 Spurred by residential high-rise units, hotels and retail complexes, as well as fiscal incentives, the construction sector has had an estimated annual growth of 30% since 2003, making Panama's skyline look more like Chicago's or Miami's. According to Panama City's Construction and Public Works Department, the construction sector contributed 814 million dollars to the national economy in 2005.
It’s no wonder then, that the Panamanian real estate market has attracted some of the world’s largest hotels and tycoons like Donald Trump.
With high international demand, especially coming from the United States in the form of retirees, a continually expanding middle class and a rapidly growing tourism industry, this growth is expected to continue into the future. Contact us for more information about investing, living or retiring in Panama or view our Panama real estate articles.
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