Panama isn't a big country. If you pull up a google earth map and place Panama inside Alberta, it doesn't take up a whole lot of room. Real estate values have increased, are increasing, and will continue to increase. It is a really good idea to buy before mid 2013.
Developers are erecting buildings at a hectic pace, there are entire towns popping up out of nowhere as large corporations like Dell, 3M, and Caterpillar are taking advantage of tax breaks offered by the Panamanian government to keep this rocketing economy humming. Subdivision after subdivision is being built, hundreds of houses and condo's at a time selling out before they are even completed.
It really excites me that I can still take a drive, or search the classified listings and see that houses can still be found as low as 10,000 dollars. $40,000 is a very common price, $80,000 gets a brand new house in some areas, and beachfront condos can still be found for less than 200,000. Now that's a great deal!!!
Costa del Este is an area of the city that if you were blindfolded and dropped there, you would swear you were in Florida. I called for the price of a house there the other day and it was 2,750,000. Was so nice, but whatever your taste, whatever your budget, it is here! That same house in Canada would probably be 5,000,000 in Vancouver or Toronto. Your money goes so much farther here no matter what you are buying. If your net worth in Canada is 500,000, you are surely a millionaire here. Panama at minimum doubles your net worth! Now that is a way better return than those RRSP's I'd say. If you apply for a Pensionado Visa here, it only gets better! See my Pensionado Visa perks on my Links Page.
Flights are only 750.00 from Edmonton. That is sure to decrease as 2 new international airports are on the way and more and more foreigners are snatching up the deals. Venezuelans, Colombians, Canadians, Americans, Germans, and many others are taking advantage of the awesome variety of climates, way more affordable living, cheap real estate values, and the friendly people of Panama.
It is impossible to get anywhere quickly in Panama. It's because the current government is pouring millions into infrastructure. It is hard to go anywhere without seeing public money being spent on roads, subways, and highways. Driving west from Panama City there is construction almost the entire way and to see the construction in the city all I have to do is look out my window. It's hard to imagine until one sees it.
They even have Clamato in the grocery store. If I mentioned that in a previous blog I apologize, but it's awesome. A Ceasor in Panama is better than a Ceasor in Canada, trust me on that one ;)
It's never been easier to buy a property in Panama! With real estate agents from almost every country here standing ready to help out their countrymen, you can do it worry free, and be assured that with only a limited amount of space here, your investment is a great one!
Not a lot of liquid capital? No problem, let's get creative!
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