Panama
Panama is seen as a country linking North and South America, making up the thin parcel of land between the two continents and providing the famed trade route between the Atlantic and Pacific Oceans.
Panama has been sustaining a overseas property boom in real estate for the past 3 or more years and this activity is expected to continue for perhaps another decade. Known world wide due to the famous Panama canal, Panama has only recently started to attract the attention of overseas property and real estate investors around the world.
Although tourism investment has been increasing rapidly this sector is still under development making it an ideal opportunity for Panama overseas property Investment. Cruise ship activity has experienced a recent growth and to accommodate this there have been two ports developed on the Atlantic side of the Canal and another on the Pacific side.
Panama is the only city in the world in which a protected, tropical rainforest can be found within city limits. The country has many and varied outdoor attractions from the mountain region of Chiriquí to the beaches on the Caribbean coast.
The strongly positive referendum results on building a “third canal” set in motion a $5.25 billion building budget only for this specific project. The canal decision, however, has already inspired much more than this amount on related projects, new shipping facilities, new office buildings, residences, a major infrastructure expansion, a harbor cleanup and a massive boom in tourist facilities. The skyline of Panama City is starting to look more and more like downtown Manhattan.
Panama remains a very dynamic and democratic country built on a strategic piece of land. The canal is an incredibly valuable “renewable resource” for future generations of Panamanians and the trading world at large. Current world trade has a doubling speed of about 7-8 years and Panama will benefit handsomely from this expansion.
Panama also benefits in respect of stability and security from the massive investment presence of China. China typically takes a very long term view and it is interesting to note that Chinese Panamanians control virtually all material supply stores outside of Panama City plus many other businesses.
After Switzerland, Panama is the largest international banking center in the world with almost 100 international banks. Panama City is built using a fiber optics communication infrastructure. Four of the five intercontinental ocean cable lines run through the canal making Panama City.
As well as large companies investing in Panama overseas properties a number of famous people have started to invest such as, Mick Jagger, Brad Pitt and Angelina Jolie, Mel Gibson, and Bono as well as a steady stream of others.
Not only is Panama popular to overseas property and real estate investors but, is now widely regarded as the most popular place to retire to due to many positive incentives offered by the government.
Why Invest In Overseas Property & Real Estate In Panama
- Financial backing from China & Usa
- Canal increasing valuable and businesses relocating to Panama
- Tourism ever increasing, strengthing rental market
- Many benefits available for retiring to Panama
- Still an emerging country and offers much more growth
- Need for more beds due to companies bringing staff over
- Panama benefits from being a stable country and the secound largest banking centre in the world
Key Facts
Capital:Panama City
Money:Balboa & US Dollar
Language:Spanish
Flight time from UK:13hrs
2006 property Growth:15%
Potential Rental Yields:9%
