Where Best to Buy Property in Panama
Published on Wednesday, March 25th, 2009
With real estate prices predicted to double within the next 3 to 5 years, buying property in Panama may be well worth considering if you want a solid investment with medium-term potential.
With a canal expansion program worth £1.48 billion being carried out as well as huge construction programs in Panama City, the economy in Panama is booming, but the cost of living remains very low while living standards and healthcare are very good – all of these factors stack up in favour of a property investment in Panama.
Panama also offers numerous tropical sandy beaches and lush jungle countryside and has a thriving tourism industry to boot. So where are people buying real estate in Panama and where is best to buy property in Panama for investment purposes and relocation requirements?
There has been an increase of interest in investing in and retiring to Panama fuelled in part my more North Americans discovering how tax attractive and affordable a country it is. Britons have jumped on the bandwagon now too, and as a result more and more people are considering buying property in Panama.
The world is in financial crisis, globally speaking real estate markets are in decline, no banks are lending money for consumers to buy houses with, and chances are there has never been a worse time in our recorded history to buy property – and yet, in our opinion there are still at least 5 good reasons to buy property in Panama!
Panama is undergoing a period of unprecedented growth at the moment. A huge canal extension program is under way, as well as high levels of construction within Panama City and its surrounds. Real estate in Panama has seen growth of 25% per annum in terms of underlying prices over the last couple of years, and apartment rentals in Panama City can bring in yields of up to 11%.
