Panama is experiencing the kind of real estate boom that could send shock waves throughout Central America. With a huge influx of foreign dollars and new immigrants over the past few years, Panama has found itself in a unique position to grow; however, there are some ugly obstacles that can get in the way. When preparing to invest in Panama, it can be easy to get excited and do everything at once. But here, we have provided some things to be weary of, and several hitches you do NOT want to encounter on your way to paradise: The coastal areas and rural regions of Panama are loaded with properties at bargain basement prices, but not all of them are titled. Be very weary of properties with right of possession: properties which are technically owned by the government but occupied" by a Panamanian individual. Most of these properties can become titled" through a process of purchasing the land from the government but there are some regions in which this is not an option. A titled piece of property on the other hand, is guaranteed to its owner by the constitution of the Republic of Panama. The old saying applies, if it seems too good to be true, it probably is". While Panama is known for its modern skyline and international banking center, it is still the third world, and with that comes some questionable and suspicious real estate-related activity. If you take one look at, perhaps the most closely-analogous country in terms of tourismCosta Ricayou'll find plenty of chary real estate agents without licenses looking to scam a foreigner like you. Be sure, when you are looking to invest in Panama, to do business with a licensed realtor with a decent reputation. Panamanians are known for a lot of great things, but punctuality is not one of them. Condominium completion dates, represent this tardiness to a tee; many of the delivery dates on pre-construction condos being about as inaccurate as your twelve times tables. With that being said, do not invest any amount of money that you cannot afford to lose. Perhaps more than any investment you've made at home, it is crucial in Panama to research the project in which you are looking to invest. If you scrape the surface of the fancy websites and glitzy floor plans, you may be surprised at what you find. To avoid any miscommunication or misunderstanding, from legal procedures to basic details, be sure to get yourself a good bilingual lawyer. To even the most advanced Spanish speakers, some of the technical investment jargon can be confusing and when it comes down to it, a good lawyer can save you a lot of time, stress, and dinero. Similarly, a respectable and reliable investment agent is indispensable. An especially good agent can help you find the best possible investment opportunities in the best locations, so take your time interviewing agents, researching their backgrounds, and then decide around which of whom you feel the most comfortable. Using an expert team of realtors, historians, and locals, we have divided investment in Panama into three categories: organizing opportunities by the amount of time for return. Many websites will flaunt Panama City and Bocas del Toro as the hotspots to invest in Panama, but in our opinion, those areas are past their prime. Panama City has way too many projects being erected right now and Bocas tends to lack the right kind of infrastructure. Sure they're all great investments, but if its serious return you are looking for, we would tend to migrate towards one of the following prospects. Quickest Return: The Pacific beach areas just an hour outside of Panama City are no-brainers for investment. Imagine a white sand beach condo one hour outside Manhattan? These condos will be ready in as little as a year and some of the returns are already starting to make a splash. Areas like Coronado and Gorgona, then further West in Santa Clara, beach condominiums are all the buzz, fetching silly small amounts for ocean front apartments and penthouses. These investments, relative to the following few, tend to be the least risky moves, offering the quickest return. Intermediate Return: The Azuero Peninsula, a semi-split image of Costa Rica's Guanacaste region in terms of topography, has some of the best Panama Investment opportunities in the entire country. Large lots of land have laid undisturbed for years now and they can be picked up for as little per square meter as the price of a pretzel. Properties that many investors dream about along the ocean are amazing investments, yet will require some years to develop a demand. Following suit of various celebrities who have put their money down already, if you are patient enough, an investment in Azuero could be the best move you'll make in your life. Longest Return: Until the early part of the century, Casco Viejo was the thriving cultural centerpiece of Panama City, vibrant with fresh Spanish architecture, bustling plazas and courtyards, as well as perhaps the best view of the city's skyline. Today, its narrow cobblestone streets, ornately-detailed building facades, and indubitable European flare serve not only as a reminder of what it used to be, but what it will become in the future. The return on an investment in Casco Viejo can be significantly longer than elsewhere, but ask anyone in Panama where the heart of real estate in Panama City will be in ten years, and you'll hear the name.
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