A few days ago, was published the first part of our article about the reasons for investing in beach apartments in Panama, which explains an analysis made by Gogetit, where we present results and opinions of more than 600 users with the aim of knowing which beach area in Panama are people more interested and willing to invest.
If you want to know more about this, we invite you to take a look at our article: Why invest in beach apartments in Panama – Part 1.
In this second part of the article, we will talk more about the reasons to invest in a beach property.
What motivates people to invest in a beach property in Panama?
More than 600 users were surveyed and told us where they preferred to invest. But what is what really motivates them to do so? Here are the results:
Currently, fashion is living in an apartment. This trend, which is a reality in most of the country, began in the capital and in the metropolitan area and then expanded to other entities. Today no matter what city living, anywhere we see how new developments that offer attractive sales departments arise.
The boom of this type of housing, coincides with that of the construction industry a couple of years ago, when the key was opened to bank loans and people began to prefer apartments to live. Builders got the message and began to build large buildings.
The preferred type for apartment rental beach projects is between 8 and 25 floors, in order to maximize the views and get more ground. In these cases, the residential units ranging from one to three bedrooms, with sizes ranging from 80 to 200 square meters. You can find a lot of active residential projects, both completed and under construction.
Main reasons to invest in a beach apartments
1. Strategic location – Near the city and the beach
Panama has a privileged geographic location. Virtually all beach destinations have 12 months of good weather per year, as the weather in Panama is ranked among the best in the world. Besides having nearby beaches everywhere and the city is less than 40 minutes in many cases.
2. Payment facilities
At this time, supply is high and demand is low. Therefore, residential projects have payment facilities which allow the ease of having a property. A residence or beach apartment as an investment, not only gives the opportunity to enjoy a few months of sun, but also to enjoy the good performance and optimal capital gain from the high demand, weather, view, location, rooms and services.
3. Dollarized Market
The profitability of properties of all types in tourist destinations is excellent, because the Panamanian real estate market is a “dollarized” market, which guarantees investors that their properties will not lose value with fluctuations in the exchange rate and it is resulting in a much shorter return on investment compared to other investments.
There are people who are willing to pay for a second home in a beach area. Many families choose to enjoy them as a family and spend quality time, so as many, 38% motivates the project price to invest.
5. View and first class amenities
Panama beaches are beautiful by where you want to see them both the Pacific and the Caribbean. Panama has a vast range of amenities: Tourist infrastructure that offers modern airports, shopping areas, dining and entertainment centers world-class; hundreds of highly competitive fields and golf with breathtaking views; great natural beauties such as beautiful beaches and clear blue waters.
6. Social Areas
They offer many benefits and facilities as well as spaces for all kinds of activities. Today amenities and social areas account for between 4% and 9% of the salable area of residential projects.
You can also find the Top of the social areas that can not miss in a building, based on our recent analysis.
7. Final touches of the apartment
The final touches of the apartment are important because many people consider the space, size, modern and comfortable it may be. Therefore, it is within the things that motivate people to invest and no wonder, one has to fall in love with the place in which to invest.
8. End of construction works
Only 5% of respondents said that the project has to be finished. For although this is important, we must consider that many projects are sold before they are finished, and if you are the type of people who agree with this point, you can walk you through the visual models (renderings) to make a idea of what would be the final draft.
All these reasons have contributed to the Panamanian real estate market in beach destinations, it constitutes one of the best investment options worldwide.
Nine out of 10 people between 20 and 40 years old, prefer to live in an apartment. While in people over 50 years, the trend is reversed.