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Question
Can one get Real Estate financing from Panamanian banks or must all purchases be in cash?
J W, most of Panamanian banks do offer real estate financing and their protocols are similar to the ones in the US. Some of them are as high as 70% for qualified customers. The specifics and pre-requisites for mortgages must be discussed with each bank as they may vary.
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Answers by Expert:
Dimitri Svolos
Expertise
Even though in Panama things are not always what they appear, I'll answer any question and comment on any topic related to relocating or moving to Panama, Panama immigration protocols, dealing with governmental procedures, Panama cultural and social structure, Panama car imports, building in Panama, Panama real estate investing and starting a business in Panama. What I'll not answer is Panama legal issues and dating advice related questions.
Experience
I have over 10 years of experience as a professional engineer and entrepreneur in the Republic of Panama. I've set up three successful businesses and have built three houses both in Panama City and the interior. I am fully tri-lingual in English, French and Spanish. I am originally from Canada but living and working in Panama since the canal changed hands (1999).
Organizations
Association of Consulting Engineers of Canada (ACEC)
Canadian Academy of Engineering (CAE)
Canadian Council of Professional Engineers (CCPE)
Canadian Federation of Engineering Students (CFES)
Canadian Society of Professional Engineers (CSPE)
Engineering Institute of Canada (EIC)
Education/Credentials
Bachelors in Civil Engineering (Urban Planning & Development)
Masters In Business Administration, Production & Operations Management
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