to its present size in 1979 as a means of providing energy, the dam that created it once provided 70% of the country’s electricity. As such, the lake has played a major role in Costa Rica’s journey to become the eco-friendly nation that it is today.
Inhabited mostly by locals until recent decades, Lake Arenal has increasingly grown in popularity among expats from all over the globe. Here are a few things they’ll tell you about all there is to love about this lesser-known tropical hotspot.
Ralph Kränzlein
1. Its scenery is unparalleled.
Costa Rica is known for its natural beauty. Its rocky coasts and sandy beaches, exotic flora and fauna, towering cliffs and lush valleys. Perhaps nowhere are these elements in more beautiful display than surrounding the pristine Lake Arenal.
While the late itself is already quite spectacular, its surroundings are even more impressive. Rolling hills cascade down into the water’s edge. While out on the lake you’ll pass forests, fields, and the occasional village. And it’s all situated in the shadow of the majestic Arenal Volcano.
The lake’s shoreline is sparsely developed, due in part to regulations prohibiting any building on the water’s edge. As a result, the views are unspoiled by crowded resorts, busy marinas, or high-rise condos.
While the regulations are largely to thank for the virgin shoreline, it’s widely known that the breathtaking views of and from the lake are the area’s big draw. No developer would dare mess with that.
La Zona Verde
2. Lake Arenal real estate is surprisingly affordable.
After hearing the description of the lake and all it has to offer, you might be surprised to learn that many Lake Arenal properties (even those with a lake view) come with a shockingly low price tag. The truth is that, while interest in the area has increased in recent years, Lake Arenal hasn’t seen the massive boom that other parts of the country have experienced.
As a result, prices for real estate in Lake Arenal, Costa Rica, have risen. But not to the point that they’re no longer a good value. Rather, homes in the area are quite affordable.
Because so much of the area around Lake Arenal is undeveloped, there are also large parcels of land for anyone who wants a secluded home in the jungle with its own private hot spring. It’s also a perfect place for someone looking to build a development or open an expat business.
For those merely looking for their own personal home in paradise, there are a number of options available. There are individual homes dotting the hillsides, homes directly along the shoreline, and even a few gated communities located along the narrow two-lane road that circles the lake.
3. Time there is best spent outdoors.
The awe-inspiring views of Lake Arenal are one of the reasons its residents long to spend every waking minute outside. Another is the weather. Lake Arenal enjoys a moderate tropical climate, so mild that it’s unnecessary for most homes to even have air conditioning.
Many homes in Lake Arenal boast plenty of outdoor spaces for dining, entertaining, or enjoying a swim. Most have large covered patios with much smaller interior living spaces. Another big plus of most lake-view homes are large windows overlooking the water.
That’s not to say that Lake Arenal residents just lie around all day and enjoy the views. Quite the contrary. Thanks to the lake itself and the surrounding topography, there’s a lot to do outside for those who live in the area.
Bill Beard
4. The opportunities for aquatic adventure are endless.
Don’t let the fact that it’s a lake fool you into thinking Arenal offers less opportunities for adventure than, say, a town along the country’s coast. This couldn’t be farther from the truth. Sure, the lake is great for boating, with numerous boat ramps and several small marinas.
But there’s plenty more to see and do here.
For example, thanks to the consistent high winds that sweep across the northwest end of the lake from late October to early May, Lake Arenal has emerged as one of the world’s prime destinations for windsurfing.
Fishing is another popular activity, with plenty of rainbow bass and guapote for catching. Many people kayak or just cruise around for fun. But the lake is far from being overcrowded, with usually only a dozen or so boats on the water.
Another popular water attraction is the many hot springs that abound. These mineral-rich pools are heated by the volcano to temperatures of 100+ degrees Fahrenheit and are rumored to have medicinal properties that can help arthritis and other ailments.
5. There’s also plenty to do on land.
For anyone willing to come ashore, there are plenty of land adventures to experience. One of the more obvious being a trip to Arenal National Park where visitors can see howler monkeys, parrots, exotic snakes, and a variety of plants.
You can also see the red hot lava that pours down from the volcano’s active vent on its western slope. (Don’t worry. Park rangers monitor the volcano closely and close down portions of the park, if needed, to ensure visitors’ safety.)
The nature of a lake’s shore can often complicate transportation and accessibility. As a result, many residents of Lake Arenal choose to navigate its perimeter by bicycle or horseback. These are both popular activities in the area.
Ziplining canopy tours and waterfall excursions round out the list of Lake Arenal’s land adventures.
