Thursday, April 30, 2009

Panama Land Prices to Grow Rapidly by August

According to a recent press release by Property Abroad, “Panama property prices will be growing rapidly again as early as this August”.

The site claims that because Panama has been less affected by the worldwide recession than other countries, there will be significant opportunity to be had. The Panamanian property market-thus far- has remained fluid due to American retirees.

According to a market analyst with Property Abroad, “Panama property is still selling at a steady rate to American retirees and lifestyle buyers. Prices have been largely unaffected by the global downturn, because there has hardly been a downturn. Around the world people are realizing that property investment opportunities still exist abroad”.

Europeans are attracted to Panama, due to better interest rates and returns. It is suggested that if the pound continues to strengthen, Panama will be even more desirable.

Properties in Panama start at under $100,000 US.

Interested in property in Panama? Visit to see land and properties for sale in and near Panama City, Boquete, Colon and Portobelo. Click here for more information.

Panama Election to Affect Taxes, Land, Growth

The Wall Street Journal reported this week that Ricardo Martinelli, who is the leading Presidential candidate at this time, has proposed a flat tax system if elected.

Flat tax is a system that uses a single, constant tax rate. Oftentimes, the system
is praised for eventually boosting the overall tax collection for a country. The flat tax rate would be between 12%-17% for individuals and 18%-22% for companies. Current corporate tax in Panama is 30% of profits. Panama would be the first Latin American nation to have a flat tax system, and Martinelli believes that the flat tax would “simplify the tax code because it will reduce the informal sector and tax evasion”, according to Frank De Lima, Martinelli’s head economic advisor.

Martinelli is an entrepreneur that owns supermarkets and other businesses. He served as Canal Minister in the early 2000s. Martinelli wants to run the Canal project like a private company and also wants to reduce the size of the government. Additionally, Martinelli wants to promote tourism within the country, claiming “We think we can make a big tourism hub in Panama where we have the Caribbean without hurricanes”.

Panama’s economy is expected to slow in 2009, but will still likely see growth of about 3%. Panama is also waiting for a Free Trade Agreement with the U.S. to be ratified by Congress. The Panamanian elections will be held on May 3rd, and Martinelli is leading his competitor, Balbina Herrera, by a 12% margin.

The new elections will have an impact on Panama’s growth and development. Interested in a flat tax system and relocating to Panama? Visit to view condos, businesses and land for sale in Panama!

Friday, April 24, 2009

Panama Changes w/ Election: Land, Real Estate for Sale Will be Affected

La Estrella reported this week about the many changes that are going on in Panama….

Panama real estate prices have recently been in free fall. Buyers, many from the U.S., are now seeking security to make Panama a first home, not a second home like in the past. Local Panamanian realtors claim that now is the time to buy in the Panama condo market.

Past markets in the last five years have been in the $200,000 and $400,000 range, due to the ability of buyers to get credit. The new market consists of wealthy individuals looking for a safe haven, and by result, making a second home the primary home. Condo prices are falling to half the price compared to a year ago, and Realtors are encouraging buyers to negotiate, as deals can be found anywhere.

The new government will also have impact on Panama’s future. As the new election will take place in May, Politicians are making promises for safer streets, better transportation, and will be attempting “zero corruption”.

Women are also beginning to challenge the “macho image” of Panama. Like many relocating from the US to Panama, Alberta Yan, a 21-year old former intern for Barack Obama, is leading the Global Business Brigade to team up with the women’s cooperative, Esperanza. The ultimate goal is to break the male-dominated hierarchy that exists in Panama. The groups hope to bring business skills to women and provide them the opportunity to work in Panama society.

There are many, many changes going on in Panama. Looking for real estate for sale in Panama? Our firm has condos, land plots, businesses and other real estate for sale in Panama City and outlying areas. Visit for more information.

Wednesday, April 22, 2009

U.S. Moving to Solidify Free Trade Agreement with Panama

Last weekend, U.S. President Barrack Obama, Panamanian President, Martin Torrijos, and Colombian President, Alvaro Uribe, attended the Summit of the Americas in Trinidad and Tobago. Among the topics at the summit were free trade deals with Panama and Colombia.

