Report: Buyers now opting for “more progressive” Panama
Being so close to the Costa Rica border, Casa Solution receives many real estate buyers who either have considered Costa Rica as an alternative or are relocating from Costa Rica. What we hear consistently from them is that Costa Rica is a beautiful place but a difficult place to live and invest as a foreigner. In comparison to Panama, they cite the higher property prices, less advanced infrastructure, higher crime, bad roads, legal issues and cultural challenges.
We note that much of this information comes from those who are disenchanted by experiences in Costa Rica. However, the feedback has been too consistent to ignore. And here we have a report from a top Costa Rica real estate company indicating that Panama is “more progressive” and successfully drawing clients away from Costa Rica. Expect this “emerging” trend to accelerate as knowledge of Panama’s rapid development, mostly pro-US/Canada/Europe culture, and business-friendly policies becomes more common.
Here’s an excerpt:
Costa Rica Real Estate Report Reveals Some Surprises, June 10, 2014
“According to a recent study by San Jose-based CRREC…
Costa Rica Real Estate’s study contains information pertaining to market size (both volume and value), leading players, key financial metrics and an in-depth analysis in to the competitive pressures Panama holds in the road ahead. …
Only a few weeks back, Costa Rica inducted a new president and while many believe the change in power will bring economic stimulus, others remain skeptical with recent announcements from Intel and HP that they will be closing operations in the country (of Costa Rica).
A surprising statistic unveiled within the report details an emerging trend of expatriates opting for the more progressive neighboring country of Panama. For decades, Panama and Costa Rica have fought toe to toe over tourism and the economic boost of attracting foreign investors.”
Article in World Property Channel, June 10, 2014