Several years ago, the real estate market in Panama was considered the second best in the world after Dubai, UAE – all thanks to the highest pace of construction mainly in the capital city and fastest rate of sales. Nowadays the market of Dubai crumbled, while sales in Panama city have certainly passed its better times. Today we see more than 200 biggest projects only in Panama City.
Most probably, investments in condos and apartments in Panama are already not the most profitable solution, however the chances to buy something really valuable and worthy still exist.
Our attention is drawing completely new line of metro that is currently being constructed in the capital. There is still over a year before its completion, but the number of good apartments and offers around each station is disappearing rapidly. However, there is still a great number of them. The truth is, the new metro line will cover all major districts of the city, thus there is nearly infinite number of variants.
The experience of other cities, which already possess their metro system evidently shows that the real estate located close to the stations tends to grow at higher price rates, than that within significant distance away from each station. The first line is projected to be 14 km long. Thus, there are a great number of apartments and houses located within 300-500 meters away from each station in every price segment.
Also we should consider the unfavorable traffic situation in Panama City. The government is behind in road construction, thus the necessity in metro will only increase in future and its closeness will be a high priority when choosing housing.
Similar trends can be seen in the cities and agglomeration around the world. Fairfax, Virginia (D.C. agglomeration) has greatly benefited since it obtained its metro line. The real estate located close to the silver line has increased in price faster than anywhere else.
Also, if we take a look at Craiglist, it can be noticed, that the housing located close to the subway stations is generally more expensive compared in the same segment. Availability of metro is a also included as a search option.
We are absolutely sure, that proper search could provide great results for finding appropriate investment. Choosing housing in proximity to the metro line will increase your chances investing successfully.
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