The Benefits of Living in a Condominium

Condominium living is an alternative way of life for people who want their own place. Condominium units are quite popular among small families and single professionals. These units present an unusual lifestyle for people. For one thing, it is less expensive than purchasing real estate and building a house from scratch. There are also some things that a normal house can’t offer like twenty four hour security, guarded parking, clubhouses, swimming pools and the like.

There are several types of condominiums out there. Each is different and satisfies different needs and wants. There are condominium townhouses and condominium apartments which have small differences aside from the ownership regulations and structure. There are also those called freehold townhouses which have slight variations from the others. Whichever type a condominium may be, do not forget that the common factor is that they are very different from a normal house, which most people may be used to.

There is a certain dual nature comes with owning a condominium unit. Although the owners have prime ownership of their personal units, the common areas are a shared responsibility. These common areas are the lobby, the stairwell, the elevators, the parking lot and the different amenities of the condominium complex. Of course, with shared responsibility come rules and regulations.

Living in panama condos may seem difficult to imagine if you’re not used to it but choosing to live in one does have its advantages.First, it’s generally cheaper than a house. There are also amenities that do not usually come with a house like a pool, hot tub, gym and the like. You also become part of a community in which you become an important part of in decision making.

Of course, there are restrictions to living in panama apartments and condos like pets and barbecues. There are also rules that have to be followed unlike in a normal house. In settings like these, neighbors are just a wall apart and their rights must be respected too.

Although not as traditional as normal houses, condominiums can also be called panama homes. You just have to get used to the living conditions and you wouldn’t even feel that restricted.

How Will The U.s. Housing Bubble Affect Panama Real Estate

The recent news that existing home sales in the United States had the biggest monthly slump in nearly two decades came as the murmur about the infamous housing bubble is reaching a crescendo. Fueled by predatory lending habits and Americas lack of monetary common sense, foreclosures are skyrocketing and home sales are stalling. The steep slump in housing over the past year has been a major factor slowing the overall economy. It has subtracted around 1 percentage point from growth since mid-2006. This may just be a blip on the map, but many industry experts are morose at the future prospects.

If United States real estate prices continue this downward trend, it is important to examine whether this will begin to deflate the Panamanian Real Estate market as well. When housing prices fall in the U.S., it becomes cheaper to buy in top retirement destinations like Florida and Arizona, the areas that Panama is currently in direct competition with. As those prices fall, as many are currently doing, it would be hard to imagine retirees finding overwhelming benefits of investing and moving to a third world country rampant with corruption, no provisions for disabled people, a major pollution problem, an impending traffic nightmare, almost no personal health or safety codes and all with foreign laws in a foreign language.

These factors combined with the amount of real estate and development that is currently going on in Panama could spell a major disaster. A new real estate agency is popping up almost weekly and the amount of listings are growing at an astonishing rate. One has to wonder if the supply of Panamanian real estate isnt outpacing the demand. Developers are pushing anything and everything they can, from one hundred story skyscraper condos to multi million dollar beach houses, and investors, not residents are buying them up. If the housing slump in the United States continues and real estate in The States begins to edge back towards realistic and affordable prices, it will be interesting to see the affect that it has on Panama and this golden egg we call the boom.