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Panama Restores the 20-Year Property Tax Exemption
In another effort to bolster an already booming real estate market the Panama Government has restored the 20-year property tax exemption on all new construction properties with building permits issued before Dec. 31, 2009. This will of course facilitate the sale of condos that are scheduled for construction that have as of yet not been started. Had this not been extended these newer condos would have marketing disadvantages due to the lack of the property tax exemption. Now we watch the real estate values climb again in Panama and wonder how high will it go?
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