Guide to Long-Term Rentals in Panama

Panama is a country with something for everyone, from its sandy beaches and verdant rainforests to its colonial buildings and vibrant city life.ma And with its warm climate and laid-back atmosphere, it's no wonder that more and more people are choosing to rent property here on a long-term basis.

If you're thinking of doing the same, this guide is for you. We'll take you through the basics that you need to know about Panama long-term rentals.

1. Cost of Living

The first thing you need to know about long-term rentals in Panama is the cost of living. In general, the cost of living in Panama is quite low, especially compared to other countries in Central America. For example, a two-person household may live on $2,600 a month or less, including rent.

2. Requirements

When it comes to long-term rentals, there are a few requirements that you'll need to meet. Things like proof of income, medical insurance, and a security deposit are required typically by landlords.

3. Rental Agreements

Once you've found a place to rent, the next step is signing a rental agreement. This document will outline the terms of your lease, including the durationof the lease, the monthly rent amount, and any other relevant details.

4. Utilities

Another thing to be mindful of when renting a property in Panama is utilities. Most landlords will include the cost of water and electricity in the monthly rent, but this isn't always the case.

5. Location

Regarding finding the perfect Panama long-term rentals, location is always key. Panama is a large country with different places to live, from the beach to the city. It's crucialto think about what you want in a location before making a decision.

These are just a few things to be aware of when looking for long-term rentals in Panama. With some research and help from Panama property experts, you're sure to find the perfect place.

3 Reasons Panama's Real Estate Market Is Great for Buying

 Looking for a place to call home? A place to invest? A place to retire? Panama should be on your list! This tropical paradise is one of the ultimate destinations for everyone, with its diverse landscape and endless opportunities.

Here are three reasons why the Panama real estate market is a great choice to buy:

1) The country's stable economy

Panama is Central America's economic powerhousewith a robust economy. It is still one of the most rapidly expanding economies in Latin America. The country's political and social stability, and its currency pegged to the US dollar, make it an ideal place to invest.

2) Perfect location and excellent quality of life

Panama is strategically located between North and South America, making it a hub for international trade. It also offers easy access to some of the world's most beautiful beaches and islands.

Panama also offers an excellent quality of lifewith its tropical climate, stunning scenery, and friendly people. The country has a relatively low cost of living and is home to several world-class hospitals and schools.

3) Easy residency process

Panama has the easiest residency process and it's inexpensive. In just a few months, you can obtain a residency visa and start enjoying the many benefits of living in Panama.

The Panama real estate market is one of the most promising in Latin America. The country's booming economy and growing population are driving up demand for housing, making it a great time to invest. Panama is the perfect place to buy, whether  you're looking for a retirement home, an investment property, or a vacation home.

So what are you waiting for? Contact a Panama real estate agent today and start searching for the perfect property in Panama!

Investment Locations in Panama

Panama is home to numerous advantages that make it an attractive destination for businesses and investors. These include its strategic location, pro-business legal framework, low tax burden, and developed infrastructure.

The country also offers a wide range of investment opportunities across sectors such as, tourism, agribusiness, logistics, energy, and mining.

If planning to rent a house in Panama or buy an existing property, here are some of the best investment locations in Panama that you can consider:

1. Balboa Avenue, Panama City

Balboa Avenue is one of the most important commercial areas in Panama City. It is home to many multinational companies, banks, and other businesses. The area also has a wide range of shopping and entertainment options.

2. Casco Viejo, Panama City

Casco Viejo is a historic district. It is a popular tourist destination with many restaurants, bars, and hotels. The area is undergoing a major regeneration project, making it an increasingly attractive investment location.

3. Panama Pacifico, Panama City

This place offers a many benefits to businesses, including tax exemptions and duty-free importation of goods. The area is home to several multinational companies, too.

4. Colón, Panama

Colón is the second-largest city in Panama and is located on the Atlantic coast. It is an important trading hub due to its location at the entrance to the Panama Canal, which is why many manufacturing businesses are based here.

5. David, Panama

David is the third-largest city in Panama and is located in the west of the country. It is a popular tourist destination due to its proximity to the Pacific coast and has national parks nearby. There are many universities in the area.

These are some of the best investment locations in Panama. Whether you want to rent a house in Panama City, buy an existing property, or set up a business, plenty of opportunities are available in the country. All you have to do is explore!

Panama City — New Law Gives Additional Boost to Already Booming Real Estate Market

For many people, a beach holiday is a perfect antidote to the stress of everyday life. Panama—particularly Boquete—is a top location for those who seek some solace. And like any other tourist destination, vacation rentals in Boquete, Panama are always high in demand, making them fantastic investments.

Reasons to invest in vacation rentals in Boquete, Panama

The great thing about visiting or moving to Panama is that the local government will have your back. They have passed numerous laws to support the real estate market, leading to a significant boom that is continuously growing:

The Foreign Investor Protection Law

Do you plan on investing in vacation rentals and homes in Panama? Most foreign investors are subject to strict regulations that prevent them from earning a high return on their properties; however, this is not the case in Panama.

The Foreign Investor Protection Law of 1998 declares that you, the foreign investor, will have equal rights as the citizens. As a result, you can freely participate in trade, disposing of your profits as you see fit.

In addition, this law grants you the right to commercialize your goods, products, and other investments in the country.

Real Estate Law 2 of 2006: Island and Concession Real Estate

Looking for a larger project to invest in? Panama’s concession laws permit individuals or companies to develop public properties for a specific purpose, such as marinas and hotels. This results in excellent long-term investments, allowing you to take advantage of the country’s booming tourism industry.

