Panama: a World of opportunities

Transcription

1 Panama: a World of opportunities Jose Boyd Past President Panamanian Association of Real Estate Brokers & Developers

2 Founded in 1973 Leader of the Real Estate Sector Members of the Junta Tecnica de Bienes Raices, which is the government institution that regulates the profession Member of the National Council of the private enterprises CONEP Member of the Alliance of the Construccion Industry AIIC Member of the Panama USA Council USPA Member of Panamanian Tourism Chamber CAMTUR Member of Real Estate International Federation FIABCI Member of the Real Estate Latin America Coonfederation CILA Alliance with the National Association of Realtors NAR

3 WHERE IS PANAMA? ~Geographically located in central America ~Culturally from the Caribbean ~Financially from South America Population: 3.8 million Area: 75,517 km2 Government: democratic Inflation: 4% Unemployment: 3.5% GDP: 6.2 % 2014

4 Panamá: Law Incentives for Investments

5 Free Trade Zones & Logistics Assests New Free Trade Zones According to Law 32 Panama Diamond Exchange Aprobado Régimen de Zona Franca Parque Sur Aprobado Régimen de Zona Franca Parque Industrial de las Américas Aprobado Régimen de Zona Franca Parque Logístico Panamá Aprobado Régimen de Zona Franca

6 Panama: home of multinationals headquartes Detalle Multinationals according to Law 41 de Total 116 The great mayority from USA (28) others from Netherlands (9) y Swiss (9)

7 HOTELES & AIR CONNECTIVITY More than 300 World class hotels 25,000 rooms in the Country

8 OTHER POTENTIAL ASPECTS FOR INVESTING IN PANAMA Health Facilities with alliance with John Hopkins in USA No Natural Disasters Colon Free Trade Zone is the 2 nd s biggest in the world Connectivity through fiber optics The Panama Canal forms a maritime triangle of communications. Since1904 the dollar is circulating in Panama Banking System is stable with 90 banks in Panama Private companies Maritime flags 25 years of straight democracy and political stability

9 COMPETITIVENESS OF PANAMA COMPARE TO LATINAMERICA

10 The Global Competitiveness Report

11 PANAMA The Global Competitiveness Report Panama continues to follow Chile in the regional rankings and once again scores as the most competitive economy in Central America. The Global Competitiveness Index continues to benefit from important competitiveness strengths. As it did last year, Panama boasts impressive infrastructure, with some of the best port and airport facilities not only in Latin America but in the world, positioning it as a strong transport hub for the region. Its financial market and an assessment of its technological adoption, especially via foreign multinational corporations setting up in the country, remain strong, and its mobile broadband subscriptions

12 , WORLD No.1 DESTINY ~NEW YORK TIMES No.1 FOR RETIREMENT~ WALL STREET JOURNAL No.1 LATIN AMERICAN COUNTRY WITH COMPETITIVE INDEX No.3 UNEMPLOYMENT UNDER 5% No.5 LATIN AMERICAN COUTRY TO DO BUSINESS WITH BBB INVESTMENT GRADE ~ FITCH RATING BBB INVESTMENT GRADE ~STANDARD & POOR BAA2 INVESTMENT GRADE ~ MOODY S

13 PANAMA: PANORAMA OF THE REAL ESTATE MARKET

14 Residenti al market Average Lease Rate: $10.00/sqm2 Average Sale Price: $2,400 (class B) $2,700 (class A) Construction(A+B): 4,915 m2 COMMERCIA L MARKET Average Lease Rate: $21.53/sqm2 Maintenance fee: $2.07/sqm2 Average Sale Price: $2,648.34/sqm2 Construction: 378,529 sqm2 INDUSTRI AL MARKET Average Lease Rate: $10.81/m2 Manteinance fee:$1.30/m 2 Average Sale Price: $1,397.01m2 Average Sale Price of a Lot: $310.64/m2 Actual Inventory:43 2,126m2

15 Reference interest rates : 5.5% Residential Interest Rates: 4.25%~ 5.75% 20 ~ 30 years 70%~ 90% finance Superintendency of Banks Commercial Interest Rates: 6.50 ~8.00% +1% feci tax 10 ~15 years 50% ~70% finance

16 WHAT IS IT FOR ME AS A BROKER?

17 We have a Law that regulates Brokers in Panama for more than 15 years International brokers are not allowed to work without a license International brokers need to work with a license broker in Panama We do have a Multiple Listing System (MLS)for members only We do work with referrals at 1.5%

18 SEASONS ACTIVITIES: Master s Awards Ceremony September 24, 2015 ACOBIR Annual Real Estate Expo January 27 31, 2016 FIABCI World Congress Panama May 21 26, 2016

19 Come Panama s famous