Kent Davis Explains Why the Real Estate Party in Panama is Over in English and Spanish.
English Version
Spanish Version
@AnaHilarski and I Have Known Kent for About 5 Years.
He is the go to guy for real estate information in Panama. Kent Davis is Hawaiian and has been a resident of Panama for 10 years and during that period he has been focused on the real estate market. He is director and founder of the Panama Equity Real Estate firm.
Panama Equity Real Estate
We are in no way affiliated with Panama Equity. This is just a post showing some love for one of our favorite Panama expats who happens to be doing big things in Panama.
Personally We Love the Downturn in the Real Estate Market.
We are saving to buy a home here in Panama and as the market continues to slow great buying opportunities will arise. As a veteran of the housing collapse in Florida I have seen the types of deals that can be had if you are prepared. This could be one of those once in a lifetime chances.
Yes, sometimes gathering cash and waiting on the sideline for the right opportunity is most prudent. That is what's great about exposing oneself to other countries, there economic cycle may be different than resident country.
Living in FL, I know an opportunity like 2010 probably won't come again for some time. However, other areas are setting up for it. I had started looking in the midwest but need to keep an eye on this if firesale prices occur.
Cycles will always repeat. Get ready to pounce.
Expats loving the housing downfall, so they can buy up the property...I see what's happening, I would love to live in Panama though or at least own a small home in the middle of nowhere.
Right now it is a renters market. In a year or so it might be the right time to buy. I am waiting patiently.
Expats love it there!
We do!
why do expats like Panama so much?
Low cost, no one bothers us, airline hub and the weather is fab!
Pretty much.
I've heard that Thailand is low cost and has a good climate. What do you think of Thailand?
You don't lose your gun rights either, properties have up to 20 year property tax exemptions, getting things delivered is not difficult with the services setup, there's good Internet, the private schools are cheap and good, etc. The list goes on and on and on.... and on...
As I have family in the US, Panama is a quick little hop for me to get back here if needed. Thailand on the other hand is more than a day and quite expensive for people to visit.
Yes, houses are still way overpriced here, and I am glad my money will buy way more in Panama. I have been looking online trying to decide where we would rent at first. I will check his videos and information out. Thanks!
Here is a listing of the same type of house we rent. We don't have neighbors behind us though.
https://www.encuentra24.com/panama-en/real-estate-for-rent-houses/casa-en-las-arboledas-cluster-los-pinos/8690857?search=withcat.real-estate-for-rent-houses|f_rent.450-750|keyword.arboledas®ionslug=panama-oeste
Thanks! I'm still not sure exactly where we will go at first. I will probably want to rent at first as people suggest, then buy a place in a good spot to later rent it. Basically, I will do what I did here, and I only buy houses at prices where I know I can move out later to rent them for a good profit. That way I'm never stuck! Once we get a decent place bought there to live in, probably a beach town, we'll start looking for land to build in the mountains.
many off country ministers affected by panama and its a good for against curreption @hilarski sir
Real estate is falling in London too.
My take: I think the Chinese and Singapore banks which were lending to far-east customers who wanted to buy overseas property, have tightened their criteria. So demand has weakened, and thus prices are falling around the world.
Buyers market!
I'm in Toronto and our realestate crash will be epic! I haven't seen so many for sale signs around here in years! People were buying houses and not even living in them or renting. they just sat there empty gaining equity lol. I think its over.
It is... globally too. The music is quickly fading. Everyone here have a chair?
Panama looks like a great country. What kind of restriction is to live there?
Getting residency is important and pretty low cost compared to other countries. Tourist Visas are 90 days for most countries and 120 days for a few others.
I'd love to visit someday...
I can't believe how many apartments are going up here. And I'm just talking about Bella Vista. There's an absolute shit tonne of them going up. It's not going to improve the dismal road situation either that's for sure.
You got that right! I am so happy that I live on the other side of the canal.
Man, I want to go. It would take a serious lobbying effort to get my wife to agree though. She absolutely loves the beach, so it's not unthinkable. I'll have to start with a vacation down there - see if I can get her to fall in love with the place.
Yes, that is always the best option. This place is not for everyone but the beach areas are great.
Nice advice he gives. A lot of them sound like common sense but a lot of people don't think about them when buying a house and regret not doing simple research about things. Sounds like a good opportunity to buy property in a nice destination. :)
At least as the Real Estate Market is taking a downturn it will give you a cheaper better buying opportunities.
Good Luck Randy! :)
I didn't realize the market has been so hot there..Costa Rica I knew about. Thanks on the info @hilarski!
I agree. If it crashes like here in 2008 then you will have those once in a lifetime chances.
I think of moving to Panama when I accumulate good capital in cryptos.
It's interesting the economic freedom.
Good luck on your purchase. Can non-citizens own land down there? What are the property taxes like?
you only worked or had a good time too relaxing kind ;)