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Buying Property in Panama

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Buying real estate properties in Panama has never been so safe and easy. In fact, the only problem one might encounter is coming up with a final decision on which locations to acquire one. From the modern metropolis to real estate by the mountains and beaches, everyone who considers owning a property in Panama will be very happy of getting more of what they want at a little cost. No wonder Panama is fast becoming an international destination for foreign residents, retirees, and real estate investors nowadays.

Panama City, the country’s capital, boasts of numerous high-rise condos full of amenities and luxurious but affordable apartments located just near shopping centers, grocery stores, banks, pharmacies, parks, etc. You can choose anywhere from San Francisco, El Cangrejo, La Cresta, and Bella Vista just to name some of the most popular in Panama City.

How about a place you would love to call home that is beautiful inside and out? Then, you can opt for the slightly expensive but popular places like Punta Pacifica, Punta Paitilla, and Marbella which are just located along the bay of Panama; offering its neighborhood panoramic vistas of both the ocean and city. Now, real estate outside of the city is what everyone considers a haven - great climate, roaring rivers and misty mountains ideal for those who want to be close with nature.

If those are not enough, consider these advantages every foreign investor in Panama is entitled to:

• As a foreign resident, you are not required to pay property taxes for 20 years if you buy or build a new house in Panama.
• Foreigners can buy and own property anywhere in Panama with the same rights and protections as Panamanians citizens.
• Panama's Pensionado Program for foreign residents includes benefits such as tax breaks, discounts on public transportation, medical care, prescriptions, restaurants, airfare, and much more.
• The lack of hurricanes and the U.S. dollar as currency are some of the many additional reasons to move and live in Panama.

However, even if the government of Panama had designed laws to ensure the safety of foreign investors in their country, as a general buying rule, it is always important to understand the process of transactions before closing a deal.
First of all, Panama has three different types of property namely; Titled property, Possession Rights property and Concession Property. Whichever type of property you choose to acquire, real estate experts recommend buyers to take extra precautionary measures by seeking professional help. We, can help you decide by offering comprehensive real estate tour.

It would also be important to note that contracts written solely in English hold no legal weight in Panama and that all judicial process in this country are conducted in Spanish. In view of the fact that signed contracts are legally binding documents, real estate buyers must ensure that they have read and completely understood everything that is written in the document before signing. Click here if you need translation service.

Please see our property listings below or contact us for more information.
Panama Property Listings