Todays look at the Panama Real Estate Market and what the future might hold

Interesting times for the Panama Real Estate market and also much confusion

There has been talk recently by agents and the myriad of Real Estate experts that Panama seems to be blessed with concerning the health of the Panama Real Estate market.

A Person would be looked upon as the "Village Idiot " to say everything in the Garden is rosy but the market in Panama has changed and so too the agents that will be selling property for the forceable future.

The Pre construction market is all but redundant and this is the reason that we are hearing the overtures of doom and gloom from Brokers in Panama, lets face it the majority of agents came to Panama looking for easy picking selling Pre Construction property. There were plenty of buyers and lots of nice renderings available to entice buyers to sign contracts and write checks with the promise of huge profit increases and the ability to sell prior to closing or "Flip". Finding punters was not a challenge and those offices with good cash flow could spend money on brochures and "Pay Per Click" advertising to find them.

However the market has changed and it is acknowledged that we have entered a new realm of selling Real Estate in Panama, those nice renderings have now turned into concrete towers and the wonderful drawing of Master Bedrooms adorned with fine furnishings have now become a condo with white walls, no furniture or even drapes.

Panama has finally entered into the secondary market, possibly sooner that expected but this is partly due to the ability to sell an contact inside a corporation prior to the completion of the building. This however also complicates sales figures and records because a corporation sale does not show on public record that a property has actually sold and for what amount. How can anyone really know what is being sold and at what frequency if there are no tangible records to prove this. This is a big factor when we look at sales figures in Panama, it is common knowledge that sales have slowed down but the numbers reported cannot be accurate.

With a lack of a true MLS in Panama the skill to market and sell resale property is much harder to achieve than selling Pre Construction. How does one get a price comparison between to buildings? How do you find out the true selling price of units in the building?

These are all problems that agents and buyers encounter when looking at property in a re sale market. A common remark that can be heard from buyers is that a certain building is selling for $1,500 a sq meter so why should I pay $1,600 for this building. A good question but you must not compare "Apples with Oranges"

Agents and buyers must have an understanding of what they are buying and be able to do a comparison based on other available units. Question like quality of workmanship, appliances, A/C, warranties, HOA Fees, Amenities all need to be considered when calculating the price of the property.

Brokers and sellers attitudes will need to change, no longer can property be sold on the fact of a huge gain in the price of the condo.
Geoff Sinker from GLS Properties Services S.A. say" I am enjoying this market, as a small sized company in Panama is no longer have to compete with the bigger agencies here in Panama, this is now about expertise and experience in the Real Estate market. Its hard work but the rewards to me are much better"

It has also noted that certain developers have now adjusted there sales force to focus on selling resale property in Panama.

Panama is still a viable country for Real Estate, the occupancy level might go down slightly but when that level was at nearly 87% even a 10% drop means a very high occupancy level. If new buildings are cancelled as reported then there is less competition out there so the level of available condos remains the same.

Agents and sellers face a difficult time, but so do buyers when they try to ascertain the correct price they should be paying for a condo in Panama. The good news in all this being that there are still buyers out there.

For more details on Panama Real estate and resale property please visit http://www.afloridarealtor.com

Latitude Tower 3 bed condo in Costa Del Este

Price: USD $ 350,000
Latitude is located in Costa Del Este, this 3 bed 3 bath apartment with Maids quarters will be available in May/June. The unit is priced very low for this area so offer a great opportunity to own in a up and coming community like Costa Del Este. Contact now for more details.

THE BUILDING:- Tower with 34 levels Apartment of 232mts2:- Living room / dining room- Den- Enclosed terrace- Kitchen with breakfast area- Laundry room- Maids room with bathroom- 3 Bedrooms - 3.5 Bathrooms- Bedrooms with walk in closet, master bedroom with private balcony.SOCIAL AREA:- Gym- Great events room- Sauna and jacuzzi- Playground/Kids Area- BBQ area- Swimming Pool- Mezanine

For more details on this and other great properties in Panama please visit:

http://www.afloridarealtor.com/property/hotproperty/property/panama/latitude-panama-3-bed-condo-resale-panama.html

Or call Geoff Sinker on +1 800 959 6620, Panama +507 6650 9387
Email Geoff Sinker

We have other great listings available in Panama with prices starting from only $87,500

Panama Real Estate

If you are an Owner of a property and would like to resell your property please
call and talk to our resale department.

We have buyers looking for resale property everday.

We always work with other Brokers.

Para mas detalles sobre esta y otras maravillosas propiedades en Panamá, por favor visitar:

http://www.afloridarealtor.com/property/hotproperty/property/panama/latitude-panama-3-bed-condo-resale-panama.html

O llamar al Sr. Geoff Sinker al +1 800 959 6620, Panama +507 6650 9387
Email Geoff Sinker

Tenemos otras grandiosas propiedades disponibles en Panamá con precios que empiezan desde solo $87,500.

Panama Real Estate
Si usted es el dueño de alguna propiedad y le gustaría venderla, por favor llámenos y converse con nuestro departamento de ventas.
Tenemos compradores buscando propiedades en reventas todos los dias.

