Panama is an attractive Destination

Discussion in 'Panama Property' started by gsinker, Feb 21, 2009.

  1. gsinker

    gsinker New Member

    Panama continues to be an attractive destination for many as it enjoys constant growth and a healthy economy.

    It is the fastest growing economy in Latin America, with GDP growing at faster rates than China (GDP growth rose 11.2% since 2006), and according to the International Monetary Fund, one of the fastest-growing economies in the world.

    Most recently digging began for $5.3 billion the expansion of the Panama Canal, which will be a great boost for the country's economy expecting to double the $1.5 billion revenue stream already going to the country of just over three million people.

    The country also provides several incentives to foreign buyers including a 20 year property tax exemption on any new property purchased as well as the possibility to obtain residency and a Panamanian passport after closing on property in Panama. There are also no restrictions on foreign ownership and property is fully titled and freehold.
  2. revealrealestate

    revealrealestate New Member

    Although Panama's GDP growth fell to to 8.3% in 2008 (from an astonishing 11.7% in 2007), this is still higher than other countries in the region, including Costa Rica.
  3. gsinker

    gsinker New Member

    And according to the bloomberg report the occupancy level for Panama is over 86%, that was last year believe me that is even higher now.

    Its near impossible to get booked into hotel without booking well in advance.

    Just a note the occupancy level is base on Hotels, the number will be lower for apartments because there is not acrual way to record these numbers. having said that owners i know dodnt seem to have much trouble renting out there apartments.

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