Real Estate Values in Panama

The exchange rate between the US and Canadian dollars isn't something I have had to pay much attention to over the last several years, but now, it seems it is becoming, and will continue to be an important factor in where you are going to buy real estate. 

 

In Panama, the currency is the American dollar, and no matter how you feel about that currency, it seems the Canadian dollar is losing ground!!  Two months ago, if you were thinking of buying a 100,000 dollar condo in Panama, and decided to wait, it has cost you pretty significantly.

 

Today, that 100,000 dollar condo will cost you 7,000 dollars more, just on the exchange.  That's not to mention that the minimum wage in Panama is expected to increase from 460 (ish) per month to 750 per month come January, 2014.  

 

Can you imagine the inflation that would take place in Canada or the USA if minimum wage suddenly doubled?  Real estate is a great investment, but if you aren't making the move in Panama today, It may cost you.

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