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.

Looking for investment opportunities in Panama? Visit Panama-Land-for-Sale.com to see properties, real estate and businesses for sale in Panama! Click here for more information.

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…..

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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….

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.

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.

Panama Maritime to Provide Development in Panama

According to La Estrella, shipping companies are opting for Panamanian ship registry.

According to the Panama Maritime Authority (AMP), ship registration presents an opportunity for development in Panama. Currently, there are over 8,400 registered ships under the Panamanian flag – more than any country in the world.

It has been predicted that shipping companies will continue with Panamanian registry, due to the most favorable legislation worldwide. Advantages to both merchant ships and cruise ships include: A faster process that takes only hours for registration; discounts based on ship’s tonnage and type; flexibility based on the nationality of the crew and ship’s owners; judicial safety to clients; and a consular offices in Panama that work with worldwide shipping offices.
This is good for Panama and its development. Direct annual income from ship registration accounts for over $70 million and the income derived indirectly accounts for over $150 million.

Director of Merchant Shipping, Alfonso Castillero claims that from 2007 to 2008, there was an increase of 11% of registered ships. He expects the registry to grow at least another 9%. In the 1st quarter, there were 347 ships registered – 151 of which were brand new ships.

This allows Panama to become a larger player in the international maritime market….Interested in moving, retiring or relocating to Panama? Visit Panama-Land-for-Sale.com to see real estate listings in Panama and Portobelo. Click here to view land, condos and businesses for sale in Panama!

New Panamian President-Elect to Affect Local Real Estate

Those living and investing in Panama are learning more about the new president-elect, Ricardo Martinelli.

The 57-year old, self-made mulimillionaire is one of Panama’s richest men. The son of Italian immigrants and educated in the U.S., Martinelli owns Panamana’s largest supermarket chain, Super 99 and also has interests in Panamanian banking, real estate, sugar, and hydroelectric energy.

Martinelli formerly served as the former government minister of Panama Canal affairs. He also ran in 2004, capturing only 5.3% of the vote – a far cry from the sweep of this year’s self-financed campaign against Balbina Herrera.

Martinelli’s campaign platform was based on points including:

- foreign investors for tourism projects including cruise ports and airports
- more government spending on public infrastructure
- maintaining a close relationship with the U.S.
- fiscal discipline and anti-corruption

Yesterday, Martinelli announced 14 cabinet ministers. He will take office on July 1st.

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Low Real Estate Prices Cited as Smart Reason to Invest in Panama

A new article by an owner with Panama Real Estate Sol Realty published an article this week, claiming that “Buying Real Estate in Panama Is a Smart Decision”.

Advantages like international trade and financial growth are cited as having made Panama an international real estate destination.

The Top 5 List for Investment in Panama – as determined by Panama Real Estate Sol Realty:

1.) Current Low Real Estate Prices.
2.) Low Cost-of-Living.
3.) Familiar Language – English & Spanish are prominent.
4.) Great Benefits for Retirees.
5.) Favorable Climate.

Interested in moving or retiring to Panama? Visit Panama-Land-for-Sale.com to view properties and land for sale in Panama City, Panama and near Portobelo! Click here for more information on businesses and properties for sale in Panama.

U.S.-Panama Developmental Agreement in the Works

This week, Reuters reported that the new President-elect of Panama, Ricardo Martinelli, is hoping to push a Free-Trade Act (FTA) with the United States as soon as possible.

Calling the FTA “our No. 1 priority”, Martinelli is anxious to put a trade agreement into place. Panama exported $377 million to the U.S. in 2008. Panama only taxes dollars that have been earned within the country, and as a result often faces critics accusing the country of providing an “offshore tax haven for wealthy foreigners”.

Martinelli, a wealthy supermarket tycoon, won the election by a staggering 60% of votes on Sunday. His administration rejects all complaints that U.S. citizens use the country of Panama as a tax haven. Frank De Lima, the head economic advisor to Martinelli’s administration has stated: “The perception that Panama is a tax haven is totally false…new government will be open to sharing information with U.S. authorities and plans to work to pass the agreement as soon as possible”.

