Looking at your renovation project in the beginning, this is sadly how many houses look like in Panama. I am living in Panama now for over 4 years. If it is in Panama City, the surrounding areas, Panama West - through the whole country. People run out of money or $ what expats do - just leave and let the property fall apart because they thought Panama would be paradise. Even development companies just run out of money. People must understand that the property market is not comparable with North American or Europe! You can still find advertising offering “NEW HOMES “ build in 2012!! They just look like your property in the beginning when you got it. I bought an affordable lot and build by myself. I live in the Coronado area. Boquete is far out of my league price wise! From properties to restaurants! All the best for your stay in Panama.
There are a good number of “ruins” here. We looked at a lot. This one had potential. It will be nice when it is done. This much fixing up isn’t for everyone though. We aren’t planning to charge $1M for this when it’s done either. I have seen some expensive properties too. We will look at comps before we price it.
@waywardstrays Good luck with your project. I hope you do understand that properties are for years on the market. No way to flipping houses here like in North America years ago.
