Today’s buyers in Panama, Central America’s most volatile real estate market, are voicing serious concerns as a booming economy and soaring real estate prices could be cause for alarm.
Worried about losing your life savings on a faulty real estate project? Considering investing your money in other, more stable and proven markets? Not convinced you’re getting the entire story from the broker? According to the new Panama Report (http://www.thepanamareport.com) and various other sources, you’re not alone.
For investors and re-locaters alike, the Panama real estate market poses significant return on investment, both financially and with regards to quality of life. However, like any risky investment, those arriving to Panama are often thrown off by a common bullet list of fears.
“As an investor, it scares me that there are so little available statistics to go by,” revealed Geoff Walsh, a native of Arlington, Va. in a phone interview. Walsh, an international real estate investor by trade, represents a number of visitors to Panama who show trepidation when it comes to jumping into Panama’s real estate boom.
“I am not convinced that the infrastructure can handle this influx, nor that real estate prices will remain steady,” stated Walsh. “The potential for this market to become oversaturated…that perhaps I am getting in (regrettably) at the height of the boom is what worries me the most.”
Other types of buyers, such as Mary and Steve Thacker of San Diego, who are baby boomers merely looking to escape the high prices of retirement in the USA, express different yet no less genuine fears.
“We’ve lived our whole lives in California and moving to Panama would be a huge jump,” said the Thackers on their blog. “We’re timid about the quality of current pre-construction real estate as well as the rising cost of living. If we wanted a $4 cup of coffee, would could find that here.”
According to The Panama Report (http://www.thepanamareport.com), the majority of people looking to invest in Panama worry about the same things. The stability of the political system, getting an honest quotation from a broker, doing better elsewhere with their life savings – these are all very real concerns and honestly ones that are hard to answer.
“Whether already invested in Panama real estate or considering it seriously for the future, panic does not seem to have yet plagued the industry,” the Panama Report reveals. But with throngs of new direct flights and an ever-monstrous-evolving City and beach skyline, the future of the Panama real estate empire still seems relatively unclear.
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