Panama City Property Shaken Not Stirred

As the so called set-jetting trend continues, we hear that that James Bond (aka 007) has checked into Panama City, Panama. The Bristol Hotel recently played host to a range of Bond cast members who were on location filming scenes for the up and coming James Bond movie, Quantum of Solace. The choice of location has again highlighted the beauty and the potential of property in Panama, a country which has been on the radar of many property investors for some time.

The capital city of Panama, Panama City has a beauty and heritage the envy of many countries around the world and a tourist industry which has blossomed over the last few years. Even though property prices in the city have been rising of late, there is still much more potential for investors looking overseas for their next project.

While average rental yields in Panama City itself are averaging around 7%, they are reaching as high as 11% in some areas with demand out stripping supply at the moment. When you consider that there are currently over 300 tower projects cleared and ready to start, it will come as no surprise to see that the impact upon property prices is spreading to the outskirt of the City.

Hotels, offices and tourist facilities are all being introduced to the City with the $400 million Trump Ocean Club International Hotel already under construction. Perfectly placed for trade links (the Panama canal), a growing tourism industry and property prices which are still well within the grasp of many, Panama and Panama City in particular is well positioned to benefit in the future.

While you will be hearing a lot more about Panama City over the coming months, the presence of James Bond in town is yet another indication that Panama property is more shaken than stirred!