Does World Young Day impact properties market in Panama?
Does World Young Day Impact properties market in Panama?
Does World Young Day Panama Impact real estate? Panama is a country located in Central America with a population of around 4,000,000 habitants.
It expected that WYD attendance would be between 150,000 and 200,000 people from all latitudes of the world.
Panama is one of the countries that has developed one of the best sets of laws and tax incentives for citizens and residents of the third and fourth age in the region.
For almost fifteen years, more than 600 transnationals have decided to establish their Headquarters for Latin America in Panama. There are many reasons why multinationals are motivated to develop themselves in our country, and I have listed them.
Knowing some indicators of our country, would you believe that the WYD will affect the real estate market in Panama?
Reasons to invest in properties market in Panama.
Impact Panama real estate the WYD? Below are some reasons to invest in Panama Real Estate:
In the First place its privileged geographic location in the center of North America and South America. In the Isthmus of Panama, there is the shortest distance between the Pacific and Atlantic Oceans.
Second: The use of the US dollar as legal tender. The dollar as legal tender since 1908 gives stability to the economy of our country. Panama does not have Central Banking.
Third: The Panama Canal. The Panama Canal has provided its services to the world maritime trade continuously since 1914. With its expansion, it allows the transit of post-Panamaxships in 8 hours from one ocean to another.
Fourth: The Panama Railroad that provides transit services for cargo containers and ocean to another.
Fifth: The International Banking Center. With more than 100 banks installed in the national territory, it provides many multinationals and organizations with the banking services they need.
Panama is the country with the highest air connectivity in Latin America. Since the installation of the Hub of the Americas by Copa-Continental airlines, passenger traffic has grown dramatically. Also, the increase in passenger traffic has supported by the expansion of the Tocumen International Airport. Soon, Tocumen International airport will be able to mobilize more than13 millions of people annually.
Panama is the world leader in the flagging of maritime vessels. This condition brings owners tax benefits.
The Colon Free Zone was the first free zone in the West and the second in size in the world after that of Hong Kong.
Panamanian Tourism Institute (IPAT) identified around 1398 potential points of tourist interest in the Isthmus of Panama.
The Panama City considered among the first places in Latin America to live taking into account the quality of life index.
Does World Young Day affect properties market in Panama?
Therefore, do you think that the WYD affects the real estate market in the short, medium or long term?