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Europe Picks Panama

Europeans with an eye towards the future are increasing their investment in the nation

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Europeans are primarily coming from Italy, Spain and Switzerland.

Sergio Pitamitz/Getty Images
Europeans are primarily coming from Italy, Spain and Switzerland.
Sergio Pitamitz/Getty Images

European buyers are increasingly competing with Latin Americans and North Americans for properties in Panama, says a new report. The study by Jeff Barton, managing director of Punta Pacifica Realty in Panama City, says that real estate agents are seeing a growing interest from Europeans, who have historically lagged behind other groups of foreigners in the Panamanian capital. Europeans are primarily coming from Italy, Spain and Switzerland. “Most of the European buyers are acquiring property in Panama City as an investment for the short term, with plans to use the apartment as a second home in the coming years,” writes Barton, adding that they look for luxury condos they can rent or resell easily, if their plans change in the future. Barton attributes the trend to word of mouth. “As more Europeans move to Panama, they are sending back positive reports about the business opportunity and the cost of living, attracting their family and friends,” he says. Other reasons cited by the broker are instability and rising prices in traditional European second home markets and a stable economy in Panama. Read the full report here. Follow Mansion Global on Facebook, Twitter and Instagram Write to us at info@mansionglobal.com