The law applies to new construction with a sales price of up to $62,500, on which buyers can obtain mortgage interest rates of just 2% to 3% (regular mortgage interest rates are currently 6.5% to 7.25%).
Read OnOne of the big incentives to buy property in Panama is the country’s 20-year property tax exemption law—first passed 20-30 years ago to encourage economic development and investment.
Read OnPanama is making history again—the nation’s most exciting (and controversial) project has finally begun, according to Dani Kuzniecky, President of the Panama Canal Authority (ACP) Board of Directors.
Read OnProminent businessman and politician Ricardo Martinelli is speaking out against recent changes in immigration legislation.
Read OnOn June 12 we reported on new legislation regarding the yellow fever vaccine. The National Assembly here had passed a draft law that would require all visitors to Panama to present a yellow fever vaccination card for entry.
Read OnThe developers of the 1,250-foot Ice Tower have also called it quits. Top engineer for the Ice Tower project, Veronica Ng, says that buyers are being reimbursed, but has not elaborated on the reasons for the cancellation.
Read OnPanama and the U.S. have officially signed a Free Trade Agreement (FTA) under negotiation since 2004.
Read OnForget Las Vegas…from now on, what happens in Panama, stays in Panama. The Veneto Hotel & Casino will soon be branded by none other than hospitality giant The Wyndham Hotel Group.
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