Real Estate & Property Investment News in Panama from Propertyshowrooms.com

Economic crisis driving prices down in Panama

Mon, 15 Mar 2010 00:00:00 GMT

Foreign investors who want to get their hands on a property in a sun-drenched tropical paradise may want to consider looking at the coast of Panama.

The province of Boca del Toro is located on the western coast of the Central American country and has the fasted growing economy per consumer in the region.

According to a report by International Living, the economic crisis has meant that real estate prices in the country have begun to fall, making the dream of owning property more of a reality.

The article draws attention to the forthcoming Panama Canal expansion project, stating that it is expected to help bolster the country's growing economy.

And one reason that it was recently named as the "growth champion" in the region by Latin Business Chronicle in its five-year growth forecast.

Individuals looking to invest in the country may be interested to note that the Panamanian government offers potential tourists a host of tax and price discounts to encourage them to visit the country.

Property in England sees price increases

Mon, 15 Mar 2010 00:00:00 GMT

Property prices in England and Wales have shot up by 5.2 per cent in the space of a year, according to new Land Registry figures.

In news that points towards the continued resurgence of the housing market in the country, the cost of property in January this year posted gains in comparison to 2009.

It represents one of the largest monthly increases that the registry has reported since growth began again midway through last year and is the second consecutive month that the figure has been positive.

Some of the biggest rises were seen in the south-west region of the country.

A spokesperson for the Land Registry told Reuters: "While not all regions are recovering at the same rate, it is clear that overall prices are increasing."

According to a recent report conducted by property developer Knight Frank, sales of newly-completed projects in London rose by a staggering 214 per cent during the final quarter of 2009, compared with the previous year.

Panama tipped as long-term prospect

Wed, 23 Dec 2009 00:00:00 GMT

Panama has been tipped to be one of the best property investment destinations in 2010.

Expert Liam Bailey stated in a list of the top places to buy for Write about Property that the country should see the resumption of annual economic growth of ten per cent in 2011.

He added that the main driver of this will be the expansion of the Panama Canal, trebling the amount of shipping it can deal with.

Another factor Mr Bailey noted was the fact that the country is the most popular overseas retirement destination for Americans.

Both residential apartments on long-term lets or holiday residences rented out for shorter periods of time will do well, he stated.

A poll of Latin American property professionals earlier this year found that the majority thought Panama had weathered the economic downturn well.

The Encuentra24.com Real Estate and Classifieds survey revealed that 66 per cent believed the credit crunch had "barely" impacted on the property market there, with another 12 per cent saying it had no affect at all.

Economic slump 'having little effect on Panama'

Wed, 2 Sep 2009 00:00:00 GMT

Panama's property market is largely unaffected by the world economic downturn, according to a poll of Latin American property professionals.

The Encuentra24.com Real Estate and Classifieds listings portal survey of experts found that 66 per cent said the crisis is "barely" impacting on the country, with a further 12 per cent suggesting it is having no consequences at all.

Only a minority (39 per cent) said there was more rental property than demand required, something that could be good news for those investing with this aim in mind.

However, at the moment only six per cent of overseas property buyers are European, the experts said.

This could mean that UK buyers of overseas property are missing out on prospects in the Central American country.

Last year it was stated that British interest in the country as a property destination rose after the story of John Darwin, the man who fled to the country with his wife Anne using life insurance payouts after faking his own death.

Property editor of Buy Association Paul Collins said the event put the country "on the radar" for ordinary UK investors, although more serious buyers had known about it for some time.

Now is best time to buy in Panama, says expert

Wed, 22 Jul 2009 00:00:00 GMT

Now is a good time to buy property in Latin American countries such as Panama, an expert in Canada has said.

Writing in the Vancouver Sun, Tom Kelly, a US-based author of two books on buying real estate in the region, stated that Panama "is a bargain right now," although he added that "it costs money to get there".

Mr Kelly was aiming his remarks at Canadian buyers on the basis that the country has been hit less hard by the recession than the US.

However, in comments that may be relevant to UK buyers as well, he suggested that the best time to get bargains is while the US is in the doldrums, as prices in Latin America will rise when it recovers and more people from the country are able to buy overseas.

