2 September 2009
The Panama property market has remained largely unscathed by the global economic downturn, according to a survey conducted in Latin America.
A poll of international property experts carried out in by Encuentra24.com Real Estate and Classifieds Listings Portal found 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 total demand coming from Europe.
Investment in property in Panama has soared over the past few years on the back of impressive economic growth and a generous tax regime that has prompted thousands of American retirees to relocate to the country.
At the beginning of this year, the International Monetary Fund projected that Panama would become Latin America’s fastest-growing economy in 2009.
The findings from the research shows that confidence remains high and might even encourage more people to invest in properties in Panama.
See Also: Panama (0), Marc Da-Silva (0), Overseas property investor news (0)
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