Panama City real estate purchase is legal and available for all the foreigners. Foreign investors buy there houses in the capacity of their second house, rest, when retiring or just to invest their money. But what is the main zest?

The price. Panama City real estate is rather cheap. They cost three times cheaper than the USA property does. Panama real estate purchase is safe. The foreigners have the same rights as the Panamanian do. There are more than a dozen of laws that were passed to protect the right of the foreigners. There is a great variety of property in Panama: one can choose from luxuriant high block apartments to tropical houses.

Real Estate Market
There is a real splash of the interest to the Panama real estate today. It promotes real estate price growth to 25 % a year. Now the price of a square meter varies from 3000$ to 300$ depending on the location of the object.
Panama City real estate purchase procedure

One can work with the realtor who knows the real estate market and can explain him all the advantages and disadvantages of any property. The panama government takes 2% of the tax for the disposal of property in Panama. This sum is based on the property cost. As it is done everywhere one should pay for notary public tallage. They will vary from $ 200 до $ 300. It a common practice but the object of the tallage payment is defined in the deal by the two sides.

The first deal stage will be a preliminary contract signing - Promesa de Compra y Venta. It includes any conditions that were discussed about by the deal participants. Together with the deal the seller gets the advance payment usually it is 10 % of the real estate cost.
One should know that all the juridical contracts are made in Spanish in Panama. If you don’t know Spanish well ask for the contract translation – this service should be provided by your lawyer for an additional pay.

After the contract signing the seller should pay 2% of the tax for the real estate disposal. It takes over 30 days but it can even take longer against the deal complication. The preparation procedure takes over 10 days.

Taxes and Expenses
Notary public service – 2% (paid by the customer)
Real estate disposal – 2% (paid by the seller)
Realtor service - 3-5 % (paid for the seller)

Income tax
Minimal income tax in Panama is 2% (3000$), maximum is 30 % (200 000$).

Share This

Few people know that there is a place with virgin beaches and practically “virgin” real estate market. Albania is considered to be the cheapest real estate property in the world.

The country of turquoise rivers
It is little known about Albania. In general it is a nice small state with magnificent nature, hospitable people and unique coloring.

Albania’s territory is 30.000 square kilometers. There is a remarkable seaside that is similar to that in the south of Italy. Tourists can also admire there luxuriant mountains that are perfect not only for relaxing walks but for downhill skiing.

Among the country’s advantages there are some minuses that add a blot on the landscape. The most serious Albania problem is language barrier. A great number of Albanians speak only their native language and it’s really difficult to find a person that speaks English. And the second con is bad roads. And it also takes a lot of efforts to get to Albania. And there is no direct traffic between countries there. But the original isolation of the country makes it “untouched” and therefore the cheapest real estate property country.

A house with a view to Italy
There is no any sense to buy real estate in huge cities because it’s not pleasant to live in the country cities as they are dirty. But sea towns property will be a perfect habitation for those who dream of living at the seaside or for those who makes business plans.

Simple but difficult process
The process of purchasing Albani real estate is simple. It takes 1-2 months to close a deal. But the difficulty is in the fact that the documents there are often forged: exceeded the time limits, completed wrongly and just fake.

That’s why it is necessary that the realtor company representative offers you your native language documents with all possible guaranties that the bargain is juridical.

Hurry up!
Now Albania land areas can be purchased practically for nothing. The price of 1 square meter is from 55 to 150 euro. Even high rate houses at the seaside cost 450 euro for a square meter.
Flats are also very cheap. In Durras the flat 60 square meters in houseroom costs 30,000 euros. Moreover Durras is a huge industrial city and a big sea port. It is near the capital and the airoport.

The country has few tourist objects but the influential newspaper New York Times listed Albania as one of the major tourist directions of the year 2007.

If you made your mind to purchase
As it has already been told the closure of a deal will take 1,5 months. The prices of all the procedures vary from 4 to 40 euros. The most expensive will be notary public service.

And don’t forget about the most important: be vigilant when closing a deal!

Share This

A house owner can play a major role when selling a house. That’s why one should better follow some tips on selling a house to make a perfect deal.

1. First Impression
The owner should make a pleasant atmosphere for a buyer. Well-groomed lawn, carefully trimmed bushes will mollify your buyer just on the entrance. If it is autumn take away leaves, if winter do the same with snow.

2. Spend some time for your future profit
Tidy up the living room, bathroom and kitchen. If your furniture doesn’t look very fresh or the paint has cracked think how to refresh the first impression by minimal actions. It’s better to show the buyer how great your house looks than how great it WILL look if…”.

3. Check taps and light bulbs
Cocking teaks give a pain in the neck, dirty wash basins make one think about the wear sanitary technician. Don’t make insignificant disadvantages beguile from advantages!

4. Don’t make obstacles on the way to the sale.
Make the apple-pie order. If your house is full of open cabinet doors and jutting out wardrobe boxes be sure that this is what the potential buyer will remember from your house. Your minimal efforts will help you to do the house justice.

