According to recent trends there will be an increase of 30% to 40% in Panama land appraisal figures in the year 2007. The Panama real estate boom is real and the future looks bright.

 
The appraisals of land in Panama, specifically in the city, have tripled, especially those found along the coast. This growth in the appraisal of land in Panama is product of the worldwide campaign when it was promoted as “paradise or route to be discovered” and the detonator of the “real estate boom.” 

The appraisal of land in Panama, is also linked to events and factors such as: the expansion of the Canal, the announcement of companies such as Pinkerton Intelligence Agency which assured that Panama is a country with a great level of security; the divulgence in New York of the construction of “Trump Ocean Club International Hotel” and low risks for natural disasters.

Land appraisal in Panama has equally emerged due to the improvement of  the city towards a large cosmopolitan city.  Important catalysts like the dollar, tax incentives and a stable international banking center, have contributed with the positive appraisal of land in Panama. 

The Panamanian Chamber of Construcction(CAPAC) revealed that in 2006 the amount of investors in residential real estate projects were of about 1, 200 million dollars, as for 2007 seems very promising even considering high land appraisal in Panama. 

A great number of Panamanians have benefited from the wave of appraisal of land in Panama, as well as investors who purchased and are still purchasing besides the appraisal of land in Panama. Among the most popular areas and of higher appraisal of land in Panama we have Balboa Ave; Punta Pacífica, Costa del Este, Paitilla, Coco del Mar and San Francisco, for its seaside views and access to the city. 

Other areas that have also registered an increase in the appraisal of land in Panama are: Marbella, Obarrio, el Cangrejo, Los Angeles, Villa de las Fuentes, El Dorado, La Alameda, Bella Vista and Dos Mares.  The appraisal of real estate in Panama increases when there is the presence of an added value such as modern malls, luxury towers, marinas, yacht clubs and golf courses. 

The recent appraisal of land in Panama, include reverted areas such as those  surrounding the Canal, Albrook, Clayton and Quarry Heights.  The increase in the appraisal of land in Panama has extended to the province of Bocas del Toro on the Caribbean coastal line, one of the most renowned and great tourist destinations of Panama, as well as sectors along the pacific coast like Chame, Coronado, Punta Barco, San Carlos, Gorgona and Playa Blanca.  

Higher real estate appraisals are also being found in regions like Boquete, Volcan, Cerro Punta and the beaches of Alanje in the province of Chiriqui. European, Americans and South American promoters view the phenomenon of the appraisal of land in Panama similar to that of what occurred in Miami during the 80’s.

The offshoot of all this is that the appraisal of land in Panama will continue to increase.  The expansion of the Panama Canal in addition to being a huge plus towards  increasing the appraisal of land in Panama, predicts a growth in the rental sector, favorable to the economy of the Republic of Panama.

For information on available real estate in Panama please contact us directly at Inter Panama Real Estate Agency.

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