In Panama City, Panama, the property market is doing quite well. In fact, much of the market is based on the demand of foreign investors looking to purchase highly desirable property for a good cost.
Through the city, there are some 25 high rise buildings as well as and many projects in the developmental stages here. Some 40,000 units should be available in the next 5 to 10 years.
Foreign investors are a large portion of the demand where some 20 per cent increase has been seen. Some are second home buyers looking to retire in the warm tropics. Others are looking to benefit from the high tourism industry here and therefore are cashing in on property purchases within these regions.
Panama was recently named one of the best places to invest by the Homebuyer and Property Investor Show. One of the benefits of investing here is the fact that English is readily spoken. There is a low cost of living here, too, and the crime rate is low. Additionally, the US dollar is the currency in place here, which makes British pounds easier to spend. In addition, investors who buy in specific tourism zones will see discounts in taxes that are substantial.
Panama is an ideal location for investment opportunities. The property prices are relatively low (not the lowest in Central American, though.) Rental income is taxable unless you are located in these tourism zones.
