Panama Real Estate - A Realistic Approach

The increase of those investing and retiring to Panama has been stimulated by the number of Brits and North Americans that are attracted to the cost and quality of living. As the global recession becomes even more far-reaching, there are a number of international citizens that are now considering buying properties in Panama.

Panama continues to expect economic growth in 2009, much in part due to the $5 billion Panama Canal expansion, of which has made Panama an “economic powerhouse” for the past 5 years.

Here are some advantages, disadvantages and pieces of advice before moving or relocating to Panama:

ADVANTAGES:

• Panama offers both Pacific Ocean and Caribbean Ocean Properties
• There are lower-priced condos with Beach and mountain-views
• No legal restrictions for foreigners buying property: property is either “titled” or “right of possession” real estate
• A current Buyers market
• Mortgage brokers and banks willing to deal with international citizens

RISKS:

• Buying in Panama is different from buying in the UK or US
• Buyers should make themselves familiar with the area (topography, seasons, etc.)

ADVICE:

• Choose a lawyer that has relocated to Panama and ask for the total upfront cost
• Have documents translated from Spanish by an independent party

Interested in relocating or moving to Panama? Visit Panama-Land-for-Sale.com to see the land, condos and businesses for sale in Panama. Use our site as a resource to find property and learn about living in and outside Panama City, Panama!