Panama’s tourism sector goes from strength to strength

Country:  Panama

26 February 2008

Panama’s tourism market is the fastest growing in the whole of Latin America, according to the World Tourism Organization (WTO).

The country possesses one of the fastest growing economies and property sectors in the region. Panama’s property prices have been appreciating annually by 15 to 20% in recent years, while rental yields of around 11%pa, are achievable in Panama, according to Liam Bailey of David Stanley Redfern.

Panama City’s Casco Viejo, along with the suburbs of Clayton and Allbrook are amongst those areas tipped as good places to invest in property.

Foreigners can currently obtain a mortgage of up to 85% loan-to-value, for a typical term of 30 years, at a borrowing rate of approximately 6.5%.

The local currency is linked to the US dollar, which means that Brits can currently get a lot more property for their money in Panama, due to the strong pound against the US dollar.”