panama property looking good over the long term
News Posted On: 20 January 2010
Though experts' predictions for the Panama property market and economy in 2010 are not as bright as the predictions of a coulpe of years ago, the consensus of opinion is still for considerable growth in property values and rental incomes if not over the short or the medium term then definitely over the long-term -- of course depending on who you speak to.
One thing that is not in dispute is the fact that wages of Panamanians at large have increased by a great deal in the last few years. Despite this fact, developers tending to target the luxury market has left a shortfall of property that is affordable to Panamanians and these people are currently forced to rent their accommodation. This is great for buy to let.
Unfortunately this is irrelevant to most overseas buyers, who either want to take holiday renters so they can use the property themselves, or so that they can make higher returns. None the less, growing affluence in the community can only be a good thing, because there will be demand for luxury property from the internal population years down the line; as affluence spreads more people can afford to go to and to send their children into school, which breeds even more affluence into the future.
There are even a few predictions going about that suggest the level of borrowing for the canal expansion will see traffic through the canal drop in the coming months and years. Maybe it will, maybe it won't but again, in terms of the bigger picture the expansion will bring massive economic growth and increasing affluence from its completion in 2014 onwards.
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