 Referring to the Panamanian real estate market, the former president of the Panamanian Association of Executives of Enterprises (APEDE acronym in Spanish), John Bennett, considered that people are working hard to improve the nations competitiveness and opening international commerce, “ extraordinary tools to accelerate the healthy development of the country”.He prognosticated that Panama will achieve greater development than its neighboring countries, regarding the Panamanian real estate market, due to thousands of investors that have chosen Panama as a new place to live.
As per the economic consultant, Yazmina Escobar, Panama has many positive qualities that have benefited the real estate market such as low inflation, stable currency, a competitive and economically opened financial system.
On the other hand, she considered, that the expansion of the Panama Canal will generate benefits in the different economic sectors of the city, since a megaproject like this will require multidisciplinary jobs that will generate the interest of different investments on an international level, which includes the real estate sector.
Additionally, the economic expert indicated that the real estate market in Panama has been increasing previous to the approbation of the expansion project; product of the economic cycle and the existing international monetary expansion, and the competitive advantages of the cost of life in Panama offers foreigners with plans of settling in this country.
Finally, she suggested that the Panamanian government must take advantage of the economic expectations that the expansion of the inter-oceanic via arises, to provoke the conditions that will guarantee the economic growth of the nation remains stable and extendable in time, actions that increase the favorable conditions of the Panamanian real estate market.
For information on available real estate in Panama please contact us directly at Inter Panama Real Estate Agency.
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