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Condo. In modern property law, individual ownership of one dwelling unit within a multidwelling building. Unit owners have undivided ownership interest in the land and those portions of the building shared in common. This type of ownership has been present in Europe since the end of the Middle Ages; in the U.S. it dates to the latter half of the 19th century and has been popular in crowded urban areas. An alternative to the condominium is the cooperative, in which residents own a share of a corporation, with each share entitling the owner to reside in a particular unit in the building. |
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Panama Real Estate News
| Panama Real Estate Boom is REAL |
Panama is a healthy, growing economic phenomenon following a carefully orchestrated plan.
BY JON HANNA In a guest column in Latin Business Chronicle, September 26, Walter Molano claimed that “the real estate boom in Panama City may be a bubble”. He also argued that Panama’s infrastructure is inadequate to meet the newly built apartment boom in Panama City. “Although the newly built towers are beautiful, the roads are atrocious, the hospitals are inadequate, and the pollution is rampant.” I interviewed attorneys, real estate brokers, property developers, and even an economist. No one disagrees that Panama is booming. Major international companies, retiree’s world wide, Expats looking for second homes and investments are discovering the numerous advantages of Panama. Even the columnist agrees, “Panama is booming”. He also wrote, “The economy is growing more than 6 percent y/y, with the possibility of exceeding 7 percent this year.” |
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