Released on: October 23, 2008, 8:49 am

Press Release Author: International Hot Property

Industry: Real Estate

Press Release Summary: Panama property market and the reasons to invest or not
invest

Press Release Body:


Panama has the fastest growing economy in Central America and for investors the
Panama real estate market poses significant return on investment. With most visitors
amazed by the modernity of Panama City with its diverse restaurant scene, trendy
nightlife, and first-rate shopping. From tall, shiny condo buildings that rise over
the bay, to lush, luxurious rainforest and beach development projects but European
Investors are still very wary of Investing in Panama so says Simon Jones market
analyst at http://www.internationalhotproperty.co.uk/

"Panama City is well known as a major Central American and world banking metropolis
and it is here that 80% of foreigners stay. In fact, the nation is the second
largest financial centre in the world, behind Switzerland, with no less than 150
different banks from 35 countries. Panama is also second only to Hong Kong both as a
Freeport and as a provider of foreign registration of the world's corporations and
foundations. Because of its key geographic location, the economy of Panama has a
mixed-western economy mainly based on the services industry, heavily weighted toward
banking, commerce, and tourism. The hand-over of the canal and military
installations by the US has given rise to new construction projects. Panama's
economy is based primarily on a well-developed services sector that accounts for
nearly 80% of its GDP. Services include the Panama Canal, banking, the Coln Free
Trade Zone insurance, container ports, and flagship registry, medical and health,
and other business. While the country's industry includes, manufacturing of aircraft
spare parts, cements, drinks, adhesives, automobiles, textiles and more recently,
handmade artisan creation of Bush planes. GDP growth for 2000 was about 2.3%
compared to 3.0% in 1999. Panama has the third highest GDP per capita in Central
America and the poverty rate was estimated to have been 20% in 2006, a level which
only Costa Rica gets to be lower. The unemployment rate stands at 7.2%.. With such
great economic factors that alone should be enough to satisfy most European
investors" commented Simon

Simon continued "I recently attended a presentation by the Panamanian Ambassador
with the plans they have for the country, tourism, real estate and widening of the
Panama Canal which I have to say was very impressive. Indeed and just the extra
revenue and tourism created by the canal widening project is going to have a very
positive effect on the Panama economy in the future and the other interesting thing
was the biggest investors into real estate are the Venezuelans who are very
concerned about their Countries leader followed by the Columbian's and then by US
citizens with European investment well behind especially when Panama offers such a
good alternative to the current European property market. I would say it's
certainly a very market for European investors and therefore we have done a
substantial amount of research into this market"

Anybody interested in finding out more about the Panama property market should
contact www.internationalhotproperty.co.uk


Web Site: http://www.internationalhotproperty.co.uk/overseas_property/Panama

Contact Details: INTERNATIONAL HOT PROPERTY
press@internationalhotproperty.co.uk