Anita Gould
6. Lake Arenal’s best kept secret is its people.
There’s a lot to love about Lake Arenal and its surrounding areas. It may sound like a great place to live a secluded existence in harmony with nature. And you could if you wanted to.
But what happy expats know about life in Lake Arenal, Costa Rica, is that it’s better shared.
Costa Rica natives, “ticos” and “ticas” as they’re known, are famous for their friendly, welcoming presence. And the small, close-knit community of expats who’ve decided to call Lake Arenal home echo this same attitude.
They frequent local family-owned restaurants and local bars. They gather for card games, cookouts, gardening and book clubs, and more. It’s a place where everybody knows everybody, and they welcome those they don’t with open arms.
The people are warm and inviting. The pace of life is slow. It’s no wonder residents of Costa Rica and, specifically Lake Arenal, are among the happiest in the world.
They know these truths about Lake Arenal and many, many more. Go ahead. Pay them a visit. You’ll be glad you did.
For many years Medellin Colombia had a reputation of being an unstable and dangerous destination for expats and investors. However, there’s been a recent resurgence that has transformed this special city into a location that is filled with potential and promise.
Medellin is the second largest city in the country and the third most visited, after Cartagena and Bogota. Known as the “Land of Eternal Spring” and “Capital of the Flowers,” the area has enjoyed a phoenix-like rebirth from the ashes of a troubled past.
Discovering the secrets of this Colombian gem will reveal why Medellin is worth visiting. These important details about Medellin illustrate why it’s such a great option for expats and investors alike.
Alejandro Osorio Agudelo
Is Medellin Safe? You Might Be Surprised.
The drug wars of the late 1980s and early 1990s, fueled in large part by Pablo Escobar, gave Medellin the unenviable reputation as the most violent city on the planet. Since the fall of the cartels, the government and the people of Medellin have made a concerted effort to put the past behind them and work towards making the city a place to live and thrive in.
The effort has certainly paid off. By 2015, the murder rate was 20 per 100,000 – far less than St. Louis (49.91), Detroit (43.52), New Orleans (38.75) or Baltimore (33.84). Clearly, Medellin compares favorably, in terms of safety, with other metropolitan areas.
Getting There Is Easy.
It may come as a surprise to many that getting to Medellin, Colombia is actually easier that you might think. Many major U.S. carriers, such as Delta, United, and American, offer service to this Latin hotspot. Nonstop flights can even be found leaving from cities like Miami and Atlanta.
The José María Córdova airport in Medellin is a state-of-the-art facility that was built in 1985. It is capable of handling a wide variety of modern aircraft such as the Boeing 747 and 767, as well as the Airbus 380. To accommodate the growing influx of visitors, the facility is undergoing additional modernization to attract tourists as well as the airlines that bring them there.
Iván Erre Jota
Medellin, Colombia Cultural Offerings Are World-Class.
Medellin’s recent history has often obscured the fact that the cultural scene is actually on a par with (or, in some cases, surpasses) many other cities. From outdoor plazas and parks, to collections of art and sculpture, to historical tours, there are many options to expand your cultural perspective.
Imagine finding a Zen garden in the heart of a bustling, Latin American metropolis. The Parque de los Pies Descalzos (Barefoot Park) is exactly that – a quiet space filled with bamboo, fountains and sandpits where one can rest and revitalize from a busy day of sightseeing.
Art
Art and sculpture are on full display in Medellin. The works of world-renowned artist, Fernando Botero, a Medellin native, are featured prominently throughout the city. The Botero Plaza contains 23 sculptures by the artist which dramatically demonstrate his signature style of “Boterismo,” depicting his subjects in large, exaggerated forms.
The Museo de Antioquia contains numerous paintings and sculptures by Botero and fellow Colombian artist, Pedro Nel Gómez. Located in the heart of the Plaza, this area can truly be said to be the cultural heart of Medellin.
History
For those interested in Medellin’s recent past, there is even a Pablo Escobar Historical Tour. Escobar has been called the wealthiest criminal in history, with a net worth believed to be $30 billion at the height of his career. Killed by authorities in 1993, he still remains one of the most controversial figures in Medellin, Colombia’s history.
Culture
To experience turn of the century Medellin culture, visiting Pueblito Paisa (Little Town) located at the top of Nutibarra Hill is a must-do item. Developed in 1976, this replica of a typical Antioquia village captures the feel of a small Colombian community.
Since its creation, Paisa Town has grown into one of the most popular tourist locations in Medellin. The outdoor market and various festivals transport visitors to a less harried place and time.
