Panama’s Real Estate Boom

By Rudy Estripeaut

January 1, 2007

Now that we have rung in the New Year, Panama and its citizens are preparing for the large influx of foreigners that are arriving during the next 4 months which are Panama’s “Summer Months” or Verano as its known locally. Verano is a great time to visit Panama, with days full of fun, the majority of Panamanians flocking to their weekend homes in Las Perlas, and beaches to soak up the sun and continue to enjoy Panama’s ever so diversified Natural beauty. Panama the “Path-Less Traveled” as its international advertising campaign slogan could not be so right. For years Panama and its local citizens have enjoyed numerous beautiful beaches, islands, mountains, volcanoes and more, and now the world is beginning to discover its endless beauty.

From famous Rock Stars like Mick Jagger, Sting and Bono, and recent visits from famous Hollywood movie stars such as Brad Pitt and Angelina Jolie, John Travolta, Pierce Brosman, Michael Douglas and more, Panama is quickly becoming the elites favorite hideaway, most of them expressing interest in buying property if not so already in reclusive resort areas such as Bahia Honda and neighboring islands to Isla Coiba. Not only does its beaches and mountains provide an idyllic getaway but its booming city is providing top notch Real Estate for retirees and Rock Stars alike. From penthouses over 1200 sq meters with private pools and Jacuzzis 50 stories up in the sky, Panama offers a place for everyone.

Quaint neighborhoods such as in the historical Casco Viejo offer interesting architectural masterpieces and the government incentives to renovate are incomparable, with 30 years property tax exoneration and other tax incentives make Casco Viejo very attractive to investors the world over. San Francisco is another neighborhood with all size modern hi rises to fulfill anyone’s needs, hip lofts such as SF67, sleek Ocean View apartments such as Ocean Sky, small buildings overlooking the Omar Torrijos Park such as Pradera or Park One are just a few that make San Francisco a very attractive neighborhood for anyone.

Punta Pacifica is sure to be Panama’s most exclusive neighborhood with is top of the line skyscrapers and soon to become Panama’s Icon the Trump Ocean Club, this neighborhood is quickly becoming the most sought after address in Panama, beautiful high-rises such as Bahia Pacifica, The Bellagio, Pacific Point, Ocean Park, Pacific Hills, Grand Tower, Dupont Tower just to mention a few, all with full amenities, with Ocean and City Views, these buildings are architectural masterpieces.

Panama also offers some great opportunity for those seeking to buy land, whether it be for development, private homes, agriculture or simply as an investment. With Panama’s strategic location and 2 Oceans, there are many opportunities to buy land in Panama. Some experts in land such as panama-experts.com can assist anyone looking for land in Panama to find the perfect lot, whether it be a small beachfront lot, to large private Islands in either the Pacific side or the Caribbean, the guys at www.panama-experts.com can be a great source for Panama Lands for Sale. Land purchase in Panama can still be a tricky proposition but in the right hands it is all possible, whether you wish to buy in a Right of Possession and then titling the property or finding great tracts of land with beautiful rivers in some of Panama’s most idyllic places.

Panama’s bio diversity has a lot to offer to the seasoned traveler or most ambitious real estate investor. If you seek a hideaway like Punta Caracol for some well deserved R&R, or are looking to rent a private island for the weekend, or go horse back riding, river rafting or if you prefer to party all nigh, you can try your luck at one of Panama’s many casinos or engage in some South Beach style nightlife, Panama has it all!