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By: Ikedi Ani-okoye

Panama property

Alistair Powell. CEO of properly company Seven Continenf Investment, comments on the reasons to invest in Panama and highlights property hotspots in the country

There are many reasons to invest in Panama. The country is politically and economically stable, and boasts an exceptional Investment case. Panama City is a booming destination with cosmopolitan vibrancy and is rich faith culture. lt boasts inviting parks, dramatic ocean views, shopping and dining districts, houses of worship, and countless professional services. Tocumen International Airport is iust minutes away.

The tax incentives offered in Panama are rarely available elsewhere in the world. both to the investor and to the corporate market. in addition, the famous canal is being extended and that alone mill bring an additional 40,000 jobs to Panama City. Meanwhile, hotel rooms in the city are virtually consistently fully booked; hence hotel investments are hugely profitable in terms of revenue and capital appreciation.

Key areas for investment within Panama City are Obarrio and Costa Del Este. Obarrio is the banking district of the city, where in excess of 25O banks are located. Demand for short stay/serviced accommodation is phenomenal, with demand far outstripping supply. Fully-managed apartments are available from $320,000 and often boast joined office and conferences facilities. 90% of the nightly room rate is Statically paid to the investor.

Costa Del Este is located within 10 Minutes of the city centre, and is an affluent and desirable residential district. Located upon the airport side of the city, Costa Del Este offers a greener and less chaotic lifestyle. Apartments start from $200,000 and boast world-class facilities.

Typical closing costs for an investment purchase in Panama are 2% of the purchase price. Investors can apply for mortgages with HSBC, Citibank, Scotiabank or through any international or local bank with a presence in Panama. 70% LTV finance is commonly secured to the foreign national investor.

Due to a number of investments in Panama offering a rental guarantee, a positive cash flow commences from day one. Many agree that there's no better place to invest in a primary or second home than Panama.