The New Middle Class in PanamaAlong with the pace of strong growth in the Panamanian economy in recent years, so too is growing a new middle class who are driving consumption.Tuesday, July 12, 2011
Homes and cars are the main investment goals of the new Panamanian middle class. For the first objective, the government plans to establish subsidies with the Preferred Interest Act, which pays 4% market interest rate on home purchases up to $65,000. If the market rate is 6%, the customer will pay 2%, and the state pays the other 4%. For households from $65,000 to $ 80,000, the subsidy rate is 2%. In this price range people buying are those who work in banks, industries, business and the health sector, whose household incomes are above a thousand dollars a month. With a monthly income of more than $350, middle class citizens are able to buy a $30,000 home. Source: martesfinanciero.com ¿Busca soluciones de inteligencia comercial para su empresa?Panama: Market for 10,000 New HomesMarch 2015 The areas where most of the developments planned by the National Housing Promoters are located are Panama City, San Miguelito, Arraiján and La Chorrera. Another 50 million Consumers in Latin AmericaNovember 2012 In just six years the number of people in Latin America with middle class purchasing power increased from 103 to 152 million. Middle-Class Housing IncentivesOctober 2011 Proposals submitted by the Costa Rican government are awaiting approval by Congress. Panama Lacks Housing for Middle ClassAugust 2011 Of the 520 housing projects on the market, only 18% offer homes for under $80 thousand.
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