Panama is number one for housing credit in Latin America
Panama is the leading nation in Latin America for the provision of housing credit.
Monday, June 30, 2008
According to a Banco de España study, mortgages for housing purposes make up only 8 percent on average of the gross domestic products of Latin American countries. But in Panama it accounts for 24 percent of GDP.
The banking system has a mortgage portfolio that surpassed $2 billion, according to a study presented by the Multi-sector Investment Bank.
Until September there was a reported growth of 6.87%, less than the 12% of 2009 and the 25% of 2008.
The Legislative has ratified a Treaty for the Establishment and Implementation of Central American Mortgages signed between Guatemala, El Salvador, Honduras, Nicaragua, Costa Rica, Panama and the Dominican Republic.
Up until June 30 the portfolio of construction loans rose to $3.34 billion, $369.1 million more than in the same period in 2012.
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