Panama investors to benefit from tax breaks

Owners of real estate in Panama have been boosted by the news that they will still be able to benefit from a 20-year property tax exemption.

According to the Foreign Property Buyer website, the policy expired last year, prompting fears that some investors would start to shun the country and look elsewhere.

However, the online portal has stated that the government has renewed the tax break in order to keep encouraging growth in its housing market.

Commenting on this development, the website said it means that overseas investors will continue to pursue opportunities in Panama.

Foreign Property Buyer remarked: "The news has been welcomed by investors as it is expected to keep Panama's property market on the up."

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