Luxor, Panama
- Properties From $373,000
- Tenure: Freehold
- Rental Return: 6%
- Completed
- No property taxes for 5 years. Non-residents are taxed on Panamanian-source income only. Additionally, Panama does not impose capital gains tax, inheritance tax, or wealth tax.
- Enjoying an tropical climate and low cost of living, Panama is home to many retirees from Canada and the US.
- Panama’s real estate market has been growing steadily, driven by factors such as urban development, tourism, and foreign investment. The country’s capital, Panama City, has seen significant infrastructure development and a rise in luxury real estate projects.
- Panama City is the regional headquarters for hundreds of multinational companies and a true business and financial center. As a result, there is a rich and diversified pool of buyers and tenants from all over the world.
- Golden visa available for investments above $300,000.
The Property
Developed by Giorgio Armani in collaboration with César Pelli & Associates, the project of 3-bedroom apartments aims to bring a unique blend of high-end fashion and sophisticated design to the real estate landscape of Panama. The development comprises residential towers with contemporary designs, spacious living spaces, and panoramic views of the city skyline. The interiors are thoughtfully designed to maximize comfort and style, incorporating high-quality materials and finishes.
Amenities include fitness centers, swimming pools, landscaped gardens, recreational areas, and 24/7 security services. These features are intended to enhance the lifestyle experience of residents and create a vibrant community within the development. Up to 20 year financing available, with up to 80% LTV.
Why Panama?
- 2.5 million visitors per year
- 90% occupancy
- 4.5% predicted growth in property prices in 2024. (Fitch).
- No property tax for 5 years.
Panama has been one of the fastest-growing economies in Latin America, with a strong focus on services such as banking, insurance, and tourism. The government has implemented policies to attract foreign investment, leading to a stable economic environment conducive to business growth. Panama City’s real estate market has been particularly attractive to investors due to its steady appreciation and high demand for commercial and residential properties. The real estate market in Panama City has shown resilience and consistent growth over the years. The city’s skyline is dotted with modern skyscrapers, reflecting the robust construction activity driven by both local and foreign investment. The demand for luxury condominiums, office spaces, and retail properties has remained strong, offering the potential for high returns on investment.
Est. Return
- Estimated Rental Return: $22,380
Location
The Luxor project is located in a prime area of Panama city, just off the Avenida Balboa. This upscale residential development is situated in the heart of the city, offering stunning views of the surrounding skyline and the Pacific Ocean.
The apartments are situated in a vibrant neighborhood that provides easy access to shopping centers, restaurants, entertainment venues, and cultural attractions. Additionally, the location offers proximity to major transportation hubs, making it convenient for residents to travel within the city and beyond.
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