The Benefits of Buying Pre-construction Properties in Panama in 2023

Among the many choices available to prospective buyers, pre-construction properties have emerged as a compelling option in Panama, especially in 2023.

As mentioned in our prior article, buying a property in Panama is not only about acquiring real estate, but is about getting into interesting opportunities in a market which is both dynamic and in constant evolution.

Getting out of the rough years if 2020 and 2021, the current real estate market has shown enough potential to resume constructions of new properties, both in the city and in the interior of the country.

In this article we aim to equip you with the potential and benefits that you can be getting when getting in pre-construction real estate projects in Panama in 2023.

1. Price advantage

When choosing wisely a pre-construction real estate project in Panama, the potential of getting lower prices is quite high, when compare to similar properties which area already completed.

During some seasons, or in some real estate exhibitions, the developers also offer early entry discounts on apartments and houses to attract more buyers and investors, this is a great opportunity to get your real estate property in a favorable price, which leads to the next benefit.

2. Appreciation opportunity

It is a common trend in Panama that once the real estate project is completed, the property price raises significantly, mainly because its is a new unit and with new amenities as well.

By getting early in a real estate project in Panama, you have the benefits of this instant appreciation opportunity once the project is finally completed.

3. Customization of your unit

With most real estate developers, when buying a pre-construction property, it gives you the opportunity to personalize your apartment or house to your liking or based on your needs.

You can work directly with the real estate developer to choose finishes, layouts, and even some design elements, ensuring that your new home suits your preferences perfectly.

Sometimes these changes in the real estate project can increase slightly your unit price, but since it is a pre-construction phase, you can negotiate these payments with the developer in a way that works best for you.

4. New and modern amenities

After many years of development of real estate projects in Panama, in 2023 many developers offers state of the art amenities and facilities, with gyms, pools, sports courts, communal spaces, and co-working places.

These features not only improves your quality of life, but also makes your property more attractive to potential renters or buyers if you decide to sell in the future.

5. Lower Maintenance Costs

When getting new properties, they typically require less maintenance in the initial years, saving you money on repairs and renovations.

Also, the real estate development companies usually provides a warranty period on the construction, which can give you an assurance if some issues come up in regards of the unit.

Investing in pre-construction properties in Panama in 2023 can be a very rewarding venture, with these and other benefits, but it is also important to consider some risks such as market fluctuations, the uncertainty of the construction timelines and of course in some cases, limited information about how the property is going to look when completed. These risks can always be tackled with enough research of the market and the developer, also with the support of an experienced real estate agent.