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Corredor Sur Panama City
165,000 GBP
2 Bedroom
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| Property Description: |
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| "Panama is one of those rare overseas property destinations where property is expected to double in value in the next three to five years, and the cost of living is up to 75 per cent cheaper than in the UK. All this is combined with a lifestyle and landscape to rival the best of the Caribbean. Beaches and palm trees abound in the coastal areas and with crime rates low and a stable, respected government, there is good potential for both investment and emigration.The combination of new foreign direct investment in the country, a Dollarized economy and tax incentives for investors mean that there are plenty of opportunities to make money.The economy and government are now stable, and have been for some time with the support of the US. The Panama Canal is also scheduled to be widened over the next few years to allow the latest breed of supertankers to pass through easily, which will bring increased prosperity to the country as a whole. Property prices in Panama are rising quickly, and have been doing so for at least the past year, making it one of the best destinations for overseas property investment currently available."(source:buyassociation:2008)Los Faros de Panama is the next urban landmark of the city of Panama, with a robust height and beam lights that will illuminate the whole city . The project includes 1,700 luxury residential units spread over 84 floors. Designed by the renowned architect, Chapman Taylor, with ample spaces and glass finishings, every apartment will have astonishing views of the city, sea and the canal. The project includes:CONSTRUCTIONStart Date: November 2007Completion Date: December 2010EXCELLENT & UNIQUE INVESTMENT OPPORTUNITY Guaranteed 20% capital growth p.a Rental yields between 7% and 12% depending on rental structure Guaranteed Rental offered at $1,200 - $1,700 per month 80% Loan to Value financing available Exceptional Payment terms, with only 15% deposit to pay before completion 6% interest paid on any deposit received above the 15% deposit required No VAT on purchase No Real Estate Tax Very low purchasing costs Residency acquired within a year, with only $200.000 investment in the country Once a resident, one can become exempt from taxes on worldwide income Relatively low income tax, with the lowest being 7% and highest being only 27%, and only taxed on the Panamanian sourced income or profits Capital Gains tax can be paid as above, or as a flat 10% on gross income US dollar is the main currency used Largest financial centre in Ibero-America and a growing stock marketLIFESTYLE Warm climate all year around, with 27 degrees average temperatures Numerous paradisiacal beaches and islands, all within 1.5hrs from the city centre Low cost of living Exciting nightlife and world-class casinos in which non of your winnings are taxed Excellent for shopaholics, Panama has the largest duty free zone in the northern hemisphere and the second largest in the world Extremely safe country Leading retirement destination due to its retirement incentives and discounts (a retiree can be as young as 18 years old!), and its latest technology for medicine and hospitalsINVESTORS SECURITY 10 year build guarantee with Mapfre Bank Guarantee with CAM All payments will be made to a safe Escrow account Full due-diligence carried out Full planning permissions and building permits 24hrs live webcam available for all buyers to monitor and follow the construction progressLOCATIONLos Faros is strategically located in the centre of the capital city of Panama, 20 mins from international airport. Its entire South and East sides run along shores of Panama Bay, making it the most exceptional location in the city.PAYMENT TERMS£5,000 Reservation Fee15% less reservation fee, on exchange of contractsNOTHING TO PAY UNTIL COMPLETION (Dec 2010)LATEST NEWSLos Faros de Panama will have a price increase of 10% on the 15th of June 2008. Reservations should be made rather sooner than later in order to take advantage of this excellent opportunity of immediate capital appreciation.NEXT STEPSTo reserve a unit or to enquire further, please contact us on +44 (20) 7384 3220 or use the "request a viewing" and/or "contact us"button on top of this page.NoticePlease note we have not tested any apparatus, fixtures, fittings, or services. Interested parties must undertake their own investigation into the working order of these items. All measurements are approximate and photographs provided for guidance only. |
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| Property Features: |
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| Location |
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Panama City |
| Type of property |
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Apartment |
| No. of bedrooms |
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2 |
| Property Status |
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Freehold |
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Featured Agent |
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Town & Country Spain
Calle Mayor 135, Bajo B
Pilar de la Horadada
info@townandcountryspain.co.uk
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