Published on 18 March 2008 at 10:02 am
Filed in Property News for Panama » Buying Property in Panama Safely and Securely
Ho him, the highly respected Homes Overseas magazine recently published a piece all about Panama and quoted Amberlamb. Which was nice.
The only trouble is, the world and his wife will now be looking at the investment prospects in this country and presenting themselves as prey to some of the less than scrupulous sales agents that exist in Panama. Not exclusively you understand, they exist everywhere, but in Panama there are a number of scams and tricks that are fairly unique to the country’s property market. So we thought we’d better add a bit of a addendum to the ‘Where to Lay Your Hat’ piece in Homes Overseas...namely, buying property in Panama safely and securely.
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If foreign property investors make themselves aware of the real estate purchase process in Panama before actually committing to the market they should find that their property transactions proceed smoothly and that the whole buying process is relatively stress free.
Foreign buyers are permitted to own freehold title to the majority of land and property available for sale in Panama, but investors need to be aware of certain restrictions that apply and also the difference between purchasing titled properties and rights of possession in Panama.
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The real estate investment potential in Panama has been growing directly in line with international interest in Panama; and the interest from tourists and retirees in this Caribbean country has surged in recent years with tourism taking over from the Panama Canal and Free Trade Zone in revenue generation terms for the first time in 2003.
The potential for real estate investment profits in Panama are bolstered by the country’s stable and strong political and economic situation and the majority of opportunities exist in the tourism or retirement market sectors with an emerging opportunity beginning to develop in Panama City for the restoration and development of old buildings and also through corporate lets.
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Panama is a strategically important, stunning, tropical Central American country growing increasingly popular with real estate investors particularly from Northern America and Western Europe.
International property investors are attracted to the favourable Panamanian taxation regime, the wealth of opportunity in the real estate sector offered country wide as well as the long term property sector growth potential which is based on some very solid and positive foundations.
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