Buying a property can be a stressful process if not done with the right guidance, especially if you want to invest in Panama from abroad.
How to invest in Panama?
There are 5 key points to take into consideration to invest in Panama:
It is important to take into account the budget available, location, objective of the investment (whether it is to get the residence, to receive passive returns or to live it), quality of the construction and the promoter, and finally closing costs and taxes.
Budget
It all starts with the budget. With this parameter, the real estate agent will be able to get the best real estate option within the investor’s possibilities. Additionally, it is advisable to request a comparative analysis of the market in order to understand the respective prices by area and thus determine if an investment is fair and or if it is above the market price.
Location
Location, location, location! Key element in real estate. The location can be decisive, both to guarantee the quality of tenants if it is an investment property, and also to know the capital gain that can be generated over time. A good real estate agent will be able to provide insights into areas that are growing, and which are stagnant for reasons that foreigners could not identify with the naked eye.
Best areas to invest in Panama with return:
Objective of the Investment
It is important to determine the purpose for which the investment is made: it can be as an investment, in order to obtain residence or, to live in the property.
Invest in Panama: it is very important to seek advice from a real estate agent to understand which are the areas that generate the most returns and profitability. In Panama, the short-term rental model, for example the one carried out on platforms such as AirBnB, VRBO or Booking.com, has shown to generate excellent returns, as long as it is well managed and well located.
Residence: it is possible to obtain Panamanian residence depending on the nationality with which you are applying. For example, if your nationality is on the “Friendly Countries” list, a minimum investment of $200,000 in real estate is required. In other scenarios, it requires an investment of $300,000, depending on nationality. For more information on this topic, visit our blog.
Lifestyle: it is important to focus on the lifestyle of the investor and his dependents. A real estate advisor can guide you in the various ecosystems that exist in different areas to ensure the best option.
Quality of Construction
The quality of the construction and the developer is a very important detail that buyers often overlook. Doing business with quality developers and constructions can ensure the capital gains of an investment. At Acquire Panama we only work with the most renowned companies in the market and with impeccable track records to ensure an excellent purchase.
Closing Costs and Taxes
It is important to understand what the closing costs of the purchase are, how much the property pays in taxes and how much you would pay at the time of the sale of your property, in case you want to sell it one day.
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