Property in Panama
Property in Panama
One of the most thriving economies in Latin America is in Panama. While the housing market had a slight decrease during the economic crisis in 2008-2009, it has now improved in several sectors and prices have begun to rise again. Other sectors of the economy such as construction, tourism and logistics are booming and it is expected that the total economy will continue at a strong pace.
The following are three reasons why you should buy a property in Panama:
- Cost of Properties – The cost of housing in Panama has stabilized recently, which is much better than other economies around the world. For a fraction of the price of housing or land in the United States, Canada or Europe, you can buy property in Panama. Another benefit is that there is a wide variety of land plots to choose from. If you prefer the life of the city, then you can buy in Panama City at a great price. Have you ever dreamed of having your own house on the beach? There are many properties in front of the beach for sale that would be perfect for building a house. You can even get a property in the mountains, if you want to have your own cabin in the woods where it is not so hot.
- Construction costs are Low – The construction cost is almost a quarter of what you would pay in other parts of the world, on average, you can build a house with good finishes, such as granite countertops and imported ceramic tiles of approximately 700 at $ 750 per m2, this is roughly $ 70-75 per square foot.
- Comfortable Lifestyle – There is something to do throughout the year when you live in Panama. The climate is warm and ideal, Panama does not suffer from natural disasters and there is a wide variety of activities to keep you occupied. Panama has some fabulous golf courses, hiking adventures and lush beaches, both on the Pacific and Caribbean coasts with snorkeling, diving and fishing. In Panama City there is a wide variety of nightlife activities and restaurants. This makes the area a great place to live and where people still want to rent a vacation home if the price was affordable.
When it comes to real estate, there are many reasons to choose the country of Panama. Housing costs are affordable and construction costs are reasonable and opportunities abound.
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