Earlier this month, founder of US developer Amble Resorts Ben Loomis remarked that the "growth and stability" of Panama makes it attractive for investors.

He commented that the expansion of the Panama Canal is one major factor in the country's economic strength.

Panama tipped for further growth

Thu, 16 Jul 2009 00:00:00 GMT

The

Panamanian property

market has been tipped to grow strongly, with a US developer describing it as one of the best prospects in the Latin American region.

Ben Loomis, the founder and president of Amble Resorts, said the country offers a well-run economy and is on course for strong economic and property market growth, due to a favourable trade agreement with the US and an expansion of the Panama Canal.

Explaining the decision of the firm to build a new development that includes a number of holiday homes, Mr Loomis remarked: "Although the economic climate is not the only reason we chose to build our property in Panama, we were definitely attracted to the growth and stability there."

The company is creating it as an eco resort, noting that this is aimed at tapping into the growth of green tourism in the country.

Earlier this month Nuwire Investor predicted that due to the country's growth, Panamanian property will increase to between two and five times its present value in the next five to 15 years.

Growing Panamanian property investment destination highlighted

Thu, 9 Jul 2009 00:00:00 GMT

Chiriqui in Panama is a growing location for property investment, it has been claimed.

It has been selected as one of the best emerging coastal regions in the world for purchasing homes in a list published on Write-about-property.com, with properties available for just over GBP50,000.

The article noted that Panama is expected to experience growth of three per cent this year in spite of the global economic downturn, followed by an expansion rate of four per cent in 2010.

Additionally, the source explained, the Panama Canal is being expanded "to become one of the most important transport waterways in the southern hemisphere", making the country a centre for investment.

A popular destination for US holidaymakers and retirees because of its dollarised economy, the website forecasts that property price will double by 2014 and may treble over the coming five to seven years.

Located in the west of Panama, the province of Chiriqui has a Pacific Ocean coastline and its economy is based on agricultural and cattle production, with the tourism industry taking off in recent years.

Panama 'provides incentives to foreign investors'

Tue, 7 Jul 2009 00:00:00 GMT

Panama offers overseas property investors a range of benefits and provides easy access to South America, it has been claimed.

According to the Daily Telegraph, the country is "booming" and is attracting a growing number of buyers, with the government offering incentives for those purchasing offshore homes.

Highlighting the "favourable climate" and the "abundance of flora and fauna", Richard McColl explained that Panama has been a "model of stability" since military dictator Manuel Noriega was overthrown in 1989.

He noted that a growing number of people are choosing to retire there and quoted estate agent Jaime Figueroa, who praised Panama's infrastructure, including Tocumen International airport.

Celebrities such as Mel Gibson and Sean Connery have bought properties in Panama and other stars are expected to do so, with a government recently elected that is "ambitious and overtly friendly and open to foreign investors".

Panama was settled by the Spanish in the 16th century, breaking away to join the Republic of Gran Colombia in 1821 and seceding from Colombia in 1903 with support from the US.

Panama property development 'hit by credit crunch'

Wed, 21 Jan 2009 00:00:00 GMT

Development of property in Panama is decreasing as a result of the credit crunch limiting the spending power of construction firms in the country, it has been claimed.

According to the Panama Star, many projects have been either scaled down or stopped completely due to a lack of buyers, with the high-end real estate market being particularly badly affected.

And as a result, many buyers who invested in apartments in the country in order to make a profit may find themselves with a shortage of buyers.

Housing minister Gabriel Diez told the news source that "luxurious condominiums" were mainly targeted by foreign buyers, who are no longer seeking to purchase homes in Panama in the current economic climate.

However, he expressed optimism for the market in the future, stating that the impact may be reduced if developers switch to constructing low-cost homes.

The news signals a shift from the positive outlook the Panama market experienced in late 2008, when a Daily Telegraph report noted that "straightforward" acquisition of property in the country was making it popular with investors.

In Panama, Donald Trump's Ocean Club is taking shape

Fri, 16 Jan 2009 00:00:00 GMT

No downsizing here: The Trump Ocean Club in Panama City's Punta Pacifica area is taking shape. Recent pictures posted over at the Panama Investor Blog show the project well underway. You can't see the sail-like structure yet but the project is out of the ground. The celebrity factor Easily the highest profile project in Panama...

