Published on 08 October 2005 at 04:39 pm
Filed under: South/Central America:- Panama Property Guides » Panama for Real Estate Investors
Panama is a strategically important, stunning, tropical Central American country growing increasingly popular with real estate investors particularly from Northern America and Western Europe.
International property investors are attracted to the favourable Panamanian taxation regime, the wealth of opportunity in the real estate sector offered country wide as well as the long term property sector growth potential which is based on some very solid and positive foundations.
Since 1903 Panama has had a purely symbiotic relationship with America; they received substantial direct assistance from the United States to secede from Colombia, construct the Panama Canal, depose a dictator and build up a solid, service based, dollar linked economy that is continuing to develop consistently.
America’s assistance was undoubtedly driven by Panama’s strategic importance to them as the country borders both the Caribbean Sea and the North Pacific Ocean; and US assistance led to the construction of the Panama Canal which is a link between the two oceans and which America operated from 1914 until 1999.
The US/Panama relationship remains symbiotic to this day, and until recently Panama’s tourism and emerging real estate sectors were dominated by Northern American interest. Northern American tourists were attracted in increasing numbers to experience vibrant Panama City and then more recently they have begun to explore the Pacific Ocean facing Costa Blanca.
The government of Panama are committed to further developing their tourism market and promoting the many virtues of their country which include stunning land and water based activities, a fantastic natural landscape and a lush tropical environment and climate, and so far they have been successful in drawing increasing numbers of overseas visitors particularly from Northern America and Western Europe.
Having raised the profile of the country it was only a matter of time before property hunters seeking an affordable paradise turned their attentions to Panama real estate as well, and nowadays the country has an increasing number of people interested in buying up second homes and retirement homes as property is affordable and the country attractive.
In 2004 Panama witnessed a construction boom which was fuelled by international property investor interest and supported by a series of construction taxation breaks offered by the Panama government to kick start inward foreign direct investment into the real estate sector. Favourable taxation breaks extend to the individual and company in Panama too and are just another reason why more and more people seeking an exotic overseas destination for investment, a second home or even retirement are turning their attentions to this Central American country.
The cost of living in Panama is affordable, the climate is attractive, the country is internationally accessible, the people are welcoming, the capital city has a wealth of job opportunities particularly in the financial, banking and insurance industries, the country has been in the top ten retirement destination list for the last several years and as a direct result of all of these facts the numbers of those considering expatriating to Panama, retiring to Panama or buying a second home in the country are increasing.
Currently the supply of quality villa based or retirement property is falling behind the demand which naturally creates an immediate investment opportunity. Over the longer term the Panamanian government are committed to making their country more desirable, their people more wealthy and their economy more stable - these are indicators that the fledgling investment property sector in the country is built on solid and sustainable foundations.
The majority of real estate investment opportunities currently exist in Panama City and along the Costa Blanca with rental to professionals, students and tourists easy in the former and resale to retirees and rental to holidaymakers profitable all along the latter.
South/Central America:- Panama Property Reports
Complete listing of all current property reports for region: South/Central America:- Panama
