Panama Real Estate and Property For Sale

DEVELOPER FINANCE IS AVAILABLE FOR US CITIZENS OR FOREIGNERS FIGURES ARE BELOW

Time of Completion 60 DAYS

Annual Maintenance Fee  STUDIO: $1,500 - 1 BED $2,700 - 2 BED $4,260 maintenance fee includes Building insurance - Outside maintenance of buildings and grounds and facilities - fire safety inspections - landscaping - 24hr maintenance - refuse collection - water and sewage and pool maintenance

Property taxes - Studios - $1109.80 - 1 beds $1943.70 - 2 beds $3122.92

THE INVESTMENT

TO PURCHASE - STUDIO GROUND FLOOR $61,630  + 4% CLOSING COSTS   = $64,095 TOTAL COST TO PURCHASE   

TOTAL PROFIT AFTER ONE YEAR = $ 8,580 ALMOST 13.5% RETURN

RENTAL INCOME $11,400

MAINTENANCE FIGURE $1500  PROPERTY TAX $1109.80

WITH DEVELOPER FINANCE 25% DEPOSIT ($15,408) BALANCE $46,222 MONTHLY PAYMENTS $312 PER MONTH AFTER 5 YEARS NEW FINANCE MUST BE ARRANGED OR REMAINING AMOUNT PAID OFF

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TO PURCHASE - STUDIO TOP FLOOR $68,300  + 4% CLOSING COSTS   = $71,032 TOTAL COST TO PURCHASE   

TOTAL PROFIT AFTER ONE YEAR = $ 8,580 ALMOST 12.2% RETURN

RENTAL INCOME $11,400

MAINTENANCE FIGURE $1500  PROPERTY TAX $1109.80

WITH DEVELOPER FINANCE 25% DEPOSIT ($17,075) BALANCE $51,225 MONTHLY PAYMENTS $345.87 PER MONTH AFTER 5 YEARS NEW FINANCE MUST BE ARRANGED OR REMAINING AMOUNT PAID OFF

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TO PURCHASE - 1 BED APARTMENTS GROUND FLOOR $91,750  + 4% CLOSING COSTS   = $95,420 TOTAL COST TO PURCHASE   

TOTAL PROFIT AFTER ONE YEAR = $ 10,356 ALMOST 11% RETURN

RENTAL INCOME $15,000

MAINTENANCE FIGURE $2700 PROPERTY TAX $1943.70

WITH DEVELOPER FINANCE 25% DEPOSIT ($22,937) BALANCE $68,812 MONTHLY PAYMENTS $464.62 PER MONTH AFTER 5 YEARS NEW FINANCE MUST BE ARRANGED OR REMAINING AMOUNT PAID OFF

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TO PURCHASE - 1 BED APARTMENTS TOP FLOOR $97,500  + 4% CLOSING COSTS   = $101,400 TOTAL COST TO PURCHASE   

TOTAL PROFIT AFTER ONE YEAR = $ 10,356 ALMOST 10.5% RETURN

RENTAL INCOME $15,000

MAINTENANCE FIGURE $2700 PROPERTY TAX $1943.70

WITH DEVELOPER FINANCE 25% DEPOSIT ($24,375) BALANCE $73,125 MONTHLY PAYMENTS $493.75 PER MONTH AFTER 5 YEARS NEW FINANCE MUST BE ARRANGED OR REMAINING AMOUNT PAID OFF

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TO PURCHASE - 2 BED TOWNHOUSES $159,800 + 4% CLOSING COSTS   = $166,192 TOTAL COST TO PURCHASE   

TOTAL PROFIT AFTER ONE YEAR = $ 11,517 ALMOST 7% RETURN

RENTAL INCOME $18,900

MAINTENANCE FIGURE $4260 PROPERTY TAX $3122.92

WITH DEVELOPER FINANCE 25% DEPOSIT ($39,950) BALANCE $119,850 MONTHLY PAYMENTS $809.24 PER MONTH AFTER 5 YEARS NEW FINANCE MUST BE ARRANGED OR REMAINING AMOUNT PAID OFF

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TO PURCHASE - 2 BED TOWNHOUSES POOL VIEW/CLOSEST TO BEACH (BLOCK 9 ) $163,600 + 4% CLOSING COSTS   = $170,144 TOTAL COST TO PURCHASE   

TOTAL PROFIT AFTER ONE YEAR = $ 11,517 ALMOST 6.8% RETURN

RENTAL INCOME $18,900

MAINTENANCE FIGURE $4260 PROPERTY TAX $3122.92

WITH DEVELOPER FINANCE 25% DEPOSIT ($40,900) BALANCE $122,700 MONTHLY PAYMENTS $828.48 PER MONTH AFTER 5 YEARS NEW FINANCE MUST BE ARRANGED OR REMAINING AMOUNT PAID OFF

Access to the Biloxi area has been expanded recently, and the Biloxi-Ocean Springs Bridge is already complete. At the Gulfport-Biloxi International Airport, traffic is up 20 percent since 2005, and a new $51 million expansion promises to increase terminal space by 8 percent. Two new airlines will be given access with the enhanced square footage. All these steps promise to unleash Biloxi’s economic potential, leading to a huge appreciation in real estate values here.

Casino companies have purchased huge chunks of land in the city, totaling 175 acres, and the industry is expected to employ more than 30,000 casino staff in the coming months. All this competition is proving healthy for the casinos that are already operating in Biloxi – record revenues have been reported over the last 11 months.

Another factor that is bound to drive Biloxi’s real estate boom further is the current lack of housing for the city’s casino workers.There is an immediate need for high quality housing for these people, and current demand far exceeds supply. More than 60 percent of casino workers live in rented properties. There is also a hotel room shortage (need 17,000 have 10,000) and an expansion of the nearby convention center. This will yield a higher nightly rate / corporate rate as a secondary market. The one thing that’s for certain in the real estate is what when supply runs low and demand shoots up, rental prices can go nowhere, but up. That’s what is happening in Biloxi today.