Profile cover photo
Profile photo
RealEstatePanama.ca
6 followers -
Panama Real Estate, tropical real estate, beach properties, Eldon Spears
Panama Real Estate, tropical real estate, beach properties, Eldon Spears

6 followers
About
Posts

Post is pinned.
Real Estate Prices in Panama City are on the Rise!!  The supply of the 2 and 3 bedroom condos priced under $350,000 dollars in areas like San Francisco, Punta Pacifica, Marbella, Bella Vista, Avenida Balboa and El Cangrejo is getting extremely low!!  If you can find a good deal, I suggest you buy now!

Investors, contact me and I can explain to you exactly what is happening here!  fiveironspears@gmail.com

As for real estate in the beach areas of Coronado, Nueva Gorgona, Playa Malibu, Punta Barco, Riomar, San Carlos, Playa Blanca, Rio Hato, Farallon, and Playa Corona, prices remain steady, but the market is slow.   These areas have many new projects in pre-sales, and coming online at a time when the market just isn't ready for them.

Projects like Ocean Waves, Punta Caelo, Playa del Sol, Royal Palm, Punta Vela, Coronado Golf, El Palmar, Fontanella del Mar, Playa Blanca Resort, Buenaventura, Vista Mar, Lighthouse, and countless smaller competitors are flooding the market with literally thousands of condos. 

Until recently, this hasn't been much of a problem for the market, but there are a couple of factors that are really affecting not only the developer's abilities to sell their condo projects as quickly as in the past, but home resales are slowing as well.  

The first and largest factor affecting beach sales currently is the strength of the American dollar.  Even more, the weakness of the Canadian dollar.  This affects the market two-fold; first taking away the spending power of Canadian retirees living in Panama on a fixed income.  Their pensions just don't go as far, forcing many to down-grade, or get out all together.  This increases the presence of resales on the market.  Secondly, the number of new Canadians actually pulling the trigger on a purchase is significantly lower with many hoping to get their spending power back before parting with their precious and hard earned savings.

Why do Canadians affect the market so strongly?  Because in the great white north, all we Canadians do when not tied up with working in 30 below temperatures, playing hockey, and jumping frozen batteries in the neighbor's car is sit and stare at a computer screen with a beautiful white sand beach, and crystal clear blue ocean water.  Yes, we are a large demo of beach buyers that is felt when absent.  Everything we do affects this beach market.  

Now, this dollar weakness has really taken hold just as we have been entering the Canadian summer months.  This has a strong affect on the market as well, although shorter lived, this alone can slow the market into November/December. 

Now, I use Canada as an example because that really is my largest client demographic, but this goes for other cold countries who make the trek to Panama as well.  Places like Russia, Norway, Germany, United States, Chile, Colombia, China, and the list goes on.  

Panama is a US dollar tagged country, and the stronger the dollar, the more expensive things become for many of the Global buyers.  North Americans comprise only 20% of all of the foreign buyers in Panama, so it's always important to appreciate this fact when investing in Panama real estate!!

Hope to see YOU in Panama soon!!

Post has attachment

Post has attachment

Post has attachment

Post has attachment
Beach Paradise only $139,900

Post has attachment
Investor's special in Panama City! Located meters from the 12 de Octubre train station, 3 bedrooms, 2 parking spaces. Rent easily for $1,100 per month, or live and retire in Panama City!!

Post has attachment
List with RE/MAX Beaches & City and get access to the MLS and over 100,000 agents in over 100 countries! You cannot afford not to be listed with RE/MAX! **each RE/MAX office is independently owned and operated.

Post has attachment
Fabulous home in the exclusive gated community of Embassy Club in Panama City. Great place to raise the family, only $985,000

Post has attachment
The price has been reduced on this oceanfront treasure of a house. 5 bedrooms, 2 master bedrooms a casita, and a beachfront pool and bohio! $699,000 RE/MAX Beaches & City!

Post has attachment
Wait while more posts are being loaded