Before buying any property, one should have a clear understanding of the real estate. In case one is not well versed with the industry, it is always prudent to seek the help of a professional regarding the entire purchase process. The demand for real estate in Panama is high. This situation has increased the cost of property in the region. Adrián José Velasquez Figueroa points out that it is necessary for one to have adequate knowledge about market trends regarding Panama’s real estate. This way, one will be able to buy the right property. Below are Adrián José Velasquez Figueroa’s tips for finding a property in Panama.
I.Buy below market values
In order to make profits, one should purchase rental properties that are sold below their market values on Tumblr. To this end, you are required to undertake a comprehensive research and consult a reliable broker in order to gain knowledge on Panama’s real estate. Learn about the rental charges for different properties so that you buy the ideal property below market values.
II.Consider the location
Due to high demand for real estate in Panama City, some neighborhoods are too expensive. It is prudent to compare different properties before purchasing them.
III.Be informed about Panama rental laws
It is wise to read about the Rental Laws in Panama. This way, you will be aware of the requirements for real estate in Panama City.
IV.Reliability of the property’s services
Look at the availability of services like parking, gym, social areas, security and pool since most clients prefer properties that are close to different social amenities.
V.Inspection of the property
The quality of most condominiums in Panama varies due to the way that they are constructed. It is advisable to inspect the construction quality by talking to different experts and reviewing the history of the developer according to Adrián José Velasquez Figueroa. One should also look at the construction materials used and whether the condominium needs remodeling.
If you plan to live far from your property, get an administrator to look after your property in order to avoid unnecessary problems according to Figueroa.
VII.Analyze the market
Analyze the market to ensure that the money you are investing in the property is proportional to the size of the same.
VIII.Management of public services
Tenants should pay for services like electricity and water. This way, if the costs increase, you will still get your income. In addition, the tenants will be cautious of their usage of these services.
About Adrián José Velasquez Figueroa
Adrián José Velasquez Figueroa is a Venezuelan professional executive. Currently, he holds three senior positions. Adrian is a president, treasurer and director in five companies based in Panama. As an active contributor in the business community of Panama, Adrian mentors young leaders. In addition, Adrián José Velasquez Figueroa regularly offers his expertise on business development. Adrian is highly knowledgeable on market trends, particularly in Panama. He uses this knowledge to offer guidelines on how people can start and run successful business.