Panama tipped as long-term prospect

Panama has been tipped to be one of the best property investment destinations in 2010.

Expert Liam Bailey stated in a list of the top places to buy for Write about Property that the country should see the resumption of annual economic growth of ten per cent in 2011.

He added that the main driver of this will be the expansion of the Panama Canal, trebling the amount of shipping it can deal with.

Another factor Mr Bailey noted was the fact that the country is the most popular overseas retirement destination for Americans.

Both residential apartments on long-term lets or holiday residences rented out for shorter periods of time will do well, he stated.

A poll of Latin American property professionals earlier this year found that the majority thought Panama had weathered the economic downturn well.

The Encuentra24.com Real Estate and Classifieds survey revealed that 66 per cent believed the credit crunch had "barely" impacted on the property market there, with another 12 per cent saying it had no affect at all.

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