Though Panama’s real estate prices still have a ways to go (down!) in order to be at all competitive within the global market, we here at Finca Buena Vida are proud to say our prices haven’t changed in years.
Why? Not greed. Nor delusion. Just good pricing.
We started this project five years ago with reasonable prices and have kept them reasonable - all through the heady days of greed and delusion we held steady and people came. And people bought. Now we are over 80% sold and folks are still coming.
Condo towers along Panama City’s skyline that sprouted like mushrooms and beach communities sprawling along the Pacific coast are nearly empty; pre-sale buyers are walking away, deal hunters are waiting it out and retirees who previously overwhelmed Panama City’s real estate offices, hunting for a new home, no longer have the financing to buy outrageously over-priced homes.
The primary reason real estate began to boom in Panama in the late 90’s was price - land was cheap! Then greed came to town and the party got started in earnest. Land that was cents/metre in 2004 almost overnight became double digits/metre and in some cases triple digits/metre. Everyone came to Panama to get rich on real estate.
Here on Dolphin Bay our prices remained affordable and our project is one of the few in Bocas del Toro that has been fully completed and also nearly sold out. I have watched many websites and brochures promoting the latest mega-project to grace Panama’s shores come and go - “the lifestyle you deserve”; “made for an exclusive few”… plenty of hype but precious little reality and only a grudging price reduction.
Well, reality has finally (almost) caught up with us here on Dolphin Bay. Our prices are the same - affordable - and we are still quite competitive.
Welcome Home!!
Judge for yourself - check our prices here.
Posted on Friday, January 22nd, 2010 at 10:18 pm
Filed under Uncategorized, Swanny's Blog, real estate project news .
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