Real Estate in Altos del Maria, Panama
Last updated on Jun 09, 2023
Summary: The most desirable neighborhoods in Altos del Maria, Panama are El Valle, El Cielo, and El Paraiso. On average, a nice 2 bedroom home in Altos del Maria can cost anywhere from $100,000 to $200,000 USD, while a nice 3 bedroom home can cost anywhere from $150,000 to $250,000 USD. These properties typically include modern amenities such as air conditioning, hot water, and a fully equipped kitchen. Foreigners are allowed to purchase property in Altos del Maria, however, they must obtain a cedula (residency card) in order to do so. The best way for an expat to search for a home to buy in Altos del Maria is to contact a local real estate agent who is familiar with the area. They can provide information on available properties, as well as help with the paperwork and legal aspects of purchasing a home in Altos del Maria.
How do I find a place to live in Altos del Maria?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"One way to find a place to live in Altos del Maria is to search online for rental listings. There are many websites that offer listings of apartments, houses, and other types of rental properties in the area. Additionally, you can contact local real estate agents who specialize in the area to help you find a suitable place to live. You can also ask friends and family who have visited or lived in Altos del Maria for recommendations. Finally, you can visit the area in person to get a better feel for the area and to look for rental properties that are available," said one person in Altos del Maria.
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What is a typical expat home or apartment like in Altos del Maria?
"Expat homes and apartments in Altos del Maria typically feature stunning views of the surrounding mountains and lush tropical forests. The homes and apartments are often spacious and modern, with large windows and balconies to take in the breathtaking scenery. Many of the homes and apartments come with amenities such as swimming pools, outdoor patios, and private gardens. Expats in Altos del Maria also enjoy access to a variety of outdoor activities, such as hiking, biking, and horseback riding," remarked one member in Altos del Maria.
Explore Panama Legal Business for a full suite of legal services tailored to your needs. From obtaining residency and visas to opening bank accounts, obtaining apostilles, conducting background checks, setting up businesses, and navigating real estate transactions, trust our experience and dedication to guide you through every step of the process in Panama.
Explore Panama Legal Business for a full suite of legal services tailored to your needs. From obtaining residency and visas to opening bank accounts, obtaining apostilles, conducting background checks, setting up businesses, and navigating real estate transactions, trust our experience and dedication to guide you through every step of the process in Panama.
What is the average cost of housing in Altos del Maria?
If you are thinking about moving to Altos del Maria, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The average cost of housing in Altos del Maria is relatively affordable compared to other areas in the country. Prices for homes in the area range from around $50,000 to $500,000, depending on the size and location of the property," explained one person living in Altos del Maria, Panama.
Should I buy or rent a home in Altos del Maria?
If you have not spent a lot of time in Altos del Maria, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Buying a home in Altos del Maria can be a great investment. The area is known for its beautiful scenery and peaceful atmosphere, making it a desirable place to live. The cost of living is relatively low, and the area is close to Panama City, making it a convenient location for those who need to commute. Additionally, the area is known for its excellent security, making it a safe place to live. If you are looking for a place to call home, buying a home in Altos del Maria may be a great option. However, if you are not ready to commit to a long-term investment, renting a home in the area may be a better option. Renting can provide you with the flexibility to move if needed, while still allowing you to enjoy the benefits of living in Altos del Maria," explained one expat living in Altos del Maria, Panama.
What do I need to know when buying property in Altos del Maria?
When we asked expats what advice they would give a foreigner before buying a property in Altos del Maria, they said:
"When buying property in Altos del Maria, it is important to research the area and the local laws and regulations. It is also important to understand the local infrastructure, such as access to utilities, roads, and public transportation. Additionally, it is important to understand the local climate and the potential for natural disasters. It is also important to understand the local real estate market, including the availability of financing and the cost of living. Finally, it is important to understand the local culture and customs, as well as the local language," explained one foreigner living in Altos del Maria, Panama.
Are foreigners allowed to own property in Altos del Maria?
When we asked expats what advice they would give a foreigner before buying a property in Altos del Maria, they said...
"Yes, foreigners are allowed to own property in Altos del Maria. The country has a long history of welcoming foreign investment and has a number of laws in place to protect foreign property owners. The Panamanian government has established a special program called the "Law of Foreign Investment" which grants foreign investors the same rights as Panamanian citizens when it comes to owning and developing property. This includes the right to buy, sell, and rent property, as well as the right to transfer ownership of the property to another person or entity. Additionally, foreign investors are also eligible for tax incentives and other benefits," remarked one foreigner who made the move to Altos del Maria.
What appliances are typically included in a rental?
We asked foreigners in Altos del Maria what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"Rental properties in Altos del Maria typically include a refrigerator, stove, oven, and washing machine. Additionally, some properties may include a dishwasher, microwave, and air conditioning unit," said one foreigner living in Altos del Maria, Panama.
Additional Information about Searching for a Home in Altos del Maria:
We asked foreigners in Altos del Maria what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats can search for homes in Altos del Maria by looking online for real estate listings, contacting local real estate agents, and asking other expats for recommendations. Additionally, expats can attend open houses and visit the area to get a better sense of the local housing market," explained one expat in Altos del Maria.
About the Author
Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.
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