Hartlepool, United Kingdom (PressExposure) February 04, 2009 -- Panama's property market is proving to be one of the world's most resilient to the global downturn, with the massive canal expansion plan well under way and projects like Trump towers and other massive sky-scraping developments, being built and dominating the skyline. But one overseas property expert sees a massive boost for Panama's economy in 2009, which in turn would help the property market stay resistant. Les Calvert, director of overseas property portal Property Abroad said:
"The Trade Promotion Agreement between Panama and the US still hasn't been ratified by the US Congress. The Bill was held up first by the fact that the President of Panama's National assembly Pedro Miguel Gonzalez was wanted in the US for killing a US soldier stationed in Panama 1992, despite his being cleared of the crime by a Panamanian court. Gonzalez stepped down September 2008, but it is widely thought that the Panama TPA won't be passed before the Colombia TPA, which is now causing the delays. Most analysts see both being ratified in 2009â.
Calvert added: "Panama's economy stayed strong throughout 2008 and it is widely expected to stay the same for 2009 -- the TPA would help massively in this aim."
Property Abroad have some excellent properties in Panama, including 1 bedroom off-plan apartments in the Nations Hotel development. The Nations Hotel is located in Panama City's key financial district Bella Vista and is within walking distance of all amenities including bars, restaurants and other leisure facilities. The development comprises of 1 and 2 bedroom apartments priced from Â£142,000 and 1 bedroom hotel rooms priced from Â£95,000. Immediate price growth when the development is complete is likely to be at least 15% possibly more.
Property Abroad are also advertising the Bala Beach development, which is beachfront to Maria Chiquita Beach on Panama's Caribbean coast and offers one bedroom off-plan apartments from just Â£55,000. Facilities on the development include: Tennis courts, Health club and spa, Infinity and lap pools, Beach volleyball courts, Basketball courts, Valet parking, and 24-hour concierge. The resort-style development is in an area where tourism is growing, little wonder because of the wide range of activities on offer including: deep-sea diving, scuba diving, and exploring Spanish ruins.