Panama Real Estate Boom is REAL
Panama is a healthy, growing economic phenomenon following a carefully orchestrated plan. BY JON HANNA In a guest column in Latin Business Chronicle, September 26, Walter Molano claimed that “the real estate boom in Panama City may be a bubble”. He also argued that Panama’s infrastructure is inadequate to meet the newly built apartment boom in Panama City. “Although the newly built towers are beautiful, the roads are atrocious, the hospitals are inadequate, and the pollution is rampant.” I interviewed attorneys, real estate brokers, property developers, and even an economist. No one disagrees that Panama is booming. Major international companies, retiree’s world wide, Expats looking for second homes and investments are discovering the numerous advantages of Panama. Even the columnist agrees, “Panama is booming”. He also wrote, “The economy is growing more than 6 percent y/y, with the possibility of exceeding 7 percent this year.”
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