Boquete’s Real Estate Market Takes a Breather
In our luxury real estate section we’ve got a new story up on the current state of the housing market in Boquete, Panama.
This worlwide recession has naturally affected the property markets in Latin America also, but not as much as you would think, including in Panama. For one thing, if you ever watch the HGTV show House Hunters International you know this region is still a screaming bargain compared to any choice area in the U.S. Second, it’s not just Americans and Europeans buying in Panama. Thanks to power-hungry Chavez, most of the rich Venezuelans have gone elsewhere and one of the prime spots they have chosen is here, not far from home.
But the market is taking a breather, which is a good thing. When prices double in four years, that’s not healthy and the movement attracts a lot of developers with a get-rich-quick gleam in their eye. The eternal spring climate of Boquete is enough of a draw even in prices only appreciate a few percentage points a year, so hopefully now most of the buyers will be those who really want to live there as opposed to those trying to gamble on a quick flip deal.
April 14th, 2009 at 3:09 am
When you are looking for Panama Condos, you may choose the location of the condo according to your choice. You may pick the hustle-bustle of Panama City life or can also choose the country-side, which boasts of numerous beaches and the kind of pleasant environment that is hard to come by. many high-rise condominiums and apartments coming up in the recent past. Panama can throw up a number of interesting options , who wants to spend his or her retirement days in the region. A fast-paced city with a busy commercial life that has almost 50 banks, numerous shopping malls, luxurious five-star hotels and universities of prominence, it is also known for its peaceful country-side.
August 26th, 2009 at 4:18 pm
Panama has a lot going for it, but the secret is definitely out and prices have shot up a lot. Nice if you are already in, but I’m waiting for things to come down before I would be interested. Maybe it will at least stop climbing so fast now.