Real Estate in Panama City

This is an informative article from BusinessPanama.com concerns the market at the current time. The article mentions different neighbourhoods of Panama City and what these offer the real estate purchaser. Panama City offers a modern infrastructure, the rainforest nearby, nightlife and entertainment, great shopping and parks with great views of the Pacific Ocean (the bay) and the skyline of this city.

"Panama City currently has an undervalued real estate market; however as has happened in countries like Costa Rica, Mexico and Ireland, prices have been rising as more people discover the advantages Panama has to offer. As a potential real estate investor, there are several areas to consider where you will find maximum growth opportunities.

Panama City with almost one million inhabitants is a "first world" urban center in the throes of a major building boom. The skyline of Panama City, with its projected 250 high-rise office and condominium towers, is starting to resemble downtown Manhattan or Singapore. High class restaurants, first class hotels and fast food outlets, are here for all tastes and pockets. Entertainment is varied, the latest movies, concerts featuring foreign and local performers of all genres, every kind of sporting event – baseball is arguably the most popular sport and a number of Panamanian players are found in US major league clubs. Mention Mariano Rivera and the New York Yankees and you will make friends immediately! Shopping options range from local markets to multi million dollar super malls and luxury goods. The Amador Causeway has a number of great restaurants, yacht clubs and a duty free shop, it is also a great place to bicycle, jog or walk with sea breezes and a great view of the stunning Bridge of the Americas. Panama City even has a rain forest within its city limits.

There are many residential districts in and around Panama City. Beautiful condos with fantastic ocean views are available in price ranges to suit all pockets. Many have the use of a pool, spa, gym and children's play areas. The most beautiful condominium towers like “Megapolis” and “Yacht Club” will be built in the Balboa avenue right on the ocean. Beneath the Balboa avenue, you find a high class condominium area called Marbella overlooking Panama bay, near movies, restaurants and shopping. Bordering Marbella is a residential and commercial district called Obarrio with trendy restaurants, clothing shops and high end boutiques. This is a favored embassy area. Adjacent to Marbella is a luxury residential district called Punta Paitilla. This is an extremely dense area of high rise condos even by NYC or Singapore standards. Punta Pacifica, next door to Paitilla, is a brand new area where ultra luxury condominiums are sprouting from the ground with average units in the 1000 to 4000 square foot range. This is where ultra modern buildings such as the Dupont Towers and OceanAire."

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Canadian Writer Says Panama is a good buy

A news article at laestrella.com released a story written by a writer from Canada announce that Latin America is a good place to purchase real estate in Panama. Prices will rise when the recession is over. Canada, a country which was not as effected by the current recession and is currently in recovery mode already showing light at the end of the tunnel, announces that Panama is a good place to purchase real estate. It was announced in the Canadian press that the recession is over in Canada. One of the reasons for this is the strength of Canadian banks which were never effected as much as American banks at the beginning of the world wide recession.

"Now is a good time to buy property in Latin American countries such as Panama says a real estate writer in Canada.

Writing in the Vancouver Sun, Tom Kelly, a US-based author of two books on buying real estate in the region, said that Panama "is a bargain right now," although he added that "it costs money to get there".

Mr Kelly was aiming his remarks at Canadian buyers on the basis that the country has been hit less hard by the recession than the US.

However, in comments that may be relevant to UK buyers as well, he suggested that the best time to get bargains is while the US is in the doldrums, as prices in Latin America will rise when it recovers and more people from the country are able to buy overseas.

Earlier this month, founder of US developer Amble Resorts Ben Loomis remarked that the "growth and stability" of Panama makes it attractive for investors. He also noted the country’s strength is due in large part to the canal."

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U.S. Developers Find Haven from Recession in Panama Project

The following is a press release regarding Amble Resorts' new Panama resort project on the Isla Palenque, Panama. Property development in Panama is rising, with many investment companies developing eco-friendly, sustainable resorts and communities.

"During a sluggish economy here in America, real estate developers are finding a growing number of intriguing opportunities overseas. With the Wall Street Journal recently reporting a rise in unemployment in all but two states last month -- and with economists predicting it to increase even further -- the sliding economy continues to severely cripple domestic real estate development.

"The reality of what's going on is that there is no private development going on in the U.S.," says Randy Johnson, AIA, Principal of 4240 Architecture Inc., an award-winning national design firm contracted by Amble Resorts for their new Panama resort project, The Resort at Isla Palenque. "At the same time however there are exciting prospects overseas."

Properties in Panama are emerging to present those prospects to American developers. Panama enjoys one of the fastest-growing and best-managed economies in Latin America. The expansion of the Panama Canal, combined with a blossoming free trade agreement with the United States, is expected to continue to boost economic expansion and real estate development.

Founder and President of Amble Resorts, Ben Loomis, has been well-aware of the growing economy in Panama compared to the slowing economy here at home. That's why in 2007 he selected a Panama real estate project for his newest venture: The Resort at Isla Palenque. The resort will be comprised of an ecologically and culturally sensitive hotel and string of environmentally sustainable vacation homes. Amble will break ground on the eco resort project in early 2010. Loomis said of Amble, "Although the economic climate is not the only reason we chose to build our property in Panama, we were definitely attracted to the growth and stability there."

And Amble Resorts is far from alone in this sentiment. American companies are flocking to Panamanian development projects in droves. Several top-tier U.S. firms have joined forces with Amble on this new eco-tourism-focused Panama resort project. In addition to 4240 Architecture, East Bay Group, Design Workshop, and RCLCO are also among the distinguished firms teaming with Amble to take advantage of Panama real estate.

"In the last couple of years, domestic projects have fallen off dramatically," says Rick Reikenis, P.E., Principal for East Bay Group, a renowned engineering firm. "We are very excited about the possibilities in Panama and our current projects there."

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