“We saw an incredible boom in the sale of homes since 2020. We never imagined that this comeback (after the pandemic hit) would be so quick and strong”, expressed Lynd Hernandez, Communications Director for the Miami Association of Realtors, to EFE Agency.
“We have seen an incredible boom in the sale of homes in 2020 and what has gone by of the year. We never imagined that this comeback (after the pandemic hit) would be so quick and strong”, expressed Lynd Hernandez, Communications Director for the Miami Association of Realtors, to EFE Agency.
Without a doubt, Covid-19 has changed the perspective of millions of people that have begun to appreciate the value of open spaces and outdoors to avoid large gatherings because the truth is, who can confirm that we will not be free of future lockdowns? The answer is nobody. For this reason, it is important to be prepared.
What has led to Southern Florida becoming so attractive?
For real estate specialists, it is a state where opening a business is easy since they do not have a state tax and it also has proper hospitality infrastructure. Furthermore, cities such as Miami are working hard to position themselves as a destination with important cultural diversity and an invitation to become a technological space in the near future.
As expressed by Jeniffer Wollman, a real estate agent in Florida, to EFE Agency: “The buyer with high acquisition power comes to the south of Florida not only due to possible savings but also to acquire a bigger and better space for less money than in New York or Los Angeles”. They also “mainly look for areas, both in and outside of the home; gymnasiums, gourmet restaurants, and green spaces ‘.
And as the working habits are changing, where remote work has been implemented in multiple sectors of the economy, this could be a determining factor when choosing. At least for right now.
Why can Panama be a better option?
With a highly developed and valued real estate market, Panama City has one of the best connectivity rates in Latin America. With over 80 daily flights to destinations worldwide and flights to the main cities in the United States, nothing is far away from the country.
Additionally, government authorities are developing incentives to attract foreign investors such as the program for Permanent Residence due to Economic Reasons for Qualified Investors or the SEM Law that generates significant benefits for investors that wish to come to the country. These incentives allow Panama to become an emerging Hub for the sectors of technology, investment and construction, restaurants, commerce, and business.
This leads to competitive advantages that complement other benefits well and allow it to compete with Florida.
- Exceptional weather. With two main seasons, the country is far from the so-called “Hurricane Path”, therefore strong rains leading to possible weather catastrophes are low.
- A cosmopolitan lifestyle. Being highly influenced by American life and the combination with other nationalities that have arrived in the country in the last fifty years.
- One of the best benefits programs for retirees.
- One of the greatest biodiversities in the world including access to two oceans, thousands of islands, jungles, coral reefs, and of course, the world’s best coffee.
- Political stability. Amongst the ups and downs of the region, Panama is an oasis of tranquility.
This could be the perfect time to decide. The property prices in Panama have been stable and multiple options exist both at the beach or in the city for you to start your life here.
