The Program of Help to the Consumer (PAC in Spanish) is currently in Congress waiting to be approved. Preferential rates are a subsidiary which the government gives in order to lower interest rates for primary residencies which are valued up to $62,500. Under the new law this amount will be raised to $80,000.

(Town Plaza in Penonome - Panama - you can find many preferential interest properties in the interior of the country)

The Government promises to subsidize 100% of the interest rates of mortgages up to $30,000. Both norms will be in effect until 2014.

“The current preferential rates expirer in May of 2009 and we decided to extend them for 5 more years” commented the Hector Alexander – spokesperson for the Ministry of Economy and Finances during a conference to the congressmen. This project will cost the government approximately $200.8 million in the next 6 years, starting with $10.3 million in 2009 and closing with $54.2 million in 2014.

The National Council of Hosing Promoters (CONVIVIENDA) evaluates positively the decision of the government.

82% of mortgages awarded in Panama pay preferential rates and this government help has favored 101,098 families since 1990 and 2006.

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