Preferential Interests Rate on Housing up to $80,000

The Panamanian Congress is debating a bill which would raise the ceiling for home purchase loans with preferential interest rates of 4% to $80,000 .

Wednesday, August 28, 2013

From a press release issued by the Ministry of Economy and Finance in Panama:

The law, which amends the second tranche of preferential interest rates for home loans home valued at an amount of between $40,000 to $80,000, was approved in its first debate in the Committee of Economy and Finance of the National Assembly.

This law, under which people would receive a preferential interest rate of 4%, also seeks to encourage the construction of housing and maintain the momentum of investment and infrastructure required to relieve and maintain the economic resources of the majority of the economically active population.

More on this topic

Real Estate Sector Takes Advantage of Preferential Interest Rates

November 2013

In Panama the scheme which provides financing with preferential interest rates is a major factor in the growth of mortgage loans.

With the enactment of Act 3 of 1985, which established a system of interest rates in certain mortgage loans, residential mortgage financing has shown good performance. It has also supported the construction sector as a way to reduce the housing deficit in the country.

Preferential Interest Law for Housing Sanctioned

September 2013

In Panama, preferential interest has been extended to projects whose value is not greater than $80 000, where previously they could not exceed $65,000.

From a press release from the National Government of Panama:

With the aim of 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, President Ricardo Martinelli has passed Act 63 amending preferential interest rate loans.

Panama Approves Tax Amnesty Act

September 2013

Congress has approved giving amnesty to tax debtors and extended to $80 thousand the ceiling for housing loans with preferential interest rates of 4%.  

A press release from the Ministry of Economy and Finance of Panama reads:

The National Assembly approved on the third reading, Bill numbers 627 and 628, the first of which grants taxpayers the opportunity to regularize their tax obligations with the National Revenue Authority (ANIP), while the second, amends Article 5 of Law No. 3 of 1985, which establishes a preferential interest rate on certain mortgage loans.

Panama: Preferential Interest Rates for Houses up to $40,000

March 2013

An amendment has been made to Act 3 of March 1985, which establishes a preferential interest rate system on mortgages, increasing the limit of the first band from $35,000 to $40,000.

From a press release issued by the Ministry of Economy and Finance (MEF) of Panama:

The Bill No.

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