Panama City, Panama (PRWEB via PRWebDirect) June 4, 2007 - Panama’s Real Estate Market is as hot as it has ever been. Everyday in Panama is jam packed with North Americans and Canadians creating a buzz in Panama’s emerging cosmopolitan city and rippling investment through its coastline. Ken Jones, President of Focus Publications (Int.), S.A. (the leading tourism publication company in Panama), even joined in the frenzy and has developed a piece of property north of Panama City in a town called Arraijan. "Investors buying will receive returns within a very short span, 3 to 5 years, I predict. Real estate companies are completing on average up to 40 transactions a month," says Ken Jones, originally from England, and now with more than 30 years living in Panama.
“When our customers buy oceanfront properties for $25 a SQM and a year later get offered twice this amount, you are doing something right” says Brian Piantadosi, General Manager of Ocean Legacy. Ocean Legacy is a privately held, Internet /real estate marketing company serving the real estate industry providing customers with a comprehensive resource that enables them to research and view oceanfront properties in early development stages. “We work strictly through referrals at this stage” says Piantadosi, “There is not enough inventory for us to meet the needs of every type of investor at this stage. “This is the stage for small to medium developers to come and buy between 10 and 100 hectares, between $15 and $25 a square meter.”
Bill Lento, an appraisal Agent from Cape Cod (an Ocean Legacy client) took 3 trips to Panama, one for an International Living seminar, “I got lucky and met a principal from Ocean Legacy (www.panamavacationrealestate.com) who had common interest with me, deep sea fishing (www.pedasifishing.com) he took me out to Pedasi and luckily found an oceanfront piece of property that was too good to be true. From the outset, they talked about due diligence, guarantees and a rock solid US investment bank (Briggscapital.com) as their reference. After Briggs Capital gave it their seal of approval, I never looked back. I wrote the check, and a year later was offered 3 times what I paid for.”
It s no secret that Panama is of significant interest to investors looking to take advantage of a relatively young market. Goldman Sachs predicts that Central America it will be the world’s fifth largest economy by 2035 and with increasingly frequent direct flights and extensive coastland available for development, Panama is a very promising investment destination. What is more, the Panama is clearly an increasingly affluent population which is another fact which should appeal to potential investors.