Real Estate Boom in Panama

Now it can be told, Panama City is more than just its famous canal.  With the recent launching of Los Faros de Panama (The Lighthouses of Panama), the world’s tallest residential building project, local and foreign investors readily foresee a strong international market and an outstanding investment opportunity soon to rise up in the most suitable location of Panama City

Los Faros de Panama Overview

Los Faros de Panama is situated in Punta Pacifica and overlooking the Panama Canal.  Once completed, the complex is bound to dramatically alter Panama City’s skyline. At 84 storeys high, the project will be consist of three towers with the central tower measuring at 324 metres in height, exceeding Q1 Tower in Queensland, Australia, the current tallest residential building in the world, by 21 metres.

Los Faros de Panama features and Amenities:

2,000 Luxurious Homes

• A 300-Room Hotel

A 5-star hotel on floors 7 through to 13

Shopping Centre

Casino

• Pool
• Gym/Spa
• Balcony
• Ocean Waterfront
• 7,000 Parking Spaces
• Health Care Centre

Tentative prices have been disclosed to the public and a total of 112 units were reportedly sold in Panama on the day of its launching.  Detailed map, location and description of Los Faros de Panama can be found here.

Real Estate Boom in Panama

Panama is not the only country in Central America that is drawing the attention of foreign real estate investors; but what’s being developed there are considered overrated in terms of quantity and physical sizes compared to that of their neighboring countries.  Additionally, real estate boom in Panama seem nowhere near the ending as more building projects are still in progress including the following:

• Building of Palacio de a Bahia (Palace of the Bay) on the Bay of Panama with a construction budget said to be around US$220m.  Its developer, Grupo Olloqui aims to build the project as the tallest skyscraper in Latin America, defeating the current one in Mexico City build by a Canadian group, the Torre Mayor.
• Construction of Ice Tower, a planned 104-storey high rise residential and hotel building situated in Costa del Este area of Panama City.  Upon completion, the complex will be the tallest in Panama City and Latin America. 

The planned Trump Ocean Club International Hotel and Tower, spearheaded by Donald Trump, will have 62 floors containing 350 condo hotel suites, 800 luxury apartments as well as casino, yacht club and private beach.

More upcoming building projects and properties for sale in Panama are listed here.

Factors Encouraging investors to buy properties in Panama

Panama government continues to encourage both local and foreign investors by providing them with more pros and zero cons in buying properties in Panama.  Some of which are as follows:

Full title of property for all nationals and foreign nationalities

Mortgage funding

Full democratic rights

World class infrastructure and modern facilities guarantee the best quality of living.

Contact us today so we can discuss how we can help you invest your money wisely.