The National Government is coordinating with the banking sector and developers to regulate the new law on preferential interest rates. This scheme aims to ensure state subsidies that will reduce monthly mortgage payments. Based on the property value and its regional location, this system allows for a significant reduction in the monthly installments that home buyers must pay. Stimulus for the construction sector The preferential interest rates law seeks to promote the construction industry and bring stability to the banking system. The head of Miviot stated that the regulation provides greater certainty to Panamanians and motivates developers to invest in new projects launched this year, even though construction cycles typically take between 18 and 24 months. As a complement to this initiative, the State will invest 11 billion balboas in social infrastructure this year. This investment is aimed at ensuring that new housing projects have roads, aqueducts, health services, and education for all beneficiary families.
