Panama Real Estate – News & Investment Information

I have spent the last few days reading all the press about Panama’s Real Estate market and in some cases I read all the negative stuff in blogs such as the ones’ Sam T is promoting on primapanama’s blog and the few negative reports on La Prensa, Panama’s top newspaper. There are also some good reports on various international and local panamanian websites that continue to be bullish on the Panama Real Estate market. Sure most of these have a hidden agenda and most have a financial interest behind their publications but what I do see with my own two eyes is that foreigners continue to flock to Panama in hordes.

Yes, panama is going through some growing pains, who would have expected anything differently from a small country that is experiencing and unprecedented growth in just 5 years? Panama is a country in which things take more time to process than our neighboring partners in the North, and it is just part of the game to see a country going through some tough times in dealing with this real estate meteor shower. Nonetheless, the government is trying its best to continue to promote its country and to make amendments and changes to some laws that they should not have implemented such is the case with the 30 day visa. I am sure that this law will be reveresed within months.

Just like any country in the world, governments make some wrong decisions and mainly they are acting in a political and diplomatic way in order to insure the best for everyone concerned. In the case of Panama is not any different and I truly believe that they are aware that they have made a mistake in passing this law and is doing their best to correct it. Other issues concerning the election of Pedro Gonzales to the national assembly that could effect the free trade agreement are also issues they are addressing. Panama has always been a friend of the United States and have always enjoyed the gringos’ presence in their country. They enjoy their company, their security and their economic power, not to mention all the fringe benefits they receive from having the Americans around. Surely they would not be so ignorant or egoistic to look the other way and ignore these issues that would cause them to be in bad terms with their long time buddies of the north.

Panama is a country rich in natural beauty and culture with very friendly people. Anyone that has come to Panama (except for a few that have had some bad experiences) love this country and can’t wait to get back home and pack their bags to head back down to live, invest, work and play hard like most people in panama do all the time. Panama is a country based on fun loving, and life enjoying principles. Who is to expect that a small country of only 3 million people that has gone through some turmoil with dictators and money laundering narcs for years is to deal with an issue of unprecedented growth without any flaws, that would not be human and definitely not Panamanian style.

Having said that, i think i’ll get back to my hammock and my cold Panama Cerveza before my Sancocho gets cold!