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Tag: Investment
Existing property vs. new build – it depends on what you want…
When deciding on a real estate investment in Panama, investors are faced with the choice between an existing property or a new build. Both options have their advantages and disadvantages that need to be considered. In this article, we would like to take a closer look at the advantages and disadvantages of both investment options and help you find the ideal property for your Plan B in Panama.
Existing Property
Advantages:
- “Teething troubles” are well known: An existing property already has a history, and any defects or problems may have already been rectified. This means you can be sure that you know exactly what you are getting.
- Fast visa application possible: For investors who want to apply for a residence permit in Panama, an existing property offers certain advantages. Once you are registered in the land registry (this process usually takes 2-3 months with our tried and tested process), you can start the application for the Friendly Nations Visa or the Golden Investor Visa straight away.
Disadvantages:
- Older equipment and technology: Existing properties may have outdated equipment and technology. Depending on the age of the property, additional costs may be incurred for upgrades and repairs.
- Higher maintenance costs: As existing properties are already several years old, maintenance costs can be higher than for new builds.
New building
Advantages:
- New materials and technology: A new-build property offers the advantage of up-to-date materials and modern technology. This can lead to higher energy efficiency and lower operating costs.
- Modern “lifestyle” concept: New builds are often designed with modern amenities and a contemporary living concept to meet the needs of today’s residents.
- Lower maintenance costs: As the building is new, there are usually lower maintenance costs as all materials and systems are still in optimum condition.
Disadvantages:
- Delays, developer risk, etc.: The construction of a property can be associated with delays and risks. Depending on the reliability of the developer and other factors, unforeseen problems may arise.
- Visa application during the construction phase only with Golden Investor Visa: If investors wish to apply for a residence permit during the construction phase, they must consider the Golden Investor Visa, as the Friendly Nations Visa is not possible in these cases.
Conclusion: The choice between an existing property and a new build depends on the individual preferences and needs of the investor. Existing properties offer the advantage of known “teething troubles” and a potentially faster visa application process, while new builds offer modern materials and technology as well as a contemporary living concept. When choosing the right property in Panama, it is important to weigh up all the pros and cons.
Our company has extensive experience and a professional network of specialists in Panama. We will be happy to assist you in deciding and selecting the right property in Panama. We offer individual advice and a customized all-round service tailored to the needs of our clients.
FRAPAN-Invest
Klaus Happ’s company “FRAPAN-Invest” advises investors who want to invest in real estate in Panama. He offers advice on all aspects of living in Panama.
The real estate market in Panama is internationally one of the most interesting for investments. We would like to be your trusted local partner and assist you with the initial purchase. Additionally, we can take care of your real estate in Panama in a sustainable way.
Profitable, safe and beautiful:
Investments in Panama
Panama City: Investing in a top location on a budget
Panama City is an up-and-coming destination for real estate investors looking for exclusive prime locations at reasonable prices. The modern high-rise city, the charming UNESCO Old Town of Casco Viejo and the Panama Canal area all offer exciting investment opportunities that make it possible to invest in an urban environment with an excellent capital investment. In this article, we will take a closer look at the districts and present the most attractively priced property project in an exclusive location in Panama City. And each of the projects is suitable for applying for a residence permit in Panama.
The modern city with Avenida Balboa as an attractive investment location for your Plan B in Panama:
In the modern high-rise city near Avenida Balboa, you will find impressive skyscrapers and a first-class infrastructure. Tenants appreciate the proximity to the Pacific Ocean, metro stations and workplaces. The modern high-rises offer amenities such as gyms, pools, children’s playgrounds and concierge services. Buying a property in this part of the city promises an urban lifestyle, high-quality building amenities and ongoing rental income in US dollars.
We recommend the Armonia new-build project as the most attractively priced real estate project in an exclusive location in the modern city. Here you have the opportunity to invest from as little as USD 150,000 in a top location with a renowned developer. Universities, hospitals, subway stations and a new supermarket are in the immediate vicinity. The Armonia project is an excellent capital investment that is interesting for both young investors and experienced real estate buyers. It certainly helps you to implement your Plan B in Panama. I bought an apartment here myself. Click here for more information on the Armonia project.
Casco Viejo, the UNESCO old town, as a historic investment location for a residence permit in Panama
The UNESCO old town of Casco Viejo offers a unique historical ambience with charming streets and restored buildings. Here you will find boutiques, cozy cafés and first-class restaurants. A property in Casco Viejo not only offers a touch of history, but also attractive potential returns when renting or reselling. In addition, the Airbnb rental option offers the opportunity to use the property temporarily yourself. As the supply of properties in Casco Viejo is limited due to its location, future price increases can be expected. Also worth noting are the tax breaks, such as no property tax for 30 years and no tax on rental income for 10 years. Click here for the report on positive development in Casco Viejo.
The Casa Antigua Domingo project offers the best value for money in the UNESCO Old Town for apartments between 300,000 and 500,000 USD. Available apartments directly on Plaza Santa Ana start at just over USD 300,000. These small, split-level apartments with 67 square meters are ideal for Air B’n’B rentals. There are 7 apartments still available as of November 2023. So act now to avoid missing out on this attractive investment opportunity. Click for more information about Casa Antigua.
Airbnb at the Panama Canal
In an exceptional location for Airbnb rentals, apartments ranging from 60 sqm to 106 sqm are being built in Panama City at the Panama Canal. Prices start at $280,000 USD. The prime location offers short walks to the convention center and just a 5-minute drive to the cruise terminal. These apartments are suitable for both personal use and Airbnb rentals. The purchase price includes full furnishings and a parking space. Payment terms are liquidity-friendly, with 70% due upon completion.
The renowned developer plans to commence construction in January 2025, with an estimated duration of three years. The project features social areas with an infinity pool, fitness studio, restaurant, and bar. Since February 2024, a new bridge provides a direct connection to the UNESCO-listed Casco Viejo historic district and downtown. Enjoy breathtaking views of the Panama Canal, the sea, and the islands. The serene location offers abundant recreational opportunities nearby. Experience the beauty of the Panama Canal while earning passive income through Airbnb rentals.
Conclusion
With a limited budget, it is possible to invest in prime locations in Panama City and implement your Plan B in Panama. The modern high-rise city, the Panama Canal, and the UNESCO-listed Casco Viejo historic district all offer attractive investment opportunities for real estate investors seeking residency in Panama and a backup plan in the country. Your decision on where to invest depends on personal preferences and requirements. The modern city offers an urban lifestyle and well-equipped buildings, while the historic district provides a unique historical ambiance and attractive return possibilities. These investments also allow you to apply for your residency permit in Panama.
Take the opportunity to invest in a top location on a budget and implement your Plan B in Panama! Find out more about real estate in Panama and the application for a residence permit in Panama.
FRAPAN-Invest
Klaus Happ’s company “FRAPAN-Invest” advises investors who want to invest in real estate in Panama. He offers advice on all aspects of living in Panama.
The real estate market in Panama is internationally one of the most interesting for investments. We would like to be your trusted local partner and assist you with the initial purchase. Additionally, we can take care of your real estate in Panama in a sustainable way.
Profitable, safe and beautiful:
Investments in Panama