Retirement Incentives

Panama is also a lovely destination for retirees. The country offers enticing incentive programs, including benefits such as:

·        Discounts in hotels, restaurants, movies, and professional services

·        Bringing in household goods free of taxes

·        Top-tier healthcare facilities

·        The ability to buy and own property

Trying to find the perfect vacation rentals in Boquete, Panama? Consider comparing different properties on a trusted listing site and contact an experienced real estate agent for better guidance!

Ways to Modify Your Rented House

You don’t always have to purchase real estate to live comfortably. Many people opt to rent a house in Panama City instead, allowing them to save more cash in the long run.

Renting a house in Panama City gives you better access to amenities and the opportunity to downsize. But there’s a catch. Rental homes often don’t allow tenants to make significant modifications. This can limit your freedom to renovate and refurbish the property, especially if you’re an avid DIYer.

But don’t worry—there are still some creative ways to modify your rented house without making permanent changes. Here are some suggestions:

·        Surround yourself with greenery.

Houseplants are an affordable and easy way to add more color to your rental home. They’re also excellent for your health, supplying more than enough oxygen to increase energy and enhance relaxation.

Even those not blessed with green thumbs can fill their homes with indoor plants. Some species are almost impossible to kill, such as the paddle plant, lady palm, pothos plant, and mini jade.

·        Invest in a statement rug.

Does your living room lack the “wow” factor when you walk in? Maybe all it needs is a little color from a statement rug. You can find high-quality carpets in different styles and patterns, perfect for showing your personality outside your bedroom.

·        Brighten up the home with light fixtures.

A single lamp can change the overall look and feel of your home. You can never go wrong with more light, particularly if the property isn’t blessed with big windows and natural lighting.

Why not place a table lamp in your room to create ambient light when you’re reading or relaxing? And if possible, consider changing your bulbs to LEDs for better energy efficiency.

·        Hang your favorite art pieces

Do you have a piece made by your favorite artist? If you don’t have enough space for a shelf, hang the frame in your living room. You can use damage-free hanging strips instead of nails, adding more personality to your space without getting in trouble with your landlord.

Want to rent a house in Panama City? Make sure to connect with an experienced realtor and use a reliable listing site to search for the best properties in the area.

Vacation Rentals in Boquete, Panama — Are You Dreaming of the Perfect Vacation?

Itching to go on the vacation of a lifetime? You don’t have to go to crowded cities teeming with tourist traps. Why not try to go to Boquete in Panama? It’s so much more peaceful, less crowded, and gorgeous. And the best thing is there are numerous vacation rentals in Boquete, Panama; you can book for your dream holiday. They are so much better than hotels in many ways.

Vacation rentals in Boquete, Panama — Your home away from home

Panama is best known for the Panama Canal, a central commercial hub that connects three majestic bodies of water: the Atlantic, Pacific, and the Caribbean Sea. But don’t be fooled. That’s not all Panama has to offer. The country is also known for multiple natural wonders, including Boquete’s Lost Waterfalls and the Quetzales Trail.

And although there are hotels in Boquete, it’s often better to book an apartment or condominium instead. Vacation rentals in Boquete, Panama offer the following benefits:

·        Feel like a local

Nothing screams ‘tourist’ more than staying in a generic chain hotel. If you want to experience Panama like a local, it’s best to stay in a rental property. Vacation condos are closer to the ‘real’ parts of town, perfect if you want to visit the local market or enjoy a cup at a hidden coffee shop!

·        Save money

Renting a condo is often much cheaper, than booking a hotel room especially if staying for a week or more. You will save a lot of money by staying in a fully furnished property. For instance, you don’t have to rely on takeout food all the time because the apartment will have a kitchen where you can whip up easy and healthy meals. You also don’t have to pay laundry fees if the condo has a washer and dryer. A vacation rental home has everything you need, from cooking appliances to entertainment systems, serving as your home away from home.

2022 Panama Real Estate Trends

Are you planning to invest in Panama real estate? It’s one of the fastest-growing markets right now, so it’s even more important to be prudent. Before you go search for properties, here are some of the things you must know about the current state of the Panama real estate market.

Like most countries, Panama experienced a slight setback during the peak of the COVID-19 pandemic. Businesses shut down, people became unemployed, and the economy suffered. But luckily, things are slowly going back to normal.

For instance, the country’s real estate industry is on the rise, affected by numerous trends and opportunities:

·                             A profitable alternative

Panama is a popular destination for immigrants and retirees, especially from the United States. As a result, the market has grown exponentially and is expected to boost only in the coming years.

·                            Rental rebound

The pandemic has led to an alarming vacancy rate in rental properties. But by 2021, this number slowly decreased, bringing occupancy rates to over 95%. This is forecasted to increase further as apartments attract more potential investors.

·                          The rise of cryptocurrency

Cryptocurrency is no longer restricted to the depths of the internet. Even property buyers have started accepting payments in Bitcoin. As more people invest in crypto, you can expect it to become an integral part of Panama’s future real estate market.

As you can see, investing in Panama’s properties can still be profitable in 2022. However, you’ll also need to consider other factors, including:

·                           Location

Panama is a huger country than you might think. To ensure profitability consider a property’s proximity to amenities, green space, transportation, and medical services.

In Panama, you can look at properties located in Panama City, Bocas del Toro, and Pedasi!

·                           Investment purpose

Why are you investing in Panama real estate in the first place? Your investment purpose can ultimately affect the property’s profitability, so make sure you plan accordingly. Talk to a realtor to explore your options.