Great insight from Kent Davis, a leading expert on Panama real estate
Panama’s real estate market took an uppercut to the jaw with the release of the Panama Papers, back in 2016.
A subsequent series of financial scandals, an inept president, and a strong US dollar that kept traditional Panama property buyers, such as Canadians and Europeans, on the sidelines continued to pummel the country.
A soft local economy, market inefficiencies, and an increasing supply still looms over this expat haven of fewer than 4 million residents.
Despite this, construction continues, and the economy is predicted to grow by 4 percent in 2020.
But will the recovery happen fast enough so sellers who’ve had properties on the market for 24 months or more are able to find a buyer?
And can Panama, like boxing great Roberto Durán, recover and come out swinging in 2020? Read on…