Residential property prices are trending downwards, but at a relatively slow pace. However, commercial property prices are rising, while investment property prices such as apartments and holiday rental real estate in Panama is remaining steady or slowly rising. Investors looking to Panama should time their investment to meet with the type of real estate they plan to purchase as well as their overall short and long-term goals.
Commercial investment in Panama is on the upswing. With the completion of the Panama Canal treaty and the handover of the Canal to Panama, the country is investing quite heavily in its infrastructure. The Canal is being widened and improved, roads are being built, and the communication infrastructure is being strengthened. The possibilities for commercial investment are improving rapidly.
Those looking to invest in commercial, investment, or income-producing properties will be well served by looking at Panama City properties. Apartment buildings, condominium buildings and commercial buildings, as well as single-unit homes are being constructed in the suburbs and outlying areas around the capital city. Panama has been named one of the best locations in which to retire in the world, and pensioners are flocking to Panama City as well as smaller towns to enjoy all the country has to offer.
Besides a perfect climate, the country of Panama offers low taxes, quick, easy access from just about anywhere in the world, and a host of incentives for retirees. Low-cost healthcare, discounts on entertainment and shopping, and even big savings on a car are all attracting pensioners from all over the world.
For people considering investing in an income-producing property, holiday travellers often seek out apartments where they can live like locals. Income-producing property such as holiday rentals currently averages 8-10% returns, well above returns that can be had in almost any other investment. Purchasing a unit that is under construction is a good way to minimise the initial investment cost as well as ensure the unit is built or customised to your specifications. Purchasing a holiday rental unit or home in the outskirts of Panama lowers the costs, but still allows holidaymakers to easily access the city’s attractions because of the excellent transportation system.
The town of Boquete in the Panamanian highlands is increasingly in demand by offshore purchasers who wish to get away from the bustle of Panama City. Lush and rural, it is only now being discovered by people, and pensioners seem to be those most attracted to its quiet delights. Right now, it is primarily single-home purchasers as well as people buying raw land on which to build later. However, services will inevitably follow as the people arrive, and prices for both land and existing units will rise. Boquete is a largely overlooked area of investment in Panama, and people considering an investment in the country should consider Boquete as well as Panama City when thinking about their returns.
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