Panama tipped for further growth

The

market has been tipped to grow strongly, with a US developer describing it as one of the best prospects in the Latin American region.

Ben Loomis, the founder and president of Amble Resorts, said the country offers a well-run economy and is on course for strong economic and property market growth, due to a favourable trade agreement with the US and an expansion of the Panama Canal.

Explaining the decision of the firm to build a new development that includes a number of holiday homes, Mr Loomis remarked: "Although the economic climate is not the only reason we chose to build our property in Panama, we were definitely attracted to the growth and stability there."

The company is creating it as an eco resort, noting that this is aimed at tapping into the growth of green tourism in the country.

Earlier this month Nuwire Investor predicted that due to the country's growth, Panamanian property will increase to between two and five times its present value in the next five to 15 years.

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