Thread: El Cangrejo real estate is hot !!

According to Mordekha:

"1. El Cangrejo is hot. The 2 best buildings are Medtierrano loft, and Luxor.
2. Its tough to find small apts. The city has lots of big units, and owners are selling them cheap. Med loft 75 meter units can sell at high as $1900 a meter. I suspect that Luxor 84 meter apts will fly. 3 months ago, these units were selling at $1600 a meter, now they are up."

Anyone have any examples that support Mordekha's theory, facts or statistics as opposed to 'I was talking to this guy in Elite who owned four rental units'?

Originally Posted by EdBowers

According to Mordekha:

"1. El Cangrejo is hot. The 2 best buildings are Medtierrano loft, and Luxor.
2. Its tough to find small apts. The city has lots of big units, and owners are selling them cheap. Med loft 75 meter units can sell at high as $1900 a meter. I suspect that Luxor 84 meter apts will fly. 3 months ago, these units were selling at $1600 a meter, now they are up."

Anyone have any examples that support Mordekha's theory, facts or statistics as opposed to 'I was talking to this guy in Elite who owned four rental units'?

There is some truth that price point beats value in a bad market. But to characterize a bad market as hot is quite misleading.

I am also bewildered as to why anyone would pay the kind of prices to buy or rent in Panama City. I just don't see the value. What is the appeal to live there?

Originally Posted by EdBowers

According to Mordekha:

"1. El Cangrejo is hot. The 2 best buildings are Medtierrano loft, and Luxor.
2. Its tough to find small apts. The city has lots of big units, and owners are selling them cheap. Med loft 75 meter units can sell at high as $1900 a meter. I suspect that Luxor 84 meter apts will fly. 3 months ago, these units were selling at $1600 a meter, now they are up."

Anyone have any examples that support Mordekha's theory, facts or statistics as opposed to 'I was talking to this guy in Elite who owned four rental units'?

I think hot in this city means its not really going down too much. El Cangrejo is quite popular and seems to be more stable but even there they have gone down in the past year. For now, cause when the whole city collapses, which obviously will happen, im sure the prices even there will go down significantly. To say they are going up is downright lying.

I dont have any examples but i have been looking at the real estate prices for a full year now and the trend is obvious. Its going DOWN!

Anyone buying ANY real estate for at least one more year is not thinking right. Prices will fall a lot more in the next year all over the place. If not in dollars then in real terms priced in gold that is. So if you wanna buy a property, buy gold and silver now, sell in a year and buy that property then.

Originally Posted by janl

I think hot in this city means its not really going down too much. El Cangrejo is quite popular and seems to be more stable but even there they have gone down in the past year. !

What's interesting is, very few Panamanian (the ones with money) want to live in El Cangrejo. Only foreigners like that area. It's the MAIN REASON why it's cheaper than other spots and will probably never become ultra-hot. The other reason is it's not on the water.