Warning-real estate in Panama is not what it seems

@llona..........Im sorry to have to inform you but Xenophobia is very much alive and well here in Panama.......It is a small country, mostly inhabited by small minded people who are very much afraid of being overwhelmed by bigger nations around them....like Colombia or Venezuela for example........But that doesnt seem to stop the rich and privileged elitists here from selling out to the Chinese........There is a massive Chinese invasion here......and the way its going, they will end up running the economy.....They control most of the smaller businesses and a lot of the mid scale businesses alreayd.......I personally am checking out.....I dont like much the way they do things here, but having said that there are still certain advantages altho they are getting scarcer by the day..........The corruption is rampant......crime is out of control even tho there are police everywhere...........There is great insecurity everywhere in this strategic pretty little country right now.........I would recommend to keep searching.......Personally I prefer both Colombia and Ecuador even tho they too have their liabilities........

Hi dumluk,

Omw! Seems I've just going to exchange one problem country for another!

Hopefully the muders are less in Panama!

I just want to live, and let live...

Speaking of the homicide rate, do a search on latin american countries and you will see that Ecuador is roughly half that of Panama and Costa Rica.....Nicaragua was actually the lowest until this current crisis erupted like a ring of fire volcano........Colombia is getting better but still high, and depends greatly on where you live.........Chile is low and so is Uruguay in respect to homicides....But my Dutch friend who lived in Uruguay for a few years says that theft is rampant.......Even poor socialist Bolivia has way less violent crime than Panama.......

Hi all,

Have any of you had dealings with Mike Vuytowecz from Inside Panama Real Estate?

Hi there!

Oh my gosh, it's so amazing how people think of Mexico..  Where we are going I think there are more Canadians than Mexicans (which to be honest I don't like!).  We have NEVER felt unsafe in Mexico.  I went there alone to sign some of the papers for our condo as my husband was working...  I felt very safe.  Huatulco is very Mexican and unspoiled by fast food place, but has lots of restaurants etc.  We have travelled to most of Mexico and absolutely love the people.  Please don't discard it...  It is a beautiful Country with kind and warm people.

Just an update for those who are interested: first house Villas de Chica almost completed, next 8 being built this year. Campana Villas: first houses being built now. I am at the site at the moment so this is info is actual.

Good to hear your news Lauke.  We think about Henri often and hope that all his developments prove to be very successful.  What a great person he is.

We ended up purchasing a condo in Huatulco Mexico - due to the U.S. dollar being hard on us Canadians in Panama. It was far less costly to buy in Mexican Pesos.   

All the best for you.

Panama homicides last year were the lowest in a decade with 32 in 2018 down from 45 in 2017. There were 561 homicides in the city of Chicago in the USA alone for 2018.

You are right though, the Chinese have been moving in in a major way. They just signed some major agreements last year and are looking at using Panama as their gateway to getting a stranglehold in Central and South America. I remember just a few years back there was a couple thousand Chinese busted with fake permanent residency cards even complete with fake forged resolutions.

Mainland China is going to try to leverage hard the existing Chinese-Panamanian population. With many Panamanians having Chinese ancestry already it will be only a matter of time before Beijing backing puts them in power positions in government and commerce for special 'favors' to the motherland. However, one can hope it doesn't work out this way but I have seen it play out time and time again in a variety of countries.

From an expat point of view, China's interest in developing trade is a very good move, it very likely meaning there will be a wealth of new opportunities for new expats in the country.
It isn't like they're invading the place and starting wars, it's just good old fashioned capitalism.

Products of China are copy cat. And from poor to average quality.
Chinas leaders are still communists, check how their companies
threat their employees and how the private does too. The chinese
rush into latin america is backed by raising labour cost in main-
land China. The same rush is to observe into African nations.

With the exception that the most of their african employees run
away quickly when they see how the Chinese treat them. Mandatory
early gymnastics. 1 day off In the year. Military drill, etc. Local
contractors have first to sign a contract that China itself is a
"democracy" (laugh) and not a communistic construction. pffff
In Africa 4-5 hours labour a day is common and not as 11+
as in China! And protest against poor working conditions are not
permitted as in China.
In China you go for that to prison. Africans are poor but not morons.

If the Chinese do not learn to adapt their behaviour to run a business
on local conditions, they will also fall on their face.
This is why the most western european companies left China - and
the chinese one-price-one-product strategy killed many local businesses
in Europe.
The Chinese act in the behavior of old school communists. They are sneaky.
But just as economically interested as the others raiders before.
Only with the difference that they throw some pennies first to their
feets. The red dragon shows its true face. Imperialism has always failed.

property prices  in panama are in the free fall since quite some time
any bank will confirm this

and if you believe what the USSA government says good luck they are nothing but liars and idiots

In 2018 Republic of Panama had 414 homicides, with 4 million population in the country. Seems the same rate so far this year.

In 2018 city of Chicago had 530 homicides, with a population of 2.7 million.

Chicago seems much more violent though I'm comparing a city to a country.

Many other crimes like theft and assault are not even reported in Panama as people know that the police are awful at following up and the judiciary is awful.

Big_Kahoona wrote:

and if you believe what the USSA government says good luck they are nothing but liars and idiots

I agree. Often thinking as ussa citizen does not work outside their country.
Minds are different. Thinkings are different. Education is different. And often
better. Mental states are different.
Good bye ussa

I’m not sinking money into anything that isn’t already built, and that l can have inspected and make sure all the documents are correct. I wouldn’t even buy a property here in the USA based on an artist’s rendering. During the housing crisis, lots of people got screwed when contractors  went bankrupt before completing developments.

I would suggest that maybe you should take your ball & go back to Africa or Asia then.

Hi Brummy
Witch lot did you buy. I bought lot 29, Been living in my Villa for 16 months, There is only one other person living here, they moved in 4 months after me.

Hi GinnyP
Worst investment I ever did, bought my lot at the end of 2016, took over 3 years to build my Villa, Only one other Villa is built. There still not done with mine, so many problems. They never finished the infrastructure., half the lots don't have electric pulled to them, very very low water pressure. They haven't made one improvement on the site in 4 years. They did put in a gourd house and half of a club house. They have started 2 more Villas now why I don't know. Coco Beach doesn't look anything like what they advertise now. Any body what's pictures just ask.

Hi Pills
I can answer that, Panama Portfolio  has had this project for 8 years, 81 lots in phase 1, I was the first person to move here in Coco Beach 16 months ago one more family has moved in 4 months later. No other villas had started after they started mine, They started mine over 3 years ago so nothing new for over 3 years. They just started 2 more villas. So you can say in 8 years they build 2 and now started 2 more, looks like the time line to complete won't be in my life time.

Hi Maxmike.  We ended up not buying the lot and bought a property in Huatulco, Mexico 2 years ago.  There doesn't seem to be much happening there and we still like to occasionally look to see what is going on there.  I do hope it works out for the company who were promoting it (Panama Portfolio) as they were amazing folks to deal with..All the best to you.

Brummy, Thank you for the reply.  It's a good thing you went to Mexico, If I can ever sell this place I'll be going to Mexico as well. I should have done that. I'm from Sn Diego area and spent half my time in Baja. Looking into San Felipe or Rosarito Beach. Have a good life in Mexico.

I hope it works out for you MaxMike.  You may want to check out Huatulco... it's gorgeous there

Hi Brummy,
I looked on line and yes I agree looks like a great place to live. I watched a few videos and it was a larger town then I expected. It's now on my list. Will see what happens after my lawsuit here.