For those thinking about revaluing the acquired, real estate investment is an opportunity. Today, the real estate market is one of the most profitable. In this sense, Panama has become, over time, one of the best alternatives for investment in real estate, representing great opportunities for local and foreign residents. Next, we’ll look at the fundamental reasons for investing in real estate in Panama.
Despite the coronavirus crisis, Panama is one of the countries with the highest economic growth in Latin America in the last 10 years. Although the growth rate has been reduced in recent times, it remains one of the highest in Latin America.
The national currency in Panama is the Balboa. Since it was introduced in 1903, it has an exchange rate of one to one concerning the US dollar. Most of the coins in circulation in the country are dollars, with few exceptions.
Both for its location in the region and its particular features, Panama has long been a hub for flighting operations throughout the Americas. This trend has continued to grow over time. Currently, from Panama, direct flights are accessed not only to all Latin American and North American countries but also to Asia and Europe.
Panama is considered a safe country for its population. It is a powerful tourist destination for foreign travelers, so a lot of attention is maintained in security systems.
Throughout Panama, it is possible to find wonderful beaches. Some of these are located no more than two hours from the city, so it is possible to reach beautiful places with beautiful landscapes in a short time. Panama’s beaches make up a large part of its assets. This is due in particular to the country’s geographical location sharing two coasts, the Caribbean coast, and the Pacific Ocean coast.
Cost of living
While it is true that Panama’s economy is dollarized, the cost of living is low when compared to other cities. Both utilities and maintenance services are especially low when compared to northern countries.
Access to tax incentives
If you want to invest in real estate in Panama, it is important to note that Panama has various tax incentives for investors and foreigners. Also, the offshore financial sector is exempt from various local taxes.
Panama stands out especially for having an infrastructure, in general, very well developed. This ranges from highways and roads to different ways to mobilize through public media. Water, electricity, communications services, and general utilities are also well developed; its building infrastructure is one of the best in Latin America for investments in real estate, both for the purchase and sale of apartments and houses, as well as for offices.
How to invest in real estate in Panama?
The sale of apartments in Panama has been booming for a lot of time. Also, the rental of houses and apartments. When investing in these types of goods, we tell you some tips to keep in mind.
When searching, what is recommended is to reduce the main interests and needs. These can be location, price range, number of bathrooms, number of bedrooms, house or apartment, parking, square meters, among other possibilities.
Throughout the search process, it is recommended to evaluate the area and its features well. The area must be adapted to the desired lifestyle (that there is a school nearby if you have children, that there are health centers, be close to a beach if you prefer, etc.). It is also recommended to anticipate if you want to have pets. If you do not have children, but you seek to have them at some point, among other alternatives. In the case of investments, it is important to know the development plan of the area to know how much the value of the property acquired over time can increase.
Seek real estate advice
When buying homes or apartments in Panama, it is important to have adequate real estate advice. This allows access to the necessary guidance through specialists in the area, thus being able to make the right decisions.
MLS Acobir has more than 400 real estate agents and more than 200 companies that are part of it. The work system is safe and effective for both buyers, tenants, and sellers. You can access real estate agents to help you find the best property.
Find out more about our operation in: What is an MLS?
Know bank credits.
If required, different loan or mortgage loan alternatives can be accessed in Panama. It is recommended to investigate which options are available and which are best suited to the needs of each particular person or family.