You hear mainly about the residential real estate sector in Panama, but commercial real estate is also enjoying a rise in demand due to the increasing number of companies moving to Panama or opening new offices in Panama. Demand for office space remains healthy, with several new commercial buildings under construction, including the Revolution Tower.
Despite the world crisis real estate in Panama has not suffered like much of the world has. Prices have dropped somewhat but not significantly overall. There are still opportunities for retirees and investors alike to buy property in Panama. Prices vary greatly depending on the locations you are considering, but there are real estate options for virtually all budgets.
Apart from this if you are thinking of buying property in Panama then selection of real agent matters a lot and there are lots of choices to make to select an agent. But in our opinion, there are only a few good
Panama real estate companies worth considering. Most agents have few listings and will try and sell you what they have instead of what you want. Others, you will find, won’t even respond to emails or phone calls. You can test it for yourself. Many agents are unlicensed and there are all types of shady deals that go on in Panama such as increasing the sellers’ price so agents make a higher commission – things that in other countries the agents would have their license taken away. Bribery and corruption are everywhere in Panama. There is very little regulation in Panama, and what regulation there is rarely enforced. Be cautious while selecting any property in panama and beware of fraudsters.
