| PANAMA REAL ESTATE |
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Increases in tourism and Panama as a destination for trade and commerce will also lead to increasing tenancy rates and rental values. What makes real estate in Panama so interesting at the moment is that it has yet to reach mass market appeal, making this the ideal time to invest while prices are low. The construction industry is just at the beginning of a long boom, as Panama expands its skyline with some of the most architecturally interesting buildings in the world with luxurious amenities. These residences are located in prime locations with ocean front views or surrounded by acres of parkland. Part of the reason why prices are so good at the moment is because building has happened so fast and the international market has yet to catch up.
Additionally, one cannot ignore the beautiful beachfront and waterfront real estate properties available on the Pacific and Caribbean coasts of Panama. World-class architects are building many master-planned communities such as Coronado and Punta Barco with European-style beach-side villas and condominiums. These and similar paradise beach resorts come equipped with 18-hole golf courses, elegant beach and equestrian clubs ready to offer something special for everyone. But it’s not only the low costs that make Panama real estate market attractive. Panama is a banking metropolis with a solid economy, modern skyscrapers, a good night life and great shopping. There are also numerous tax incentives for real estate investment, such as a maximum of 20 year property tax exoneration on all newly purchased properties. Foreign income is not taxable in Panama and capital gains tax is very low at only 10%. |
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