Condominiums

Traditionally, the concept of “Condominium” is associated with apartment buildings and townhouses. In Costa Rica, however, there is a specific law called “Condominium Property Law” that provides a framework for development of different types of properties, including single family residence projects, finished lot projects, vertical and horizontal property condos, among other.
This law allows a developer to restrict and regulate certain aspects of the development. Each Condominium developments have its own by-laws containing all applicable conditions, restrictions and regulations applicable to owners in such development.
Condominium property ownership is fee simple ownership, but usually carries with it a few additional restrictions set forth by the developer, such as architectural guidelines, land use restrictions, and other limitations that may be placed on each branch property. For the most part, condominium laws are designed to protect the integrity of a development and maintain the “look and feel” of the project.