Moderators Moderator_02 Posted September 6, 2019 Moderators Share Posted September 6, 2019 Quote Panama: Incentive to the Housing Market The Cortizo administration approved a proposal that establishes that the government will assume 2% of the bank interest for the purchase of homes valued between $120,000 and $150,000, and in the case of real estate between $150,000 and $180,000, the exoneration will be 1.5%. Wednesday, September 4, 2019 The Cabinet Council approved on September 3 the bill No. 044-19, which still has to be endorsed by the Assembly and seeks to increase coverage for the purchase of homes worth $180,000, informed the presidency of Panama. You may be interested in "Central America: $400 Million in Residential Construction” The statement specifies that "... The modification maintains the existing stretch exonerated up to 40 thousand balboas in which the State assumes the interests totally. While the second section is divided in two: From 40 to 80 thousand balboas with a preferential rate of 4%, and from 80 to 120 thousand balboas with a rate of 3%. In addition, are added the sections of 120 to 150 thousand Balboas with a rate of 2% and 150 to 180 thousand Balboas with a preferential rate of 1.5%. With the creation of the new sections, the objective is to reactivate the construction of housing in the range of 120 to 180 thousand balboas, which represents a crucial opportunity to boost the economy, especially in the construction sector which represents 30% of GDP, but in 2018 fell to 24.6%, which weakened the financing for home purchase." José Alejandro Rojas, minister advisor for private investment, explained to Laestrella.com.pa that "... the new preferential interest rates will apply to new loans regardless of whether the house has been built before the law enters into force, which must be approved in the three legislative debates and then be sanctioned by the Executive." https://www.centralamericadata.com/en/article/main/Panama_Incentive_to_the_Housing_Market Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted September 20, 2019 Author Moderators Share Posted September 20, 2019 Quote New Incentive for the Housing Market In Panama, the National Assembly approved in the third debate the bill that contemplates interest rate benefits for the purchase of homes for a value of up to $180,000. Wednesday, September 18, 201 The proposal was endorsed after the Cabinet Council approved Bill No. 044-19 on September 3, which establishes that for the purchase of homes valued between $120,000 and $150,000, the government will assume 2% of the bank interest, and in the case of real estate between $150,000 and $180,000, the exoneration will be 1.5%. You may be interested in "Central America: $400 Million in Residential Construction” From the National Assembly statement: In the third debate, Bill 88 was approved, "by which a preferential interest regime is established in certain mortgage loans that favor the construction of houses and apartments. The initiative approved by the parliament establishes 4% in housing loans, for a non-renewable period of 10 years, whose recorded value at the time of financing is greater than forty-five thousand balboas (b/. 45,000.00) and does not exceed one hundred and twenty thousand balboas (120,000.00). Also 4% in housing loans, for a non-renewable period of ten years, whose recorded value at the time of financing is greater than B/. 45,000.00 and does not exceed B/. 80,000.00. A 3% in the loans for housing, for a non-renewable period of ten years, whose value recorded at the time of financing is greater than 80,000.00 and does not exceed 120,000.00. Likewise, a 2% in loans for vertical multi-family housing, for a non-renewable period of five years, whose registered value is greater than 120,000.00 and does not exceed 150,000.00 nationally. In addition, it fixes 1.5% in loans for vertical multi-family housing, for a non-renewable period of 5 years, whose registered value is greater than one hundred and fifty thousand balboas B/. 150,000.00 and does not exceed B/.180,0000.00, nationwide. https://www.centralamericadata.com/en/article/main/New_Incentive_for_the_Housing_Market Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted September 24, 2019 Author Moderators Share Posted September 24, 2019 Quote Sales at Panama home show top forecasts by 31% Posted 23/09/2019 The CAPAC Expo Habitat 2019, led to mortgage transactions of more than $175 million, which say the organizers is 31% above projections. Capac president Héctor Ortega said that the modification of the law of preferential interests, which increases the range of incentives from $120,000 to $ 180,000, will allow a new segment of the population to obtain homes with greater credit facilities. Some 2,100 houses and apartments, were sold Panama Province, Panama Oeste, beach areas, mountains and principal cities of the interior https://www.newsroompanama.com/business/sales-at-panama-home-show-top-forecasts-by-31 Quote Link to comment Share on other sites More sharing options...
Moderators Moderator_02 Posted September 27, 2019 Author Moderators Share Posted September 27, 2019 Quote Real Estate Fair: $180 Million in Business Agreed At the Expo Capac in Panama, 2,100 homes were sold, and mortgage transactions for nearly $180 million were achieved, surpassing the projections of the organizers by 50%. Wednesday, September 25, 2019 This year was attended by 400 exhibitors who presented some 600 real estate projects and the support of 14 mortgage banks, public and private, which closed buying and selling procedures with thousands of visitors who came together during the five days of the fair event, reported the Panamanian Chamber of Construction (CAPAC). You may be interested in "Central America: $400 Million in Residential Construction” The statement dated September 23 details that "... The sales made in CAPAC Expo Habitat 2019 corresponded to about 2,100 homes, including houses and apartments, located in the province of Panama, Panama West, beach areas, mountains and major cities in the interior of the country."CentralAmericaData reports state that from January to March 2019, 76 environmental impact studies were presented to develop condominiums, apartment buildings and other housing projects in the countries of the region. Of the total projects, Panama concentrated the largest investment, with approximately $171 million in apartment complexes and horizontal residential buildings, corresponding to 29 EIAs. https://www.centralamericadata.com/en/article/main/Real_Estate_Fair_180_Million_in_Business_Agreed Quote Link to comment Share on other sites More sharing options...
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