Panama real estate has achieved international acclaim for its rapidly growing market and its surging real estate development. With thousands of retirees and Americans turning to Panama for its breathtaking scenery and even more breathtaking costs of living, it is easy to understand why. For starters, the Panama City real estate market is forecasted to grow by up to 40% in the next three years because of a massive reconstruction project in Panama City.
Donald Trump’s Ocean Club Panama
The Panama City real estate market is going to experience a surge of new architecture in the next few years. Blueprints are calling for the construction of $600,000 homes, yacht clubs, five star hotels, golf courses, and additional buildings by some of the world’s leading real estate developers like Donald Trump. Trump’s Ocean Club Panama will contain luxurious condos with spectacular views of the Pacific Ocean. The amenities will be exactly what you would expect from a real-estate project run by Donald Trump.
Ice Tower—Central America’s Tallest Building
To give you an idea of what is happening; Panama City’s “Avenida de Balboa” section is goingto have seven of Central America’s largest towers built there. For 2010, the Ice Tower, a 1,250 ft. 101 story five star hotel/apartment building in the busiest district, is expected to go underway. In addition, beachfront properties along the Pacific Ocean are also going to launch.
Panama Real Estate Boom
This is nothing short of a real-estate boom that hasn’t been seen in years. If you are an investor, this is the time to jump in. If you are a prospective retiree, then now is the time to buy your piece of paradise. You Must See the Panama Real Estate Explosion.
Panama City real estate is an absolute steal compared waterfront properties in the US primarily because of the cost of living. With the ability to become a resident in less than two months, retirees are eligible for discounts on top of already rock bottom prices. Need bridgework done? Expect to pay no more than $700 and avoid the $5,000 fees US dentists charge. Luxury apartments could also be had for a lot less and property taxes are at all-time lows. Plus, services like TV and internet cost no more than $40 a month with basic phone service going for $3 a month in some areas. Luxury living is dirt cheap; with live in maids commanding $150-300 a month salaries and the average haircut costing about $1.
Best Place to Buy Property in Panama
The best place to buy properties in Panama City are in its condos facing the ocean and those located in the Avenida de Balboa area which has become the hub for future real estate development. In addition to real estate, the Avenida de Balboa area has a dazzling array of restaurants, hotels, bars, and sporting areas.
Freeways leading out of the city lead you to its international airport in as little as 10 minutes. Plus, as discussed earlier, this area has had the attention of Donald Trump and other large projects such as the Ice Tower. Anytime one of the richest business moguls of all time takes interest in an area, real estate investors and retirees have to take that into consideration.
All in all, Panama City and the surrounding areas are an excellent place to retire. With the cost of living 1/10th or more as it is in the States along with the innumerable benefits of rising real estate properties for investors, Panama City is nothing short of a goldmine.
Top real estate developers are planning projects and many are looking to Panama as their next cash cow for the future. Look to Panama as your next retirement or investment opportunity today.
