Since 2006 Panama has experienced non-stop real estate development in the form of condominium buildings, hotels, commercial space, resorts, shopping malls, and beachfront developments.
According to Panama’s Comptroller Office, government approved repairs additions, and building permits, was nearly US$293 million in the first two months of 2012. This was an increase of nearly 49% during the first two months of 2011.
There are over 200 buildings over 20 stories being constructed in Panama City in 2012. The capitol’s sky is surrounded by construction cranes.
A lot of foreigners from different parts of the world are coming to develop real estate in Panama. Whether these foreigners are constructing a building or hundreds of private homes, understanding Panama’s real estate development and environment protection process is critical for their success.