Property In Panama

 

Panama

 

Property in Panama

Panama is widely acknowledged as being one of the worlds emerging markets for real estate investment, due to its stunning natural scenary, superb climate, favourable tax incentives and low cost living. As a result of these factors, a number of high quality projects have been announced in Panama as developer look to capitalise on the growing interest in the country.

 

The Panama real estate market also benefits from a stable environment, both politically and economically and with GDP in Panama averaging around 6%, it is understandable that overseas investors have taken an interest in Panama. This combination, coupled with increasing overseas interest, has seen the prices of property in Panama at around 20% per year.  

 

Recent years has seen the Panama authorities taking a more pro-active approach to encouraging overseas investment, and initiatives such as the 1998 Investment Stability Law (this law protects investors from changes in customs duties, labour law and changes in tax for a period of ten years) As well as introducing pro-foreign investment legislation, the authorities in Panama have also undertaken a consider overhaul of the country’s infrastructure in particular around the Canal region.

 

Today, more tourists than ever before are choosing to visit Panama, and an increasing percentage of these visitors are choosing to stay and make Panama their permanent residence. As a result of this increase in the number of tourists to the region, hotel occupancy rates in Panama are consistently high and show no sign of decreasing. The result of this has been an increase in the demand for property in Panama over the last few years, ensuring the opportunities for property investment in the region are considerable.