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Posted On: 04/07/2009
Panama Property Recommended for InvestmentPanama has been named as one of the top 5 best destinations for long-term property investment.
Overseas property specialists Azure Overseas have cited Panama's incredible economic growth and the Canal expansion as reasons for its being so highly recommended. Director Frank Crowley said:
"Panama's economy is centred on the services sector, which accounts for over 3 quarters of GDP, the main services being those that arise from the operation of the Canal and the Colon Free Trade Zone. The Canal being expanded to triple its capacity has made Panama very attractive to companies, which is boosting the economy now, and will be a massive boost when completed in 2014."
"Panama property is one of the few fool-proof investments in the world. Prices are really low at the moment, so you can get in on the floor. Economic growth means rising demand for internal housing, while the dollarized economy, which makes Panama the most popular destination for American retirees both give investors a reliable exit-strategy," he explained.The IMF forecasts 3% growth for Panama this year and 4% next year. While that is a lot slower than the 10% average achieved in the years preceding, it is still impressive against the backdrop of one of the worst global recessions on record.
"Panama construction remains a strong industry, with no reports of any major projects being cancelled, including the massive Trump Towers development which is proceeding on schedule. This makes buying off plan property in Panama a safer bet than most other places," concluded Frank.
Azure Overseas is currently marketing Panama property for sale priced from: £55,000.
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