Architecture
Medellin can rightly be said to on the cutting edge of an architectural revolution. Modernistic construction meshes with classic Colonial style buildings, creating a unique blend of the past and the future which complement each other quite well.
In 2013, Medellin won the prestigious Veronica Rudge Green Prize for Urban Design. As can be seen below, this award was rightly earned.
Paula Funnell
The Cost of Living in Medellin Is Less Than Imagined.
Perhaps the most important question that potential expats or investors ask about any tropical destination is: How much does it cost to live there? As Medellin Colombia draws more and more attention as a possible retirement location, it may come as a pleasant surprise that the price of paradise is not as steep as one might think.
Medellin vs. Panama City
Medellin is often compared with Panama City, Panama in terms of development and in importance to their respective countries. Medellin is the larger of the two with a population of 2,441,123 as opposed to Panama City’s 1,501,691.
Importantly, each city has undergone a resurgence following a period of unrest. For Panama City, it began after the fall of Manuel Noriega in 1989, while in Medellin, the death of Pablo Escobar in 1993 marked its rebirth.
The following examples provide a good illustration of the difference in daily living costs in these two Latin American metropolitan areas:
- Consumer Prices in Medellin are 47.16% lower than in Panama City
- Consumer Prices Including Rent in Medellin are 58.09% lower than in Panama City
- Rent Prices in Medellin are 78.21% lower than in Panama City
- Restaurant Prices in Medellin are 62.75% lower than in Panama City
- Groceries Prices in Medellin are 52.63% lower than in Panama City
- Local Purchasing Power in Medellin is 11.65% higher than in Panama City
Put simply, you would only need $1,508.61 monthly to maintain the same lifestyle and standard of living that would cost you $3,600 in Panama City. It is clear that your money can go farther in Medellin than in other, similar tropical destinations.
Guía de Viajes Oficial de Medellín
Fun Things to Do in Medellin.
There are a lot of fun things that you can do in and around Medellin. Numerous celebrations, events, and special sights are all there to be experienced.
Festivals and Events
Perhaps one of the most popular events in Medellin is the El Alumbrado, or “The Lighting,” which features millions of Christmas lights and displays throughout the city. This annual display dates back to 1851 and has been run by the Empresas Públicas de Medellín, Medellin’s public utility company, since 1955.
The Festival of the Flowers, which occurs in late July through early August, may be the most important social event for the community. Established in 1957, the festival is a celebration marking the end of Colonial slavery.
During the Colonial period, indigenous Colombians were used to transport wealthy Spanish officials and their belongings on their backs. These servants were known as “silleteros” (literally “chair-men”).
Today, instead of cargo and passengers, modern day silleteros carry elaborate floral displays. From an original parade of 40 men, this celebration of freedom has grown into a festival that draws participants from all over the globe.
Sweeping Vistas
Those who enjoy taking in some stunning vistas while also getting a great cardio workout can take a short trip just outside of Medellin to Laguna Guatape. This man-made lake is actually a reservoir for the hydroelectric dam that supplies 30% of Colombia’s power.
Guatape is also the home to one of the most impressive sites in the entire country: La Piedra del Peñol, commonly referred to as “The Rock.” This ancient megalith rises some 700 ft and can be climbed by navigating the 740 steps that have been carved into its side.
Once the climb is made, the intrepid visitor can experience a awe-inspiring 360° view of the Lake and the village of Guatape itself.
World’s Best Coffee
Of course, no visit to Medellin Colombia would be complete without touring “coffee country.” Medellin is the capital of the Department of Antioquia which is widely acknowledged as the heartland of Colombia’s world famous coffee industry.
This is, by no means, the complete list of all the things that can be experienced in Medellin. Whether indoor sites, like museums or libraries, or outdoor offerings, such as parks, plazas, and sightseeing destinations, Medellin has something for everyone.
Deutsche Welle
Medellin Is One of the Fastest Growing Tourist Destinations Worldwide.
One clear indication of Medellin’s growing popularity is the increase in the number of foreigners who make their way to this South American gem. According to a recent study by the World Tourism Organization, while international tourism in general has increased by a rate of 4%, Medellin’s tourism growth rate was an astounding 34%. That’s over eight times that of the rest of the world!
Although located in South America, the weather in Medellin is surprisingly moderate. With an average daily temperature of 72° F (22° C), Medellin rightly earns its nickname as “La Ciudad de la Eterna Primavera,” the city of Eternal Spring. This comfortable climate has also contributed to the influx of visitors who come to experience all the city has to offer.
There Is a Thriving Expat Presence in Medellin.
