Panama Real Estate For Sale
Real Estate in Panama is the new frontier of real estate in Latin America. There is a large variety of available options to investors from abroad. There are beach lots, islands and mountain homes in the cooler regions of the Chiriqui Province, as well as modern high rise condos in Panama City. A popular area for retirees is a small town in the mountainous called Boquete, which is in the western region of Panama. Housing prices vary based on the popularity, quality of development, and the broker and the buyer.
Unlike more popular retirement destinations worldwide, great deals are still available to people who wan to invest in Panama Real Estate. The cost of construction is considerabley more affordable than the United States and Europe but can vary depending on the quality of materials and the diligence of the construction company.
A very nice benefit due to the prozximity of the Panama Canal is that just about any material you could desire is available at reasonable prices. Ther are several agencies that offer real estate and retirement tours around Panama.
So you may be asking yourself why you should choose the coutnry of Panama? The economy is growing in excess of 5% annually. The Latin Business Chronicle is quoted as saying "Panama is set to grow more than any other country in Latin America"
Why is Panama growing? Panama is one of the fastest growing retirement destinations in the world: Many people say it just feels like home: There are more than 16,500 Americans living in Panama and English is widely spoken. Panama City is a modern city with impressive skyscrapers, highways, shopping centers, and medical facilities.
Panama City has a bustling infrastructure and is very cosmopolitan. The countryside and beaches are unspoiled. It is a technologically modern country, Panama offers broadband internet, great cell phone coverage, and Television with English channels.
There are no local taxes for residents on foreign earned income. There is no property tax for retirees unless a home is sold. There is a 20-year exoneration from taxes on new homes. Since Panama is a world shipping port, there are a plethora of imported items available at reasonable prices. Panama’s currency is the US Dollar. Panama is a world banking center. Foreigners can receive loans and do banking with a large variety of respected institutions.
Panama has a low crime rates, low employmen, thigh literacy, and a well-trained police force provide foreigns with a solid sense of safety. Panama is a melting pot. Shippers, traders, and sailors from all around the world have made Panama their home.
Of course the great weather. It has a warm yet diverse climate. The lowlands of Panama are hot and can be humid, yet there are year round cooler temperatures in the mountain areas. Panama boasts two coasts.. Bot the Caribbean and Pacific waters. You are able to swim in the Pacific and the Caribbean in the very same day, or you can cross your sailboat through the canal and explore both coastlines.