Currently, free-trade deals (FTAs) between the countries have been stalled in Congress. The U.S. Trade Representative, Ron Kirk, a former Dallas mayor, has stated that the U.S. is “working in good faith” to finalize these deals, and claimed that the weekend was “a very productive summit for the U.S.”.

The summit also addressed NAFTA, the North American Free Trade Agreement, as Obama has blamed loss of jobs on the current NAFTA agreement between the U.S., Canada and Mexico. The U.S. is “seeking opportunities to strengthen” its trade relationships with other countries, including long-term Free Trade Agreements with both Panama and Colombia.

The proposed FTA with Panama is of particular importance, as the Panamanian presidential election will take place in May. Trade Rep Kirk claims that the election “may provide a window to move more forcefully”. Panamanian officials want the FTA approved before the new president comes into office.

A delegate from Panama will visit Washington D.C. this week to resolve disputes over the US-Panama trade deal. Among the issues to be addressed are labor laws and tax laws. The U.S. will address concerns including internationally recognized worker rights and discussions about Panama as a tax haven.

An FTA with the U.S. would further enhance the growth and development in Panama. Interested in investing, moving to, or retiring in Panama? Visit for more information about our properties, land, condos, and businesses for sale in Panama, Boquete, and Portobelo. Click here for more information.

Thursday, April 16, 2009

Investing in Panama - Tips for Entrepreneurs

Matt Landau’s Panama Report published an article last week about the 7 Steps to Panama Entrepreneurship.

Panama is a financially appealing country, as the recession takes its toll globally. Panama offers an increased quality of life and “the timing is still good for new business ideas”. There are payoffs for developing in Panama and there is a significant opportunity to make money. However, one must engage in the local culture to succeed. The Panama Report gives the following 7 tips for the incoming entrepreneur.

1. Find good local contacts.
2. Learn about immigration status and work visas.
3. Work harder than your competition.
4. Execute a unique business plan and keep costs low.
5. Socialize, travel and stay busy.
6. Utilize the unique nature of Panama’s landscape for work and to alleviate stress.
7. Use trial and error to build the perfect staff.

Click here to read the entire article.

Interested in investing in Panama? Visit to see businesses, condos and land for sale in Panama! We have properties in Panama City and outer-lying areas near Boquete and Portobelo! Click here to view our properties.

Monday, April 13, 2009

Panama to Support Entrepreneurship, Land Development

The Panama Star reported this week that a new guidebook has been released by Citi Foundation and the National Competitiveness Center CNC (Centro Nacional de Competitividad).

According to Tourism Ministry head, Ruben Blades, the group has worked to create a national framework for development and to build an “entrepreneurial culture”, create jobs and teach entrepreneurs how to operate a business in Panama. “The Guide for the Establishment of Tourist Micro-enterprises in Panama” will give new entrepreneurs an overview of Panama’s tourism and will also identify tourist locations for new businesses and feature the types of businesses in demand in Panama. Additionally, the guide offers technical and financial support suggestions as well as instructions how to develop a business plan.

The free guide will be distributed throughout 39 communities including: Colon, Tole, Portobelo and Ocu. Blades claimed “This guidebook is essential, it contributes to develop a tourism strategy…We need to educate people, remove their shyness to keep them from doubting they can be entrepreneurs”. The CEO of Citi Panama, Marcelo Gorrini stated “The Citi Foundation invests $200 million globally on micro-enterprises, and the guidebook initiative comes from Citi’s awareness of the role that micro-enterprises play in Panama”. As of today, Monday, April 13th, the guidebook is available online at

Interested in investing in Panama? Check out our land development deals at We have land deals, condos and businesses for sale in Panama!

Wednesday, April 8, 2009

Commercial Property Next Investment in Panama?

Panama’s real estate market has seen many ups in recent years. The country has braced for real estate to be affected by the U.S. recession and has instead begun to court foreign investors.

