5 reasons to buy property in Panama
(themovechannel.com) Panama is still a great place to invest, whether you're an investor or a new home seeker, claims one company...
The world is in financial crisis, globally speaking real estate markets are in decline, no banks are lending money for consumers to buy houses with, and chances are there has never been a worse time in our recorded history to buy property - and yet, in our opinion there are still at least 5 good reasons to buy property in Panama!
You may have read the hype that the boom is continuing and that every property that's for sale in Panama is a sound investment bet - well, that's not entirely true. But neither is the negative hype about the market being saturated with greedy speculators and that Panama is heading for an almighty crash.
So, according to Shelter Offshore, there are 5 very sound and solid reasons why property in this stunning Central American nation is a good bet for long-term investors, holiday home seekers or even retirees and early retirees...
1) Tourism is Increasing in Panama
Panama is a first world nation offering the associated comforts, and at the same time it is an ‘undiscovered' gem of a nation where it's possible to get truly away from the madding crowd and discover hidden coves and beaches, stunning rainforests, amazing flora and fauna, unaffected people and communities steeped in history and culture.
In other words, Panama has something for everyone - and it's cheap too, relatively speaking! All of these are reasons why the country has been welcoming increased numbers of tourists year on year - in fact, it has welcomed a 12% increase annually since 2004.
Hotel occupancy rates are exceptionally high, new airline routes are opening up bringing travellers direct from nations such as Italy and the Netherlands for example, and the government in Panama is continuing to plough substantial funds into the promotion of the nation internationally.
All this bodes very well for anyone who is interested in buying property in a country with a healthy and affluent outlook for the long-term. It means that desirable homes will make good rental properties, and that as more people arrive and learn about the delights of Panama, so more people will think over the long-term about relocating to live there - thus giving a property owner an exit strategy.
2) Desirability of Panama and its Property Product
Panama has it all - from a bustling and cosmopolitan capital city to tiny rural enclaves, from high rise luxurious real estate, to beach huts and fabulous fincas. Therefore, yet again there is something of appeal to everyone.
So whether you want to live on the coast and be a beach-bum or you want to live the high life in Panama City, you can when you choose the right type of home for you in Panama.
This makes the nation a great choice for anyone thinking about moving abroad - because you can likely find your perfect home in this one nation - no matter what it is you're looking for in a property!
3) Property in Panama Can be Competitively Priced
Because the really booming times in Panama's recent history are currently over, there are many speculators keen to exit the market and consolidate their debts, there are developers doing their best to off-load already constructed stock, and there are private vendors willing to accept below asking price offers for property.
What's more, away from the glitzy, modern high-rise property market in Panama City, most real estate in Panama is sold on a more personal basis. You'll find that those who are selling a family home for example, are far less likely to want to sell to an anonymous buyer from abroad and far happier to sell to you if you befriend them, enter into direct negotiations with them and remain calm, open and friendly throughout.
These sorts of vendors would rather sell to you for a lower sum if you take this approach, than they would to an overseas buyer they have never met who is dealing with a slick real estate agent and offering them their asking price!
In other words, Panama is a market where there is a lot of room for movement when it comes to asking prices - no matter which approach you take and which properties you're looking at. And it's also a market with some exceptional bargains.
4) Long-term Potential for Profit
Panama's canal extension project is on track, tourism numbers are consistently rising well, the government and business environment are stable, fiscally speaking Panama is affluent and successful, the ‘pensionado' scheme attracts more wealthy ‘retirees' annually and the real estate market's transparency is improving.
These are all very good reasons why Panama has exceptionally good long-term potential in terms of its property investment prospects. Whilst things are looking less favourable at the moment due to the current state of the global financial market, those who look to the long-term and take anything but a speculators approach to the market stand to reap the rewards eventually.
5) Lifestyle
The final reason why we feel that property in Panama is a good bet is simply because the lifestyle available in Panama is fabulous! It's once again the case where you can get what you want from life - so, if your idea of heaven is shopping in glitzy boutiques, working in the City, dining out in posh restaurants and living in luxury - you can have that lifestyle in Panama City.
Or, if you prefer the thought of living in a friendly expat community close to the sea and with wonderful views and a very laid back pace of life, this type of lifestyle is also possible.
Alternatively, those who want to get away from it all or who want to live on the beach, in the mountains or perhaps in the local community can also find a property that will give them the lifestyle they want.
Source: www.Shelteroffshore.com
