South American property portal Encuerta25 has revealed the findings of its survey into the Panama property market. According to its report some 65% of respondents think the international financial downturn has had little effect on Panama, and a further 12% think it has had no effect.
I was surprised to find out that only 6% of all people currently buying property in Panama come from Europe, the rest come from the Americas, which isn't a surprise.
Panama became a massively popular destination with overseas property investors, which added to the massive market it had in American retirees buying property in the country -- more than anywhere else in the world.
Panama's impressive economic growth coupled with low property prices, high rental yields (18% not unheard of) and a favourable tax regime are among the reasons for its popularity with overseas property investors.
Now is most definitely the time to buy property in Panama, well actually 2 years ago was the time, but this is all we can do without a time machine. Make no mistake, between now and the completion of the Canal expansion in 2014, property prices in Panama will increase by at least 50%, and possibly even double.
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