Just in case there was an oversight in your real estate investing plans in 2008; be sure to look toward Panama to buy land and build on it. The widening of the Panama Canal has been underway for over 6 months now and the real estate market is hotter than ever. With an estimated cost of $5 Billion and a delivery date 8 years from now; the opportunities are endless.
Dan Schlossberg of Consumer Affairs mentioned that “After consuming 10 years and 25,000 lives, the Panama Canal opened on Aug. 15, 1914.” I shouldn’t be the only investor that gets excited about those numbers. We figure with today’s equipment and construction technology; the number of employees being used falls shy of 25,000 but is still overpopulating the surrounding areas of the project. A shortage of rental housing in these areas can be addressed with the purchasing of land and the building of mid-size multi-family homes and/or apartment buildings. It is a dream come true even for a newbee investor. For 8 years there is a group of people who need somewhere to live close to this project. Most of these persons do not desire to own but are better suited as renters within the term of the delivery of the expanded Panama Canal.
It is still early and hopefully they will not launch a dual-citizenship drive similar to what Dubai is doing. I have investor clients and colleagues that purchased in Dubai 2 to 3 years ago with expenditures of less than $20,000. Dubai’s dual-citizenship marketing created a huge buzz among non-residents and before you knew it, several people were holding and/or flipping with GUARANTEED RETURN!!!! If you know what is good for your future money (the most important money), then you will certainly consider Panama as your next place for off shore real estate holdings.
Blessings to your Real Estate Investing Success,
Milton B. Yates