80 percent occupancy is pretty generous, high rises behind the Panama Sheraton Grand were 90 percent unoccupied from my personal observations at night time for a whole week recently. Rents can't justify the prices in Panama, and you can get that 12 month lease for down to 2 months with 20 percent premium from what I understand. a...nd from dealing with realtors here it's no wonder most owners want to and need to negotiate directly.
Great video though. However, I will not live in Punta Pacifica, although, it is close to a lot of things, the traffic is HORRIBLE! I have friends who used to live there and sold their properties and moved to areas like San Francisco, which is a beautiful area with some traffic, but not near as bad as in Punta Pacifica. BTW, Alexander sounds French when he speaks in English. If would rather buy a foreclosure home in a nice area and invest $100K in renovations and have an amazing property there.
Excellent video, at 260,000- with hoa at 250 a month-and needs renovation- no one should ever buy this condo- if you can rent it for 1200 a month its a horrible investment-for that condo to be worth it as an investment- it would either have to rent it out at 2800 a month for a 10% return- but at 1200 a month plus the owner has to pay 250 hoa dues -you would have to buy this condo for about 85,000 ,with hoa of 250 than you could gross 10%==Rent in Panama only-Glad your showing ROI ,thats the only way to buy anything-in the States or Panama-because 90% of Panamans cant afford 260K
1st thing that needs to go are the tiles...disgusting! Lol Other than that I wouldn't pay more than USD 1.200k per net m2 in that place (before renovation)...
Do you think people from South America will also buy in Uruguay as a safe haven? Many wealthy South Americans have bought in Punta del Este in the past but it has gotten quite expensive (and the space is limited) so I wonder if they will start to buy more in Montevideo? Would also love to see a video on Uruguay in the future if that is in your travel plans!
Appreciate the informative video. No sugarcoating and just telling it like it is. I can't say I would like to move there though. Quite expensive relative to the region, too hot year round, and not a fan of the recent visa changes. From $5,000 to $200,000 to get PR :(
Amo mi pais pero PORFAVOR que venga alguien y meta mano en los que son los acabados miren esa cocina. Parece de pobre miren ese lobby parece q entraras a un asilo de ancianos los baños. No entiendo esos pisos como q no tienen gustos modenos o que?
Get in touch with Alexander: alexander@thewanderinginvestor.com
very good video, I wanted to have answers about this exact scenario and here it is, great job, thank you
80 percent occupancy is pretty generous, high rises behind the Panama Sheraton Grand were 90 percent unoccupied from my personal observations at night time for a whole week recently. Rents can't justify the prices in Panama, and you can get that 12 month lease for down to 2 months with 20 percent premium from what I understand.
a...nd from dealing with realtors here it's no wonder most owners want to and need to negotiate directly.
You could probably KNOCK another 40.000 off that price. I have noticed they always go high in Latin America.
I really love your videos. Your ability to hustle and actually do what an ordinary person is looking for is amazing. Keep it up.
This isn't that great a place to live. Alexander: I live next door...
Great video though. However, I will not live in Punta Pacifica, although, it is close to a lot of things, the traffic is HORRIBLE! I have friends who used to live there and sold their properties and moved to areas like San Francisco, which is a beautiful area with some traffic, but not near as bad as in Punta Pacifica. BTW, Alexander sounds French when he speaks in English. If would rather buy a foreclosure home in a nice area and invest $100K in renovations and have an amazing property there.
Thanks for another great video!
With petro in Colombia prices will go back on tracks
Thank you!
Excellent video, at 260,000- with hoa at 250 a month-and needs renovation- no one should ever buy this condo- if you can rent it for 1200 a month its a horrible investment-for that condo to be worth it as an investment- it would either have to rent it out at 2800 a month for a 10% return- but at 1200 a month plus the owner has to pay 250 hoa dues -you would have to buy this condo for about 85,000 ,with hoa of 250 than you could gross 10%==Rent in Panama only-Glad your showing ROI ,thats the only way to buy anything-in the States or Panama-because 90% of Panamans cant afford 260K
Has the prices come down? I think prices in casco viejo went up?
1st thing that needs to go are the tiles...disgusting! Lol
Other than that I wouldn't pay more than USD 1.200k per net m2 in that place (before renovation)...
Hi
Is it easier to buy in Panama or Dominican Republic as a Canadian ?
Both are easy. This article will be helpful: thewanderinginvestor.com/international-real-estate/panama-city-real-estate-market/
Do you think people from South America will also buy in Uruguay as a safe haven? Many wealthy South Americans have bought in Punta del Este in the past but it has gotten quite expensive (and the space is limited) so I wonder if they will start to buy more in Montevideo? Would also love to see a video on Uruguay in the future if that is in your travel plans!
Uruguay has been positioning itself this way with a little-known golden visa
I find the global perspective this channel gives very helpful & interesting. Thank you for sharing your research.💰
Appreciate the informative video. No sugarcoating and just telling it like it is. I can't say I would like to move there though. Quite expensive relative to the region, too hot year round, and not a fan of the recent visa changes. From $5,000 to $200,000 to get PR :(
$5,000 was too good :). I work with an agent in Paraguay who can set up cheap PR for « old Panama » prices.
Yes you are right JK , no sugarcoating and just telling the truth
Cangrejo its a good place ?
Yes. Walkable.
Amo mi pais pero PORFAVOR que venga alguien y meta mano en los que son los acabados miren esa cocina. Parece de pobre miren ese lobby parece q entraras a un asilo de ancianos los baños. No entiendo esos pisos como q no tienen gustos modenos o que?
I like the way you post videos: one day in Panama, then Kiev, than Bogota, then Panama again. Is it deliberate or its chronological?
It’s just a bit of a mess 🙈 This blog is a part time thing.
great content
Thank you interesting video
Property prices dropping? Wow. There's a change!
Yes. Catching the bottom will be hard. Money could suddenly start flooding into such safe haven real estate in spite of very low yields.
So, does the Panama government give the Landlords all of that lost rent? Are the laws more Tenant friendly or Landlord?
No. Landlords lose it all. Currently the laws are very pro tenant
Wow😍
🙌
With petro in Colombia prices will go back on tracks
Definitely a positive catalyst for Panama real estate 👍