I continue to get the question from buyers, do you think now is a good time to buy? YES!! In 2012, in Panama, housing sales increased by 13 pecent, and will likely climb by another 16% in 2013. This is not only due to foreigners buying here. Of course it helps, but what is really driving the housing market in Panama at present is just the fact that it is becoming more prosperous for it's citizens. The middle class is growning everyday, and thier incomes are too.
Many Panamanians now can afford to buy a home in the suburbs, or a condo in the city AND a beach property to enjoy on the weekends. The economy here grows every year by well over 10% and often close to 20%. People from governments all over the world are flocking here with their money to avoid taxes, outright government theft, and opressive, failing systems and economies. The Tocoumen airport is busier than ever with travellers using it as their hub rather than the overly secure American airports. New airports are being built close to the beaches, prompting new hotel developments, and the opening up areas of Panama's beaches that before were a hassle to access.
In fact, the population is growing fast. People are realizing that it is very easy to gain residence, start a business, and not only compete for market share, but create it. The country is hungry for new products and services. Every service that we take for granted in North America is overloaded here. All one need do is throw up a shingle, and the business is yours. Money is being spent like crazy!! It is something that you won't believe until you see it. Walk into any retail outlet in Panama, and there are 50 cashiers working to keep the gears of commerce turning as better paid Panamanians spend like never before to achieve the lifestyles they have never been able to.
You just can't help but feel the energy in Panama City. It is electric with change. New subway, no more Diablo Rojos, freshly paved roads absolutely everywhere. Newly expanded Canal, museums, mansions, Porches, Ferraris, BMWs, big hummers and Ford Raptors. It all indicates what is to come for this little third world country.
All this points in only one direction. UP. If you aren't buying today, you WILL pay more tomorrow.