According to the IMF (International Monetary Fund), Panama is in a position to be more insulated from the economic crisis that is devastating Latin America and the rest of the world, with the fund forecasting a 0.5% shrinkage in the region, while Panama is forecast to grow by 3% in 2009. This is great news for anyone considering Panama as a place to invest, to retire or even to visit as a tourist. Economic growth is a great predictor of social stability, lower crime and of course, opportunity for investment.
With three property sales this season and now only five titled real estate properties left in our project, I am not surprised by the confidence that the international economic community has in Panama. It is a stable country and is on track to weather this economic storm better than many of it’s neighbours.
If you are looking for a safe harbour in these rough economic times, Panama may just be the port of call you are looking for. Real estate prices have dropped to a more reasonable level in many areas of the country and material and labour costs are still a great value.
Posted on Thursday, May 28th, 2009 at 12:20 pm
Filed under Swanny's Blog, real estate project news .
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