5. Leave some free space in the house
Remember that the potential buyer not only looks for a comfortable living space but the area for a closet. Make sure that your subsidiary rooms aren’t encumbered with unnecessary things.

6. Make your bathroom shine
Remember that bathrooms sell the houses. That’s why make them shine. Repair the damages and ugly joints and put there good towels and curtains.

7. Make the bedroom a place of dream  
The bedroom should strike by its comfort. Rid of superfluous furniture. Just put a bright bedspread and new curtains.

8. Show your house at day time
Open the curtains to make your property light and cheerful while sun is shining

9. Care of your pets
Cats and dogs are the best friends except the cases when you show the house. They all have a talent to get under somebody’s feet. That’s why hide them somewhere.

10. Think about the sound
Rock’n'roll will undoubtedly live for ever but it can kill a perfect deal. Switch on the TV and turn on a quiet classic music.

11. Relax.
One of the most important tips on selling a house is to relax. You should be well-disposed while showing a house. Everybody wants to have a deal with pleasant people.

Share This

Real estate prices, covenants and conditions of buying and selling and other innovations change and appear every day. That’s why we’ve summed up all the general real estate news and info to keep you informed about all the changes at the real estate world market.

The flavour of the month is developing countries real estate. Specialists predict the prices to houses and flats to grow for some years until they reach high developed countries level. That’s why one should pay attention at the real estate in Turkey, Bulgaria, Montenegro and Croatia.

Turkey flats are more available. Two-room flat can be bought for 37 euro. High quality Bulgaria domicile is from 800 to 2000 euro for a square meter. The house will cost not less than 100.000 euro. Though if it is located far away from the city its cost can make out 5000 euro.

Montenegro real estate prices growth is lower than in Bulgaria does but the prices are cool: from 700 to 1700 for a square meter. Croatia real estate is the most expensive moreover public utilities are also rather expensive there.

The most favorable conditions for real estate owning for foreigners are in Montenegro. Real estate purchase gives one the right for permanent residence, the deal doesn’t need personal attendance and the procedure takes 2-3 hours.

The experts consider that it is very advantageously to buy the south countries real estate not only for living but for business having or resale.

Some more General Real Estate news and info
The world highest tower architects will do Indian hutments design

The American architectural office Skidmore, Owings and Merrill, that created the project of the highest skyscraper Burj Dubai will redesign Indian hutments. The project cost is estimated in $1 mln.

The gigantic Pyongyang hotel will be completed after 20 years building

The building of the world biggest Ryugyong Hotel in Pyongyang will be completed. The building of the 105th floor was begun in 1987 in the North Korea.

The first Europe 6-star resort will have been built by the year 2009

The building of the first Europe six-star resort Conrad Palacio da Quinta Resort&Spa in Portugal will have been completed by the year 2009. Its project includes the hotel under Hilton direction, spa-complex and other infrastructure.

Donatella Versace will do the flat desugn of the Israel millioner

The designer Donatella Versace will do the interior of the elite flats for the Company of the Israel millioner Lev Levaev. His Company Africa Israel Investments intends to turn Metropolitan Life Tower at Madison Square Garden to suite apartments.

Share This

Real estate property is the best capital investment. And apartments or villas in popular tourist resort make up even bigger advantage. Cyprus is the ideal place for capital investment. Warm sea, tender sun and wonderful ecology, what can be better?

Buying real estate in Cyprus customer receives good house in Cyprus where he can live permanently or come there to relax anytime he wants. While being absent one can lease the house and an owner will get a good benefit from it. But the main reason to buy Cyprus real estate is capital increase. Cyprus real estate sales are increasing. Since 1998 real estate prices have been increasing here. Against the unit and its location average capital increase makes up 15% a year. This tendency should continue to be for 10-15 years.

There are some reasons for this fact. So far as Cyprus is an island, land areas quantity is not limited. Demand for elite real estate causes demand for land, and it is increasing in price permanently influencing on apartments, townhouses and villas cost.

Cyprus real estate advantage is in the fact that it is a popular tourist resort, and that’s why real estate units are very profitable here. As soon as the owner wants to sell it he can do it easily and get much money.

The other advantage of Cyprus real estate sales is Cyprus safety. Today it is one of the calmest places in the world. The island is safe not only for life but for finance.

Cyprus real estate sale
Real estate buying procedure in Cyprus is rather simple, but it guarantees all the property rights what is very important for a foreign investor. The foreigners can buy real estate there measuring 2600 square meters. In some cases it is allowed to buy a house measuring 3.5 square meters. The real estate is paid in foreign currency. Bank transfers and cheques are allowed.  Credits in foreign currency for foreigners are also available. The credit is lent out at the rate of 50-70% for 35 years.

Investment juridical defense
The customer gets the contract of the real estate owning after he pays off real estate cost. Cyprus juridical system is based on the British model and guarantees some levels of customer legal protection. After the contract signing and first call paying the contract is registered in the department of land investment and thus nobody can cancel the contract except the owner.

Share This