Panama 'growing in interest'

Wed, 29 Oct 2008 00:00:00 GMT

Panama has seen a notable growth in interest from potential buyers, it has been stated.

Gareth Milton from Propertyshowrooms.com told the Daily Telegraph: "The country is attracting 150 per cent more inquiries on our portal than this time last year," adding that the country is cheaper to buy in than the US and the process of acquiring property is "very straightforward".

The paper stated that the country offers not just affordability, but good healthcare, a stable economy, low crime and highly attractive scenery.

It is also set for new economic development as the Panama Canal - which links the Atlantic and Pacific oceans - is set to be widened.

Paul Collins, the property editor of overseas investor magazine BuyAssociation.co.uk, said in August that there had been a major increase in interest from potential UK buyers once Britons started to consider the country.

He said a catalyst was the case of John Darwin, the man who faked his own death and set up home with his wife in Panama using money from the insurance payout.

Construction progressing on Trump project in Panama City

Mon, 20 Oct 2008 00:00:00 GMT

Pictures posted on Panama Investor Blog show construction progressing rapidly on the Trump Ocean Club, one of the bellwether residential towers in Panama City. “Looks like much of the parking garage is completed and soon they will start on the hotel, casino and apartments,” Sam Taliaferro reports. With skepticism mounting about the Panama City tower market...

Panama investment 'could be lucrative'

Thu, 21 Aug 2008 00:00:00 GMT

Overseas property buyers could find Panama a highly lucrative investment market, industry analysts have said.

According to FC Exchange, the Central American country is a less mature market than many European nations, such as Switzerland and France.

This, it stated, means that it is experiencing a much higher rate of house price inflation.

As a result, foreign property buyers who do not want a long-term investment could find Panama a suitable location to consider.

Nick Fullerton, managing director of FC Exchange, commented: "If you're looking for a quick return, there's no point looking in mature markets where any growth is now very slow."

He added that while emerging markets can offer a higher degree of risk to property buyers, the rewards can potentially be much greater.

This comes after analysts at Amberlamb stated that the "world and his wife" have become aware of the investment potential in the Central American country.

Panama set to become more popular

Fri, 8 Aug 2008 00:00:00 GMT

Panama has been tipped to become a hotspot of activity among overseas property buyers over the next few months.

According to the BuyAssociation website, the Central American country has attracted high levels of media coverage in recent months as a result of the John Darwin case.

Mr Darwin faked his own death in a canoeing accident four years ago in order to enjoy a new life overseas with his wife.

However, the attempted fraud was recently exposed, prompting many media outlets to highlight what lifestyle attractions made Panama an attractive destination for the couple.

BuyAssociation believes its recent high profile could trigger additional interest in the country among foreign property buyers and expats.

Paul Collins, property editor at the website, commented: "Before this whole thing started, a lot of people didn't really consider Panama as a viable destination for moving overseas."

He stated that consumers are now more aware of the fact that Panama City in particular is a modern location which offers favourable exchange rates.

Panama 'gaining more attention'

Thu, 7 Aug 2008 00:00:00 GMT

The potential advantages of investing in property in Panama have been growing thanks to the recent case of a couple who moved there after an insurance scam, it has been stated...

Panama 'offers cheap property'

Thu, 7 Aug 2008 00:00:00 GMT

Overseas property buyers may be able to snap up a relative bargain in Panama, a media outlet has stated.

According to the Guardian, a typical apartment in the South American country can cost as little as £30,000.

Meanwhile, a two-bedroom flat in Panama City, complete with gym and swimming pool, can sell for about £75,000.

Commenting on the market, the Guardian observed: "Even in the current downward spiral of the UK housing market, Panama's property remains a bargain by a long way."

The newspaper said the country also offers a number of lifestyle attractions, such as good beaches and sunny weather all year round.

Furthermore, it stated that Panama has a favourable tax regime and good healthcare provision, attributes which have made it a popular spot for retirees.

This comes after analysts at Amberlamb stated that the "world and his wife" have become aware of the investment potential in the Central American country.

