Information about Panama

Panama, bridge of the world.

Panama is a sovereign country of America that is located in the southeast corner of Central America which is also its subdivision. Its official name is Republic of Panama and its capital is Panama City. The republic is made up of 9 provinces and 5 indigenous regions. It limits the North with the Caribbean Sea, the South with the Pacific Ocean, the East with Colombia and the West with Costa Rica. It has an extension of 75.517 km². Located on the isthmus that connects South America with Central America, its mountainous territory is only interrupted by the Panama Canal. Its population is 3,405,813

According to the Panamanian Constitution, Spanish is the official language of the country and all Panamanians have a duty to know it and the right to use it. In 2006, it was the mother tongue of 93,1% of Panamanians. Other languages, also Panamanian, are recognized in the educational system in various communities where the indigenous population is the majority.

His condition as a transit country made it an early meeting point for cultures from all over the world. The country is the geographical setting of the Panama Canal, a work that facilitates communication between the coasts of the Atlantic and Pacific oceans and that significantly influences world trade. Due to its geographical position, it currently offers the world a wide platform of maritime, commercial, real estate and financial services, including the Colon Free Zone, the largest free zone in the continent and the second in the world.

With a population slightly exceeding three million inhabitants, it has a privileged position in several growth and development classifications in Latin America, such as the human development index 2011, (first in Central America and sixth in Latin America). The country is cataloged in absolute terms, that is, without taking into account the distribution of wealth, such as medium-high economic income. In addition, according to the Global Peace Index, Panama is the second safest country in Central America, after Costa Rica.

Panama Real Estate Industry Review

Since the reversion of the Panama Canal to Panamanian hands on December 31, 1999, and since the dawn of the XNUMXst century, a new stage has been marked in the Real Estate Industry in Panama, since it takes a totally unexpected turn. infused by the impressive boom in construction, coupled with tax incentives granted by the Panamanian State, and thanks to the beginning of the "Information Age" that together with the "Globalization" process, all these elements, in their Together, they make up the perfect formula to attract a large number of tourists and foreign investors who are beginning to discover and believe in Panama!

The real estate industry takes off by leaps and bounds since then, and despite the global economic-financial crisis that began in the year 2008, Panama maintains a pace of growth and economic stability.

New projects and developments, both residential, commercial, industrial and tourist, throughout the entire Republic of Panama, have given way to a whole range of individuals in search of new opportunities and a better quality of life. Thanks to the legal and natural security that this country offers, both nationals and foreigners, be they retirees / retirees / pensioners, who are granted a system of special benefits; traders and / or investors with tax incentives; and even tourists / vacationers who simply come to know and explore, all of them have contributed in giving Panama credibility and positioning among the top 5 places in Latin America from 2013 to 2016, and among the 20 countries in the world, that are projected with high economic growth between 2013 and 2016 according to the World Bank.

This progress will continue as long as supply and demand continue to feed Panama's real estate market, and for all those national and foreign individuals who wish to try a better luck in this navel of the American continent, called Panama.