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Panama City’s Real Estate Market On A Predicted Rise

Kathleen Peddicord by Kathleen Peddicord
Mar 17, 2016
in Panama, Real Estate
0
Real Estate Market In Panama is on the rise.
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A Bold Prediction About This High-Profile Property Market

Why would you want to buy a piece of real estate overseas?

That was the starting point for the discussions that have taken place throughout this week’s Global Property Summit down here in sunny Panama.

The big advantage of real estate anywhere is that it’s a hard asset, a real and long-term store of wealth. But why real estate overseas?

Bottom line, the point is diversification. When you purchase a piece of property in another country, you’re achieving diversification of market, of economy, of political regime, and of currency. Everything everywhere is cycling all the time, but the cycles are all different. Some markets are booming while others are in crisis. Currencies are alwaysup or down one to the other, but the ups and downs are ever-moving targets. By spreading your property portfolio around, you can be insulated against the downs.

In addition, real estate overseas can:

  • Provide income and cash flow in another currency…
  • Make it possible for you to establish easy residency in the country where you’re invested…
  • Allow you to keep your assets private and protected (against litigation, an ex-spouse, or an unhappy business partner, for example)…

We conceived the program for this week’s Global Property Summit around a series of five panel discussions. There’s no right way and no one way to buy real estate in another country or to build a diversified global property portfolio. The options are many, and so are the variables. That’s why, for this week’s meetings, we’ve showcased different perspectives.

On stage with me to lead these discussions have been Lief Simon and Lee Harrison, two guys with, among them, many decades of experience buying, selling, and profiting from real estate around the world. These are two savvy and successful investors, but each takes a different approach, according to his investment objectives, existing portfolio, and tolerance for risk.

“In my case,” Lee told the group, “buying real estate overseas has allowed me and my wife to realize a dream retirement lifestyle. For us, the investment aspect is important, but at least as important is the personal side of any purchase. We buy in places we like and where we want to spend time. That’s the driving factor behind every investment we make.”

“I’ve bought real estate of all kinds in 23 countries,” Lief explained, “and right now, I hold property in 14 countries.”

One of Lief’s markets of focus—for the past 15 years and still today—is Panama City.

This morning, Lief led a group of 18 conference VIP attendees on a private Panama City property tour. I tagged along. First stop was an apartment on Avenida Balboa with an expansive ocean view. This is one of the best addresses in the city.

Lief toured apartments in the same building two years ago. Prices today, he noted, are up at least 20% in the interim. Rents are up, too, but not at the same rate. Walking the group through the numbers, Lief figured this rental unit would return a net annual yield of about 5.5%.

“That yield is at the low end of the 5% to 8% net I look for from a rental property,” Lief explained. “However, the capital appreciation in this part of the city should continue to be above average, as well, for the indefinite future, and, for me, that more than offsets the lowish annual rental return.

“An investment in property along Avenida Balboa is as solid a long-term bet as you can make right now,” Lief continued. “This front-line to the water district will hold its value while always attracting renters.

“The cost to own along Avenida Balboa today is as high as US$2,600 per square meter,” Lief said. “I predict that, in the next five to eight years, that cost will push close to US$5,000 per square meter.”

You read it here first.

Kathleen Peddicord

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Tags: avenida balboa apartmentsGlobal Property Summitinvest panamaLief Simonproperty panamareal estate panama
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Kathleen Peddicord

Kathleen Peddicord

Kathleen Peddicord has covered the live, retire, and do business overseas beat for more than 30 years and is considered the world's foremost authority on these subjects. She has traveled to more than 75 countries, invested in real estate in 21, established businesses in 7, renovated historic properties in 6, and educated her children in 4.

Kathleen has moved children, staff, enterprises, household goods, and pets across three continents, from the East Coast of the United States to Waterford, Ireland... then to Paris, France... next to Panama City, where she has based her Live and Invest Overseas business. Most recently, Kathleen and her husband Lief Simon are dividing their time between Panama and Paris.

Kathleen was a partner with Agora Publishing’s International Living group for 23 years. In that capacity, she opened her first office overseas, in Waterford, Ireland, where she managed a staff of up to 30 employees for more than 10 years. Kathleen also opened, staffed, and operated International Living publishing and real estate marketing offices in Panama City, Panama; Granada, Nicaragua; Roatan, Honduras; San Miguel de Allende, Mexico; Quito, Ecuador; and Paris, France.

Kathleen moved on from her role with Agora in 2007 and launched her Live and Invest Overseas group in 2008. In the years since, she has built Live and Invest Overseas into a successful, recognized, and respected multi-million-dollar business that employs a staff of 35 in Panama City and dozens of writers and other resources around the world.

Kathleen has been quoted by The New York Times, Money magazine, MSNBC, Yahoo Finance, the AARP, and beyond. She has appeared often on radio and television (including Bloomberg and CNBC) and speaks regularly on topics to do with living, retiring, investing, and doing business around the world.

In addition to her own daily e-letter, the Overseas Opportunity Letter, with a circulation of more than 300,000 readers, Kathleen writes regularly for U.S. News & World Report and Forbes.

Her newest book, "How to Retire Overseas: Everything You Need to Know to Live Well (for Less) Abroad," published by Penguin Random House, is the culmination of decades of personal experience living and investing around the world.

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