Retirees Investing in Panama for Many Reasons...

The Panama Report published a segment this week that validated further claims regarding the benefits of retiring in Panama.

Panama has seen an influx of “middle-aged foreigners” looking to retire in the country, due to the worldwide recession. 

Panama offers advantages of: cheap living, low taxes (by all standards), a low cost of living, a favorable climate, and low medical costs.  Additionally, Panama does not tax income from other countries and allows property tax exemptions for 20 years.  Panama has boomed in areas of banking, real estate, tourism, and other entrepreneurial enterprises, as the country’s “pro-business” mentality has extended globally.  Now, professionals and retirees alike are flocking to this very diverse and international area. 

It should be noted that Panama offers many advantages, but is for easy-going people.  Among the challenges in retiring to Panama: the slower pace of life is not for everyone, and Spanish is the official language (however, English is widely spoken).

Interested in investing in Panama?  Visit Panama-land-for-sale.com to view properties and real estate for sale in and outside of Panama City!  Click here for more information.

STRI to Highlight Panama Land, Culture, History

The Smithsonian Tropical Research Institute (STRI) has announced a series of programs and educational endeavors through 2010.  Entitled “Panama at the Smithsonian”, the exhibitions will highlight Panamanian culture and its development and history, including its impact on the U.S.

The new exhibitions began in April with a free concert.  From October 5, 2009 through May 31, 2010, STRI will exhibit “Panamanian Passages”, an interactive display featuring live flora and fauna, a tribute to Panama’s natural history, and educational tours that focus on how modern-day Panama came to be. 

Panama’s biodiversity has attracted scientists since 1910, and the Smithsonian Tropical Research Institute was founded in 1923 as a biological reserve that is devoted to ecological studies.  The STRI has been operated by the American Smithsonian Institution since 1946.  The Institute is famous for the use of two cranes that were erected in 1990 and 1997 for three-dimensional access for studies.  The cranes are located at both ends of the Panama Canal.  The STRI contributes to studies for new drugs, the global climate, species, and ecosystems.

Relocating or moving to Panama?  Visit Panama-Land-for-Sale.com to see properties and real estate for sale in Panama City and surrounding cities.  Click here for more information.

Economical Advantages for Retirees in Panama

Jacksonville.com published an article last week with the title of “Panama: Land of Mountains, Oceans, Scotch and Cheap Beer”.

The article taps into some of the smaller differences that exist in Panama like $3 six-packs of beer, cheap taxis and transportation, inexpensive healthcare, and widely-available high-speed Internet throughout the country. 

Panama has developed a very international tourist industry in recent years.  The area has been highly “Americanized”, with wide use of the U.S. dollar.  Additionally, the country offers cheap drinks, an upbeat nightlife, and a relaxed atmosphere.  Residents and those who have relocated to the area are offered many daily non-stop flights from major U.S. cities, Europe and Canada.  There is also a low crime rate and a strong banking system – with the most stable economy in Latin America. 

• Retiree advantages, if able to obtain a visa by proving $500 income per month, include:
  
• up to 50% off of entertainment expenses
  
• up to 25% off at restaurants
  
• 30% discount on transportation – bus, boat, train
  
• 25% discount on airline tickets
  
• 10% off of prescriptions
  
• 15% off of healthcare visits
  
• 50% off of real estate closing costs
  

Additionally, Panama does not tax offshore income, making the location truly an economical paradise.

Panama is the new Miami….Interested in investing in Panama? Visit Panama-Land-for-Sale.com to see properties, real estate and businesses for sale in and around Panama City!  Click here for more information.

Panamanian Real Estate Boosted by Retirees...

Today, La Estrella ran an article, “Panama, the new Florida”. 

Panama is growing drastically, gaining popularity among retirees that are attracted to the affordable cost of living.  The article cites a couple that had a $3 million budget for a place in Miami now has a 3,000 square ft, oceanfront penthouse in Panama City.  

The Migration Policy Institute, which monitors the world’s population movement, has tracked an influx of retirees and expats to Panama.  Those relocating to the country are drawn to the fact that the dollar goes farther.  There is no taxation on foreign income, no property tax for 20 years, and great weather.  The country has a “pensioner program” that offers severe discounts for retirees and there is quality healthcare at low costs – from economical doctor’s visits to in-home care.

Those considering moving to Panama are forced to recognize that the country operates at a slower pace than most, but the advantages far outweigh the inconveniences…..

Interested in investing in Panama?  Visit Panama-Land-for-Sale to view Panamanian real estate in and outside of Panama City.  Click here for more information.

Panama Continues to Develop with Foreign Investment...

UK’s Telegraph published an article this week entitled “Future Looks Bright for Panama”.  The article, written by a British ex-pat, cites the fact that “Panama has a slice of everything and something for everyone”.  Among the benefits of Panama: the climate, the economy, and significant, if not exponential growth. 

