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Panama's growth and development has a direct bearing on the need for quality Corporate Housing. Many businesses have elected to set up offices and regional headquarters in Panama, due to the advantageous tax and development initiatives provided by the government.

Businesses have also started to steer away from the high cost of expensive hotels for their corporate travelers and prefer to house their valued employees and guests in up market and well managed quality apartments. These apartments in Panama are conveniently located close to the major business and banking districts of Panama City, and offer easy access to these districts.

The current and planned developments around Panama offer a unique investment opportunity with regards to the provision of corporate housing, this coupled with the country's phenomenal growth in the services sector affords the investor numerous opportunities of investment involvement within the real estate market in Panama's stable economy. Projects that have begun include the numerous mining and development projects, the Canal expansion project and future refineries projects. This has in turn enticed major international organization to establish offices in Panama and there the resultant housing need.

Knightsbridge Property Management Services offers a number of ideally located apartments as well as a follow up management service to ensure that the investment is well placed and subsequently well looked after from a rental and maintenance aspect, thereby adding value to our clients in terms of asset acquisition and management.

Advantages of the Rental Apartments

From a corporate perspective, the business traveler has many more amenities available to him, as well as a larger degree of freedom when residing in an apartment as opposed to staying in a hotel room. The occupant has access to the full unit, including fully equipped kitchens, living areas and bedrooms, and has more of a homely sense than that of a hotel.

The apartments normally come standard with a number of amenities and facilities. These include broadband internet, cable television, local and cellular telephony access, localized business centers, social areas and of course central location. These facilities are meant to provide value at a fraction of the cost for the business traveler and provide an essential base from which to conduct any business.

In order to attract a corporate clientele, one should seek investment close to the business districts, either within walking or a short drive distance. These areas include the downtown area of Panama City, San Francisco, Costa del Este and El Cangrejo. Most of these areas are complete with nightlife, shopping and restaurant trade, which are an added benefit to the potential tenants of the apartment.

The furnishing of an apartment, aimed at capturing the corporate market, should be focused on stylish yet functional. Being over elaborate will defeat the object of the investment exercise and the potential tenants may not particularly appreciate the sense of décor. Hence a function yet stylish approach is recommended to attract potential corporate clients.
The Panama Environment

As stated the country of Panama is experiencing phenomenal growth, this is further fuelled by demographical factors such as the baby boomers seeking retirement homes in Panama and so forth, which in turn contributes to Panama's economy. The business environment has a need for quality corporate housing and the opportunities exist for such investment. However the Panama environment is not exactly the same as any other and it is recommended that a suitably qualified and committed property manager partner you with these investment decisions and the post purchase management of this asset.

Knightsbridge Property Management Services is located in Panama with a well qualified staff complement as well as associate network that has the proven ability of managing these apartments. The services team seeks to build and sustain relationships with our clients in terms of suitably managing their assets with local regulations and procedures in mind. This allows our clients to rest assured that their properties are well looked after by professional partners to them.

The management fees vary dependent upon the level of management and program elected. These fees can range from 7 to 10%for long term rentals up to 20 to 25% of the short term rental value. The difference in pricing is mostly due to the amount of management as well as additional services that are incorporated into the short term rental management agreement. The short term rental normally realizes a much higher fee due to the corporate nature of the clientele, which in turn has a resultant effect of hardly any rental collection difficulties.

Services that are commonly provided to the clientele of the short term rental market include cleaning services, transportation on arrival and departure, as well as all the necessary paperwork required between the landlord and tenant, conducted by the management company. Additional services can be arranged and will be provided on a personalized and value added basis.

Panama Real Estate Market Future

The economic base of Panama is solid and stable, with many initiatives currently underway and planned for the future. Projects such as the Canal expansion and the refinery projects ensure that corporate housing is a long term and sustainable investment. Real Estate has traditionally proved that it is a sound hedged investment and one has numerous opportunities to take advantage of that in Panama today.

A trusted, reliable and professional partner is available in Knightsbridge Property Management Services where the commitment is evident in our ethical and committed dealings with all our clients.