Panama is a beautiful country. In recent years, the
economy and local infrastructure has bloomed resulting in a bustling local
lifestyle. In recent years, the country has experienced a 10.4% increase in the
gross domestic product along with a registered food surplus. The country has
been registered as the fastest growing economy in Latin America and it is a
great place to visit. Tourists who visit the country frequently buy land and
homes as retirement homes and this has increased the allure of the country. If you
are interested in relocating or retiring to the country, we recommend you read
our top tips about buying real estate in Panama.
Take your time while looking at Panama real estate for
sale -- Panama is a huge country and it has a varied landscape. The central
region is dominated with mountains and hills with an extreme humid climate. The
coastal region has a temperate climate and in between these two areas, the
region levels out to form plains that have a moderate climate. As a result, you
can actually find properties like beach houses, low lying farms and even
mountain properties if you take your time. We recommend you research the
properties you are interested in and then take your time to compare rates and
deals before you purchase.
Check two to three realtors to find Panama property
for sale -- Panama has a different work ethic and it is completely ok to check
with two to three different realtors to find property in Panama. There is no
multiple listing service or MLS and real estate agents are unregulated by the
government. Moreover, real estate agents do not cooperate with each other to
sell a home and they will not show each other's properties. This means that you
might miss properties that were ideal for your requirements.
Hire a lawyer -- All real estate transactions require
a lawyer to complete the deal. This is particularly true if you are not from
Panama. In fact, we recommend you hire a
real estate lawyer as soon as you shortlist properties to ensure that you are
protected.
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