Panama City is one of the world’s least expensive first-world cities. It is also among the most modern and prosperous cities in Latin America with over 3 million people. The city’s array of tall skyscrapers is reminiscent of Miami. It boasts incredible shopping where almost any product from the U.S. may be easily found. During the past several years Panama has been consistently rated in the top ten for the best retirement locations worldwide. All appeal to the increasing number of baby boomers from North America and Europe who are looking for a different option for retirement together with the natural beauty and ethnic diversity a safe environment, welcoming community, excellent incentives for retirees, low crime statistics, that is Panama. Now is the time to invest in Panama Real Estate.
Economic climate
To invest in Panama the trend towards possible trade pacts with such nations as the U.S. and Mexico and an open economy are conducive. As in many Latin American countries, there is also no government expropriation or interference. Foreign investment is encouraged by a business-oriented government. A government backs all investment as it realizes the value of a private business to a developing country. In 1946 the creation of the Colon Duty-Free Zone was the result of Panama’s business-oriented mentality. After Hong Kong, it was considered to be the second-largest free-trade center in the world. In addition, many attractive incentives such as legal residency and tax privileges are offered by the Panamanian government to foreigners who invest in Panama.
Why retire in Panama: For foreign retirees or pensioners, Panama has the best incentive program in the world. In fact, anyone over the age of 18 may be able to qualify for a pension in Panama if he applies.
Popular investment areas:
With rising buildings overlooking the ocean and the Bay of Panama, there are many fantastic real estate opportunities in Panama. So, Panama City has become a cosmopolitan modern metropolis. A good range of apartments and condominiums are offered for sale in exclusive residential areas like Marbella, Paitilla, Coco del Mar, David, Punta Pacifica, and San Francisco. Large and attractive single-family homes and condominiums are offered in the Suburban residential areas in the former Canal Zone like Amador Heights, Balboa, Albrook, and Clayton.
For real estate investment Casco Viejo – the oldest city on the Pacific Coast of the Americas – has become a desirable place. For the restoration of the historic Casco Viejo district, it is encouraged by the Panamanian government Casco Viejo investment incentives.
Located in popular destinations including, Chiriquí, El Valle, and Alto’s de Maria, there are beautiful real estate properties for sale in Panama. Real estate in the highlands of Panama is ideal for those interested in retiring abroad as it’s known mostly for their cooler climates, incredible flora, and quiet peaceful atmosphere.
For Panama real estate Bocas Del Toro is another popular destination. Most known for its laidback tropical atmosphere, unique over-the-water architecture, rich Antillean culture, and crystal clear waters. In recent times, for European and American Expats as well as an impressive number of tourists Bocas Del Toro has become a booming center.
As interest and growth increases so do the real estate values in Panama and primarily in these Pacific Coast Beach areas has been appreciating very steadily.
