5 THINGS YOU SHOULD KNOW ABOUT INVESTING IN REAL ESTATE IN PANAMA
Thanks to the rapid evolution of the Panamanian economy, investment intentions have multiplied both by foreigners and Panamanians residing in the country. This has directly served as a catalyst for the growth of certain markets in the region, specifically within the already popular Real Estate sector. Since the recent government investment announcements aimed at improving relocation and infrastructure, this sector has surely recovered its boom seen a few years ago.
Added to this, the always beneficial fiscal advantages that this beautiful territory presents in banking and real estate projects, combine in a direct way with the economic stability characteristic of Panama, to turn it into perhaps one of the best areas in the world to invest in real estate.
For this reason, in order to guarantee the greatest possible success in your planned investment projects in Panama, we have prepared this list of recommendations to enter the real estate market.
INVESTING IN PANAMA: RECOMMENDATIONS FOR ENTERING THE REAL ESTATE MARKET:
Locate and classify the possible investment zones: The first step to take to make a real estate investment is to locate which are the best zones that adapt to the main interests of your investment. That is to say, you must know each one of the demographic, social, and location details, especially if you are not a resident within the Panamanian territory.
Learn as much as you can about the details of the functioning of the market: Certain professionals have much more detailed knowledge about the functioning of the bureaucratic processes involved in a real estate purchase-sale intention. For this reason, it is of utmost importance to establish a connection with them and prevent any error or conflict that may harm the interests of our investment.
Be prepared to establish contact with a bank agency: It is recommended within these processes of purchase and sale, to make the contact with the bank agencies, with the intention of facilitating in advance any bureaucratic process related to the request of a mortgage loan in case of needing it.
Plan ahead: Most of the properties offered in the Panamanian real estate market usually have lower prices when they are in gray work. For this reason, it is recommended to choose this type of real estate as an investment focus so that, with the passing of time, you can obtain interest from the revaluation.
Be attentive to dates and documents: Never forget the punctuality with the delivery dates and the legal requirements requested, remember that a single mistake in this area, can seriously slow down your investment.
