Panama Real Estate Blog

BOQUETE, PANAMA — New Zealand was too far, the south of France too cold and Colombia too unsafe for Casey and Susan Koehler. So the former Floridians settled quite happily on this mild and isolated coffee-growing town in western Panama for their retirement home. 

A former U.S. government official, Koehler had the bucks to spend his golden years anywhere in the world. That he and his wife chose this hilly, horsy town of 20,000 over their three other “finalist” destinations speaks volumes about Panama’s growing attraction to American retirees. Read more

With millions of Americans and Canadian baby boomers just a bank CD or two away from retirement, the race to find low-cost retirement destinations is off and running.  That’s particularly true in Mexico and Central America, where many prospective expat gringos see the potential of stretching their dollars and living better for less than is possible back home, yet being within two to four hours by jet from their old home towns.

While there are many exciting choices south of the border, two contenders in that race, Corozal in Northern Belize and Boquete in Panama, are already attracting a lot of lookers and an increasing number of buyers.

These two small towns, both boasting a high quality of life and low cost of living, are worth looking at closely to see how they really compare in key areas of interest to relocating expats and prospective retirees, such as daily living costs, real estate prices, the cost of home building, acceptance of foreigners by local residents and overall appeal.

In looking at the Corozal and Boquete areas, retirees and other expats have to make a choice between Read more

HAVANA, Sept 16 (Reuters) - Panama’s economy will grow more than 6 percent in 2007, the country’s president said on Saturday, predicting healthy showings from the port sector, tourism, telecommunications and the free-trade zone.

Panama’s gross domestic product grew 6.4 percent in 2005 and official forecasts for this year are between 7.5 and 8 percent.

“We have not finished calculating the figures but there is going to be sustainable economic growth of above 6 percent,” Martin Torrijos told Reuters on the sidelines of the summit of Non-Aligned nations.

Panama is one of Latin America’s fastest-growing economies, spurred by increased canal traffic, a booming construction sector, buoyant banks and increased exports of tropical fruit.

The economy grew 7.9 percent in the first half of 2006.

Panama is staking further strong economic growth on an expansion of its canal, a subject on which the Central American state plans to hold a referendum.

© Reuters 2006. All Rights Reserved.

Memories of the society which inhabited Panama City’s Old Quarter when the Republic was young seem still to haunt the narrow streets where, perhaps, spirits of the past are anxious to regain the lost elegance of the early days of the last century. There, in the district of San Felipe or Casco Viejo, lived the illustrious founders of the nation and their families, men such as: Don José Agustin Arango, Dr. Manuel Amador Guerrero, the first president of Panama, Don Constantino Arosemena, Don Nicanor de Obarrio, Don Ricardo Arias, Don Federico Boyd, Don Tomás Arias y Don Manuel Espinosa Batista. Nobody needed an “address” in the Casco Viejo of yesterday. Everybody knew where everybody lived.

Some of the old and well-loved houses of these families are still habitable but sadly affected by the passage of the years. The families formed a close–knit group which met frequently, giving each other a respectful and friendly greeting when they promenaded in the evenings in Independence Plaza, or Cathedral Plaza as it is better known nowadays, or at the famous concerts of the Republican Band which enlivened the square on Sundays and during Read more

Media sources from Modern Maturity to Conde Nast have given Panama high ranking as a spot for retirement and/or second homes. Panama has almost everything: rain forests, a diverse eco-system, pristine beaches, fertile farmland, highlands with mild climate, intact indigenous cultures and a world-class capital.

Panama wants to attract residents and businesses, and is working hard to do it. One way is by cutting the red tape. Requirements for the pensionada visa are minimal. You only need to prove that you have good health, no criminal record and an income of $500 per month ($100 additional for each dependent). If you buy a home for $200,000 or more, no matter your age, you can get a residency visa.
If you prefer, you can buy a home and enjoy many privileges on just a tourist visa, which can be renewed for up to 90 days. At the end of 90 days, you make a brief trip out of the country then return. Some expats do this for years.

The pensionada program lets you bring Read more

Latin America’s real estate sector is booming, thanks in large part to a growing number of US retirees buying homes. Panama, Mexico and Costa Rica are leading the way, but also Argentina is seeing a boom.

Donald Trump is busy these days. Apart from running his real estate empire and planning another reality TV show, he is preparing to develop a 62-story hotel and apartment tower in Panama City, Panama.

The planned Trump Ocean Club International Hotel and Tower will feature more than 300 hotel rooms and 500 luxury apartments as well as a casino, yacht club and its own private beach.

But Trump isn’t the only one developing highrise towers in Panama. “In Panama City there
are new skyscrapers going up all over,” says Robert Baker, president of the American Chamber of Commerce in Panama.

Panama is seeing unprecedent interest from U.S. retirees, partly as
a result of Read more