For potential expats seeking to find kindred souls in Medellin, look no further than the neighborhood of El Poblado. It is known to locals as Las Manzanas de Oro (The Golden Apples) for its reputation as the main economic center in what has become the second largest economy in Colombia.
Established on March 2, 1616, at what is today El Poblado Square, this was the first European settlement in the Aburrá Valley. Originally known as San Lorenzo de Aburrá, the parish was renamed San José del Poblado in 1845.
First World Services and Amenities
As home to Medellin’s elite, it also became a natural drawing card for expats seeking the familiarity and comforts of a Western lifestyle. The Zona Rosa was established as an expat and tourist mecca filled with western style entertainment, shopping and business establishments.
Via Primavera and Via Provenza, both located in Zona Rosa, feature the kind of boutique shopping that could be found in major fashion-forward centers around the globe. The small shops offer a wide variety of styles and price tags for every taste and budget.
The addition of gourmet restaurants, outdoor cafes, art galleries and more, create a special cosmopolitan blend of western fashion and Colombian flair. With a growing expat population, modern amenities, and housing, El Poblado compares favorably with other high-end communities throughout Latin America.
Medellin Colombia Is One of the Most Innovative Cities in the World.
When one thinks of the most progressive metropolitan areas in the world, places like Los Angeles, London, and Paris immediately come to mind. In 2012, Medellin was included in a group of 200 cities, worldwide, for the title of Most Innovative City of the Year. One of the major reasons for this prestigious honor was the number of major advances the city has made in public transportation.
State-of-the-Art Transportation
Its Metrocable is the first gondola lift system in the world dedicated to public transit. Since it began operations in 2004, the system has a ridership of 30,000 people daily to and from the city center to less-developed areas. It is also integrated into the larger Metro system.
The Metro rail system is, in and of itself, one of the most forward thinking transit systems in the world. While moving an estimated 500,000 passengers daily, the system also reduces CO2 emissions in the city by 175,000 tons yearly.
Perhaps the most important innovation is the creation of a unique transport system connecting Comuna 13 to the rest of Medellin Colombia. A 2,244 foot, orange roofed, outdoor escalator now makes it possible for residents of this once troubled neighborhood to easily get to the heart of the city. This ability has promoted a sense of unity that has helped bridge both social and economic divides.
Alan Krupiz
You Can Own Property in Medellin.
A major concern for potential investors and expat is whether foreigners can buy, sell, and own property in Medellin Colombia. The short answer is: YES!
Like many Central and South American countries, Colombia allows foreigners to own property with the necessity of obtaining a residency visa or a Colombia National ID Card (Cédula de Extranjería). In fact, real estate transactions can be carried without with nothing more than your tourist stamp on your passport.
As Colombia continues to recover from the turmoil of the late 1990s, the country has streamlined the process for foreign buyers to invest in the country. Non-Colombians now have the same property rights as Colombian citizens, marking a dramatic departure from the prior situation, where property rights were limited for foreigners.
The Buying Process
The first step in owning property is to identify both the location and the type of property you desire. New construction or a restoration project, modern amenities or a more authentic and rustic neighborhood – like everywhere else on the planet, Medellin property is all about location, location, location.
While the process has been simplified, it is still important to have the correct paperwork in order and to make certain that funds can be readily transferred. As is the case in many tropical countries, a legally established representative is required to ensure the successful transfer of property, title, and funds.
The Associated Costs
The following chart provides a guideline of the, relatively low, fees involved in a property transfer:
| TRANSACTION COSTS | ||
| Who Pays? | ||
| Registration Tax | 1% | buyer |
| Registration Fee | 0.50% | buyer |
| Notary Fees | 0.15% | buyer |
| 0.15% | seller | |
| Real estate Agents’ Fees | 3% – 4% (+ 16% VAT) | seller |
| Costs paid by buyer | 1.65% | |
| Costs paid by seller | 3.63% – 4.79% | |
| ROUND TRIP TRANSACTION COSTS | 5.28% – 6.44% | |
| Source: Global Property Guide | ||
The fees are used to complete a number of necessary steps in the transaction process. Obtaining a certificate about the property’s history, a successful title search, the necessary tax certificates, and the property deed will take roughly two weeks.
Establishing a Colombian bank account will make the transfer of funds much easier. It is important to remember that the process of opening a new account can take up to two weeks. This can prevent delays when scheduling a closing date.
One additional point to consider is whether or not you want to hold title in your own name. While Colombia does not require the creation of an SAS, (like the U.S. LLC), it may be a prudent step for tax and other legal considerations.
