Panama is hot: a world-class retirement haven that’s ripe for a profitable real estate investment
Posted On June 7, 2021
If you’ve followed any of the world’s top survey agencies that rate places for retirement, Panama has been at the top of the list for many years in a row. Therefore, if you are looking for a place outside the US borders to retire, Panama should be considered very seriously.
Panama has a lot going for it and even if you don’t plan to retire or live in Panama, Panama also has the highest ranking in real estate investment opportunities for those of you who want to earn money remotely. Here’s what some of the biggest players in the real estate market have to say about Panama: “Real estate in emerging and developed markets outside of the United States offers some of the best investment opportunities in the world right now.”
– Ricardo Griffin – the offshore guru at OMA. Ltd, international offshore consultants, located in Panama. “Global real estate will be the only major asset class that could generate double-digit returns in the next five years.”
– Barton Biggs, Chief Global Strategist and President of Morgan Stanley Investment, Pension and Investment Management “The good news in global real estate: it’s not just for the mega-rich anymore!”
– Lief Simon – Editor, International Living and Global Real Estate InvestorOne can invest in properties or buy a place to invest in any region of Panama, but for Expat World your money is in properties in Panama City. We have been there more than a couple of times and we personally rank Panama City among the top three metropolitan cities in the world where one can afford to live and enjoy a good life. Panama City has world-class restaurants, five-star hotels, international banks, hundreds of multinational companies, a Manhattan-style skyline, every luxury imaginable … all at about half the price you would pay in Miami. And it’s just a few minutes to a few hours from the beaches, mountains, and countryside of Panama. It has all the infrastructure one could wish for!
AT HAND and within walking distance of the romantic idea of paradise within walking distance, mind, beautiful landscapes. It has flowery, coffee-strewn hillsides and beautiful waterfalls … not to mention the best pensionado program (retirement program for foreigners) in the world. We will tell you more about that later. It is a real benefit for the retired expat, making their money stretch a lot. And we mean dollars, because the US dollar is the official currency of Panama.
PANAMA IS A BARGAIN
Since the US military and personnel withdrew from the Panama Canal (in 1999), thousands of houses and apartments have flooded the market. Abundant supply … limited demand. so the prices are cheap. You will find many bargains. There are bargains on the property, both for sale, for rent and for investment, that are readily available. You can find a luxury three-bedroom downtown apartment with a deck, private parking, a pool, the entire ball of wax in the $ 70- $ 80,000 range and most properties in this range have ocean views. EW discovered properties there that were smaller and a bit off the beaten path in the $ 25,000 to $ 40,000 range.
And if you are the repair type, you can find the proverbial robbery. You can own your own apartment or bungalow or some investment property by heading to Panama and hitting the streets and looking for the bargains OR you can use a firm that EW recommends to search for you and offer you the best deal on properties to live or real estate of real estate investment. More on that later, but first let’s continue with why we believe Panama is THE place for the best real estate shopping today. Panama is elite for its sheer natural beauty and, most importantly for many, for the privacy it offers. on a personal and personal level. Financial affairs combined with your excellent retirement program for foreigners!
: RETREAT IN PANAMA AS A PENSIONER AND SEE WHAT YOU GET
- 50% discount on entertainment anywhere in the country (movies, theaters. Concerts. Sporting events, etc.)
- 30% discount on bus, boat and train fares
- 25% discount on airline tickets
- 50% discount on hotel accommodation (Monday to Thursday)
- 30% discount in hotels from Friday to Sunday
- 25% discount in restaurants
- 15% discount in fast food restaurants
- 15% discount on hospital bills (if no insurance applies)
- 10% discount on prescription drugs
- 20% discount on medical consultations
- 15% discount on dental and eye exams
- 20% discount on technical and professional services
- 50% discount on mortgage loan closing costs
We have presented our image of “Why Panama?” To add to this, here are some reasons why international gurus think Panama is THE place:
- Foreign direct investment in Panama during the 5 years ended in 2001 was approximately $ 3.5 billion.
- The currency is the US dollar
- Low inflation
- Excellent tax benefits
- Strictly Enforced Laws of Secrecy
- Equal treatment of foreign and local citizens
- Favorable incorporation laws
- Large bilingual workforce
- Diverse economic base that includes banking, maritime transport, insurance, tourism and free trade zone
- Ranked 1st in the region for low cost of living by the Tripartite Committee
- Stable political system
- The Organization of American States (OAS), the Inter-American Development Bank (IDB) and the Economic Commission for Latin America and the Caribbean (ECLAC)
AND WHY THE CITY OF PANAMA AS A SPECIFIC AREA OF INVESTMENT
- It is at the convergence of two continents on the Bridge of the Americas.
- Qualified as the “most international city” in Latin America
- It is poised for tremendous growth in the next decade.
- It is within an hour of some of the best fishing and bird watching in the world.
- An hour’s drive from pristine beaches and cool mountain oases
- Located on the Pacific coast, yet it is only 45 minutes from the Caribbean.
- Growing number of expatriates
- One of the safest cities in the hemisphere
- Excellent infrastructure (internet, telephony, roads, water, etc.)