Real Estate in Panama, whether houses or apartments, continue to grow over the years. It is not a secret that Panama is a country whose offer of real estate is highly sought after by people from many countries: From Europe, to Latin American, the real estate in Panama are perhaps one of the main sources of income of the country, which has prompted a fairly stable economy.
Real Estate in Panama – Gogetit Highlights
* Between 2010 and 2014, 33.750 units were sold to the tune of over 3,100 million. During this period, the annual sales growth was 10.5% on average.
* After Panama, Florida, with Miami and Orlando to the head, became interesting places for those seeking a second or third property instead.
For 2015, the real estate sector in Panama continues to show significant growth. According to the National Council of Housing Promoters (Convivienda) consolidated numbers in 2014 compared to 2015 projections, announced the construction of 9,600 units, an almost 20% greater expectations in line with the trend until last year shored 7,700.
The international environment favors Panama. His qualities as always, such as its geographical position, its status as aviation and maritime hub and soundness of banks, added other virtues default regional peers. In fact, market sources say the rise of the dollar over other currencies in Latin America, favors the arrival of investors who want to protect their money.
It is important to note that rates have stabilized and property prices have been more appropriate to the actual costs to avoid speculation and malformations. Investment in real estate in Panama is still a great investment option in the region and in the hemisphere.
Now, what are the most sought after areas to buy property in Panama? Without a doubt, the area of Avenida Balboa is among the favorites, followed by Costa del Este (which currently has several ongoing projects). Obarrio and San Francisco and are also highly sought areas, ranging in price from 80,000 and 140,000 dollars.