Panama Property: An Investment Dream!

A relative newcomer on the international property block, there are many advantages to putting your money into Panama property. This Central American country’s economy is growing year-on-year and the authorities are doing as much as possible to encourage more inward investment.The Panama Canal, one of the globe’s most important waterways, is currently under going a massive expansion programme. This will allow more and bigger vessels to use the waterway, resulting in new businesses relocating to the area and a larger workforce to service the canal. Lying at one end of the canal is Panama City and at the other is the Colon Free Trade Zone. Colon is the second largest free trade zone in the world and attracts thousands of visitors and new companies every year who benefit from a variety of tax waivers.The economic climate is investment-friendly for individuals too with incentives such as 0% tax on some newly-constructed homes for the first 15 to 20 years. There is also a 0% tax level on income earned outside Panama, which will encourage those who spend a lot of time out of the country or who run businesses elsewhere.The cost of living and the world’s most generous retirement programme are other major bonuses for those living in and investing in Panama properties. The tourist pensionado visa offers non-native residents massive discounts such as 20% off medical consultations, 50% of entertainment, 25% off air travel and 25% discounts in restaurants. This alone attracts thousands of North Americans who are looking to retire to Panama to make the most of their retirement income. The country recognises both the Panamanian Balboa and the US Dollar which is an extra incentive for US citizens to move.All this means that people who purchase property in Panama now for rentals or resale can look forward to servicing a very large – and expanding - captive audience.Properties in Panama City to deliver impressive capital growthMany investors are looking to property in Panama City to bring high returns on investment and impressive capital growth in the mid term. The most prestigious and sought after Panama City properties are located on the Avenida Balboa, a waterfront thoroughfare connecting the booming business district with Panama City Old Town – a UNESCO World Heritage Site.Properties on Avenida Balboa face the Pacific Ocean and offer the kind of light, space and contemporary style you might associate with Miami’s upmarket south beach area. The area offers a wide range of shops, services and leisure facilities and is close to the main airport.Avenida Balboa properties are built with the American market in mind and are very spacious to encourage a smooth transition for those moving from large detached houses. These apartments and duplexes offer outstanding value for money and are set to deliver impressive returns on investment over the next decade.Invest in property in Panama today for the best investment returnsThe number of Americans looking to buy property in Panama will soar during the next ten years as the baby boomer generation moves towards retirement age. This presents an incredible opportunity for those who invest in properties in Panama today while prices are still excellent value for money.In addition to the retirement and relocation market, Panama’s investment climate is enriched by the works that are now taking place on the Panama Canal. This is a major expansion scheme which will take many years to complete. As well as attracting a substantial migrant workforce during the course of the works, the finished project will attract millions of dollars of new business, making Panama City a truly 21st century capital city with the infrastructure, services, facilities, tourist industry and economy to match.Catriona Hogan, Marketing Manager of Dream Homes Worldwide said, “Panama is unique in that a variety of economic driving factors are set to converge within the next decade to propel the country into the economic big league. The opportunity for those who invest in Panama property now to make excellent returns is huge.”