Aerial View of Panama City, on the Calidonia area.

Calidonia Attracting Long-Term Property Investment In Panama

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Undervalued property in central Panama City is hard to find these days. From the oceanfront skyscrapers to the historic old town’s rehabilitated colonial structures—there isn’t much left for bargain hunters in this booming city.With GDP growth rates reaching double digits several times in the past decade, Panama’s economy—and its property market—remained relatively unscathed during the global recession. And with sustained GDP growth rates of about 6% expected through at least 2020, it comes as no surprise that Panama City’s property market continues to experience high demand.

It also comes as no surprise that many of these high-demand properties are selling for US$3,000 per square meter and higher. The old town of Casco Viejo, which is designated as a UNESCO World Heritage Site, is in especially high demand, with prices as high as US$5,000 per square meter. Apparently, you just can’t build centuries-old colonial buildings like you can Continue reading