A U.S.-Panama trade pact was signed by former Panamanian President, Martin Torrijos, in June 2007, but is currently being held up by U.S. Congress. President Obama’s administration has stated that it is hopeful to develop an agreement with Panama relatively soon.

Currently, Panama is a popular destination with U.S. retirees, particularly in a recession. Visit Panama-land-for-sale.com to view properties, land, and condos for sale in Panama and the outlying areas. Click here for more information.

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 Panama-Land-for-Sale.com 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 Panama-Land-for-Sale.com to view condos, businesses and land 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.

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 Panama-Land-for-Sale.com for more information about our properties, land, condos, and businesses for sale in Panama, Boquete, and Portobelo. Click here for more information.

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.

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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 http://www.cncpanama.org

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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 Panama-Land-for-Sale.com 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.

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 Panama-Land-For-Sale.com to see land, condos, and businesses for sale in Panama City, Panama! Click here for more information about buying land in Panama…

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 Panama-Land-For-Sale.com to see land, businesses, and other real estate for sale in and outside of Panama City. Click here to visit our site.

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 AskMen.com. Panama City, along with Buenos Aires and Santiago, were the leading cities in Central America. AskMen.com 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 AskMen.com 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.

Looking to move to Panama? Visit Panama-land-for-sale.com as a resource for moving to Panama and to see our real estate listings in Panama. Looking to buy a condo, land or business in Panama? Click here to see our listings.

Panama Climate a Draw for Those Purchasing Property...

Shelter Offshore recently profiled the favorable geography and climate in Panama, for those looking to live in an economical, tropical environment.

As many know, Panama is popular with retirees and is a top investment and lifestyle destination. While a developing nation, Panama is a cosmopolitan tropical paradise that offers a low cost of living.

Located between Costa Rica and Columbia, Panama offers beaches on both the Caribbean Sea and Pacific Ocean. The climate varies greatly as there are both sandy beaches and mountain ranges that offer fresh breezes. There are many activities for those that enjoy fishing, diving, golf, or water sports – as there are shallow, warm waters. There is no winter in Panama, but the rainy season, which occurs from May to November has late afternoon showers.

There are outer-lying areas like Boquete and Portobelo that have beachfront property for sale at a significantly reduced cost than in the states…..

Click here to read the article.

Interested in moving to Panama? Visit Panama-Land-for-Sale.com for information about living or retiring in Panama. View our properties for sale in Panama City, and areas like Portobelo. Click here for more information.

Outer Areas of Panama Offer Economical Land Deals

Yesterday, The New York Times profiled a home in one of the outer-lying areas around Panama City, Panama….

Now that much of Panama City has been developed, there is growth taking place outside the city, in areas up to 90 minutes outside of the city. There are many people taking advantage of economical land and real estate prices, as well as affordable construction costs in order to build their dream homes. There are many retirees that have started with weekend homes where they can ultimately retire.

There are several Indian coastal towns that have become resort towns with condo developments and gated communities in what once were just woodlands. The area provides for homes on both Caribbean and Pacific Coasts. The areas are targets for affordable beachfront compounds with mountain and ocean views. There is spacious land allows for building a dream home on unobstructed-view, cleared lots.

Check out our land deals outside of Panama City, Panama….Visit panama-land-for-sale.com to see the properties, businesses, condos and land for sale in Panama. We have properties near Colon and Portobelo….

NY Times Profiles Affordable Properties For Sale in Panama

The New York Times recently reported about the advantageous pricing in Panama…

A One-bedroom, deluxe apartment in Casco Viejo – the Old Town section that is also a UNESCO World Heritage site – offers fully renovated condos with historic features as low as $450,000. Beachfront houses can go for less than $1 million, and “comfortable” apartments range from $175,000 to $400,000.

