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Cheap Panama Real Estate; Opportunities in the Making
Panama has had a ten year run up in real estate prices driven by foreign second home owners and retirees and Panama’s charging economy. There is talk of a Panama real estate bubble. So, is there still cheap Panama real estate? If you know where to look the answer is yes.
You can find cheap Panama real estate but first what kind of real estate are you looking for? Panama is a tropical paradise with great beachfront real estate on both the Pacific and Caribbean Coasts. Panama City has high rises on the Pacific with first world services. There are hideaways in the old Panama Canal Zone within easy driving distance of shopping malls indistinguishable from those in North America.
Panama commercial real estate has had a strong run and still is perhaps the best long term investment as it is tied to Panama’s and Latin America’s steady increase in prosperity. With increasing Panama prosperity has come an increasing appetite for products and services and an increasing ability to pay. Development and leasing of commercial real estate will tie the investor into Panama’s long term growth and success.
But where are the deals? Where is there cheap Panama real estate? We provide two examples, one on the Panama Pacific and the other of cheap Caribbean real estate.
Cheap Panama Caribbean Real Estate
There is cheap Panama Caribbean real estate to be had in Colon and Veraguas Provinces.
Panama is steadily improving its system of roads. This ongoing effort includes extending road networks into previously isolated areas. One of these areas includes the Panama Caribbean Coasts of Colon and Veraguas Provinces. The Colon Province roads are farther along and promise to make white sandy beaches and crystal clear waters accessible by car from Colon and Panama City. The Panama real estate near Colon especially is likely appreciate greatly as accessibility leads to investment and investment to development. There are already marinas and hotels in the works and on the drawing boards. We encourage the active investor to look at this area and invest in the Panama commercial real estate needed to provide the upcoming business needs of this soon to thrive area with currently cheap Panama Caribbean real estate.
Cheap Panama Pacific Real Estate
We believe that a great growth opportunity awaits investors on the Panama Pacific Coast in and around Puerto Armuellas.
Currently the economy around Puerto Armuellas in Chirqui Province is poor. This agricultural part Panama is heavily dependent upon banana production and is having problems with high European Union tariffs as well as a fungus that attacks bananas known as the Panama Disease.
The bright light for investing in Panama real estate is the ongoing possibility of Occidental Petroleum and Qatar Petroleum building a $9 Billion USD oil refinery at Puerto Armuellas. Because of it deep water ports Puerto Armuellas already is a transshipment point for oil from Alaska’s North Slope on its way via pipeline across Panama on its way to refineries on the US Gulf Coast. Building a refinery would obviously create jobs but a functioning refinery would position Panama as a supplier of petroleum products to Central America as well as West Coast of the USA.
The same argument applies here as in Colon Province. As Puerto Armuellas’ economy thrives because of a new refinery the entire business infrastructure will prosper. Those investing in property or options on property now can expect to see their real estate investments, especially commercial real estate investments grow for years to come. Chiriqui panama real estate popularity is on the rise.
If you have an interest in Panama real estate, commercial or residential contact us at ABPanama and we will put our 23 years experience managing real estate portfolios to work for you.