Why Pre-Construction Sales Are a Go
Today Panama is in the heart of globalization. If you are planning
to invest in the real estate market then it is extremely beneficial to
invest in Real estate in Panama. The Panama real estate market is more
than ever increasing itself in value. If you are investing in Panama
property then you are sure to expect to wield good returns. This is
because of the increase in number of people who are investing in the
country. For European buyers this country is even more advantageous to
invest in Panama property because of the weak dollar which
increases the affordability of the property in the country. The already
low cost of living and the peaceful lifestyle attracts many people from
across the world including retirees and people who are looking for
somewhere to settle down. There is an influx of multi cultural people
as people from all over the world are looking to invest in Panama
property. Therefore the Panama real estate market is a definite profit
earning industry in the country. It is estimated that tourists spend of
over a billion every year in the country. Some of these tourists are
most likely to settle down in the country. There is a shortage of
private accommodation as properties are getting fast sold out. This
would mean that to buy Panama property you are sure of a good resale
value. Also it would do you good to engage in a pre construction sales.
The advantages of pre construction sales in Panama are many.
Pre construction sales are the process of joining a group of
investors in developing a financial property. This is a common term in
Panama real estate because of the increasing development that is
happening in the country today. The opportunity for making a good
profit Panama real estate is attracting people from all over the world.
There are many benefits available for those who invest in
preconstruction sales. The lack of mortgage payments can be considered
as a part of the profit. While the building is under construction the
mortgage is not charged on the building. Also the rate of appreciation
as the building is under construction is sure to bring handsome
profits. The property might itself go under appreciation. This
increases the net worth and thereby constitutes in large profits.
Therefore investing in a pre construction sale in a country like Panama
whose real estate is booming right now is a very wise decision. The
simple reservation can be done with the help of a signed letter. The
rate of credit will be about 15% to 20%. Cash payment is generally
substituted for a letter of credit. The money that you are investing is
mostly held by an escrow agent that is reliable and trustworthy. This
money is only released once all rights that are promised to you are
given and you are satisfied with the deal. The construction of the
Panama property starts as soon as the developer of the property has
sold a set amount of units of the building which is generally 70% to
80%.
