Published on 08 August 2007 at 02:14 pm
Filed in Property News for Panama » Property in Panama Ripe for Investment
There are no two ways about it – property in Panama is ripe for investment especially if you’re an investor working in a currency other than the US dollar right at the moment!
As the dollar languishes in its miserably low position against Her Majesty’s mighty pound, (or the euro for that matter), British, Irish and European investors are best advised to book a flight to Panama City and begin their real estate research and due diligence.
Property prices for stunning real estate centrally located and ideal for letting out to the growing numbers of international business persons relocating to this ever advancing nation of Panama are incredibly low.
All properties for sale are marketed in US dollars which mean it’s possible to pick up a penthouse or a stunning condo in a high rise, kitted out with the very best in terms of amenities and facilities, for less than you could bag a bog standard semi for in the North of England.
And when you consider that you can achieve up to 10% yields on such an investment into property in Panama easily, and leave your new asset in the hands of a professional management company and let them do all the hard work – I’m sure you can see that property in Panama really is ripe for investment.
Add to this the fact that lending criteria in Panama are relatively easy and that there’s a choice of international and local banks and mortgage brokers all willing to assist and that there are even financial incentives in place from the local government to get international real estate investors and buyers into the property market in Panama and there are surely no good reasons you can give us as to why NOT to invest in property in Panama!
However – slow down a moment - not ALL property is as good value as it may first appear. If you apply the Dubai dynamics to Panama today you’ll quickly realize that some developments are better located and will always achieve decent rental income and others will just be poor property investment choices impossible to rent and difficult to resell.
The amount of construction under development right now in Panama City rivals a Dubai or recent years – this means there is exceptional choice and developers and realtors will fall over themselves to get your business – but think to the future. What sets one high rise above another, what sets one district above another and which assets will still achieve a decent rental yield down the line when there is – as sure as eggs are eggs – significant oversupply.
So yes, property in Panama is ripe for investment – but do your due diligence very carefully indeed and buy a pedigree not a pup.
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