WIRE Consulting, an independent company specialized exclusively in International Real Estate services, sees a wide range of potential opportunities for the American real estate investor in Panama, the Dominican Republic or Costa Rica.
A growing presence of international buyers from all over the world are making their way to the top Caribbean country of Panama, where property prices have risen 9% since 2017 with an average price of $197/sq. ft. and a doubled GDP per-capita reaching $14,000 in the past decade. Following a cut in property taxes and an improved mortgage financing system, will only continue to heighten demand and Net Foreign Direct Investment.
Foreign buyers are also predicted to face strong exemptions and incentives in the Dominican Republic, a country which saw a favorable currency exchange rate to the USD of +20% within the last five years. Property prices have followed in the same upward pattern of about 8% annually since 2012, where the average price per sq. ft. start around $87 in some locations but tend to be much higher in prime spots such as Santo Domingo, Punta Cana, and Puerto Plata.
There continues to be a strong American presence in Costa Rica, one of the most stable countries in Central America, where it is easy for the international buyer to invest in real estate. Improved standards of living have resulted in rising construction costs for luxury apartments and villas in top locations which sell for no less than $200/sq. ft.
There are other locations in the Caribbean to also keep on your radar, says WIRE Consulting. Both the Virgin and Cayman Islands are known for their low corporate and income taxes and very much appeal to the international investor thanks to their fiscal treatments. Residential construction activity continues to improve along with luxury condominium developments on the rise.
WIRE Consulting works in assisting clients to identify the best investment opportunities in any of these locations thanks to their international team who manage the entire process from the analysis of individual needs to the realization of tailor-made projects.