Ralph Smith of FedSmith.com penned an article this week entitled “Are you Part of the Retirement Tsunami? Where Will You Retire?”. Smith points out that many U.S. retirees will be unable to afford the lifestyle that they had once envisioned. Many retirees are looking outside of the U.S., particularly to Panama, for a variety of reasons, including:- Mild weather
- Low taxes (no property taxes for 20 years)
- Affordable cost of living
- Affordable medical costs at world-renown hospitals like Johns Hopkins
- Affordable property
- Discounts on a variety of different goods and services
- English is widely spoken
Many have questioned the standard of living in Panama. The costs of living are lower and the country moves at a slower pace than that of the United States. Foreigners looking to retire or relocate to Panama should spend a few weeks in Panama before committing to living and should employ an attorney prior to property transactions. Interested in investment opportunities or land in Panama? Visit Panama-Land-for-Sale.com to see property listings and real estate for sale in Panama City and outer-lying areas. Click here for more information.
As environmental and “green” initiatives have taken center-stage, Panama is cashing in…..The Latin America Wind Energy Association (LAWEA) will be presenting their annual WIND EXPO in Panama September 2-4, 2009. This will be the second annual conference for the association. The conference will be held at the ATLAPA Convention Center.The first LAWEA conference was held in Guadalajara, Mexico and resulted in great success. The continuing goal of the organization is to promote Latin American Wind Power business.As wind power and environmentally-sustainable energy have gained popularity worldwide, WIND EXPO focuses on successful implementation strategies in order to integrate the energy into the mainstream. Experts in the field, leading companies within the sector, developers, manufacturers, government representatives and financial institutions and investors are expected to attend the conference. Speakers will identify areas for growth and development within the sector.Panama has begun to attract investors, environmentalists, entrepreneurs and retirees. Check out the reasons why at Panama-Land-for-Sale.com. Panama is one of few countries to offer significant business and land opportunities! Click here for more information.
The Examiner recently published an article about outer-lying areas of Panama, including the Panamanian beaches of the Isla Iguana Wildlife Refuge – also known as Iguana Island. Iguana Island, located on the Pacific Ocean, is about 200 miles southeast of Panama City. The island, which is over 140 acres in size, was declared a wildlife refuge in 1981. The area was used as a bombing practice site during WWII, and eventually a sole resident inhabited the island in 1960.Today, the area is home to beautiful white beaches and a variety of tropical animals including birds, hermit crabs, whales, sea turtles, and it’s namesake—the green iguana. The entry fees to Iguana Island range from $3-$5 per person, per day. Many people stay in Pedasi, about 5 hours outside of Panama City, which has many hotels, restaurants and shopping…..Interested in land in Panama? Visit Panama-Land-for-sale.com to see properties for sale in and around Panama City, Boquete and Portobelo. Real estate prices in Panama have fallen—now is the time to retire or relocate to Panama! Click here for more information.
According to the Association of Panama Realtors (API), in the first 5 months of the year, the demand for housing in Panama City fell 18%--good for buyers, and a temporary setback for owners……According to Panamanian real estate analysts, the decline in property prices is a temporary situation. The past few months have resulted in an oversupply of inventory with reduced prices for potential buyers. However, real estate experts predict that recovery will come toward the end of the year as world economies strengthen. Large-scale development projects, while conducting business at a slower pace, are still under construction. Additionally, there ahs been a rise in investors from Central American countries, including Venezuela, Ecuador, Costa Rica and Colombia. The latest real estate clientele in Panama are looking for economical apartments and hotel rooms, and maintenance and security are of primary concern. Experts claim that priorities and pricing will eventually level out….Interested in economical properties in Panama? Visit Panama-Land-for-Sale.com to see properties, land, condos, and businesses for sale in Panama City! Capitalize on the development in Panama—Click here for more information.
Local Panamanian realtors have commented that some of the large free-standing homes and mansions have been put up for sale in recent months. Such properties are a rarity, due to the fact that most of the larger homes and mansions are passed down from generation to generation. However, due to a slight slowing of the condo market, and Panama’s increased profile as a “travel and investment hotspot”, these properties are selling very quickly as international investors look to Panama as a tax haven. In Additional development news, this week, Hilton Garden Inn announced that it plans to enter the mid-priced Panamanian hotel market. The Hilton Garden Inn brand is one of fastest growing within the hotel chain. The new hotel will be a 17-story high rise on Calle Eusebio A. Morales and Calle Enrique Grenzier in the banking and commercial sector. The hotel has signed three multi-year agreements in Panama City--two management agreements and one franchise agreement.Interested in investing in Panama land? Visit Panama-land-for-sale.com to see properties and land for sale in Panama. Click here to view properties, businesses, and land listings in Panama.
Panama has gained international attention in the past few years, mostly due to economically-priced properties and a low cost of living…..According to La Estrella, Panama’s real estate properties have begun to decrease, for the first time since the boom over the past few years. Buyers have become attracted to Panama due to the cost and quality of living. Potential buyers may look to Panama right now to find significant deals. Although Panama has not felt the same effects as many countries suffering from the worldwide financial crisis, an estimated 99% of people have reduced the prices of their properties. Currently, properties are priced more realistically with the market. Luxury properties have declined within the city, but in the outerlying areas of Panama, prices have increased slightly. It is predicted that prices will level once demand increases, but investors Now is the time to buy in Panama! Visit Panama-Land-for-Sale.com to view listings in Panama. Click here to view Panama land, businesses, and condos for sale in Panama.
According to the Baltimore Sun, the Maryland Port Administration has reached an agreement with the Panama Canal to “promote use of an all-water route between the Pacific Ocean and the Port of Baltimore”.Announced on Monday, the Panama Canal Authority (ACP) and the Maryland Port Administration (MPA), signed a Memorandum of Understanding (MOU) to increase economic growth and commercial activity between the two ports.The two ports will share marketing, information and “best practices” that will encourage shippers to visit East Coast ports, including Baltimore, via an “All-Water Route” through the canal. This is expected to increase the amount of shipping from Asia. The Port of Baltimore is one of only two East Coast ports with a 50-foot channel to accommodate large freight vessels. The Panama Canal is currently doubling its capacity to increase traffic and accommodate large shipping vessels. The Canal’s widening is slated for completion in 2014.Advantages of relocating to Panama include: a tropical atmosphere and pleasant weather, a lower cost of living, and many discounts for retirees! Interested in Panama real estate or land? Visit Panama-Land-for-Sale.com to see land, residential and commercial properties in Panama. Click here for more information.
According to the Panama Canal Authority chief Alberto Aleman, the Panama Canal’s $5.25 billion expansion is “on time and on target” for completion in 5 years, indicating that the global recession is not causing delays. The Canal, which was approved by Panamanian voters in 2006, began in 2007. It is slated to for completion in 2014. The project entails the dredging of both the Pacific and Caribbean entrances to accommodate super-sized cargo ships and large freight tankers three times the size of current ships passing. The Canal will provide connectivity between the Pacific and Atlantic oceans that is expected to alter global shipping patterns. Additionally, the Canal will bring new development to Panama and other Central American countries. The locks will maintain a “water-saving basin”, which allows 60% of the water that fills the basins to be recycled. The project will employ a total of 5,000 construction workers.The Canal project will relocate thousands to Panama, and is expected to contribute greatly to Panama’s development. Interested in investing in Panama real estate? Visit Panama-Land-for-Sale.com to see properties and land, businesses, and residential real estate in Panama. Click here for more information.
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