As real estate prices continue to escalate in popular Panama destinations such as Panama City and Boquete, investors are beginning to look at emerging markets elsewhere in Panama. Matt Landau, an expert in Panama real estate and publisher of The Panama Report, recently wrote an article on some of the budding markets in Panama. Here are a few of the suggestions from his article:
Penenome and La Pintada: These communities, less than two hours from Panama City, are near a major copper mining project currently planned.
Puerto Armuelles, Chiriqui: This coastal city just south of the Costa Rica border is on the path of a crude oil pipeline project connecting Bocas del Toro on the Caribbean to the Pacific Ocean.
Boca Chica, Chiriqui: This coastal town on the Pacific Coast has been made more accessible by new roads and a nearby international airport.
Pedasi, Los Santos: An up and coming tourist destination, famous for surfing, sport fishing, and rainforests.
These are a few of the locations described in Landau’s article, who cautions real estate investors to perform due diligence when buying real estate in Panama’s emerging markets. While there is an obvious potential for a higher rate of return in up-and-coming areas, there is also an increased amount of risk associated with investing in these types of locations.
Have I missed something? Boca Chica – “nearby international airport” – David?? It has a few flights a week to Costa Rica, but “international airport” implies . . . Don’t we all wish??
Panama is investing $24 million in the David airport now. In 1 year – 2 at MOST there will be direct flights to and from the states – I live here, and the expansion’s been in all of the Panama newspapers. The airport has been changing in preparation. 737′s have landed there in the past, for various reasons, but they’re expanding the runway big time – soon. The road to Boquete is being expanded into a 4 land highway as well. In spite of the international RE slump the domestic market is ding just fine.
The city of David is booming. I live in David & the number pof malls & offices being built is amazing and this is REAL growth – not the Panama city condo – style (which is artificially maintained by our friends slightly to the south) The airports has already moved the rental cars onto a new remote area to make room for an expanded terminal.
If you can buy in David do so . Quality Commercial properties are FULL as soo as they’re done and appreciaing at 15 – 20% a year. I am selling an ofice condo now, so I know. tim at http://www.boqueteland.com
Investments opportunities today are also in commercial properties were cap rates are above 12%. The influx of multinational companies continues to grow and they are demanding lease office space as well as furnished apartments for the foreign executives
You are 100% correct !! It is great to see. we need better jobs for the locals. Tim B at Boqueteland.com