Panama attracts more British investors

Tue, 29 Jul 2008 00:00:00 GMT

Interest in emerging markets such as Panama among overseas property buyers in on the increase, experts have revealed.

According to research by HiFX, fewer British investors are seeking opportunities in established European markets, including Italy and Spain.

The currency specialist has attributed this trend to a number of factors, such as the strong euro forcing up the cost of living in these countries.

HiFX added that emerging markets across the world are also becoming more popular with investors, as they widely seen to offer better growth potential.

Mark Bodega, director of the organisation, commented: "Investors are always looking for the 'next big thing' to try and tap into undeveloped markets."

Panama was highlighted as one hotspot of actiivity, as the number of enquiries relating to the country has gone up slightly in recent months.

This comes after analysts at Amberlamb stated that the "world and his wife" have become aware of the investment potential in the Central American country.

Panama property investment not for the light-hearted

Fri, 4 Jul 2008 00:00:00 GMT

Panama has the fastest growing economy in Central America but new investors are still worried about the political climate, infrastructure and possibly being ripped off, according to a new report...

Buying Property in Panama Safely and Securely

Tue, 1 Jul 2008 00:00:00 GMT

Ho him, the highly respected Homes Overseas magazine recently published a piece all about Panama and quoted Amberlamb. Which was nice. The only trouble is, the world and his wife will now be looking at the investment prospects in this country and presenting themselves as prey to some of the less than scrupulous sales agents that exist in Panama. Not exclusively you understand, they exist everywhere, but in Panama there are a number of scams and tricks that are fairly unique to the country’s property market. So we thought we’d better add a bit of a addendum to the ‘Where to Lay Your Hat’ piece in Homes Overseas...namely, buying property in Panama safely and securely.

Where to and Not to Invest in Property in Panama

Tue, 1 Jul 2008 00:00:00 GMT

Well, the world and his wife have discovered the property potential in Panama and they are believing the reports that mortgages are easy to come by, they are making the classic mistakes of believing everything that the very first real estate agent they meet says and they are buying condos in high-rises in Panama city because they’ve heard, been told and now believe that they can’t lose. Marvellous. Meanwhile back on planet reality, if you’re an investor keenly aware that there is potential in Panamanian real estate but you’re just not sure where, here are the Amberlamb ideas about where to and where not to invest in property in Panama – bearing in mind that we may be wrong of course!!

Panama investors to benefit from tax breaks

Thu, 26 Jun 2008 00:00:00 GMT

Owners of real estate in Panama have been boosted by the news that they will still be able to benefit from a 20-year property tax exemption.

According to the Foreign Property Buyer website, the policy expired last year, prompting fears that some investors would start to shun the country and look elsewhere.

However, the online portal has stated that the government has renewed the tax break in order to keep encouraging growth in its housing market.

Commenting on this development, the website said it means that overseas investors will continue to pursue opportunities in Panama.

Foreign Property Buyer remarked: "The news has been welcomed by investors as it is expected to keep Panama's property market on the up."

This comes after analysts at Amberlamb stated that the "world and his wife" have become aware of the investment potential in the Central American country.

Twenty year tax exemption for property investors renewed in Panama

Tue, 24 Jun 2008 00:00:00 GMT

The 20 year tax exemption for buyers in Panama which expired last year has been restored to keep the country's booming real estate market on the rise...

Panama attracts more foreign property buyers

Fri, 16 May 2008 00:00:00 GMT

Panama is becoming more and more popular with foreign property buyers, according to industry experts.

Analysts at Amberlamb stated that the "world and his wife" have become aware of the investment potential in the Central American country.

However, the organisation recommended that investors avoid Panama City and consider places such as Penonome instead.

Amberlamb said it is a highly accessible place which offers a number of lifestyle and financial attractions.

The group commented: "It's already emerging as a tourism hotspot for city dwellers seeking the laidback vibe that Penonome really embodies."

Furthermore, the region was said to offer attractive architecture, good scenery and relatively cheap real estate prices.

Amberlamb added that property values are likely to "creep up" in response to growing demand, which means buyers could get a relative bargain if they enter the market early.

This comes after the Foreign Property Buyer website revealed that Panama's government has extended its 20-year property tax exemption for overseas investors.