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Taking a Look at Panama Real Estate Market From a Different Perspective

Jun 24, 2008
These days, the Republic of Panama has become popular because of the real estate market in Panama that's booming. Foreign investors bought and are continuing to purchase real estate in Panama because of its promised benefits. With tourism soaring, a growing economy, stable government, development of expansion of the canal and the stunning architecture of Panama properties, the real estate market in Panama has been growing in considerable speed. On a daily basis there are foreigners inquiring and visiting the this isthmus of Central America with intentions to buy properties. Investors have choices of beachfront properties, mountainside highlands destinations, and real estate in Panama's city skyline. As there are demands for real estate investment in Panama, the prices for properties are correspondingly rising. In fact, it has been anticipated that real estate market in Panama will continue to increase at about 30 to 40 percent by the 2010. As the trend continues, more development is finished in the real estate of Panama including pre-constructed units, condos, hotels, residential units, luxury towers, and more commercial centers and business establishments. Foreign investors from different places in America and Europe are expectant of the potential profits in their real estate investment in Panama.

As many more foreigners hear and see for themselves the boost in real estate market in Panama, wonder what could have been the factors that caused the surge. We cannot deny that just like any third world countries, Panama has its own pitfalls. The government made a serious campaign for tourism; more investors become curious of what Panama has to offer. The tourist sector boasts of the banking and financial services and the ecological preservations. It also rides on the popularity of the Panama Canal as the avenue for global trade. The campaign for the positive things in Panama has reached worldwide market.

As Panama emerged to the international view, Panamanian professionals started to offer seminars that provide opportunities for foreigners to invest in Panama. The seminars explain how real estate market in Panama works and how beneficial it would be for foreigners to take part in the market. They would usually provide tours for foreigners to get a sight of the beautiful views of Panama and the available real estate market. Foreigners were even more encouraged to take a look at Panama real estate market when billionaire Donald Trump announced to the public that he invested in a 65-storey hotel within Panama City. Since then, many other high-profiled projects have been unveiled, including cit skyscrapers and a handful of well-known beach resorts. Because land prices are still affordable, developers are scrambling to find whatever pieces they can.

As there are more and more opportunities for foreigners to look at Panama real estate market, they discovered more benefits for living in Panama. It was even confirmed when several international communities tag Panama as one of the best places to retire. These factors and the effects of the boost of real estate in Panama create a domino effect on the development of Panama.
About the Author
Laurie Cooper, of Cpanama Real Estate Corp., is an expert on Panama real estate. For more information, please visit http://www.cpanama.com.
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