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).

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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.

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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.

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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.

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.

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.

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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 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.

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 Panama-Land-for-Sale.com for more information.

Panama Development Offers 5 Reasons to Buy Real Estate

It has been predicted by economist Nicolas Ardito Barletta that while Panama’s growth is down slightly this year, falling from 8% to 5%, it is expected to see further growth as the Canal expansion continues.

Panama continues to experience a business and tourism boom that caters to an international tourism and business community. ShelterOffShore.com has given “5 Good Reasons to Buy Property in Panama”. Describing the 5 Reasons as “sound and solid reasons why property in this stunning Central American nation is a good bet for long-term investors, holiday home seekers or even retirees”.

Here are the 5 Reasons -

1) Tourism is Increasing in Panama.
An economical destination that received a 12% increase each year since 04. The country continues to spend to promote tourism.

2) Desirability of Panama and its Property Product.
Because Panama is both a beach city and a metropolis, there are many aspects that are desirable to different kinds of people.

3) Property in Panama Can be Competitively Priced.
There is significant development and current property on the market. Asking prices are across the board and bargains are to be had.

4) Long-term Potential for Profit.
Due to the Panama Canal expansion, local government and businesses are stable. Long-term rewards can be achieved.

5) Lifestyle
The cost of living is much cheaper in Panama than in the U.S. or Europe, allowing a better quality of life.

Click here for the entire article.

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