Las Tablas Panamareal estate is booming especially for the past 3 years. The prices have almost become double in the past year, which is quite different from the international real estate market scenario at present.
Panama is now reinventing itself as the logistics and services centre for the entire Latin American continent. Many people believe that it is turning out to be the Dubai of Latin America. All across Panama, there are approximately 300 and more tower projects that are being built. This means that there are more than 40,000 Las Tablas Panama real estate listings that can be purchased. Even Donald Trump is investing heavily into the real estate projects in Panama.
The real estate listings in Las Tablas Panama are now increasing considerably. The rates are now almost 3 times of what they used to be earlier. Consequently, the rate for Las Tablas Panama real estate listings price is now being quoted around US$ 3000 per square meter. Other construction costs that include timber, steel, cement have also seen an increase in prices over the past year.
Non-residents and foreigners can easily purchase land according to the Las Tablas Panama real estate listings. Restrictions are imposed on non-residents for purchasing properties in Las Tablas Panama. These are applicable for properties on the islands and those that are 10 km from the international boundaries. Non-residents and foreigners are advised to buy Las Tablas Panama real estate listings that come with title for possessions rather than those properties that only have possession rights (known locally as derecho possessorio).
The Las Tablas Panama real estate listings for beachfront properties are quoted at around US$ 1500 – 2500 per square meter depending up on their location. The properties in Las Tablas Panama that are located away from the beachfront are priced lower. The rental yields on the real estate listings in Las Tablas Panama are approximately around 8.5% - 9.5% annually. However, the rents for the Las Tablas Panama real estate properties have somewhat remained stationary for the past two years. The GDP for the past three years has been increasing in spite of the recessionary figures in the rest of the Latin American countries. This has given a considerable impetus to the Las Tablas Panama property listings.
The taxes for the real estate dealings are quite high. The net income from rentals for the properties in Las Tablas Panama is taxed at progressive rates. There are two sets of taxes for Capital Gains. When Capital Gains is derived due to business dealings, it is taxed at progressive rates of income, however the Capital Gains tax is a flat 10% on transactions that are not related to the real estate business activities. There are no inheritance taxes for real estate. Generally, the transaction costs for the Las Tablas Panama real estate listings sale and purchase is 7% - 9% and it takes 40 – 45 days for the registration of the dealings to take place.
Taylor White is an international real estate investor and leads the charge at International Real Estate Listings the worldwide leader in Las Tablas Panama real estate for sale, Las Tablas Panama real estate exchanges, and Las Tablas Panama rentals . Las Tablas Panama real estate owners, agents, and developers are encouraged to create an account, upload an unlimited number of listings, write as much creative property details, include a You Tube property video, and it will be activated as a basic listing for 6 months, free.