The papers have been reporting an increase in the crime rate in Panama, which is something that many potential buyers of real estate in Panama become aware of. However, something else to keep in mind is that only Costa Rica has a lower homicide rate that Panama in Central America. So I’m sure questions are coming up, and the main thing you want to know is if Panama is in fact a dangerous place to invest in property.
The recent crimes against Panama residents and citizens have increased slightly according to La Prensa, in the first five months of 2008 there were 200 murders, but in the next two months there were only 20 murders. So sometimes depending on what might be going on, the numbers can be a little skewed. Still, public opinion polls are showing that the average resident or citizen of Panama feels less safe than before. Again, real estate in Panama is growing, and the country is growing. Some of these numbers are reflecting growth in population and urban areas rather than reflecting an inability to control crime. Buying real estate in Panama is still a safe venture.
The Panama crime rate against visitors has also been reported to be on the rise. However, the Panamanian Tourism Institute reported that out of every 10,000 visitors, there are only three cases of crimes against them. Also, almost every crime towards a visitor of Panama is related to theft and robbery, a few are related to fraud or other financial crimes, and a very small amount, if any at all is violent crimes like assault or murder. Like any country, theft is something that visitors have to deal with when coming to visit.
Despite the public’s perception of crime in Panama, businesses are still doing well throughout the country. Real estate in Panama is holding steady, and construction is still taking place all over the country. Panama City is still building more high rises and there are many more on the drawing boards.
Also continuing is the constant flood of tourists and immigrants who come to Panama seeking residency. Reports of increased crime certainly have not deterred tourists or people seeking to buy real estate in Panama.
The Panama Canal Expansion still remains one of the biggest stories involving Panama, along with the Cinta Costera project along Avenida Balboa. The projects have provided many jobs and will continue to enhance real estate in Panama. With commercial real estate in Panama, values are expected to steadily increase over the years and are considered a great long term investment.
If you would like to learn more about real estate in Panama, and how the country’s characteristics are affecting the values, you’ll find many more articles on real estate in Panama on this site.