Investors looking for alternative real estate markets in which they can enter the Buy to Let (BTL) sector and receive good returns on their money may want to consider the merits of Panama City. The destination was recently named as a top place for BTL investors by Global Property Guide. According to the publication, those who buy a home here with the intention of renting it out can expect average annual yields of 9.08 per cent, while it also received a five-star rating as a long-term prospect.
Founder of The Panama Report Matt Landau explained why the location in Central America is popular among BTL investors - with one of the biggest attractions the price of property in the country. Another factor that may encourage people to consider Panama City - and elsewhere in the nation - is that foreign owners have the same right to buy real estate here as locals. He added that there are also tax breaks for those purchasing particular properties and visas available that provide other benefits.
Meanwhile, the legal side of making a BTL investment in Panama is more straightforward than elsewhere, Mr Landau added. "A fairly transparent public registry assures buyers that titled property is theirs for good. Panama's economy is also tied to the US dollar and most attorneys speak English, making technicalities smoother and investor-friendly," he stated. Furthermore, it should not be too hard to find renters for an apartment or house in Panama City, Mr Landau revealed. "Panama offers a robust tenant pool, with many foreign retirees and businessmen choosing the rent-first, buy-later approach to test compatibility," he asserted.
Panama City is not the only up-and-coming destination that may suit BTL investors looking for high yields and good prospects abroad. The Global Property Guide research also singled out Lima in Peru - with the market here described as "spectacular" and annual rental yields averaging 10.56 per cent - as well as Amman in Jordan and Bogota in Columbia.
- Wednesday 07 December 2011