Expected real estate boom through Chinese investors

Following the onset of diplomatic relations with China some weeks ago, Panama is looking forward to closer economic cooperation and is indeed anticipating a new property boom. Up to now, the Chinese have scarcely appeared as real estate buyers in Panama, something in stark contrast to their worldwide investments in places like Canada, US, UK and Germany. Chinese people had previously received no tourist visas for Panama and didn`t therefore have the country in their sights regarding real estate. That has all changed however…

A great many workers from China and India came to Panama during the construction of the Panama Canal (1904-1914). Pressure from locals at the time subsequently led to the Chinese and Indians being refused tourist visas…a matter which stood until recently. Only work permits for multinational companies such as Huawei or China Construction were granted. Hardly any Chinese tourist groups or private investors were to be seen in Panama. Following new diplomatic relations and a consequent visa agreement, one can now expect the arrival of Chinese investors in the coming months. This will undoubtedly have a lasting impact on Panama`s real estate market and prices, just as in the world`s other countries. In the best locations one can currently buy top quality apartments (e.g. from internationally-renowned designer Philippe Starck) directly on the Pacific promenade for about 2500 US dollars per square metre and achieve a rental yield of 7%. Compared internationally, this is very cheap and will be discovered by Chinese investors who are globally used to quite different costs. And all that with US dollars, in one of the fastest growing countries in the world.
Link China`s property desire

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