An international investment writer recently examined the state of Panama real estate and concluded it is “one of the best places in the world” for property investment.
Writer Robert Bell based his conclusion on several factors, including Panama’s attractive retirement program, affordable prices, and the “economy is expected to grow significantly in the near future.”
In his article, entitled, “Could the Time Be Perfect to Buy Property In Panama?’ Bell analyzes several elements of the market, including the location, taxes and potential future growth. The country is “extremely culturally diverse,” with a “mixture of gleaming new developments and historic World Heritage sites.”
While Bell, a former banking executive in the U.K., raises many points that we hear all the time, it’s always nice to have an outside source reach the same conclusions. As a writer focused on investments, he also spotlights many of the key factors that make Panama attractive to investors, including top locations like Ocean Reef, the man-made islands off the coast.
The property market is “equally diverse, with many types of home up for sale,” he writes. Prices increased by more than 20 percent from 2015 to 2017, according to the Panama Chamber of Commerce, “bucking the trend” in markets around the world, Bell notes.
But prices are “still relatively low here,” he writes on the site Invezz.com. “The areas that are most popular with foreigners and wealthy locals – such as Ocean Reef and the Casco Viejo – can be expensive, but there are plenty of bargains to be had elsewhere if you look around,” he writes.
(He’s got that right, we should add. If you want to learn more about those bargains in top quality locations, click to drop a note.)
From an investment perspective, many of the buyers in Panama are from the U.S., but it is also proving increasingly popular with buyers from further afield,” he writes. Meanwhile, the economy is continuing to grow.
“This should lead to the property market heating up,” Bell concludes. “With more money swilling around the country, it is likely that there is more demand, particularly for luxury properties.” His bottom line: “Right now it is one of the best places in the world to buy for retirement purposes and also a very decent option for an investment property.”