Why invest in Real Estate in Panama

"Panama is no longer one of the best kept secrets in the Americas"

By: Rolando A. Guevara Alvarado, Esq.

During the past years, many things have been told about real estate investments in Panama, but I cannot agree more with the issue that there has never been a better time to invest in real estate in Panama, now that the world is becoming increasingly aware of the business opportunities and real estate investments, as well as being the number one destination for tourists and a paradise for retirees.

A welcoming community, safe environment, low crime statistics, excellent incentives for retirees together with the natural beauty and ethnic diversity makes it appealing to the increasing trend of baby boomers from North America and Europe who are looking for a different option for retirement, thus fueling increased interest in real estate in Panama. One of the advantages of living in Panama is that the U.S Dollar, both paper and coins, is the official tender since 1904. With world-class medical healthcare, a stable economy and government, a location free from the path of tornados and hurricanes along with low property taxes, low prices and reasonable cost of living, today many are concluding that the Republic of Panama offers a terrific package.

With its privileged location, Panama is becoming a hub for maritime and air travel serving world trade, personal as well as a business trips, and has been scrambling to find its place in the 21 st century diversifying its economy beyond activities traditionally centered on the canal, such as its international banking center and the Colon Free Zone, the largest duty free zone in the Western Hemisphere and the second largest in the world after Hong Kong.

An inviting 20-year tax exemption on new buildings has resulted in a booming construction industry, where real estate market is experiencing significant growth and opportunities to the fine investor. Huge investments have been poured into Panama’s economy by foreign investors seeking increased returns and the most purchasing power from their dollars when buying condominiums in Panama City as well houses and condos at breathtaking beaches, lots and properties at the stunning beautiful highlands on the countryside.

Real estate prices in Panama are a fraction of the U.S. and Europe. Retirees receive discounts of everything, from taxes and utilities to world – class medical care. With all the increases in property value as a result of this new boom, Panama is still considered the most attractive and lowest cost-of-living country in the region, with many other advantages, comforts, sumptuous cuisine, lively nightlife, designer malls and colorful markets rather than those offered in other countries. Panama is really the paradise for quality lifestyle.

A whole range of apartments and condominiums are available for purchase to suit all types of budgets, most with ocean views, which make excellent investments for rentals thus, with very good returns, or potential future appreciation particularly along the Avenue Balboa to Punta Paitilla, Punta Pacífica to Costa del Este and the Coco del Mar area. Single family homes and condominiums are also available in attractive suburbs. The most recent announcement was the millionaire “Ocean Club” hotel and condominiums project of Donald Trump in Punta Pacífica.

But this boom in real estate does not end within the city limits. The wave has moved to the countryside and highlands where major residential development projects as the one of “Valle Escondido” in Boquete are gaining international popularity. Likewise occurs with the ongoing construction of beachfront resorts and other real estate projects which are pumping throughout the mainland and insular territory of Panama.

In the following page you will find the main reasons to live and invest in Panama.

Why invest in Real Estate in Panama

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