Why the Talk about Panama Real Estate?

From news reports to travel magazines, there has been a lot of buzz lately about real estate in Panama, South America. More and more Americans are choosing Panama not just as a travel destination, but as a second home or retirement destination. Not the typical Latin American country, Panama boasts excellent medical care, modern roads, and a communication infrastructure comparable to that of the United States while maintaining a lower cost of living. Here we examine some of the reasons Panama real estate is on the rise, and increasingly chosen as the ideal setting by Americans looking to invest in a vacation or permanent home.

A significant contributor to Panama’s popularity as a site for real estate development is its stable economy. The U.S. dollar has been the legal tender of Panama for over one hundred years, though in Panama you will hear the dollar called the Balboa. The use of U.S. currency eliminates the hassle and risk associated with currency exchange for Americans, and gives them a convenient and comfortable means of purchasing goods and services in Panama. The famous Panama Canal is a mainstay in world commerce, and provides the country of Panama with worldly status, steady revenue and jobs for its people. The consistent flow of revenue generated by the canal gives the Panama economy stability even during times of uncertainty in other parts of Latin America. With a multibillion dollar expansion of the canal planned in coming years, the strength of Panama’s economy is not expected to decline anytime soon.

Panama has numerous programs in place to encourage investments in real estate by foreigners. Foreign Panama real estate investors are given the same rights and protection as native investors in Panama under the Investment Stability Law, and tax benefits are available for new investments by foreigners. Special discounts and other incentives are given to foreign retirees who relocate to Panama. Additionally, Panama does not collect taxes from residents on foreign earned income.

Aside from its economic and legal benefits, Panama is a beautiful, natural paradise that has enticed many travelers to make the permanent move to Panama for years. From a city condominium in the midst of the bustle to a serene, remote beach property or getaway in the mountains, Panama offers variety of affordable real estate options to suit all personalities and lifestyles. The experience of one visit to Panama is enough to understand firsthand why so many people continue to visit, move to and invest in Panama.

About the Author: Laurie Cooper, of Cpanama Real Estate Corp., is an expert on Panama real estate. For more information, please visit http://www.cpanama.com

Panama: The New Destination for American Retirees

To Americans, the beautiful sandy beaches and relaxing golf resorts that stretch over all parts of Florida have grown to be practically synonymous with retirement over the past few decades. But today, as more and more retirees are exploring alternative retirement destinations, many are discovering the beauty and opportunity that lie in the flourishing South American country of Panama. The low cost of living, contemporary infrastructure, affordable Panama real estate and stable economy make Panama a desirable destination for retiring Americans. Gracious and welcoming Panamanian people and the use of the U.S. dollar for currency make Panama a natural choice for American retirees seeking a truly unique yet inviting home away from home.

The low cost of living in Panama as compared to that in most parts of the United States makes this thriving country an especially attractive destination for retirees. American retirees are able to uphold a higher standard of living in Panama than they would with the same resources in the United States. The costs of housing construction, food and groceries, medical expenses and transportation are generally lower across the board in Panama. The U.S. dollar goes noticeably further in Panama than in the states, but Panama also offers special incentives for retirees that make living in the country even more affordable. Retirees are eligible for perks including widespread discounts, property tax incentives and tax free importing of household goods and vehicles.

Panama offers most modern conveniences to which retiring Americans are generally accustomed. Internet, cable television and cellular phone access are available in most places. The quality of shopping is also highly regarded in Panama, and most U.S. good are available. Banking and medical care are also modernized. Panama has one of the most stable economies in Latin America, and the Panama Canal generates a consistent stream of revenue for the country. With a multibillion dollar canal expansion that will bring more jobs to the area planned in coming years, the economy is showing no signs of slowing anytime soon.

One cannot discuss retirement in Panama without pointing out the manifest natural beauty all over that makes so many people fall in love with the country in the first place. Cool mountain climates, pristine beaches and lush vegetation abound in Panama. Panama has a suitable environment for every type of retiree, from city dwellers seeking a downtown condo in the center of activity to those seeking a beach escape from everything and everyone.

About the Author: Laurie Cooper, of Cpanama Real Estate Corp., is an expert on Panama real estate. For more information, please visit http://www.cpanama.com

Bocas Del Toro – Isla Colon

Though there are many islands in the Caribbean Sea, Isla Colon in the Bocas Del Toro province of Panama stands out among the rest. Bocas Del Toro is home to some of the most beautiful beaches and corals in the Caribbean. What’s not to love about an island where you can ride a bike from one end to the other, surf some of the best waves in Panama and dance the night away at one of the local bars? This beautiful island offers endless activity to satisfy any personality. The streets are lined with happy hour specials, guided boat tours and children running around with no worries.

Unlike many other parts of Panama, Isla Colon has not become inundated with enormous buildings that distract from the beauty of the landscape. There are no 75 story sky scrapers blocking the view of the clear blue waters of the Caribbean, making for a nice view any time of the day. Development is not burgeoning on the island as it is in many other areas; rather there is only a two story hotel or a new mini supermarket being built here and there. Development may be minimal due to much of the island being occupied by rugged rainforest and lush green grass, or possibly because the roads leading to some of the best beaches on the island are not smooth two lane highways. Whatever the reason, Bocas Del Toro has escaped the Panama real estate boom that is consuming the rest of Panama. On the other hand, there is plenty of property that could be developed and no substantial reasons not to invest in Isla Colon or one of the many other islands in the Bocas region. The minor challenges that do confront developers can be overcome, such as rough roads and environmentalist movements to prevent development of the rainforest. Nature friendly precautions to preserve land being developed is just one of the innovative ideas being implemented by the real estate industry to protect the environment.

