Panama Real Estate Blunders |
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| Written by Matt |
| Tuesday, 06 November 2007 00:00 |
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Panama is experiencing the kind of real estate boom that could send shock waves throughout Central America. With a huge influx of foreign dollars and new immigrants over the past few years, Panama has found itself in a unique position to grow; however, there are some ugly obstacles that can get in the way.
When preparing to invest in Panama, it can be easy to get excited and do everything at once. But here, we have provided some things to be weary of, and several hitches you do NOT want to encounter on your way to paradise:
The coastal areas and rural regions of Panama are loaded with properties at bargain basement prices, but not all of them are titled. Be very weary of properties with right of possession: properties which are technically not 'owned' by the inhabitant. Most of these properties can become “titledâ€, however this process can vary in time. A titled piece of property on the other hand, is guaranteed to its owner by the constitution of the Republic of Panama and requires much less cause for concern. The old saying often applies, “if it seems too good to be true, it probably isâ€. While Panama is known for its modern skyline and international banking center, it is still the third world, and with that comes some questionable and suspicious real estate-related activity. If you take one look at, perhaps the most closely-analogous country in terms of tourism—Costa Rica—you'll find plenty of chary real estate agents without licenses looking to scam a foreigner like you. Be sure, when you are looking to invest in Panama, to... The remainder of this article, along with many other chapters is available for sale in our Panama Real Estate Report, the best tool for investment in Panama today! We cover topics like finding a realtor, corporations and taxes, and the all-too-nebulous difference between titled property and right of posesssion (ROP). The report is only $99 HERE !!!!
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Comments (6)
  written by wayne , November 06, 2007 why do you do this to us landau?!?!?! why?????/
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 written by Sylvia: ditto , November 07, 2007 Sorry, Matt, but I couldn't agree more...
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 written by Mr Right , December 21, 2007 Ok, so I am ex-pat that returned to Panama after 15 years with family and all. I have lived in Spain for 10 years England 2 years and Washington for 3 years. We have been in Panama for 1 year and there is no hope. Panama City, the Capital, is the only city worth living, if you are a family used to the amenities that the first world can offer such a museums, galleries, parks and fairs. If you don’t mind then Panama is right for you, hence watch out for the worst drivers you can find in Central America
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 written by Mark Jacobson , January 25, 2008 Do you know much about this project or developer; The Green Bay Plaza Project in Costa del Este by Grupo Corcione. I am considering a moderate investment in an apartment here.
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 written by Alfredo , November 21, 2008 Is there a database available or link that one can consult if certain developer (in Panama) is involved or is facing law suits for breaching contracts or flat out ripping off buyers of townhomes / condos?
Better yet how can one find out which are the honest developers? I am currently negotiating a purchase of a townhome in Clayton and after reading a bunch of articles about people getting ripped off by some developers, I need to be aware of staying away from those out to scam people. By the way, I have always had a good image of the people in Panama. report abuse
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| Last Updated on Monday, 11 August 2008 20:53 |
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