Real Estate List of Categories
- How much does land cost?
- Can non-residents buy property?
- Are there any specific tax incentives relating to the purchase or development of real estate?
- Real estate taxes, how are they determined and applied?
- How is title protected in Panama?
- Do foreigners enjoy the same property rights as Panamanian citizens?
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How much does land cost?
It depends on what you want and where
you want it.
It is still possible to buy land in Chiriqui Province for under $1 a square meter. It is also possible to pay $60 or more a meter. Location, location, location.
If you have questions about specific properties or simply want more information about what’s available, let us know.
You may contact us here. We will be happy to help.
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Can non-residents buy property?
Non residents are permitted to purchase and own property, just the same as Panamanians.
Panama has very strict property owner protection rights, unlike some other Central American countries.
Financing is sometimes available depending on what and
where. If you are looking to buy property, be certain that you deal with agents who are reputable, licensed and experienced in this market.
Unfortunately, just as there are anywhere else that is booming, there are scam artists at work in Panama selling property they don’t own, promising outrageous investment returns, etc.
Ask lots of questions: is the property titled? Or is it right of possession? What is the difference and why is it important?
Ask about property tax exemptions. Is there water? Is there access? Ask, ask, ask.
As in any case, caveat emptor. Buyer beware. If it sounds too good to be true, it probably is.
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Are there any specific tax incentives relating to the purchase or development of real estate?
If you submit the blue prints of a project and build it within the proposed time table, the cost of the building (excluding the land) will be tax free for up to 15 years.
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Real estate taxes, how are they determined and applied?
Real Estate taxes are established according to the following values: properties up to US$20K, tax free / from 20K to 50K = 1.75% / from 50K to 75K = 1.95% / from 75 K up = 2.10%.
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How is title protected in Panama?
In Panama all property titles are registered at the "Registro Público" (Public Registry) through a bureaucratic yet straight forward process.
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Do foreigners enjoy the same property rights as Panamanian citizens?
Property in Panama is held in fee simple the same as the US.
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