subject: Panama City Real Estate [print this page] While the rest of the world is struggling to find its balance, Panama is an exception. With the turnover of the Panama Canal Zone to the country, Panama has undertaken some serious infrastructure improvements and is gearing up to meet the inflow of cash from around the world. The Panama Canal will soon be much larger than before and operate at a much higher capacity, moving cargo around the globe. Panama City is at the heart of this expansion, and is where the vast majority of the countrys banking and investment business is housed.
The sale of smaller units, both in houses and condos/apartments is still being noticed. Larger properties are still selling, but not at the brisk pace of prior years. This is attributed in part to the combination of expat retirees purchasing, along with offshore purchasers looking for a property they can both use when they desire, and let out when not in use by the owner. Apartments, condominiums, and small houses are the perfect solution for all these needs, which is one reason that sales are still strong.
Panama City offers something for everyone. While it has all the amenities of a large city, its population still numbers less than a million, making it a much less hectic place than New York or London. Panama City can be reached by direct flights from almost anywhere in the world, and the area has some of the best beaches in the world. Another huge advantage is that Panama is not bothered by tropical storms, like the east coast of the United States or the Caribbean can be. Property in Panama is much less likely to be damaged by Mother Nature, keeping your insurance and maintenance costs low.
Panama offers outstanding incentives to expat retirees to move there--but many of those incentives are only conveniently available in Panama City. While the outlying areas are quite nice, they rarely have all the services and attractions of the capital. Construction in the capital is booming, and you will be able to find existing properties as well as new construction and off-plan purchases. Especially if you are considering a condominium or apartment purchase, you will often have the chance to have the unit finished exactly to your specifications.
Real estate in Panama includes a wide variety of property types, from rural farms to in-city apartments, but no one considering a real estate purchase in Panama should choose without experiencing all that the capital city has to offer. Also, remember that you may well be travelling to the capital to conduct business, so a purchase there means your ongoing costs will be lower.
Panama City real estate offers an amazing variety of properties at a wide range of prices. A piece of paradise is within your reach during this window of opportunity, and missing out on it would be a shame.
