Bulgarian join race for real estate in Panama and Costa Rica

Erna, a Bulgarian real-estate agency, is now offering properties in Costa Rica and Panama to potential Bulgarian buyers. Erna says interest is growing because the weakness of the US dollar is pushing down prices for Europeans.

Friday, May 9, 2008

In an interview with Efe news agency, Erna's director, Petronia Staykova, said the company had already received 10 requests for properties in Central America and the Caribbean and was lining up more clients.
Staykova added that some Bulgarian investors have shown interest in Donald Trump's plans to build a tower in Panama. They were attracted, she said, by Panama's stability and the project to expand the canal.

More on this topic

Panama: Real Estate Investment and Reverted Areas

November 2011

Only 3% of the real estate assets called "reverted areas", that have been a major factor in development over recent years, still need to be awarded.

Of the 137 000 hectares of property along the route of the Canal that was returned to the Panamanian State, only about 4,600 still need to be sold or let, according to the Reverted Property Management Partnership’s (UABR in Spanish) inventory taken in October 2011.

Costa Rica: Trusts to Manage Properties

September 2011

Greater knowledge of these financial tools is driving their use in the country.

Equity and Guarantee Trust funds are the most popular of these types of instruments in Costa Rica, where more and more companies and individuals are choosing to manage their properties using this alternative.

Increased Demand for Repossessed Properties in Panama

July 2011

Revenues of $115 million has been collected from the auction of 200 properties, between 2004 and 2011.

In the first six months of this year alone, 22 properties were auctioned for a total of $8.5 million, $3.2 million higher than the estimated value (which was $5.4 million).

Looking for Legislative Seat in Costa Rica

February 2011

Banco de Costa Rica analyzes possible options for moving the seat of the Legislative National Assembly.

Originally the institution would be placed in a building located in the Zapote area, near the presidential home, but the operation was unsuccessful.

Legislative representatives said they considered a 23.5 million property, also near the presidential home, but the owner desisted in selling the property and the Bank is evaluating 8 other options.

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