Currently, the Panama Canal expansion represents a quarter of the country’s GDP. The $5.2 billion project, which is widening the Canal to accommodate larger cargo ships through the waterway, is expected to increase overall global trade. Along with the 7,000 jobs that the expansion has created, have been high-priced condominiums and an upward trend in the economy.

Because of the privatization of telecommunications and electricity privatization in recent years, there has been significant growth in business sectors over the past five years.

An April 7th article by Real Estate News & Information, stated that there is “A New Option for Real Estate in Panama”, claiming that “commercial office space in Panama is now passing its premium time”. It is expected that foreign investment will increase over the next five years, and with incentives to relocating companies, commercial real estate prices will go up. The source predicts that properties for warehouses and call centers will provide long-term value. Click here to read about Panama real estate futures.

Interested in a property in Panama? Visit to see land and other real estate listed for sale. Use our site as a resource for moving or relocating to Panama…Click here for more information.

Monday, April 6, 2009

Panama Development to Recruit International Companies

Panama is making the move to attract multinationals in 2009….

Panama’s Law 41 was designed in order to encourage international companies to use Panama as an international business hub. Among the benefits are tax incentives and visa assistance that encourage foreign investment in the country. Additionally, the country’s central location, a stable economy, international banking benefits, and an elaborate telecommunications infrastructure boast business advantages for companies.

Law 41 was enacted in August of 2007 as a joint effort between the private sector and government agencies. As a result of promotion and international marketing campaigns, over 17 global businesses have moved to Panama, including Procter and Gamble, Caterpillar, Roche, Merck, Peugeot, Hyundai Heavy Industries, and Western Union.

The Panamanian Ministry of Commerce and Industry (MICI) claims that Law 41, since enacted, has provided over 500 new jobs to the country. The country expects an additional 25 countries to move operations to Panama.

The country is optimistic as the U.S. recession affects countries around the world. Those companies interested in taking advantage of Law 41 must have fixed assets worth at least $200 million and must present financial statements, bank references and insurance policies before taking advantage of the perks.

Looking to relocate to Panama or invest in real estate? Visit to see land, condos, and businesses for sale in Panama City, Panama! Click here for more information about buying land in Panama…

Friday, April 3, 2009

More Development on the Rise in Panama....

Panama’s other project – besides the Panama Canal – is the Bridge of Life Museum….

The Bridge of Life Museum is planned as a space to showcase natural biodiversity. Panama is actually the perfect location for such a project, due to the fact that it is located between two oceans, contains thousands of species of wildlife, and has diverse environments and climate.

The iconic, futuristic building for Panama City.being developed by a world-class team of designers. It is currently under construction in the area around the Amador Causeway area, near Panama Bay. The area is being described as a park-like setting and an “easy-to-visit space” that will be visible from cruise ships passing through the Panama Canal.

The museum has been designed by famed architect Frank Gehry. Gehry, who’s wife is Panamanian, also designed the Guggenheim in Bilbao, which added to the city’s significance on the worldwide “culture map”. The landscaping has been designed by world-renown landscape designer, Edwina von Gal, and the interactive exhibits have been developed by Bruce Mau.

Interested in the development in Panama? Visit to see land, businesses, and other real estate for sale in and outside of Panama City. Click here to visit our site.

Wednesday, April 1, 2009

Panama is Where Men Would Most Like to Live

Panama City, Panama has been named as one of ’29 Cities Where Men Would Most Like to Live’.

A new global list of 29 cities where men would most like to live was published by Panama City, along with Buenos Aires and Santiago, were the leading cities in Central America. took the following criteria into consideration:
  • Livability
  • sports and entertainment
  • culture
  • fashion
  • sex and dating
  • health
  • power and money
  • good life
  • unemployment rate
  • income growth
  • ratio of women to men
  • cost of a pint of beer
  • rate of male heart disease
According to the editor-in-chief, James Bassil, cities such as Panama City are places where “the cost of living is low and there is cool development”. Recently Panama’s growth has been paralleled with Dubai, as it is an international business center, with the fastest growing economy in Central America.

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