Real Estate for Sale in Panama

Panama is the prosperous, democratic country joining North and South America. American retirees have been coming here in increasing numbers for about ten years taking advantage of the low prices of real estate for sale in Panama. Second home buyers have also found great deals in real estate for sale in Panama. Both groups have benefited by their investment as the real estate market in Panama has appreciated. Despite the increase in prices of real estate for sale in Panama property here is still priced below comparable real estate in the US, Europe, and the Caribbean islands. What Panama real estate for sale has to offer besides price is a chance to invest in the growing economy of Panama. Panama has the largest US investment per capita of all Latin American countries. Panama's infrastructure, its roads, ports, air ports, and telecommunications are far better than any other American country south of the US border. Since the US handed over control of the Panama Canal the international perception of Panama as a US colony has disappeared and a wave of international investment has arrived. Along with US investment these monies are fueling a dramatic economic expansion clearly visible in the number high rises in Panama City, improvement projects on Panama Bay and in new of the Panama Canal expansion. It is not just American retirees who are buying the real estate for sale in Panama. The streets of Panama are filled with skilled workers from other Latin American countries seeking work. According to reports in La Prensa the bulk of mortgage money in Panama is going to housing of less than $100,000. For retirees the attraction of real estate for sale in Panama does not stop at price or promise of their Panama property increasing in value year by year. Panama has attractive residency requirements. For example a pension of $500 a month plus $100 per dependent qualifies a retiree for residency as a "jubilado," pronounced hoo be LA doe, which is Spanish for retired person. Purchase of property worth over $200,000 will qualify the buyer for "person of means" residency. In each case renew every five years and live in paradise forever. If you are a "jubilado" and live in Panama take advantage of the same discounts that Panamanian retirees get. Prescription medications and doctor visits are discounted as well as the check at the restaurant and items on your grocery bill. You will pay less for your electric bill too. The banks even have a line for retirees. Where to Look for Real Estate for Sale in Panama Panama has two sea coasts, a central set of low mountains, and cities of which Panama City of a million or more people is the largest. Buy real estate for sale on the Pacific coast in Veraguas Province and enjoy world class sport fishing, scuba diving over coral reefs, and surfing some of the best waves on the Pacific coast of all the Americas. By the way Veraguas Province also has tame waves as well as lessons for beginners. Panama property in Panama City includes condos in the many high rises as well as offers for those under construction or in the planning phases. For a condo on the Pacific in Panama City look to pay $300,000 up to a million dollars depending upon living space and amenities. Panama real estate for sale in the Caribbean is a great deal in Colon on the Caribbean end of the Panama Canal up to Veraguas Province. Beach front acreage is available for $20,000 to investors looking to buy 80 acres and more. Bocas del Toro near Costa Rica is more developed but still has Panama beach front property for $40,000.