Saludos

Vista Del Mar 1 bed condo great Ocean Views at a low price

Price: USD $ 237,000
Vista Del Mar 25th Floor Panama Resale
"Price has just been reduced"
One bedroom apartment 105 Sq Meter Spectaculars views of the City and the Bay. Vista del Mar Tower’s facade, leaves aside the simplicity of today’s architectural design tendencies, to emulate monuments of the past, thus satisfying the taste of a great portion of the market that desires the old fashion glamour of the past.
Its interior distribution, with opened spaces, enables residents to decorate to their liking from modern to classic styles. In the common areas of this modern chateaux, diverse tendencies are mixed from the social area, in the upper level you will be able to contemplate the most spectacular panoramic of the Bay and City, including the Casco Viejo, the green areas of the Metropolitan Park and the Panama Canal.Property will be completed in 2009This is an assignable contract.

For details on this and other great resale property in Panama visit:

http://www.afloridarealtor.com/property/hotproperty/property/panama/vista-del-mar-25th-floor-condo-with-ocean-views-in-panama.html

Or call Geoff Sinker on +1 800 959 6620, Panama +507 6650 9387
Email Geoff Sinker

We have other great listings available in Panama with prices starting from only $87,500

Panama Real Estate

If you are an Owner of a property and would like to resell your property please
call and talk to our resale department.

We have buyers looking for resale property everday.

We always work with other Brokers.

Para mas detalles sobre esta y otras maravillosas propiedades en Panamá, por favor visitar:

http://www.afloridarealtor.com/property/hotproperty/property/panama/vista-del-mar-25th-floor-condo-with-ocean-views-in-panama.html

O llamar al Sr. Geoff Sinker al +1 800 959 6620, Panama +507 6650 9387
Email Geoff Sinker

Tenemos otras grandiosas propiedades disponibles en Panamá con precios que empiezan desde solo $87,500.

Panama Real Estate
Si usted es el dueño de alguna propiedad y le gustaría venderla, por favor llámenos y converse con nuestro departamento de ventas.
Tenemos compradores buscando propiedades en reventas todos los dias.

Saludos

Destiny Tower 2 bed condo with stunning Ocean Views

Price: USD $ 370,000
Destiny Tower 32nd Floor Panama ResaleThis Type C floor Plan on the 32nd Floor will sell itself. The warp around Balcony at this level will have views to die for. Call or email me now with your contract offer.
BUILDING AMENITIES •Designed by world-renown Architect Isaac D Mizrachi, several times the winner of “best architectural works” by the Panamanian Society of Engineers and Architects. •Magnificent two-story lobby •Elegant Porte-Cochere entrance. •A one-of-a-kind entertainment deck on the 51st floor with bar, BBQ area and sun deck. •Heated infinity-edge swimming pool featuring outdoor beds, cabanas & chase lounges •Ambient Music system throughout general areas •Ultra modern high technology Fitness Center and Spa on the 27th floor overlooking the Pacific Ocean •4 high-speed elevators •State-of-the art Business Center and Conference rooms •Covered parking in secured garage •State-of-the-art 24-hour security service with monitored cameras. •24-hour Valet parking and bellman •24-hour controlled security access •Modern Design Party room on the 28th floor •Convenient mail and package receiving desk •Concierge •Property management available •Storage Deposits available for sale YOUR RESIDENCE FEATURES: •Incredible unobstructed city and bay views from every residence. •Private balconies with glass railings featuring spectacular panoramic views of the Pacific Ocean. •Floor to ceiling glass doors to balconies •Air conditioning with individual unit controls •Pre-wiring for high-speed internet, data/voice and cable access. •Energy efficient, tinted impact-resistant sliding glass doors and windows •Spacious living rooms with adjacent terrace •Oversize walk-in closets. •Top-of-the-line full-size stackable washer & dryer. YOUR KITCHEN INCLUDES: •Premium Italian cabinetry with stainless steel door handles and drawer pulls •Imported marble (granite) countertops •Samsung refrigerator with ice maker •Stainless steel appliances •Extra large dishwasher featuring a sound package for silent operation •Large, self-cleaning oven •Modern stainless steel sink with under-mount installation •Imported tile on floors MASTER BATH INCLUDES: •Imported marble vanity tops •Wall-to-wall vanity mirrors •Glass enclosed tubs in master baths •Elegantly detailed designer fixtures and faucets

For more details on this and other great properties in Panama please visit:

http://www.afloridarealtor.com/property/hotproperty/property/panama/destiny-tower-32nd-floor-resale-panama.html

Or call Geoff Sinker on +1 800 959 6620, Panama +507 6650 9387
Email Geoff Sinker

We have other great listings available in Panama with prices starting from only $87,500

Panama Real Estate

If you are an Owner of a property and would like to resell your property please
call and talk to our resale department.

We have buyers looking for resale property everday.

We always work with other Brokers.

Para mas detalles sobre esta y otras maravillosas propiedades en Panamá, por favor visitar:

http://www.afloridarealtor.com/property/hotproperty/property/panama/destiny-tower-32nd-floor-resale-panama.html

O llamar al Sr. Geoff Sinker al +1 800 959 6620, Panama +507 6650 9387
Email Geoff Sinker

Tenemos otras grandiosas propiedades disponibles en Panamá con precios que empiezan desde solo $87,500.

Panama Real Estate
Si usted es el dueño de alguna propiedad y le gustaría venderla, por favor llámenos y converse con nuestro departamento de ventas.
Tenemos compradores buscando propiedades en reventas todos los dias.

Saludos