The real estate market in Panama has already seen several years of positive economic growth and it has settled since the housing market boom of 2004-2007. But the market is still managing to expand amidst the face of global economic recession. The economic growth rate of Panama is presently at 9%, which is up from 10% in 2011. Such figures certainly show that Panama is the fastest growing economy of Latin America.
As the real estate market of Panama is substantially growing, there are many factors that are contributing to the successful growth of the real estate market, including the tourism rate, stable and boosting economy. The experts suggest that this is the best time to invest in the Panama real estate market.
Check out some valid reasons to invest in Panama in 2013:
Panama is seeing excessive growth in business: Panama is good for business growth and has recently enacted certain tax breaks to provide a boost to the business firms. The multi-national companies are setting up shops in Panama and the reason behind the relocation of so many companies is the geographic position that allows efficient access to some of the major markets. Executive relocations will mean increased rental demand as well as home sales in different sectors of Panama City.
Panama has a rather strong economy: Banks with high level of liquidity, increase in gross domestic product, and low unemployment are some factors that are causing the real estate market to improve in Panama. Panama was hit by 2007-2010 global slowdown when the real estate prices came down by at least 25%. Majority of the workforce of Panama is employed and will continue to be employed by the long string of government projects that are going to come to the market in the near future.
Panama government is strong enough: Panama government is investing in new infrastructure in order to transform the city to more livable, attractive one. There are different items that have been on the desk of the present administration for several years and most of the projects are most certainly moving forward. Did you know that the Panama Canal is producing over $1 billion dollars and this expanded canal is predicted to generate increased traffic as the present canal? This means that Panama is soon going to be the one of the best cities with the best infrastructure by 2015. A stably sound government will make the country livelier and therefore this will also increase the real estate investments of the buyers.
Therefore, if you’re considering real estate investment in Panama, you should get yourself educated on the ins and outs of the entire investment process. Know the valid reasons behind investing your hard-earned dollars so that you don’t have to fall in a mess in the long run.