Alan Krisp
Is Now a Good Time to Invest in Medellin?
For expats, retirees, and investors alike, having great potential for return on investment is the paramount issue in considering any move to a foreign country. Medellin’s emergence as both a tourist destination and an economic center make it well-placed to provide the kind of long-term, sustainable growth that many potential expats desire as a means of providing for a sunny retirement outlook.
Like other Latin American locations, Medellin may not be for everyone. It is a city in a state of resurgence and, as might be expected, there are growing pains that come along with that progress.
Do your research. Identify those items which are “must haves,” and then see how this Colombian jewel matches up with those requirements.
Discovering these facts about Medellin is only the start of the adventure. Plan a visit and explore what life there is like firsthand. You may just discover that the “Land of Eternal Spring” is the location of your own personal fountain of youth.
As more and more retirees and young expats make their way to the Latin tropics, many cities are stepping up their game to meet the demands of this new demographic. And, as infrastructure and amenities continue to improve in many tropical cities, the cost of living is increasing at rapid rates in many locations.
Since a major consideration of making the move abroad is budget and lifestyle, it’s important that you know some of the most expensive cities in the Latin tropics and what they offer. Only then can you decide if they’re truly worth the sometimes high cost of living in paradise.
It’s important, though, to keep in mind that the cost of living in a particular area is often indicative of the level of services and amenities it offers. So, when evaluating tropical destinations and their associated costs, make sure you take the whole picture into consideration…not just the dollars and cents.
Rita Willaert
The Rising Cost of Paradise
Just as is the case with any other financial market, the increased demand for expat-friendly locations in the tropics has resulted in higher costs. Rising property values, infrastructure improvements, and the desire for more amenities “just like back home” have all combined to create larger price tags for life abroad.
Below are the four most expensive cities for expat living in all the countries we cover. The continued popularity of each of these destinations demonstrates the correlation between desirability and willingness to pay for the value-added features that each location contains.
Arron and Carol
San Jose, Costa Rica
Topping our list of the four most expensive cities in the Latin tropics is San Jose, Costa Rica. As the third most expensive city in the entire region (surpassed only by San Juan, Puerto Rico and Grand Cayman, Cayman Islands), the continued popularity of this Central American destination has resulted in higher prices, including the cost of Costa Rica real estate.
A dynamic, modern, and stable infrastructure, readily accessible “western style” amenities, such as shopping malls, internet access, cable TV, and a close proximity to major North American cities all translate into value-added features for this highly coveted expat destination. However, these desirable features do come with a higher price tag that should be taken into consideration as part of your plan for relocation.
Bernal Saborio
Panama City, Panama
Close behind San Jose, on the list of the four most expensive cities in the tropics, is Panama City, Panama. According to an annual survey by Mercer Human Resource Consulting, from 2014 to 2015 Panama City’s cost of living has climbed 41 positions among all international locations surveyed and four spots in Latin America alone.
The continued expansion of new commercial investment and the accompanying improvements in infrastructure have resulted in increased housing prices and a growing demand for American style homes. Since that demand is outpacing the inventory, it’s far from being a buyer’s market.
Nan Palmero
Tegucigalpa, Honduras
It may come as a surprise to many that Tegucigalpa, Honduras has become one of the most expensive cities in Latin America in which to live. The upswing in foreign investment since the early 2000s has brought with it the cost of improving the infrastructure of the city to meet the demands of the 21st century.
While not as popular as…say, the island of Roatan, Tegucigalpa still offers high level of amenities at a price point that is less than some of the more popular tropical destinations. It can be anticipated that as growth continues, prices will stay on the rise as well.
Roman Korzh
Quito, Ecuador
Last but not least on this list is Quito, Ecuador. This capital city’s popularity with expats and retirees has led to a steady increase in the cost of living. With this price hike comes a wide variety of housing options and many other big city amenities expats have come to expect.
Not everything costs more in Quito, though. Although it’s ranked as the 13th most expensive of Latin American cities, its prices for gas and public transportation are still far less than any of its neighbors.
The Bottom Line: Is It Worth It?
For potential expats, the cost to live in a particular city should certainly play a role in the decision-making process. However, it shouldn’t be the starring one. Other factors to consider include location, amenities, climate, and whether it offers the kind of lifestyle you’re seeking.
In the end, only you can decide whether these and other tropical destinations offer sufficient bang for your buck. If you have cities you’re considering, spend some time there to see if the expat experience they offer lives up to the price point they demand. Only then can you make the move knowing you’ll never regret the decision you made.