The answer is most definitely yes! As buyers, investors and speculators began search for other markets to enter while leaving behind a disastrous state of affairs here in the US, new markets like Costa Rica and Panama became open to the feeding frenzy. Costa Rica has been a popular market for building and investment by US buyers and real estate companies for many years now but Panama is a bit new to the scene.
Once Trump entered the scene officially branding the area as a viable condo market all bets were off. During 2007 prices began to sky-rocket and new construction was everywhere. Panama condos have been on everyone’s mind over the past year. US and other foreign buyers and investors have been flooding the market. Sounds familiar right?
So to go back to my question above…yes, when the US enters a housing slump and possible recession, buyers, investors and speculators seek other opportunities outside the US…they want someplace else to “park” their money. Panama condos seem like a great place to me. On the other hand, what does it take for us to push another once healthy and exciting market into its own “bubble” situation?
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