A new Legislation In Panama has extended the preferential interest to projects whose value is not greater than $80, 000, up from $65,000 before, aiming at encouraging housing construction and maintaining the momentum of investment in infrastructure needed to alleviate the demand for housing and allowing more Panamanians to have access to these projects.
The regulation, dated September 19, 2013, amending Article 5 of Act 3 of 1985, on preferential rate, is based on the demand for permits to build homes, which are chosen according to the applicants’ economic capacity, those with low and middle class incomes, and whose houses sales prices are mainly those that are between $40,000 to $80,000.
