Panama’s Real Estate Growth: Panama has had non-stop real estate growth since 2005. The worldwide economic crisis did not affect Panama’s economy, which remains the strongest in Latin America. Panama City has more than 200 condominium buildings of more than 20 stories.
Tall construction is being done. The city is facing a complete infrastructure overhaul with new Volvo buses with air conditioning, replacing the entire fleet of its public fleet.
A new metro 13-kilometer metro system is under construction that will deliver new, sleek, modern metro trains from Panama City’s international airport to Albertoch through the city center where Panama’s largest malls and its largest international bus terminal are located in the city Located and a domestic airport.
Panama Real Estate Investment Opportunities
Panama has beautiful beaches located on the Pacific and Atlantic Oceans. New resorts are being built with basic facilities to support them. There are over 1,000 islands in Panama and many of them are looking at new infrastructure and resorts that will make Panama one of the most popular beach resort destinations in all of Latin America.
Since 2005, tourism has been growing at an annual average of 10%. Panama has laws supporting tourism development by foreigners, who are now feeling a spike in new hotels across the country.
Easy to move to Panama
Panama immigration authorities are among the most progressive in Latin America, with more than 15 immigration visas and permanent residency programs inviting immigrants to relocate to Panama.
In 2012 the President of Panama issued a decree to quickly and easily become a permanent resident of 50 affiliated citizens by starting or buying Panama businesses.
Foreign employees from these countries can also apply for this permanent residence visa hired by the Panama Company. More countries are expected to join.
Panama’s Real Estate Growth
Foreign investment is increasing in Panama
Real estate investment by foreigners in Panama has been increasing every year since 2005. The United Kingdom’s largest de facto development company, London and Regional is building a cargo airport and high-tech companies throughout the city to serve the Panama Canal Zone with airplanes even more.
Established offices of boat maintenance and repair companies, freight companies, and more than 130 internationally based corporations.
Take advantage by visiting, transferring, or investing in Panama’s fast-growing real estate market.
Panama is safe for real estate investment
Buying Panama real estate is safe and secure for foreigners who have the same rights as Panama. Also, like Panama Real Estate in the US and Canada, a public registry includes deeds with titles.
The US State Department verified the fact when it was announced several years ago that: Title land, and the process of purchasing it, is similar to the America concept, and the work of the land is duly recorded with the public registry.
The Constitution of Panama states that the ownership of property by foreigners will be treated the same as its citizens. Ownership of property is an inherent right under the Constitution of Panama.
Panama has enacted laws to protect foreign investment
Foreign Investor Protection Act
Panama enacted Law 54 in 1998 to protect foreign investment. It is clear from declaring that foreign investors in Panama have the same rights as their businesses as well as their citizens.
Foreigners are at liberty to participate in trade, industry, exports, and imports. The profits obtained by foreigners by their investments can be arranged as they see fit. This includes capital, dividends, interest earned, and profits.
Immigrants have the right to sell their goods, products, and other investments in Panama. Also, foreigners will have 10 years of stability in the continuation of laws regarding taxation, customs, labor, and municipal regulations.
Construction cost
A brief survey of costs kept in mind my interactions with the builders and owners. We have also done general online research that is available to all of us. Based on these sources.
Cost per class
A Panamanian performed a 1400-square-foot, 2-bedroom, 2-bath home in the regular Panamon style for between $ 75,000 and $ 90,000, or $ 50- $ 55 per square foot.
An article from Inside Panama that I read recently puts the cost per square foot at $ 80- $ 90 per square foot for specific construction in Panama.
In Boquete, CMRW Construction’s Carlos Rivera bids $ 70- $ 90 per square foot for average construction.
The Manzar Lari, Casa de Montana construction, has a wide range of $ 70- $ 120 per square foot.
Cost depends on the final
As I understood the description of the properties of construction possible at different grades or different price points, one thing is pretty familiar. As in the US, the major difference in the cost of construction lies in the finish.
Finalists include:
- Patan
- Tile
- equipment
- plumbing fixtures
- The windows
- Doors,
- countertops
The finish price varies greatly. The cost per square foot for a home structure does not vary nearly as much as it does for finishes.
Live in Panama house
People want to know how much it will cost to build a house in Panama.
Living in Panama House has the advantage of being designed by an architect specifically for the tropical climate of Panama.
Living in a Panama home is a complete rethinking of the concept of home” in the tropics. The Living in Panama home is mostly an open-air living concept.
This open-air structure, to which only one part is attached, means that only a small portion of the house requires a full complement of finishes. With this type of design, you eliminate the need to pay for additional windows, doors, air conditioners, insulation, or cabinetry. It is not that you do not finish them, but fewer of them are needed.
Due to these savings, living at the Panama House can be built for $ 56 and $ 80 per square foot, including finishes. This is a huge saving.
The structure of the home, with no finish, is estimated at $ 30 per square foot for the 2-bedroom model and $ 38 per square foot for the 3-bedroom model.
