Real estate in Panama

Investing serious money in anything can be intimidating. Especially when it comes to a specific market that most likely is foreign to us say, the panamanian real estate market. However, like most things, it’s a matter of understanding the situation whilst keeping in mind various variables and well, predicting to some degree the future. The advantage in investigating any of these markets is that with some common sense and a little bit of networking we can put together a bigger picture and realize what we’re up against. Panama, with interesting ties to the North American government may facilitate to a degree the buerocratic process but there’s no way around the nitty gritty grass roots research that any serious investor should do. In the capital city with rising costs of living, rising crime rate and a mess of different foreign investors, sometimes the best idea is to think outside of the box. Properties with more specific functions like beach houses in “Las Tablas” the capital of the southwestern province of “Los Santos” principly known for its Carnaval period festivities recognized for its art, architecture, and cuisine. Foreigners, whether residents or not, can enjoy the same rights and privileges enjoyed by citizens of Panama, when they buy and sell real estate. Foreign investors get a guarantee of 10 years of stability
guaranteed that all laws, taxes, tax, customs duties,
council tax and labor laws will remain the same as those
were in effect at the time of registration of your investment. There is actually a law that provides these guarantees: Investor Protection Act
Abroad. The U.S. Embassy issued a report to the United States government
about buying real estate in Panama: “Titles on Land, and the process of buying them, are similar in concept to the United States, and land and deeds are duly registered with the Public Registry.” Buy real estate in Panama is so safe that one of the most important insurance companies provided U.S. policies
in Panama, such as LandAmerica Lawyers Title.
Once you decide that you want to buy a property, it’s recommended that you perform a title search to ensure that the property in question has a title free of any debt. This step is usually included in closing costs which can vary from lawyer to lawyer, but is usually maintained in the range of 1.5% - 3% of the purchase price of the property.

One Response to “Real estate in Panama”

1. Adalberto Ligman says:

   June 16, 2011 at 8:19 pm

   In the event that an individual would like to make money through investing , you should always be sure to acquire plenty of investor information and facts prior to you making any purchase or financial commitment. Numerous people are generally very successful at investing, but there are also many who fail with their first attempt simply because they did not search for the proper investor information before they dove in.

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