Panama’s real estate market has seen many ups in recent years. The country has braced for real estate to be affected by the U.S. recession and has instead begun to court foreign investors.
Currently, the Panama Canal expansion represents a quarter of the country’s GDP. The $5.2 billion project, which is widening the Canal to accommodate larger cargo ships through the waterway, is expected to increase overall global trade. Along with the 7,000 jobs that the expansion has created, have been high-priced condominiums and an upward trend in the economy.
Because of the privatization of telecommunications and electricity privatization in recent years, there has been significant growth in business sectors over the past five years.
An April 7th article by Real Estate News & Information, stated that there is “A New Option for Real Estate in Panama”, claiming that “commercial office space in Panama is now passing its premium time”. It is expected that foreign investment will increase over the next five years, and with incentives to relocating companies, commercial real estate prices will go up. The source predicts that properties for warehouses and call centers will provide long-term value. Click here to read about Panama real estate futures.
Interested in a property in Panama? Visit Panama-Land-for-Sale.com to see land and other real estate listed for sale. Use our site as a resource for moving or relocating to Panama…Click here for more information.
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We have been saying this for some time at http://www.abpanama.com. Panama has a unique niche in the world economy. Even with the global credit meltdown canal shipping only went down 3% in ACP's second quarter.
I suspect that things will not dip as far and will recover sooner here than in the US or Europe.
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