Panama attracts more foreign property buyers

Panama is becoming more and more popular with foreign property buyers, according to industry experts.

Analysts at Amberlamb stated that the "world and his wife" have become aware of the investment potential in the Central American country.

However, the organisation recommended that investors avoid Panama City and consider places such as Penonome instead.

Amberlamb said it is a highly accessible place which offers a number of lifestyle and financial attractions.

The group commented: "It's already emerging as a tourism hotspot for city dwellers seeking the laidback vibe that Penonome really embodies."

Furthermore, the region was said to offer attractive architecture, good scenery and relatively cheap real estate prices.

Amberlamb added that property values are likely to "creep up" in response to growing demand, which means buyers could get a relative bargain if they enter the market early.

This comes after the Foreign Property Buyer website revealed that Panama's government has extended its 20-year property tax exemption for overseas investors.