Condo Prices on the Way Down

Panama Headline News

Condo Prices on the Way Down

Good news for Panama City, the Republic of Panama

Story by Panama Jack

Republicofpanama.net

Well it is about time that things got straightened out here in Panama City, Panama. Everyone was waiting for the current price of condo’s to start dropping, and it is here. With over 120 condo projects under construction and an estimated 8,000 to be put on the market for sale this year alone, the owners of these condos are finally getting the message. They are all not worth $450,0000.00 to $500,000.00. Something that they have been fooling themselves about for the last 6 months. Now with so many units coming on the market the price is dropping fast, a little reality is in the air, they are not going to make those big profits that they have been dreaming about spending. In fact many are going to lose their capital investment of 30% they put down on the pre-sale condos they purchased. This means there will be at least a 30% drop immediately with more soon to come. The people who bought low-end condo units that the $120,000.00 to $250,000.00 are having no problem selling their units for just a little over what they paid for in the pre-sale contract. They made out good. They will get their money back and enough to cover all the trips they made to Panama.Fact is the people who have to sell now are on the short end of the sick. The one who can afford to close and hang on to their condos are the winners.
Reasons.
1. Inflation is about to kit hard and the dollar is going to drop in value making a $120,000.00 worth in 6 years $350,000.00 and with currant high rental market they can went it out for the same as their mortgage payment and take profits at that time.
2. Panama is the capital of Central and South America, Just ask Simon Bolivar. The people of those country’s go shopping in Panama. When they want to go to the big city its Panama City. They have no problem spending their money, Panama welcomes them to shop, unlike the United States that will not allow some young Latin children even go and see Mickey and Donald and Goofy , how rude that children can see them on TV, but never in their live get to go to Tomorrow Land, or Frontier Land or any other fucking land, Like I did as a child. Unless you come from a certain class people, their children have no Problem. ($$$$) Get the picture.
3. The Republic of Panama has the second largest free trade zone in the world, next to Hong Kong. Also do not forget the Panama Canal one of the great wonders of the world. ( How do they do that )>