The Panama property market has remained largely unaffected by the global economic downturn, according to research conducted in Latin America.
In a survey of international property experts undertaken by a well known Real Estate company and property listings portal. Results showed that 66% of respondents felt that the worldwide economic slump has had little impact on the property sector in Panama. While a further 12% said that the financial meltdown has had no impact whatsoever.
The experts said that the majority of people currently buying property in Panama come from the Americas, with just 6% of the total demand coming from Europe.
Due to impressive economic growth and a generous tax regime that has prompted thousands of American retirees to relocate to the country, investment in property in Panama has soared over the past few years. At the beginning of this year, the International Monetary Fund projected that Panama would become Latin America’s fastest-growing economy in 2009.
These results show that confidence remains high and it is hoped that these positive findings may even encourage more people to invest in properties in Panama.