Why is there a sudden surge in interest in Panama property as an investment?
A. Panama’s recent vote to start a $6.0 billion expansion of the Panama Canal will result in a huge injection of money into Panama’s economy. Canal officials say the expansion, due to be concluded in 2014, will create up to 40,000 jobs. By 2014, the Canal is expected to contribute $1.3 billion a year to the nation’s treasury, up from $580 million today. The entire country will benefit, and real estate, especially property near the Canal, will likely appreciate significantly.
A. Panama’s recent vote to start a $5.2 billion expansion of the Panama Canal will result in a huge injection of money into Panama’s economy. Canal officials say the expansion, due to be concluded in 2014, will create up to 40,000 jobs. By 2014, the Canal is expected to contribute $1.3 billion a year to the nation’s treasury, up from $580 million today. The entire country will benefit, and real estate, especially property near the Canal, will likely appreciate significantly. Q. How is title to property held in Panama? A. The Republic of Panama has one of the most sophisticated Public Registry systems in the region. The Public Registry Office keeps records of all titled properties in all nine provinces of Panama. Q. Is Panama attractive to retirees? A. Panama has tried to encourage foreign investment by appealing to affluent retirees. For that reason, the requirements to own property and establish permanent residence are not nearly as onerous as in some other countries. Foreign retirees