Panamanian prices have softened somewhat, but have not crumbled like in other international cities. Panamanian banks will typically lend to foreign buyers putting at least 30% down. The area has become popular with retirees and foreign buyers from Europe, Canada, Colombia, Venezuela and Latin America.

Buying real estate is easy in Panama, as costs are only legal fees from $1,500 to $2,000, a transfer tax of 2% of the purchase price and real estate commissions of about 5%. Sellers pay capital gains taxes of 10% of profits on the property.
Many set up corporations to buy property, as it only costs about $1,000 and corporations have better tax advantages for the selling of property. There are generally about $115 a month in fees for condo fees, and no property taxes until 2035 because of government encouragement for growth and development.

Interested in property in Panama? Visit Panama-Land-for-Sale.com to see properties and businesses for sale in Panama City and outlying areas. Click here for more information about moving or retiring to Panama….

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!

Panama Tourism Numbers Encouraging for Overall Growth

The Panama Post reported last week that more than 1.6 million tourists visited Panama in 2008. All-in-all, Panama is well-positioned for an overall increase in tourism, regardless the global economic crisis…..

There were over 1.6 million tourists that entered the country through a variety of entry points to the country. According to the Tourism Authority of Panama (ATP), over 1.02 million visitors flew through Tocumen International Airport in Panama City, over 110,000 people entered Panama through the Costa Rican border, Paso Canoa, and the seaports accounted for over 235,000 visitors. Carl Fredrik Nordstrom, the ATP’s assistant administrator, claims “Tocumen displays exciting numbers. Through this airport we receive the kind of tourist who usually desires hotels, restaurants and tours”. Overall, there has been a 21% growth rate in tourism, based on entry and exit forms processed by the National Directorate of Immigration and Naturalization and the Comptroller General of the Republic (over 175,000 more visitors than in 2007). The tourism numbers have been supported by the Royal Caribbean port in Colon for the Enchantment of the Seas ship, and from the added destinations to Panama City by Copa Airlines.

The President of the Panamanian Association of Hotels (APATEL), Jorge Loaiza, has indicated that hotel growth can be attributed to advertising initiatives, as well as efforts by the government and the business communities. Hotels reported occupancy rates of 80% with rates of 68% in the metro Panama City area.

Panama is strongly positioned in tourism and its current economy. Currently, tourism contributes over $2 million to the economy. Within the past year, the ATP processed over $2.5 billion in new hotel investments and still sees a need for more and better hotels. The organization has stated that even if only half of the projects are completed, the country will still be in a good position. The Latin American market has been consistent and is expected to weather the economic meltdown.

Interested in property in Panama? Check out the incredible land deals at panama-land-for-sale.com. Check out properties in and outside Panama City, Panama. Click here for more information….

Panama Housing Advantages for Retirees

Marketplace Money reported last week that the economic downturn is prompting retirees to move out of the United States in order to obtain a lower cost of living. Panama is one of the primary countries that has seen an influx of retirees and others looking to cash in on the lower prices the country offers….

The U.S. has lost a staggering $2.8 trillion in retirement savings since the economic crisis began. As a result, Panama has become the new “it” place for retirees, with housing costs that are often less than a quarter of rent in the U.S. and custom homes can be built for as low as $60 to $70 a square foot. There are even companies that will assist you in your move should you choose to relocate to Panama with services including filling out necessary forms, bringing pets and finding real estate.

The Panamanian government has given a number of tax incentives, including new construction exemptions from property taxes for 20 years. It is also fairly easy for retirees to obtain visas that allow for discounts on a variety of goods and services.

Interested in economical land deals in Panama? Visit panama-land-for-sale.com for more information about land, condos, and businesses for sale in and outside Panama City, Panama! Click here for more information…..

Panama Growing into Healthcare Retreat

Panama is now being called a destination for “medical tourism”. This newest genre describes the international citizens that are traveling to Panama, across international borders, to obtain medical coverage.

Amid the economic crisis, the plunging real estate market and job cuts, the rise in medical demand is unprecedented, with many unable to afford the “luxury” of healthcare. Currently, even banks are willing to lend to health-related organizations.

