Panama property prices rising

Panama property prices are rising, according to one estate agency.

Values of real estate in Panama have risen by up to 10 per cent in some areas, says Panama Equity. The agent attributes the increase to growing demand from the US, Canada, Venezuela and Colombia and a falling supply of apartments for sale.

Waterfront districts such as Balboa Avenue, Punta Pacifica and Costa del Este are the most popular areas among buyers and have enjoyed the strongest property price increases. The climb in values marks a significant step forward for the market, which has been flat for several years.

"Prices in Panama have historically followed similar markets like Miami, and are usually on an 18 month lag," Panama Equity writes on Nuwire Investor. "Considering what happened in Miami just over two years ago, it’s no surprise that Panama real estate prices are on the way up."