Panama Real Estate Blog

1. Cost of Living
2. Tropical Beauty/ Lifestyle
3. Real Estate Timing/ Investment
4. No Hurricanes or major destructive earthquakes
5. Great Weather
6. Political Stability and Low Crime Rate
7. Location…Location
8. International Class Healthcare
9. Panama has a 1st not 3rd World infrastructure
10. Panama “Welcomes and Wants You”

Cost of Living:Movie ticket- $4.00, Beverage- $.35, Fulltime Maid- $150 per month, Taxi- $1.50 and Housing costs like they were in the USA 20 years ago. Panama’s banking 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.

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

International retirement migration streams can affect the economies and communities of favored retirement destinations, sometimes profoundly so. Retirement abroad, much like tourism, can be a powerful form of direct foreign investment and thus contribute to development efforts in other countries. Retirees buy or rent homes, provide employment for local workers, consume goods and services, and may attract greater investments and more foreign visitors to retirement areas.

In recent years, a steadily growing stream of Americans has been heading south to Latin America for retirement. And as the baby boom generation ages, that stream is expected to gain speed. It will be carried along by Read more