{"id":4030,"date":"2012-01-06T16:09:44","date_gmt":"2012-01-06T21:09:44","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=4030"},"modified":"2012-01-06T16:09:44","modified_gmt":"2012-01-06T21:09:44","slug":"boost-to-middle-class-housing-in-panama","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/boost-to-middle-class-housing-in-panama\/","title":{"rendered":"Boost to Middle Class Housing in Panama"},"content":{"rendered":"<p><a href=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2012\/01\/affordable-homes.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-medium wp-image-4031\" title=\"affordable homes\" src=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2012\/01\/affordable-homes-300x160.jpg\" alt=\"\" width=\"300\" height=\"160\" srcset=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2012\/01\/affordable-homes-300x160.jpg 300w, https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2012\/01\/affordable-homes.jpg 475w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/p>\n<p>When I first came to Panama, I found that they had a great affordable housing program for the working class, where as long as you had a steady job and a little money to put down, you could buy a home with a subsidized program for homes up to $65,000.\u00a0 Now Panama has raised it to $80,000 and the proposal on the table is to extend the subsidy to homes up to $120,000.\u00a0 A builder that I met who is the first to do enter the Boquete market offers homes for $70,000 where you if have a job and can come up with $1,000, and he will deliver you a place that costs $150 every two weeks!\u00a0 This new program for $120,000 homes opens up a huge market segment that is already hot and will get stronger.<\/p>\n<p><strong>President Martinelli announced that the maximum value for a property to be considered for the preferential interest rate will be increased to $120,000.<\/strong><\/p>\n<p>The measure must be passed in the National Assembly by amending the act, which is expected to happen very quickly.<\/p>\n<p>A current limit of $80,000 has been established as the maximum value of homes that can be financed under the law, which allegedly has led to low-quality <a title=\"housing\" href=\"http:\/\/www.centralamericadata.com\/en\/search?q1=content_en_le:%22housing%22&amp;q2=mattersInCountry_es_le:%22Panama%22\">housing<\/a> solutions being built to keep costs within that range.<\/p>\n<p>An article in Panamaamerica.com.pa reports that &#8220;Extending the benefits of the Preferential Interest Law to the homes worth $120,000 is an opportunity that is being offered to the professional class in the country so that they can buy a home, according to the promoters\u2019 who explained that \u2018another benefit is that more projects can be built downtown which will generate more movement in the market.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>When I first came to Panama, I found that they had a great affordable housing program for the<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-4030","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Boost to Middle Class Housing in Panama - Blog and Newsletter<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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