Hotels Panama,
Seems to be like the Real Estate Market in Panama is way different than the market in Costa Rica, they have Panamanian buyers, buyers from south america like Colombia, south america, china and middle east, and mostly from europe.,europeans are hot buyers, since the euro is much stronger than the dollar, and panama prices compared to their prices are much atractive.
Panama is a banking paradise, the perfect place to invest money from many sources all around the world, the goverment is making so much money in taxes and the canal fees that they can afford to put more infraestructure.The old ugly areas like Calidonia and Chorilos are going to disappear to beome
This place is groing growing to fast to soon. Is very credible when they say its the Singapore of the americas.
I see that there is a great future for Panama, I don't know why we are no getting this market for Costa Rica, but the most Panama grows, in long term it will be more positive for Costa Rica. ( Ronald Artavia )
Economics Drivers ( Credits: http://www.adamoproperties.com/about-panama.htm )
The Panama Canal is the main economic driver of this country of three million people and the expansion of The Canal in 2007, has been the first major decision that Panama has faced on, with regards the canal.
The project price is estimated at 5.25 billion dollars; includes design, administration, construction, tests, environmental-protection, measures and implementation, as well as a contingency fund of 1.03 billion dollars and is expected to take between seven and nine years to be done.
The job generation and the real estate area will be the major activities during the construction. There is an estimate that, during the peak years of construction, between 6,500 and 7,000 new jobs will be created, not counting the indirect jobs and other related activities.
Despite the canal's importance to the Panamanian economy, The Colon Free Zone which grew year by year and which generates $10 billion per year in imports and exports is the second largest Free Zone in the world, next to Hong Kong . The Free Zone is located in the city of Colon at the Atlantic entrance to the canal, and has been extremely successful with more than 1,000 companies established.
Panama is a viable resource for many residential real estate investment opportunities, with hundreds of properties right now under construction.
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The tourism for Panama represents also an important economic driver, because it generates direct and indirect profits in different economic areas.
Summarizing the main drivers of economic growth in Panama will be continued by The Panama Canal operations, The Colon Free Zone and real estate.
The use of the US dollar as the local currency and an international banking center has made Panama a very competitive country in Latin America | |
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