According to an article in Property Wire, analysts have named Panama one of the top long term real estate investment prospects in the world. UK based firm David Stanley Redfern listed Panama, along with Albania, as the two best long term investments, with Panama’s sustained growth being a major factor in the decision.
“Growth is also significant in Panama. Since the government announced plans to expand the Panama Canal in October 2006, Panama’s economic growth has been around 11% year on year and property values have been growing at a recorded and sustained 25% per year over the same period, the DSR research found.
‘Panama is currently growing into one of the world’s main financial and banking centres, with good communications and first class world amenities. Panama’s dollar based economy is sustained largely by the Colon Free Trade Zone (largest in the western hemisphere) and the Canal, as well as services from the operation of the two including flagship registry and canal tolls,’”
While I there may still be reason for concern that the condo market has been overbuilt in Panama City, the strong economic growth, and the canal expansion currently under construction provide compelling evidence that buying real estate in Panama remains a strong long-term investment strategy.
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