How would you assess the development of the real estate and construction sector in Panama?
The real estate sector has great potential with plenty of opportunities for investors. The development of this industry goes hand-in-hand with the development of the country. Panama’s GDP is currently around $50 billion. In a decade, the country has managed to quadruple its GDP. The state has managed to modernize itself over the last decade, becoming a regional power in all senses. Panama is on its way to becoming a developed country—income per capita currently stands at more than $12,000. Average growth rate is between 5% and 6%. These figures have attracted a huge amount of investment in the real estate and construction sector. There is increased access to the housing market for both Panamanians and foreign investors. Demand in the housing market has grown at a very fast pace in the last ten years and the sector had to catch up to meet this demand.