Panama has become increasingly popular with expats and retirees.  The country is appealing based on the stability that has been achieved since Manuel Noriega was removed from power in 1989.  The country has been built on a solid infrastructure and stable economy.  Panama has a conservative banking industry, and there is wide use of the US dollar, to which the balboa is pegged. 

Panama lies outside of the paths of hurricanes, and offers flora and fauna for those that appreciate the outdoors.  For those that desire the country’s metropolitan aspects, there are skyscrapers that draw comparisons to the Manhattan skyline.  Panama recently elected a pro-business government, and many international companies are moving to the area. 

There are a growing number of foreign investors attracted to Panama.  Property taxes are waived for 20 years for investors, earnings are not taxed, and many properties have ocean access.  Many celebrities are moving to areas like Casco Viejo, Bocas del Toro and the Azuero Peninsula.  Panama’s international airport has flights to over 40 countries. 

Interested in investing in Panama?  Visit Panama-Land-for-Sale.com to see properties and real estate for sale in Panama City, Boquete and outer-lying areas of Panama.  Click here for information on our property for sale in Panama.

Panama Canal Contract Granted - Development Continues

The Panama Canal Authority has announced the winner of the $3.4 billion contract that will double the capacity of he waterfront.

Voters approved the Panama Canal expansion, which includes a new set of locks to accommodate larger ships, in 2006. Construction began in 2007 and is due for completion in 2014, 100 years after the Canal’s inaugural construction. The new expansion will allow large cargo ships to transition between the Pacific and Caribbean Oceans in under a 10-hour timeframe. The Canal’s current capacity allows ships carrying up to 5,000 containers. After the development and expansion, the Canal will be able to accommodate ships as large as 12,000 containers.

The project was awarded to Spain’s Sacyr Vallehermoso, which partnered with Italian company, Impregilo SpA, for bidding purposes. SV beat out competitors including: Bechtel, a Mitsubishi group; Actividades de Construccion y Servicios; Acciona; Fomento de Construcciones y Contratos; and Hochtief.

According to Canal spokeswoman, Teresa Arosemena, Sacyr Vallehermoso won the project after placing a bid of $3.12 billion, far lower than competing bids. The contract was approved by the ACP, which is owned by the country. The total Canal expansion project is valued at $5.25 billion. Sacyr Vallehermoso stock rallied almost 13% after being awarded the Panama Canal contract……

Panama has maintained a consistent position for growth and development. Interested in investing in Panama? Visit Panama-land-for-sale.com to see properties, land, and residences for sale in Panama. Click here for more information.

Real Estate Development, Construction to Lead Economic Recovery in Panama

If Panama’s new President has his way, the Panamanian construction and real estate markets will lead the country far beyond the rest of the globe, in terms of economic strength. 

Martinelli has committed to several development initiatives over his 5-year term, including: the construction of a new metro system, the Panama Canal expansion, the Coastal Strip property, the Colon-Panama highway, and the promotion of housing units costing less than $30,000 USD. 

The construction industry is in solid condition to face all of the infrastructure projects that have been introduced by President Martinelli’s new administration.  Cemex, the country’s leading cement producer, has invested $270 million to increase it’s production to four times that of current production.   Cemento Panama, the rival of Cemex, is also expanding its operations by doubling the production of cement, increasing production of sand and gravel, and adding 25 concrete trucks.  Steel is the only material expected for importation. 

The construction development will also add to the area’s employment.  According to sources, each full-time position could result in two to three indirect jobs for the area.  Martinelli’s administration intends to spend less and to lower taxes.  Economists indicate that this would allow for individuals to increase demand, consumption and investment.

Panama is well-positioned for those looking to retire or relocate to an international city.  Interested in economical property and land investments?  Visit Panama-land-for-sale.com to see properties, businesses and residences for sale in Panama.  Click here for more information.

Pro-Business President to Bring Jobs, Development to Panama

According to the Associated Press, Panama’s new “pro-business” President is promising the country new jobs….

The new President, Ricardo Martinelli, 57, is a supermarket magnate that has gained wide appeal among Panama’s 3.3 million residents. Martinelli, who was sworn in on Wednesday for a five-year term, has committed to “start the biggest job-creation push ever in the country”.

Outgoing President, Martin Torrijos, was responsible for the $5 billion Panama Canal expansion, which obtained over $2 billion in foreign investment in order to accommodate large cargo ships. Martinelli has been a staunch supporter of the Canal’s expansion, but also wants to expand upon the country’s economic capabilities.

Panama has experienced a real estate boom that the President wants to recreate, amid the worldwide recession. The country is considered to be the best place for business in Latin America. Martinelli has committed to fighting drug trafficking, along with Colombia and Mexico, and also has a billion-dollar proposal for a train system for Panama City’s metro area.

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Retirees Look for Land for Sale in Panama

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.

Green Real Estate Development Moving to Panama

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.

