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Thursday, May 23 2019 @ 10:58 PM UTC

Differences Over Bill To Regulate Real Estate Sector

Real EstateElisa Suarez and M. Gabriel Diez, representing real estate developers, explained their position on the creation of a bill being promoted by the Consumer Authority. The developers say the measures should not be applied to everyone, when there are only certain companies who fail to comply with their customers. Suarez, who is the Executive Director of the National Housing Promoters (Convivienda), said the Bill as currently written goes against free enterprise. Both Suarez and Diez support the position of protecting customers, and they are willing to sit down with the representatives of the Consumer Authority to reach an agreement that benefits all parties, and to implement regulations against those developers who do not measure up. (Telemetro)

Editor's Comment: The developers have been getting away with murder for more than a decade. If they were going to police themselves, they would have done it by now. Most of these new proposed regulations would enhance protection for consumers, which would be a good (great) thing for Panama over the long haul. Foreigners are mostly concerned with the possibilities of getting screwed over in Panama, and any effort to shut that crap down would be welcomed. And of course the larger developers don't want to be reeled in. They'll get over it.

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