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From PANAMA...ENJOY THE GOOD NEWS AND EXCITING EVENTS AND PROGRESS...PARADISE?

February 22, 2011

"Secrets to living in El Cangrejo isn't the only thing we cover in this month's Panama Equity Newsletter. Read about our company growth (January was our best month ever!), Panama's continued construction updates, and the nation's GDP -- still making headlines!

Thanks for your business! Dont forget that everything we do is based on referrals, so if you enjoy reading our monthly newsletter, please forward it on to someone who may have not discovered Panama yet.

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Real Estate Update
January and new sales records at Panama Equity

January marked one of the best months we’ve had here at Panama Equity, and this in spite of a city-wide water shortage and epic snowstorms in North America. Rental activity in the city has been extremely high, fueled by a new wave of over 500 Canal workers as well as the continued arrival of Snowbirds from up north and business execs in Panama on 12-36 month contracts.

Prices have remained flat in the first quarter of this year, and I don’t expect any upward price trending until closer to the end of the year.

This will be a very interesting year for real estate in Panama, especially considering the fact that several high profile construction projects will be delivered including the Trump Ocean Club, Megapolis Tower, as well as a number of medium sized hotels from operators like the Hilton and Starwood groups.

Construction Update for the Isthmus
Panama as Latin America's Logistics Hub

Work began this month on the much touted Panamanian Metro system, due for completion in 2013. As our readers already know, this will be a 14KM underground and aboveground commuter railway traversing the city.

This second week of February also saw a spate of major construction announcements, including a proposed fourth bridge crossing the canal as well as several high profile in-town road projects totaling over $120MM. No doubt, Panama will be a true “work in progress” for the next few years, but it’s fantastic to imagine what this country is going to be like once the construction is completed! It will certainly be a welcome relief to the traffic we’ve all had to deal with at one point or another.

One thing that I’ve noticed in my four years out here is that

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El Cangrejo Neighborhood Spotlight
A bio of Panama's best walking neighborhood

Yes, maybe I’m biased because El Cangrejo is the neighborhood that I call “home”, however I can name very few other neighborhoods in Panama that have the fantastic variety of restaurants that we enjoy literally just around the corner. We have at our doorstep a new French restaurant, 1000 feet from there a Spanish restaurant, and continuing along the same (quiet) street, we’ve got a Mexican, Peruvian, and Panamanian seafood restaurant.

For those locals in our readership, I’m referring to the new La Raffine, Abacanto, Le Mar, El Patio Mexicano, and Siete Mares. And that is just on MY street!
Head down to Via Argentina and any night of the week you can enjoy a Cuban, Colombian, Venezuelan, Italian, or Chinese dinner. Like bagels? Check out the spot that introduced Panama to the coffee house concept: New York Bagel Café. Just next door is a new Colombian-owned pub (arguably the hottest pub in Panama City) and across from them,
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GDP Outpacing Manufacturing Growth
Opportunities abound for cottage industry in Panama


In the past five years, industry in Panama has had virtually no impact on gross domestic product (GDP). Figures from the Comptroller General of the Republic (CGR) reveal that the percentage change in manufacturing was much lower than the GDP but this trend seems to be improving and may be bolstered by the ratification of the Panama/USA free trade agreement. An interesting statistic: from 2005-2010, GDP growth in Panama has been on average of 8%, but industrial manufacturing growth has been less than 3% during the same time period.

Now more than ever the country’s geographical position and it’s recognition as an international logistics center opens new opportunities for industries, both domestic and international. Panama no doubt has great potential for industry using plant material, fruits, fishery products, agro-industry prducts and minerals, segments a few years ago were not taken into account by most manufacturers.

Companies like Sony, Panasonic, L'Oreal, Hitachi, Daewoo, Mitsubishi, Unilever and Bosch all have a small manufacturing presence in Panama, and the Panamanian government continues to court additional multinational companies. From the allure of Ciudad de Saber (home to a number of multi-national corporations) to the new and impressive Panama Pacifico, foreign businesses continue to reiterate the draw we’ve known now for several years: that Panama’s strategic location and improving infrastructure will have a central role in the evolution of Central America for many decades to come.
That's All Folks! Remember, we're still the hardest working real estate agency in Panama. If you like what you see, forward this email to a friend using the buttons on the bottom.

Thanks for your business! We believe that real estate is 24/7 and if you have a question, you know how to find us!
All the Best,
Kent Davis
www.panamaequity.com
Panama Direct: ( 011 ) 507 6030-6782
USA Phone: (404) 865-1629
Skype: kentpd22


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