|
Written by Matt Landau
|
|
Monday, November 05 2007 |
|
Panama is experiencing the kind of real estate boom that could send shock waves throughout Central America. With a huge influx of foreign dollars and new immigrants over the past few years, Panama has found itself in a unique position to grow; however, there are some ugly obstacles that can get in the way.
When preparing to invest in Panama, it can be easy to get excited and do everything at once. But here, we have provided some things to be weary of, and several hitches you do NOT want to encounter on your way to paradise:
The coastal areas and rural regions of Panama are loaded with properties at bargain basement prices, but not all of them are titled. Be very weary of properties with right of possession: properties which are technically not 'owned' by the inhabitant. Most of these properties can become “titled”, however this process can vary in time. A titled piece of property on the other hand, is guaranteed to its owner by the constitution of the Republic of Panama and requires much less cause for concern.
The old saying often applies, “if it seems too good to be true, it probably is”. While Panama is known for its modern skyline and international banking center, it is still the third world, and with that comes some questionable and suspicious real estate-related activity. If you take one look at, perhaps the most closely-analogous country in terms of tourism—Costa Rica—you'll find plenty of chary real estate agents without licenses looking to scam a foreigner like you. Be sure, when you are looking to invest in Panama, to...
The remainder of this article, along with many other chapters is available for sale in our Panama Real Estate Report, the best tool for investment in Panama today! We cover topics like finding a realtor, corporations and taxes, and the all-too-nebulous difference between titled property and right of posesssion (ROP). The report is only $99 HERE !!!!
Comments () |
 |
|
|
|
 |
|
Last Updated ( Monday, August 11 2008 )
|