Not only does Isla Colon offer an appealing balance between modernization and untouched nature, but the services on Isla Colon are first rate. You can enjoy a tasty meal and a refreshing cocktail as you look out over the Caribbean, or take a guided tour through the rest of the region and explore the beauty the island has to offer. There is a good selection of modern hotels on the main island and plenty of stores offering just about anything you would need to live on the island. Not as remote as the San Blas islands where the Kuna Indians live yet not as busy as Panama City, the island is a perfect escape from the rest of the world. Once real estate in the area begins to catch on as it has in the rest of Panama, luxurious resorts will begin to dot the landscape and the area will experience a thriving economy as the rest of Panama has.

About the Author: Laurie Cooper, of Cpanama Real Estate Corp., is an expert on Panama real estate. For more information, please visit http://www.cpanama.com

The Unique People of Panama

From the first moment you step off the plane upon landing in Panama, you will feel as welcome as if you were at home. This is not because of the tall buildings of Panama City, the exotic beaches or the humid tropical weather, but because the people that you will encounter and get to know during your stay will be some of the nicest and most welcoming people you could ever meet.

Most foreigners who are planning a visit to Panama think that they are coming to a typical Central American, Spanish speaking country. While this is partly true, there is much more to be said about the people and culture of Panama. Panamanians love their country with a true passion, and many are willing to share that love with anybody willing to listen. The people of Panama represent all different backgrounds and nationalities, but in this small yet spread out country they have managed to develop a society of great importance to the rest of the world. Panama exemplifies how people from different backgrounds and pasts can live peacefully together in a unified community. Homeless people, wealthy people, middle class working people and everything in between coexist in Panama. One major difference noticed between Panamanians and the rest of the world is that Panamanians do what they have to do to survive without complaint, with the mentality that if they work hard, the rest will take care of itself. The people of Panama work to live rather than live to work, so that they have money to get by but know that family and happiness make up a more important part of life.

Even if none of Panama’s sites remind you of home, the people will make you feel right at home. Walking along the streets of Panama, you can find families playing in parks, elderly men reading the newspaper while talking about how to solve the world’s problems and women offering to sell you their handmade goods. Panama’s people are unique, and only want the best for their country and everyone in it. Once you visit Panama, you may not want to leave. The Panamanian people, accompanied by the beautiful scenery and a booming economy, will soon make Panama one of the top destinations to visit on the planet.

About the Author: Laurie Cooper, of Cpanama Real Estate Corp., is an expert on Panama real estate. For more information, please visit http://www.cpanama.com

The Marvel of the Panama Canal

From the air, it looks like any other river in Panama. From a boat, it still looks like any other river in Panama, but taking a trip through the Panama Canal is not just any other trip. The landmark that put Panama on the map was constructed and ready for operation in 1914. The French began the massive project in the late 1800s, and turned it over to the Americans sometime later because of the high death toll plaguing the Frenchmen. This transition brought a large American populace and its influence to Panama, which became home to all of the Canal workers. Upon completion of the Canal, the Americans maintained control of the Canal and continued to have a major influence in Panama. Although the Canal is now run by the country of Panama, there is still a large American presence felt in Panama, with many of the restaurants and businesses having American roots and a great portion of the Panamanian society speaking at least some English.

Cruising through the Panama Canal on a ten passenger motor boat is an experience one would not want to miss while visiting Panama. If you are lucky enough to cruise by one of the large vessels transiting the canal, you will be awed at the size of these floating warehouses. These ship passing through the canal are inexplicably enormous, but are not even the largest ones roaming the blue seas; the “big” vessels are still required to trek the extra several thousand miles around the southern tip of the Americas due to size limitations of the canal. The increasing size of ocean vessels has brought about a plan for an expansion of the Canal which will double its capacity, so that these bigger ships can take advantage of its intended purpose as do their smaller companions. This 6.2 billion dollar expansion project is estimated to take a full 20 years to complete, but will bring Panama a hefty increase in revenues once completed. The payoff to Panama once the expansion is complete will make the project well worth the wait and laborious effort put in by the Canal workers.

The most unique feature of the Canal that is not talked about very often is the fact that it is freshwater floating these boats across the tiny Isthmus of Panama. The man made Lake Gatun and the Canal connecting the Atlantic to the Pacific are filled with freshwater by rainfall and runoff from the rainforests lining the banks of the Canal. The international combination of people and products that travel through the Canal each year ensure Panama a consistent income to support its budding economy. The toll to transit the Canal and its locks is quite inexpensive for a small tourist boat and will leave you fascinated at this incredible creation found in the tiny country of Panama.

About the Author: Laurie Cooper, of Cpanama Real Estate Corp., is an expert on Panama real estate. For more information, please visit http://www.cpanama.com