IPRE announces the addition of a land acquisition and development division within the company. These services are designed to facilitate buying, selling and developing land in Panama on behalf of our clients.
The division is headed by Greg Alexander and Donald Ewert. Mr. Ewert’s background in real estate and land acquisition for major projects dates back to 1989. Don has extensive project experience in Southern California as well as Costa Rica, Panama, and Colombia.
Greg’s background is in business, finance, and contracting dating back to 1984. Greg has 10 years of experience in the land business in Panama with 4 years being the land specialist at Inside Panama Real Estate.
Buying land in Panama:
When it comes to buying land in Panama the first question is where to buy. The basic options will be Panamas growing cities, beach areas, Mountain areas, islands, or Lake Gatun. In selecting the location to purchase, the type of land investment will be very important. Will the investment be for speculation or development and what type? For example it could be for business, agricultural, residential, or commercial.
In deciding where to buy, an investor will also need to consider which locations in these areas are well established, which ones are emerging and underdstand the development trends. Determining the market value of any land purchase is a key item along with other issues such as zoning, permitting, infrastructure, ingress and egress. In addition are there environmental and or political issues that could affect the value of the land?
In addition, what negotiating strategies are best employed in making a purchase? Also, how to own, to hold title? Will it be a corporation, trust, foundation or other entity?
Selling land in Panama
There are, of course, many questions to be answered in the process of selling with the selling price being at the top of the list. Actual closed prices for land in the immediate and general area will be a main determing factor as well as future pricing trends. Will there be a need for an appraisal? Understanding the Seller’s needs and reason for selling.
Will the sale be a straight cash sale or some type of joint venture? If the sale is a venture, then the buyer/joint venture partner will need to be vetted and qualified. How to present the property and determine who the buyer is will depend on what type of land is being sold.
How to package and present the property to the market to maximize its value for the seller will depend on the type of land being sold. Land being sold for speculation or future development will vary greatly from land being sold for present development or business purposes.
Developing land in Panama
In developing land, the question is always what can be built and sold or built and rented. The answer to these questions will drive the rest of the development process. This process will range from planning and permitting to construction to sales and/or leasing. Assembling the right development team is a critical facture to the success of any project. Key fields for team members include architecture, engineering, land planning, construction, finance, project management, sales and marketing, etc.
Whether it is in buying, selling or developing land in Panama the land division at Inside Panama Real Estate can guide and direct the process at every step of the way to a successful conclusion.