Panama, the Hub of the Americas, links Central and South America. This little country has both Caribbean and Pacific coastline. Panama truly has it all...from tropical islands with white-sand beaches...a modern First-World capital city... lush, wildlife-filled jungles... and cool coffee-growing mountain highlands.
It's the perfect relocation and retirement destination for many reasons. It's close to the US. It offers a wide variety of real estate options. It boasts a dollar-based currency. It offers a retiree program that's unmatched in the region. But is Panama the perfect choice for property investment?
Panama real estate has been a target for foreign real estate investors since 2004. Today, the country has a strongly performing economy, which leads many to believe that the country must have an equally thriving real estate market. However, Panama's real estate boom peaked in 2007. Today, the market is soft...and there is over-supply in mid-range and high-end city condos.
Our advice is: don't buy in Panama right now for short-term appreciation or rental income. Don't buy pre-construction...it is too much of a risk in a soft, over-supplied market. But if you plan on living or retiring here part-time or full-time, and holding a property in the mid- to long-term, then Panama's slow market gives you an opportunity: watch out for fire sale properties, at a fraction of the price you'd have paid here three or four years back.
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