Writer says Panama is a good buy

PANAMÁ. Now is a good time to buy property in Latin American countries such as Panama says a real estate writer in Canada.

Writing in the Vancouver Sun, Tom Kelly, a US-based author of two books on buying real estate in the region, said that Panama "is a bargain right now," although he added that "it costs money to get there".

Mr Kelly was aiming his remarks at Canadian buyers on the basis that the country has been hit less hard by the recession than the US.

However, in comments that may be relevant to UK buyers as well, he suggested that the best time to get bargains is while the US is in the doldrums, as prices in Latin America will rise when it recovers and more people from the country are able to buy overseas.

Earlier this month, founder of US developer Amble Resorts Ben Loomis remarked that the "growth and stability" of Panama makes it attractive for investors. He also noted the country’s strength is due in large part to the canal.