Outerlying Panamanian Areas Offer Real Estate to Tourists

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.

Panamanian Real Estate to Level Out by Year's End?

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….

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New Developments in Panama Real Estate Market

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.

Good Time for Investment 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.

Panama Canal Has Development in Relationship with U.S. Port

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.

Panama Development on Schedule

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.

Panama Land, Development to be Influenced by Trade Agreement?

According to the Associated Press, Panama has moved to the top of President Obama’s list for a trade agreement….

President Obama is committed to goals announced throughout his campaign of “rewarding strategic allies and confronting economic necessity”. Obama will be making his case before a Senate Finance Committee, and is pushing for a deal by July 1st.

The trade agreement will be viewed as a sign of friendship by many. Obama, who was a critic of NAFTA while campaigning, now sees the importance in a trade agreement with Panama. As a result of the Canal project, there is a growing transportation infrastructure that is seeing a rise in US tourism and trade. A trade agreement is supported by companies like Caterpillar, a company that has increased its presence in Panama and will increase production as a result of the Canal project. A trade agreement would allow U.S. companies to bid on Canal-related projects.

A U.S. trade agreement would be beneficial to the development in Panama. Interested in land in and outside of Panama City? Visit Panama-Land-for-Sale.com to see properties and real estate for sale in Panama.

Foreign Investors Interested in Panama Investment Property...

International investment in Panama has increased greatly and looks as if it will develop further….

According to KnightsbridgeInvest.com, “Panama Key in French Companies Operations”, there are a number of corporations that have moved or planned to move to Panama. Corporations including L’Oreal, Sanofi-Aventis (Pharmaceuticals), and Total (petroleum), GDF Suez (power generation) have all relocated to Panama. French investment already contributes more than $600 million to the Panamanian economy, and that number is estimated to reach $1 billion by 2010.

In addition to the French, a consortium of companies from Dubai have traveled to Panama, looking for investment deals. The company officials visited the country to investigate the development, laws and logistics of relocation.

The Tourism Authority of Panama is promoting Panama to over 178,000 people at one of largest trade fairs in the world in Berlin. The Authority will be promoting Panamanian culture and conservation efforts. The Panama Tourism Sector is estimated to have contributed about 12% to the national Gross Domestic Product. The Authority currently has 13 projects that have been approved by the National Registry of Tourism that will contribute over $400 million to tourism.

The development in Panama is significant to other parts of the world. Looking to relocate or move to Panama? Visit Panama-Land-for-Sale.com to see real estate and land listings for sale in Panama City and outer-lying areas like Portobelo. Click here for more information.

Martinelli Good for Business, Development in Panama

According to La Estrella, new President-elect, Ricardo Martinelli could be good for business in Panama…..

According to an article published in the Tico Times by Leland Baxter-Neal, foreign analysts believe Martinelli will be good for encouraging business in Panama. Martinelli has significant business experience and proven ability as an experienced business manager and negotiator. In addition to owning a chain of highly successful supermarkets, Martinelli has also worked in government. He has held positions as the Chariman of the Board of Directors of the Panama Canal Authority; Panama Canal Minister; and Director of Panama’s Social Security Administration.

While a global recession has slowed down many of the world’s economies, Panama remains somewhat stable. Although it has slowed slightly, Panama’s predicted GDP growth in 2009 is still predicted at 3%, one of few countries to be in positive growth.

Martinelli is expected to be popular among businesses and U.S. retirees and those relocating for business. Martinelli has also claimed that once in office, he will cut corporate taxes, implement a flat tax system, invest in tourism, and plans to fight legislation encouraging further transparency and legislation for the company’s banking industry……

Interested in retiring or relocating to Panama? Visit Panama-Land-for-Sale.com to see real estate for sale in and outside of Panama City, Panama! View condos, land, and businesses for sale in Panama – Click here for more information.

Investment in Panama - 2nd Real Estate Boom?

The Panama Report recently gave some suggestions for investing in Panama.

First and foremost - timing is everything when investing in Panamanian property. Many real estate opportunists made a significant amount of money as the first boom hit Panama. Many believe that a second property boom will take place as more people relocate to Panama for its lower cost of living. Currently, there are many deals due to the mass building that has occurred in the past few years. There is money to be made in the rental industry as well, as demand for furnished apartment rentals has increased.

Investment professionals also see the potential in investing in large tracts of land, particularly those coastal properties near the water. As Panama City has continued to grow, the outer-lying areas are being developed. Property investors should look for locations where roads, electricity and water are developed. It is also suggested that small hotels and apartment/hotels will be an area for growth.

Panama’s economy is currently fairly stable. Panama has significant capital in comparison to other countries, as the Canal project moves forward and other free trade agreements are in the works.

Interested in property development in Panama? Visit Panama-land-for-sale.com to see properties and businesses for sale in Panama. Click here for more information.