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One of the growing pains associated with Panama’s growing economy, thriving business environment, and growth in real estate investment is that Panama needs to update its bus system. Panama uses old, OLD, US school buses for public transportation. These have been repainted from their original yellow and are locally known as red devils, “diablos rojos.”

Panama has had a great run of success these last ten or so years. More folks are working and government subsidies have encouraged a housing boom in the suburbs. However, more people traveling longer distances has put pressure on Panama’s public transportation system.

Panama’s buses are old US school buses. They are colorfully repainted, have distinctive horn sounds to identify themselves to passengers, are loud, and pollute the air. The government is trying to phase them out and buy new buses but the issue is a hot potato and was put on hold by the Supreme Court for the time being.

However, in anticipation of the phase out the National Transportation Authority wants to use at least some as school buses again. So, it may be that buses that took kids to school in Omaha or Albany years ago may be taking boys and girls from Carrasquilla, or Chorrera to school.

This seems like a welcome solution to one of Panama’s growing pains. The bus owners/drivers are private business people who have a license to drive a specific route. There are proposals to buy their buses when new, modern ones are purchased but no guarantee of employment in a new public transportation system.

Putting the buses and their drivers on school routes seems like a sensible solution to a two-fold dilemma.

In the meantime the underlying cause of the transportation problem continues. Panama is still growing and prospering. Panama investment in business and real estate continues despite a recession in the rest of the world. While the great nations of the word lost business and jobs in 2008 Panama added jobs and grew 9 percent.

Megaprojects such as the Panama Canal Expansion promise to keep attracting investment in related infrastructure projects as well the skilled workers needed for the new state of the art locks for the “third lane” of the Panama Canal.

Panama is seeing a lot of real estate growth across the canal from Panama City. There is unused land waiting for development into storage facilities, assembly sites, sites for receiving and shipping containers, and the like. These investments will create jobs and people will want to live near their jobs. Thus the public transportation system in Panama will have another challenge requiring something a step or two up from the diablos rojos.

With projections of the recession waning in 2010 and after expect to see further development in the canal area. ABPanama believes that real estate investment in commercial property in this growing area will provide appreciation and lease payments for years to come.

Come to see us at ABPanama if you are interested in investing panama central america real estate. In anticipation of the economic recovery this is an excellent time to invest in Panama’s future.