Growing Panamanian property investment destination highlighted

Chiriqui in Panama is a growing location for property investment, it has been claimed.

It has been selected as one of the best emerging coastal regions in the world for purchasing homes in a list published on Write-about-property.com, with properties available for just over GBP50,000.

The article noted that Panama is expected to experience growth of three per cent this year in spite of the global economic downturn, followed by an expansion rate of four per cent in 2010.

Additionally, the source explained, the Panama Canal is being expanded "to become one of the most important transport waterways in the southern hemisphere", making the country a centre for investment.

A popular destination for US holidaymakers and retirees because of its dollarised economy, the website forecasts that property price will double by 2014 and may treble over the coming five to seven years.

Located in the west of Panama, the province of Chiriqui has a Pacific Ocean coastline and its economy is based on agricultural and cattle production, with the tourism industry taking off in recent years.

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