Today, not doing your research before buying real estate can lead to costly mistakes. For one, you may end up with a property that's not worth the price you paid for. Other times, it could be more expensive to maintain than the rest of your expenses combined. That's why when looking at buying property in Panama, it's important to consult a real estate expert who knows what they're doing.
Here are some benefits of buying property in Panama from a real estate perspective.
Affordable prices
Compared to neighbouring countries and popular expat destinations, properties in Panama are reasonably priced. For instance, you can buy beachfront homes or apartments for significantly less than what you would pay in other similar locations. This opens up to various opportunities like:
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buying a vacation home,
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investing in rental properties and
● owning a permanent residence for retirement
Incentives for investors:
Panama offers more than 40 laws that give incentives to people who invest. These laws provide good tax benefits and make it easier to run a business. Now, imagine owning property in a country where the government supports you and your investments. It provides a huge advantage, right?
At this point, you may be wondering if buying property in Panama is too good to be true. But wait, there's more.
Residency
Choosing to buy property in Panama can help you if you want to retire or live in another country. The government offers easy ways to get residency if you own a property. By investing $100,000, you can get a visa to stay for two years, with the option to apply for permanent residency later. For those who invest $350,000, permanent residency is granted right away, and the process takes about two to six months.
For professional assistance in buying property in Panama, contact Panama Realtor at +507 63412000. With us, you can get all the help you need to make an informed decision and find the perfect property for your needs.
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