Commercial Real Estate In Panama

by: Ramon Roux. Total views: 15 Word Count: 541

You have decided that the country of Panama is the perfect retirement spot for you. You enjoy the luxuries of living in Panama City, but you’re not sure exactly what type of property you want to invest in. Do you go for something on the outskirt that’s a bit more rural? Or do you look for something in the city close to everything it offers?

There is a wide variety of choices in what type of place you want to live, from apartments to condos to houses on the beach. If you’re looking for something with more square footage but no maintenance, a condominium is your best bet. You can purchase or rent a condo, depending on your individual needs, and they can come furnished or not.

Due to huge real estate boom, as well the value of the dollar in Panama, you should easily be able to find a condo that fits your needs. Some come with ocean front views, and most of the condo complexes built in Panama City offer amenities such as a swimming pool, gym, sauna, and play area for the children. The hardest part would be choosing the exact location.

If you are serious about finding the right condo, hire a real estate agent in the area who is English speaking and can take you around to each of the many complexes there are. Make a note of where the condo is in relation to other services in the city, such as the medical facilities and shopping. Find out if they have a parking garage for your vehicle if you decide to have one. If the condo is a rental, ask if it could be optioned for purchase and the cost.

Condos can start as low as $159,000.00 and go as high as over a million. Some of the complexes also offer single family homes within them that also overlook the ocean. Because the cost of living in Panama is considerably lower and there is such a real estate boom, the price you pay for your condo is a premium.

It is probably better to also purchase your condo instead of renting it. Monthly rental rates have been listed as anywhere from $2,000.00 to $3,500.00 dollars. If you are going to pay that much, you might as well invest your money into the unit and purchase it. With the boom continuing, if you decide to sell in a few years, you could conceivably get more out of it. Also, check with your real estate agent about taxes. There may be some condos available where you would pay no taxes for ten years. It is unclear if this is the norm or only at certain complexes.

Once you’ve decide what you’re interested in, make an offer. Many of the complexes are new – or even still being built - and are waiting to be occupied. You can be assured of a nice, new home within a short distance of all the luxuries a city has to offer. Soon you’ll be enjoying your ocean view, warm breezes and sandy beaches, and the festivities and electricity of the Carnival all in Panama City.

About the Author

Ramon Roux is General Manager for CB Richard Ellis a Panama real estate leading companyReal Estate in Panama. Find more information about Retire in Panamahere.

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Commercial Real Estate In Panama

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