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Yesterday I met with one of the largest developers in Panama. They built the largest mall in latin america and have another one under construction close to where I live.
They also have multiple house and condo developments throughout the country… in all different price ranges. They have a new development that has 2-bedroom ocean front houses for only $80,000 – $150,000. This is a really great price. and in an area that is about 30 minutes outside Panama City. I think these properties will appreciate a LOT over the next couple of years because of their location. The average appreciation in Panama City is 26%!!
There are NO property taxes in Panama for properties priced at $120,000 or less. Property taxes are only .50% for over $120k to $750k. And insurance is about $200 a year. There is a steady supply of renters and these would make great retirement homes too. I’m not sure what the deed restrictions are for doing AirBNB in the developments.
Just down the road, similar properties sell for $300,000 or more!
In early March, I’m meeting with the developers again and going out for another look at these properties.
Anyone interested in coming to Panama for a tour of their properties?
Hi Jackie and fellow cash flow members.
Are there any dates set for meeting with developers in Panama for looking at developments and possible Condo purchase, I would be interested?
Are there any beach areas in Panama that a person can master lease Condos, houses, or apartments and possibly use them as short term rentals on Airbnb, VRBO or other websites?
I know that Panama City is overflowing with rentals on Airbnb, I’m just thinking other beach towns might not be so overly populated with STR’s. I have access to systems that are pretty efficient at managing these STR’s with some key people for boots on the ground.
I imagine some of the nicer beach towns are pretty hard to find rentals. Any ideas on beach towns Santa Clara, Colon islands, San Blas islands, Coronado,
Bocos del Toro for STR’s. Any thoughts or ideas on this scenario would be appreciated. Thanks for all the sharing and input on this wonderful CFD site, and thank you Jackie for all you do for us and the wealth of information you provide for us, what a goldmine! Do people actually realize how much value they are receiving for joining Cash Flow Depot?
Best Regards, GaryI don’t have any dates set yet.
On March 7th, I’m flying back to Panama City where I’ll meet the developers. We’re taking a helicopter to go see 3 of their beach communities. I’ll take video and pics and let you know what I think. The price is certainly right. But I need to see them up close and personal I know they will do leases too and lease to own. I will discuss seller financing too.
As far as master leasing, there are a lot of beach areas where you can do that. And there will be a glut of rental properties once the snowbirds leave the end of March or April. San Blas would not be a good area for master leasing.
Thanks for the kind words about CashFlowDepot.
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