Panama becoming more popular and so it should

[gsinker]

It seem strange for me to see Panama still not having its own section on the web site. Each day i see another so called Hot Spot disappear of the list.

It took nearly 18 months for the USA and mainly Florida to collapse where as Dubai looks as though it took 8 weeks.

Panama was never seen as a hot spot in the UK and Europe possibly because it is such a small unknown country that is famous for a Canal and a canoeist

However living here in Panama like I do puts a different prospectus on the country. Each day i see and hear construction taking place. Their is still a buzz to the area and why not. Tourism is still strong, the GDP is still increasing and its hot all year round.

Panama is still a great place to buy and invest in Real Estate.

Occupancy levels in Panama City are above 90% just ask anyone who has tried to book a room in the city. Then hear them complain about the room rate!

Panama is a place that doesnt like to brag, it doesnt claim to be something its not, it doesnt hype up what it can offer in fact that is possibly one of this failings.

But for those looking for a true investment property that has the ability to cover its debt then Panama is a must.

Panama isnt the next "big thing" its been here for a while and it isnt going away.

This isnt a case of "Build it they will come" this is a of " There here so build it now"

If anyone would like more of an insight to Panama please contact me.

 

[torchy]

Absolutely concur with Gsinker's post. I am a Panamanian resident and property investor for five years in Panama. The only discernible change in the daily market is a slow down in off plan sales (this had to happen otherwise they would have been on the moon by now) and prices for new properties are no longer increasing.

There is huge investment in the Panama Canal, in the new city that London & Regional are building and there is over a year waiting list for businesses in the Colon Free Zone. There is a vast new Merchandise Mart planned close to the free zone and new tourist incentives for the Caribbean coast which will be much more easily accessible when the new four lane highway from Panama city to Colon opens in April.

I know of four new hotel/resorts under construction in the area and this is the new hot spot for investment due to it's idyllic surroundings of the clear ocean waters, coral, white sand and rain forest whilst only twenty minutes from a major city and all it's facilities. A new Cancun will arise here in the next five years and those with the foresight to invest now will reap the benefits. Yes I am already doing this!

I have just read an article on this site by Mark who states a 30% fall in property prices in Panama. This is rubbish, I live in Panama City and talk to the movers and shakers every day and have yet to see any price reductions. I am not talking of the second hand market where they always overprice in order to make a reduction and still achieve the desired price. He also says tourism is down, I suggest he reads the latest figures which show a sustained growth in Tourism even to last month and the GDP up over 9% in the last year and still a 7% growth projection for next year. Have you ever been to Panama Mark? Get on a plane and I'll show you what is really happening!

 

[gsinker]

Hola Torchy,

Good to see i am not on my own here in Panama. If you are not a real estate agent then I think that the woners of the forum would let you moderate a section on Panama. Dont know if you would be interested in this?

I could contact the owners and see if that would be OK i tried but there policy stops me from doing this being a broker.

It would be good to have a section on Panama as I think the country has earned it.

We have not suffered the BS that so many other countries have generated.

I am promoting one of the new hotels called Nations Hotel and i have been getting more and more interest from Brokers in the UK and Europe which is always good to see.

It has amazed me for a long time that in Panama i can prove the numbers i quote but people have shyed away. In other countries where the numbers are made up and wildly over the top people believe them and buy then complain afterwards.

Maybe now this will change, if not i will have to hire some spin doctors from the UK markets.

 

[torchy]

I am an active investor in Panama with projects to promote. I am happy to act as moderator if I qualify. I agree there should certainly be a section on Panama. It is one of the most rated investment countries in the world to and should be recognised as such.

 

[gsinker]

OK I will see what the Boss says!!!

 

[panamahouse]

I think as long as Costa Rica keeps getting worse with crime and other problems. Panama will become more of a target with expatriates.

 

[PanamaLandInvestments]

Maybe I am a little late for this, but I did find this thread with all things Panama