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Key selling points
- Prime Panama City location
- 30% deposit
- Anticipated yield of 7-8%
- Government tax incentives
- Attractive payment schedule
- 70% borrowing available
Key Facts
• Prime Panama City Location
• Close to airport, Panama Canal and Bay of Panama (Pacific Ocean)
• Family-owned developer with 35 years' experience
• Only 15 from the 50 in each of the towers can be sold to investors
• Prices from just $187,550
• Anticipated yield of 7-8%.
• Government tax incentives (e.g. no property tax for 10+ years)
• Attractive payment schedule
• 70% borrowing available
Background
San Francisco is THE place to live in Panama City. It's a quiet location, surrounded by beautiful houses with stunning architecture, in a traditional and exclusive residential zone, very close to the sea, but in the centre of the city, that allows you to enjoy an incredible vistas of both city and sea.
Situated in a superb location close to all amenities, you'll find restaurants, banks, schools, supermarkets and all other key stores.
A few blocks away is one of the biggest shopping malls in Central America, with international and well known brands at excellent prices, a complete food court, cinemas, and more.
Property Investment in Panama
If you've followed any of the major survey agencies around the world that rate places for retirement, Panama has been on top of the list in many, and for a few years running. So, if you're looking for a place outside U.S. borders to retire, Panama should be given very serious consideration. Panama has a lot going for it. And even if you don't plan on retiring or living in Panama, Panama has also rated the very highest in real estate investment opportunities for those of you who would like to make their money from a distance.
One can invest in property or buy a place for investment in any region of Panama, but money is on properties in Panama City. Panama City is one of the top three metropolitan cities of world that one can afford to live and enjoy a good life in. Panama City has world-class restaurants, five-star hotels, world class casinos, international banks, hundreds of multinational businesses, a Manhattan-type skyline, every imaginable luxury ... all at about half the price you'd pay in Miami. And it's only a few minutes to a few hours to the beaches, mountains, and countryside of Panama itself. It has all the infrastructure one might want AT HAND and just a short distance from the romantics idea of paradise.
On the esthetic side, few places in the world offer spring-like weather year-round, a low cost of living, safety, security, peace of mind, beautiful landscapes. It has mountainsides covered with flowers and planted with coffee and beautiful waterfalls ... not to mention the best “pensionado” program (retirement program for foreigners) in the world.
Here are a few reasons the international guru's think Panama is THE place:
• Direct foreign investment in Panama for the 5 years ended 2001 was approximately $3.5 billion.
• Currency is the US dollar
• Low inflation
• Excellent tax benefits
• Secrecy laws strictly enforced
• Equal treatment of foreign and local citizens
• Favorable incorporation laws
• Large bi-lingual labor force
• Diverse economic base including banking, shipping, insurance, tourism and free zone
• Ranked first in the region for low cost of living by the Tripartite Committee
• Stable political system
• The Organization of American States (OAS), the Interamerican Development Bank (IDB) and the Economic Commission for Latin America and the Caribbean (ECLAC)
And Panama City in particular:
• It is at the convergence of two continents at the Bridge of the Americas
• Rated the most " International City " in Latin America
• It is poised for tremendous growth in the next decade
• It is within an hour of some of the finest fishing and or bird watching in the world
• One hour drive from pristine beaches and cool mountain oasis
• Located on the Pacific coast, yet it is only 45 minutes to the Caribbean
• Increasing number of expatriates
• One of the safest cities in the hemisphere
• Excellent infrastructure (internet, telephone, roads, water, etc)
The project
Great ambiance, exclusiveness, innovation, strategic location, is this magnificent project "7400 San Francisco". Two independent towers of 29 floors each, with a practical and functional architectural floor plan, only 2 units per floor, with elegant lobbies, 24/7 security, 2 high speed elevators, and more.
The amenities
7400 San Francisco is a modern, realistic and affordable concept for today's families. You will find all the amenities you need at your own home!
Each tower has an independent recreational area with swimming pools, barbecue areas, terraces, party halls + kitchen, gazebos, and more, but also share some great facilities as: green areas, play zone for kids, basketball court, racquetball court, fully-equipped gym, a spa with sauna, massage room and bathrooms with showers, all in a 2400 mts area.
The apartments – East Tower
The apartments will meet and exceed all your expectations, with an ample and naturally illuminated kitchen, spacious living room, laundry, balcony with spectacular view and more.
The monthly maintenance fee is US$185 and this includes maintenance of common areas, 24/7 security, broadband internet, some utility bills etc.
Exact price and availability can be found on our website.
Closing costs are around $1,750.
The apartments – West Tower
The monthly maintenance fee is US$150 and this includes maintenance of common areas, 24/7 security, broadband internet, some utility bills etc.
Exact price and availability can be found on our website.
Closing costs are around $1,600.
Payment Schedule
The bank will ask for a 30% deposit, and this amount has to be paid to the developer in 3 equal payments.
- 10% at the signing of sales agreement
- 10% at breaking ground (within 30 days from now)
- 5% 90 days later
- 5% 90 days later
These units will not complete until Q4 2007.
According to our financiers in Panama (Banco General/HSBC/Scotia Bank), 70-80% financing is typically available for foreign citizens, however that may be lowered if your personal finances dictate that.
The mortgages are variable rate, capital repayment, and the current rate is 5.5-6.5%.
There are no closing fees, although you should budget for around 1.5% for legal fees etc.
Rental Income
A maximum of 40% of the properties will be sold to investors, with a minimum of 60% sold to local owner occupiers.
A nearby development (3 blocks away) of smaller size units is currently being successfully rented at $1,000 per calendar month.
The area of San Francisco is proving extremely popular with local Panamanians right now. The sales office for the development is opening in late July, so demand from locals is expected to see a huge rise in sales at that stage.
With the appliance pack but without furnishings, the expected rental income is therefore around $1,000-1,200 per calendar month, from which the rental management company will take a 10% management charge.
Thus, you can expect an income of around $10,000 per annum from this investment - a solid yield of 7+%.
Reservation
All we require is a £1,000 reservation deposit paid to secure the unit at today’s prices.
Please contact us as soon as possible to discuss
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