Find out what’s happening in the property investment arena both in the UK and internationally
Book Your Room In Panama’s Hotel Boom
February 9, 2009Article by Ray Withers
Panama City (PRWEB) 07 February 2009 – Panama is at the crossroads of not only the Americas but the threshold of a thriving financial future as one of the world’s driving force economies. Extending the Panama Canal is bringing in business, banks and tourists by the planeload and the hotels Panama City are struggling to cope with the influx – already ranked as having one of the highest global hotel occupancy rates standing at 84.7%, second only to Perth, Australia.
Panama investment property is a favourite with US tourists and expats as the country is a tax haven and has adopted the US dollar as the state currency and offers substantial tax advantages through the ‘pensionado’ scheme to property investors. Like Hong Kong and Dubai a few years back, Panama shows all the signs of bursting through as a major financial and tourist destination, and like Hong Kong for Asia and Dubai for the Middle East, Panama is an easy jump-off point for exploring the Caribbean islands, South and Central America.
If you’re looking for an explosive Panama real estate investment opportunity, then cashing in on the current business and tourism boom is worth considering. A typical investment is the newly-launched Property Frontiers’ Nations Hotel, Panama City, located in a key financial sector – Bella Vista – a hotspot for nightlife, shopping and restaurants. This five star hotel is a short walk from the ocean and harbour and will service international travellers and the business community. Nations Hotel will offer a range of rooms throughout its impressive 26 storey structure designed by renowned national architect Musa Asvat Kasu.
Investors can choose between varying sizes of one bedroom hotel rooms and also one and two bedroom apartment units. Each room comes with a unique furniture package, while all rooms have ceilings of 10ft in height ensuring a spacious feel is maintained throughout the architecture. A one bed room starts from £95,245, with expected net yields in excess of 12%. Investors can buy from just £37,810 with a 60% loan-to-value mortgage.
The Nations Hotel, Panama City , will offer a mixture of hotel and residential units, all of which will benefit from the hotel’s prestigious features including:
- Gourmet restaurant
- A spacious bar / lounge business centre with state of the art technology
- Sky pool and decking area with spa and fitness centre
- Valet Parking
- Five minutes from fashionable shopping boutiques, restaurants and casinos
“Panama has very few rivals in its potential for economic expansion. A combination of infrastructure, finance, tourism, taxation and the second highest hotel occupancy rate in the world make this a country worth serious consideration. Economic output is expected to exceed 7.6% from last year’s figure of 8.6%,” said Property Frontiers’ sourcing manager Ben Jefferis. “Tourists have also discovered the wealth of riches the country has to offer. Panama City is the only city in the world to have a rainforest within its boundaries and with the Caribbean and Pacific oceans a short drive apart it is clear why tourists are drawn to this unspoilt year-round destination.”
For more information contact Property Frontiers on +44 (0) 1865 202700.