Relying heavily on a services sector, and offering a stable economy and a long history of peace, Panama is still an attractive place to reside, retire, or invest. The Panama Canal is, of course, the largest employer, and Panama City is the largest city because of it. China and the United States send the most ships through the canal, and a $5.3 billion expansion is currently underway.
Property in Panama has held its value very well, especially compared to some other countries such as Italy or Ireland, where prices have plummeted. For owners looking to reap the profits of their earlier investments, now is a good time to consider selling. Once the Panama Canal expansion project is complete, the capacity of the canal will more than double and it will be able to accommodate extremely large ships, which cannot clear the canal currently. Business is set to boom, and selling your Panama property now, when workers and support personnel are flooding into the country, should be an extremely smart move.
People who own Property in Panama City will find an even larger market for their houses, apartments, or even bare land. A metro system, the first of its kind for the country, is also currently under construction and scheduled to be finished by 2014. This will make transportation in and around the capital city much easier, and if your property is near a station, you can reap the benefits of that prime location. Sell now when you can receive the most profit from your Panama real estate.
When marketing your property, remember to mention the progressive tourism and investment laws that provide pensioners with huge advantages over other countries. Especially if your property has amenities that are attractive to a pensioner (one storey, low maintenance, or a unit in a secure building), listing the benefits of retiring to Panama can be a helpful sales tool. Remember that Panama offers foreign pensioners, especially, a host of cost-saving benefits. Everything from discounts on closing costs for home loans to low-cost airfare, medical, dental, and other healthcare costs can be had by retiring to Panama.
Property for sale in Panama range from exclusive villas on the waterfront to small, secluded bungalows where one can escape to paradise. However, if you look at the adverts, you will see that not very many of them mention the benefits of living in Panama. Besides focusing on your property, lovely though it may be, include some information about the area in which your property is situated. A picture of your favourite pub or watering hole, or favourite place for shopping, can make a potential buyer feel right at home and might make the difference between getting an offer or not.
When considering selling, get a well thought-out estimate from a real estate agent so you price your property realistically, instead of pricing it against properties in other countries that may be more depressed.
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