Purchase, Sale and Rent of Properties in Panama
Purchase, Sale and Rent of Properties in Panama
Panama, one of the countries in Latin America economically more stable, with great job opportunities, where annually the demand in real estate is much higher.
Having a property in Panama, either through purchase or rent, requires a strenuous job search, price evaluation and available areas, in which you should know the broad market that this country offers to choose the best option.
Do you want to know all about rentals in Panama? Here we will tell you everything you need to know.
Prices and zones
Although you already have a budget of the amount you are willing to cancel and you already have an idea of the property that you are going to acquire with this capital, it is important that you get rid of this anticipated idea, since almost always our expectations are not right.
The cost of Purchase, Sale and Rent of Properties varies depending on the area you visit, but in central areas they are always much more expensive.
A department or house in the center of Panama ranges between 800 and 1200 dollars, with small dimensions and without furnishing.
The price is relative, everything changes depending on whether the property is new and how valuable the sector is. The highest-ranking areas in terms of prices are: Punta Pacifica, Paitilla, Costa del Este, Clayton and San Francisco; sectors where you can also find real estate between 1500 and 3000 dollars that offer more amenities.
El Cangrejo, El Carmen, Carrasquilla, El Dorado and Bethania are placed in our beautiful Panama that can offer you more accessible prices, being these the most popular areas.
Metro Realty Panama has at your disposal the best real estate services and advice in real estate that will facilitate all the work for you, looking for the best options and streamlining the entire process of your search.
On the other hand, in more remote areas of the city you can find homes for much cheaper amounts, with rents from 500 to 700 $ depending on your needs.
These areas in Panama East can be: Tocumen, Nuevo Tocumen, La Doña, La Siesta, Pedregal, Mañanitas.
There are also the areas to West Panama in full growth and a few minutes from the city as they are: La Chorrera, Vista Alegre, Arraiján and Pacora.
Transport
It is well known that Panama has various options of public transport services, however, we must not forget the traffic jams at peak hours and you have to be prepared for this if you live far away from the city and work in it.
It is recommended that if you are a foreigner and you decide to live in the country, look for real estate agents that provide areas near your work or your children’s school.
Requirements for rent
The requirements for the rent of an apartment or house do not have much difference with respect to other countries. When you rent, the most common requirements are: personal data, family members and a copy of your identity document.
As for the cancellation of the property, they usually request two months in advance for rent and one deposit.
You can also request a work letter, in order to confirm that you have a fixed balance to cover the following months.
If you are a foreigner, in addition to these requirements you can ask for the visa or residence and passport number.
Currently rents in Panama are in demand, since foreigners who come to the country to invest are more and more.
Real estate agencies are the key to finding the house or apartment that adapts to your needs quickly and easily, since they will make a list according to what you are looking for saving time and money.
Realize your dream of acquiring a property in the country and follow these recommendations that will shorten the long rental process.
What do you expect to start looking for your dream home in Panama?
