“Current real estate price trends in Pedasi property is tripling every 12 months.”
Ignore the crazy grammar and focus on the crazy point:
Property prices are tripling every 12 months in Pedasi, Panama? So a $50,000 lot today will be worth $150,000 in a year…will be worth $450,000 in two years…will be worth $1.35 million in three years?
I’ve been in this business a long time, and I’m sure I’ve been guilty of hyperbole on occasion. But the claims I’ve been reading lately, to do with real estate values here in Panama, for example, and in Costa Rica, aren’t exaggerated. They’re silly.
I won’t tell you where I read the quote I offer above regarding values on the east coast of Panama’s Azuero Pensinsula. My objective here isn’t to point fingers. Rather, I’m simply stating the obvious.
You know, dear reader, as well as I that real estate prices in Pedasi are not tripling every 12 months. You know as well as I that a property appreciation projection of 1,000% (another reference I came across in my reading this morning) is…well…optimistic…
Global real estate, especially beachfront and productive, agricultural land, is the soundest investment you can make right now. I believe that sincerely. And, yes, it’s possible to see land values appreciate 1,000%…but this doesn’t happen often, and it doesn’t happen overnight.
Or in two or three years.
Please don’t forget yourself and imagine that buying a piece of coastal property is like buying a guaranteed-to-win lottery ticket.
Pedasi? It’s a beautiful spot on the Azuero Peninsula that is attracting a lot of attention right now. Values have risen dramatically in the past 18 to 24 months, by as much as, say, 100%.
A double every two to three years. That’s an aggressive, ambitious, risk-ridden goal when it comes to global real estate investing. Expecting more than that?
That’s where silly comes in.
Best place to look if you’re up for the 100%-appreciation-every-two-years level of speculating? I’d say that ship has sailed from the east coast of Panama’s Azuero Peninsula. Go west, dear reader. The western coast of this point of land out in the Pacific still qualifies as earliest-in. Take a look, for example, at Los Islotes, the best current beach buy in this country. (And, by way of full disclosure, the current project of my husband, Lief Simon, and his two partner-friends.)