Panama - any thoughts or experiences to share?

Discussion in 'Panama Property' started by ExpatNick, Aug 29, 2008.

  1. ExpatNick

    ExpatNick New Member

    Hello everyone,

    I've been offered an off-plan opportunity in Panama City. Does anyone have any advice, expereinces, thoughts they'd like to share with regard to Panama in general and Panama City specifically?

    As always, all (sincere, worthwhile) responses welcome.

    Thanks in advance,

  2. Euroreal

    Euroreal New Member

    Hi Nick,
    Panama is a very interesting spot. As always, it depends on the project and price you have been offered. Here is a very good information resource on Panama investments:
    www (dot) primapanama.blogs (dot) com

    The hotel sector is especially interesting. Panama city Hotels in 2007 had the second highest occupancy rate in the world (even exceedeing Dubai) at around 85%

    Here is another good site:
    www (dot) thinkpanama (dot) com
  3. gsinker

    gsinker New Member

    Panama property

    Hi I have experience n the Panama market and I actually live in La Cresta area of the city.

    This is a thriving location and as Euroreal stated Panama has one of the best occupancy levels for Hotels anywhere in the world.

    If you are looking for a sound investment with a great rental return you would do well to look at Panama.

    Having said do remember like anywhere in the world Location, Location, Location. Just buying in Panama doesnt always means it will work. Some developers are building new projects in areas that will not fair as well as others.

    Were is the property located I might know the property and the developer?
  4. Gashead

    Gashead New Member

    Yeah, if you fall out of your canoe try not to have photographs taken with your real estate agent.
  5. dan smith

    dan smith New Member

    I was thinking about investing in the Denovo apartments (adsum group) [check out google] on Samuel Lewis avenue...Anyone with any insight into the location and development?

  6. gsinker

    gsinker New Member

    What is your reasons

    Hi I am intrigued why the Denova Apartments. I work in Panama City and I know the project.

    I have been very warey of the project because of the high returns they are claiming.

    I cannot see how they can operate the property and also pay out such high numbers to the owners.

    I only work condo hotels if the numbers make sense.

    The condo hotel has to wash its face and operate in the correct way to ensure success.

    I have seen so many project around the world go bust because the numbers were not right.

    PM me if you want to talk in more depth concerning Condo Hotels in Panama.
  7. dan smith

    dan smith New Member


    what would be a more realistic yield - they are claiming 14%? is this over cooked!!!
  8. gsinker

    gsinker New Member


    Hi Dan,

    I dont think that 14% is overcooked for Panama, what i dont know with Denova are the rental terms for the project.

    Denovo is not a Hotel it is an apartment building that has a rental program, that will be the weak spot.

    Sadly developers around the world take the occupancy levels for Hotel in the area and adopt them for the own building. You must understand that to get Hotel occupancy numbers you have to own a hotel room.

    This debvelopment will work on monthly rents not daily so the numbers will be slightly different to those acheived by a Hotel.

    Panama does have a very high Hotel occupant rate so you might be best looking at a Condo hotel apartment if you want to have a high ROI.

    If you would like to talk in greater detail before commiting call me on 800 959 6620

    You also might want to check out the New Condo Hotel just launched in Belle Vista called Nations Hotel Panama
  9. sebastiani

    sebastiani New Member

    Panama: The buy-to-let property market is still thriving

    Panama has led tourism growth in Central and South American countries for two years running, posting back-to-back 20 and 30 percent gains in 2007 and 2008, respectively. Last year, the country surpassed the one-million-visitors mark, welcoming 1.2 million leisure travelers. That's about how popular Costa Rica was in 1999—before it emerged as a solidly mainstream destination. Compared with Costa Rica, Panama has more animal species and a larger amount of preserved terrain filled with colorful macaws, monkeys, and endangered shore birds.
  10. gsinker

    gsinker New Member

    The best thing about these figures is that they can be proved, In Panama we dont have to project figures. Some things might be slightly higher on a monthly basis but in general they remain solid.

    There has been talk in prices dropping in Panama but what they really mean is the way over the top profits buyers wanted to get on the resale market have come back to acheivable levels.

    I am sorry but someone thinks they will make over 100% profit inside 12 months needs to be buying in one of those crazy "Hot Spots" that the spin doctors tell you about that havent been built yet.

    Yes there is a profit to be made in Panama but common sense needs to kick in at some point.

    The rule is "If its to good to be True then it aint" ask most people in Bulgaria and Dubai.
  11. Off plan properties show higher risk than already built apartments. E.g. in Dubai, many people who bought off-plan properties faced the bankruptcy of the developer and their apartment never got built and second the lost what they already had paid. Thus careful due diligence on the property developer is being adviced and in case of doubt, better to buy something real not just a promise.

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