The medical tourism industry is growing due to a lack of health insurance and coverage in places like the United States. As a result, many international citizens are looking to places like Panama for all kinds of healthcare from plastic surgery and dentistry to specialized surgery. Travel agencies have begun to capitalize on this growing trend and are offering “health care holidays” at luxury resorts, combining medical and recuperation with vacation. Medical tourism has existed for decades and centuries in places like Bath and St. Moritz. However, the number of Americans traveling abroad will grow from 750,000 in 2007 to 10 million in 2012, spending an estimated $21 billion a year.

The reasons citizens are flocking to places like Panama for medical coverage:

• Quality and Price are roughly 20% of healthcare costs in the U.S.
• World-renown hospitals like the Mayo Clinic and Johns Hopkins are setting up affiliate operations in places like Panama and the Middle East.
• Medical operations are completed much more quickly as a result of not having to deal with insurance or public health.
• Patients are able to purchase Global Health Insurance Coverage, private health insurance that provides global coverage.

The Top 5 Health Care Destinations are Panama, Brazil, Malaysia, Costa Rica and India.

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Real Estate to Continue to Generate Wealth in Panama...

Panama Opportunities just published an article called “Creating Wealth – Real Estate Investments in Panama”

As many real estate investors understand, there is still wealth to be created in Panama with property. The Panamanian government is considered to be “pro-real estate”, continually encouraging business opportunities in Panama. Additionally, the land and property prices in Panama are much more affordable than other areas of the world, and without natural disaster occurrences.

A haven for Americans, Europeans and retirees, Panama offers tropical benefits of owning a Latin American property without the hefty price tag. Prices in Panama are much more affordable compared to other areas of Latin America.

Panama presents a sound business opportunity due to its central location, beachfront and mountain properties, and well-planned cities. Click here to read the entire article.

Panama-land-for-sale.com has many properties and investment opportunities. Panama lots starting at $39,000. Click here for investment and land deals in Panama!

Trump Gives Reasons for Panama as "Hottest Market"

Ivanka Trump was interviewed this week, calling Panama the “Hottest Market” in the world. Ivanka, the executive vice-president of development and acquisitions at U.S.-based Trump Organization is helping to spearhead a new project on Isla Saboga.

In her interview with the Latin Business Chronicle, Trump had the following to say about Panama:

• “ I have projects all over the world [and] have a unique sense of the global real estate climate and submarkets…with great conviction, [I can say that] Panama is one of the strongest, if not the strongest, real estate market. Our biggest problem is not having enough inventory. We only have a small percent of the building left”.
• “Given the global downturn, the fact that sales remain so robust is a testament to the product, the brand and Panama”.
• “It’s got a great government that really supports developers…I’m impressed with their forward thinking in bringing in new potential residents. I’m in New York and see an ‘escape to Panama’…I never saw that five years ago”.
• “Some of the tax incentives are incredibly luring to international [investors], especially as we in America are being taxed to the hilt”.
• “Panama is an exceptionally diverse and beautiful country, with an urban and well-established city in addition to gorgeous resort-type destinations.”
• “Panama is attracting [a] lot of baby boomers priced out of South Florida”.
• “We’ll be in Panama for many years after the Trump Ocean Club is ready.”

She claims that most of the buyers of Panamanian property are American, Canadian and Latin American.

Interested in buying property or businesses in Panama? Visit panama-land-for-sale.com to see our Panamanian listings in and outside of Panama City! Use panama-land-for-sale.com as a resource for relocating or retiring to Panama!

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.

Looking for real estate in Panama? Visit panama-land-for-sale.com for information on real estate deals and specials in Panama! Click here to view our residential, business and land deals in Panama!

Panama Real Estate Listed in Top 3 Profit Plays

Today’s Financial News posted an article entitled “Three Top Real Estate Profit Plays for 2009….Among the picks? Panama, of course!

