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Profit from Panama Rentals

Posted July 10, 2008

“There is one of the world’s most exciting short-term rental yield opportunities at play today in Panama City.” — Ronan McMahon

by Ronan McMahon

Baltimore – (TFN): My former Panama condo is now a boutique hotel suite. I’ve just seen the photos.

The Panama City condo market first got my attention 4.5 years ago. Back then, many prime ocean-view condos were more than 279 square meters (3,000 square feet). I considered these to be a risky buy, as they were too large (and expensive) to sell to the new market of retirees, second-home owners, or visiting business people.

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Panama has long been the prime choice for retirees, second-home buyers, and property investors alike. Many have retired there in style, enjoyed terrific vacation homes, and made money. The country deserved the #1 spot on International Living’s Global Retirement Index for six straight years. It’s been a winner.

But the editors at International Living decided to dig deeper…

They’ve tapped into the local market and found investment and lifestyle properties that are so affordable many people thought they were gone…

- Apartments in Panama City for less than $70,000.

- Prime building lots on the edge of town starting at $25,000.

- Good rental apartments starting at $350 per month

- Beachfront lots on the shimmering Pacific at $125,000 for almost an acre… with small beachfront parcels starting at an amazing $38,000!

- A rolling green 10-acre farm in the hills of Chiriquí for just $30,000.

It’s the hidden, affordable Panama. A place where you can still live on $1200 a month.

Today, there is more happening in Panama than could possibly be shared with you in just an article. That’s why they are inviting you to join them in Panama this summer…

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So instead, I bought a 120-square-meter condo right on Ave de Balboa off plan. This one-bed, one-bathroom condo—without a maid’s quarters—was the perfect size and layout for retirees, second-home owners, or business people. The broader the market is for end users, the lower the risk for the pre-construction buyer. I paid $1,225 per meter for a 120-square-meter condo. On completion, I listed my condo, and sold for 60% more than I bought for.

Today, there is still an opportunity in Panama to buy condo rental units like the one I bought and sold. I don’t expect to see the same level of capital appreciation I enjoyed during the build period of my unit anytime soon, but there is one of the world’s most exciting short-term rental yield opportunities at play today in Panama City. Read on to learn more.

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