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Location, location, location. That’s the name of the game when it comes to investing in real estate, and even more so when investing in properties internationally. International real estate is a profitable long-term venture that can easily generate passive income when done right.
Whether the investment is set to be the first overseas, or an expansion of current foreign property holdings, research is key. Some of the standout countries that come to mind for most when it comes to foreign investments include Mexico, Portugal, and France. Sometimes it’s because of the popularity of the areas in terms of tourism, or the expansion of the respective country’s middle class, or simply because of the affordability of the properties themselves relative to nearby attractions. Then there are places such as Panama, which is quickly becoming one of the more favored places for foreign buyers to invest in real estate.
Panama has increasingly becoming the sweetheart for foreign investment due to its rising real estate market, stable political environment, pro-business government, and of course its growing economy. In fact, according to La Estrella de Panama, Foreign buyers from United States, Europe, Canada, and Latin America are pushing up property prices in Panama. Between January 2015 to June 2017 alone, the average dwelling sales price surged by 21% in Panama’s metropolitan area. Additionally, there are large public works projects underway. These include a second and third metro line and urban renewal of Colón. These initiatives helped Panama grow by an average of 4.6% annually from 2017 to 2018. The further expanded Suez Canal will boost transits from larger ships on the eastern US-Asia route. After having risen by 6% in 2019, the economy in Panama is expected to expand by another 5.5% in 2020, according to the IMF.
Panama’s track record and projections acts as the secret sauce for success for Titanium Group, which is the parent company of the renowned Regency Real Estate Developers, which was founded by Baruj Avram, his father Eli Avram, Under the direction of Titanium Group, Regency Real Estate Developers quickly became known to be the largest and most successful real estate company in Panama, covering everything from high end buildings to affordable housing, hotels, office buildings, mixed-use developments, and more. Regency maintains high standards in the way it manages and develops innovative real estate projects across Panama.
Another reason for the success of Titanium Group may be their intrinsic goodwill element which starts from within. In addition to the success of his firms, Baruj Avram is respected for his philanthropic efforts. Baruj is very closely associated with the generous funding of a series of charities worldwide, most notably the Lev LaLev Charity Fund, in which he provides 50% of the funding for their operations and initiatives. Lev LaLev provides orphans with food, shelter, therapy, and mentoring. It additionally provides them with support through many of life’s milestones, holiday wardrobes, and recreational activities.
“In both business and personal affairs, I’m a believer in putting good out into the world, because it always comes back,” says Baruj. “My global team consistently puts a lot of work into our efforts in Panama, and the success speaks for itself. But what I am most proud of is the way that Titanium Group is helping to give back to the country, economy, and people of Panama.”
Indeed that holds true. The Regency Real Estate Developers website is entirely in Panama’s native dialect of Spanish, yet the English translation of the message from their CEO, Michael Harari, still manages to communicate the importance of social impact in their business practices. “In Regency Real Estate Developers, all our employees from the day they start in our company begin to breathe the Social Responsibility we practice, because the strength of our company’s business in one way or another already carries it intrinsically. This means that each one of the projects that we develop and that we plan to develop, we carry out with the well-being that it will produce in society.”
Of the dozens of large-scale projects the Titanium Group secured in Panama, some of the most notable office spaces include the Tower of the Americas, the Regency Square, City Center, Dorchester Plaza, and City Club. Their notable residential properties include the Coral Residences & Spa, Tuscany Tower, and Urbis Tower. Their most popular commercial properties include the New York Square, Mall Chiriqui, and Balboa Center. Titanium Group’s well known mixed-use properties include the Albrook Commercial Park, and the City Depot.
For anyone looking to invest overseas, Baruj offers sound advice. “Look no further than Panama, but only dive in after spending time in the area(s) you plan to invest in, to get the lay of the land, in terms of how profitable an investment is likely to be for the long term. It’s important to get a sense of the geography, culture and customs, to determine how they align with your needs and/or goals. But over all, especially considering Panama’s favorable positioning across the board, if you’re wondering when would be the best time to invest in the region, there is no time like the present.”