Reasons to Buy Luxury Apartments in Panama

Are you planning on moving to Panama with your family? Then it’s probably time to start looking for a place where you can live. Like many expats, you may be having a hard time deciding between renting and buying luxury apartments in Panama!

 

Which one is right for you? Which one makes more sense? Both options are great, but here are reasons why you might want to buy instead:

 

A great investment

 

People don’t just buy luxury apartments in Panama to meet their present needs but also to prepare for the future. These properties are excellent investments. The steadily increasing prices of apartments indicate that the local real estate market is flourishing. It is very likely that the luxury apartment you want to buy today will be worth so much more in the future. That’s because properties in Panama have good growth potential. If the current trends and demand levels continue, you can expect to get a high return on investment from the sale of your apartment in the future.

 

More affordable compared to other countries 

 

It is true that the prices for new real estate in the country have been increasing for the past few years. However, prices here are still lower compared to the cost of similar real estate properties in prime areas in the US. And if you will do your research diligently, it’s possible to find some great deals in the best cities and neighborhoods.

 

Easy buying process 

 

This is another good reason why you must take advantage of buying a luxury apartment in Panama right now. Whether you are a foreigner or local, the process and requirements are generally the same. All buyers can exercise the same rights. Here’s more good news: Many banks in Panama are willing to finance your property because they issue mortgage loans to foreigners. Just make sure to get pre-approved for a smoother process!

 

Amazing tax benefits 

 

Foreign property buyers in Panama enjoy a 20-year exemption on real estate taxes for all assets and enterprises. Just imagine how much money you can save in all those years thanks to this incredible tax benefit. In fact, you can even transfer this exemption if you decide to sell the property before the 20-year period is up.

About the Author:

 

Based out of Panama City, Panama Realtor is a duly licensed real estate company in the Republic of Panama. The firm represents properties throughout the ten provinces of the Republic and is committed to deliver a professional real estate experiences to all of its clients.

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