Continuing our series on investment topics we would like to cover investment properties that have been out of the box until recently.
To reference The World Is Flat: A Brief History of the Twenty-first Century | by Thomas Friedman, The world is getting flatter by the year. By that, we mean the hurdles we have to jump to go places and do things are getting easier to overcome as time goes on. The idea of investing in properties outside the country does not seem so far-fetched. One popular location is the central american country of Panama. it is warm they use the dollar and many, many people look to Panama as an appealing place to retire. Investing in a house or a flat in Panama to rent out to retirees is a good real estate investment stratagy. Even if you don’t plan to go there yourself.
Panama’s housing market is now depressed. Homes sales and residential construction activity are both declining. Property prices have fallen in most major cities. Good news for long term investors.
Foreign buyers have buoyed Panama’s housing market in recent years, pushing up prices by 5% to 10% annually. Foreign buyers tend to be from the United States, Europe, Canada, and Latin America. This is good news or investors with long term plans. Buying property in Panama for retirement rentals makes great sense.
It’s a much less daughting task to secure funding in this market with lower prices sellers will make a better deal to get the deal closed. While the rental market value continues to show positive growth.
Panama: firm prices, yields good
Gross rental yields in Panama have declined somewhat over the past few years. But the gross yields in Panama – the rental return earned on the purchase price of a rental property, before taxation, vacancy costs, and other costs – are good, by international standards. Yields range from 5.7% to 7.3%.
There isn’t much difference, in terms of yield, between beachfront and further back. Beachfront is more expensive, but you get a better rent. Smaller apartments do tend to yield more.
#panamainvestment #Entarispowerful
Where in the world would you consisder investing in retirement property, leave a comment here.
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Panama is statistically speaking one of the safest countries in Central and South America. Even so, there are things about Panama that may make you think twice about visiting this country: theft from tourists is common, pickpocketing happens, muggings can occur too. Be prepared for the normal sorts of things that can go wrong in any city.
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Copyright © This free information provided courtesy L.A. Loft Blog with the information provided by Corey Chambers, Realty Source Inc, DRE 01889449; MPR Funding Inc NMLS 2000513. We are not associated with the seller, homeowner’s association, or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com, Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties are subject to prior sale or rental. This is not a solicitation if the buyer or seller is already under contract with another broker.