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Oversupply Of New Construction In Panama Presents Opportunities | Add Comment

    • Panama Condo Market 5/7/2010
    The party is over for the Panama City Panama condo market. Developers and speculators have collectively and artificially run up the prices of condos in the city thanks much to the fact that there is no transparency or any type of organized system showing critical data such as the actual owner, past sales prices and now most importantly, existing inventory. While Venezuelans and Colombians purchasing condos of late,especially in the city, for Visa advantages have kept the market alive, the fact is that there is now too much inventory and not enough demand which will bring much needed price corrections to the downside. Not helping the artificial price run is the fact that many of those that purchased pre-construction are now walking away from their deposits and their units coming on line now as any profit they thought they may have made previously has evaporated. The smart money either rents and/or waits as the correction continues on the downside. www.panamacondomarket.com

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