China deal could be Panama real estate game changer
Panama’s recent decision to embrace a formal relationship with China will have far-ranging implications for the country’s economy, including the real estate market.
Five years ago, Chinese home buyers were almost non-existent in Panama City, but that has changed. In the first half of 2017, Chinese buyers accounted for about 20 percent of Punta Pacifica Realty’s sales in Panama City, compared to 5 percent in 2015.
Most of the sales were focused on high-end rental properties in towers along the waterfront in Punta Pacifica and Avenida Balboa, including the Trump Ocean Club and the modern Yoo Panama.
Source: NuWire Investors