Press Release Summary: Panama property market and the reasons to invest or not invest
Press Release Body:
Panama has the fastest growing economy in Central America and for investors the Panama real estate market poses significant return on investment. With most visitors amazed by the modernity of Panama City with its diverse restaurant scene, trendy nightlife, and first-rate shopping. From tall, shiny condo buildings that rise over the bay, to lush, luxurious rainforest and beach development projects but European Investors are still very wary of Investing in Panama so says Simon Jones market analyst at http://www.internationalhotproperty.co.uk/
"Panama City is well known as a major Central American and world banking metropolis and it is here that 80% of foreigners stay. In fact, the nation is the second largest financial centre in the world, behind Switzerland, with no less than 150 different banks from 35 countries. Panama is also second only to Hong Kong both as a Freeport and as a provider of foreign registration of the world's corporations and foundations. Because of its key geographic location, the economy of Panama has a mixed-western economy mainly based on the services industry, heavily weighted toward banking, commerce, and tourism. The hand-over of the canal and military installations by the US has given rise to new construction projects. Panama's economy is based primarily on a well-developed services sector that accounts for nearly 80% of its GDP. Services include the Panama Canal, banking, the Coln Free Trade Zone insurance, container ports, and flagship registry, medical and health, and other business. While the country's industry includes, manufacturing of aircraft spare parts, cements, drinks, adhesives, automobiles, textiles and more recently, handmade artisan creation of Bush planes. GDP growth for 2000 was about 2.3% compared to 3.0% in 1999. Panama has the third highest GDP per capita in Central America and the poverty rate was estimated to have been 20% in 2006, a level which only Costa Rica gets to be lower. The unemployment rate stands at 7.2%.. With such great economic factors that alone should be enough to satisfy most European investors" commented Simon
Simon continued "I recently attended a presentation by the Panamanian Ambassador with the plans they have for the country, tourism, real estate and widening of the Panama Canal which I have to say was very impressive. Indeed and just the extra revenue and tourism created by the canal widening project is going to have a very positive effect on the Panama economy in the future and the other interesting thing was the biggest investors into real estate are the Venezuelans who are very concerned about their Countries leader followed by the Columbian's and then by US citizens with European investment well behind especially when Panama offers such a good alternative to the current European property market. I would say it's certainly a very market for European investors and therefore we have done a substantial amount of research into this market"
Anybody interested in finding out more about the Panama property market should contact www.internationalhotproperty.co.uk
Web Site: http://www.internationalhotproperty.co.uk/overseas_property/Panama
Contact Details: INTERNATIONAL HOT PROPERTY press@internationalhotproperty.co.uk
2025