Ronan McMahon, a self-proclaimed active real estate investor that contributes to the International Living newsletter, looks for international real estate opportunities around the globe.

According to McMahon, amid the worldwide global recession, there are still real estate deals to be had. McMahon lists Fortaleza, Brazil at the #1 post, Panama City, Panama at #2 and Costa Rica’s Southern Zone as #3 for making money off of your real estate investment. The Make Money Pick #2, Panama, has been on the radar for the past few years, but as the housing market has fallen, Panama remains fairly solid.

Demand for apartment rentals in Panama is up with some rentals going for up to $500 per night. McMahon claims that “well-managed and presented rentals are running at higher than 80% occupancy” and that “rental rates and occupancy have continued to skyrocket”. New condos and land have had prices slashed, now presenting a fantastic market for real estate investors.

Click here to read the article.

Interested in real estate investment deals in Panama? Visit panama-land-for-sale.com to see the unbelievable Panamanian real estate deals offered. Listings include condos, businesses and land deals in Panama!

Advantages of Panama Real Estate - Banking

The site LoopHoling.com published an article this week about banking in Panama. As a summary, the site explains the following points of banking in Panama.

• There are 150 banks in Panama.
• The types of banking that exist are:
• Banks that can only do business with entities not in Panama
• Banks that can only do business with entities in Panama
• Banks that can do business with those offshore as well as within Panama
• Savings and Loans institutions which invest 70% of long term deposits in Panama real estate

For those not living in Panama, obtaining a Panamanian bank account can be difficult. However for those that own or rent a home in Panama, the process is easier.

Banks will need cell phone number, regular house phone number, mailing address, reason for being in Panama (i.e., retired, moved), bank reference from home country accounting for your banking history and standing, local references, passport and driver’s license, explanation of your source of funds in Panama, and a reference from a lawyer or accountant from your home country.

Checks from the USA take 3-4 weeks to clear and Panamanian checks can only be written within the country. Panama’s stringent bank secrecy laws allow only national governments holding a criminal case on file in the court system is able to collect from Panamanian accounts (the Mutual legal Assistance Treaty), but it is still a timely process. There is no other accepted party that is able to take money from a Panamanian account holder. Read this interesting article in its entirety here.

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Carnaval to Bring Economic Growth to Panama

Carnaval is set to begin in Panama from Thursday, February 21st to Tuesday, February 24th.

Carnaval, like Mardi Gras in the U.S., includes parades, parties and heavy drinking. The festival is celebrated in virtually every small town, many of which will double to quadruple in size. One of the most famous Carnaval towns is Las Tablas, which will have roughly 100,000 people inflate the city of 10,000.

Carnaval begins with a party on Friday night. The queens of Carnaval are crowned and participate in a parade. It is a formal celebration that concludes with a fireworks show. After, there are parties at local bars until 5am. On Saturday morning, the “mojadera” begins at 10am. Water tankers called ‘cuelcos’ are parked on the streets and spray down the partiers with water. In the afternoon, there is another parade with the queens of Carnaval. In the early evening, around 5pm, the square is closed off for cleaning while partiers recharge. In the evenings, Carnaval-goers hit up the bars and squares once again and await the midnight parade of Carnaval queens. This is repeated until Tuesday.

Panama City prepares for Carnaval for the entire year, including planning for parade routes, floats, and municipal preparation. The festival is good for commerce.

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Firm Cites Growth in Panama as Reason for New Office

The second-largest lobbying firm in New York is opening a new company in Panama….

Patricia Lynch, a NY-based lobbyist, has partnered with the Sosas, a Panamanian family, to open Lynch Sosa & Associates. Partner Juan Sosa is the former Panamanian ambassador to the U.S. His son will also be joining the business.

Lynch’s office chose Panama due to the strong growth that continues to take place in Panama. Her office claims:

“It’s like a place that’s got the best of the Caribbean and Latin America, while also having a lot of American connections. It’s a great place to do business”, adding that their clientele consists of “a combination of Panamanian folks wanting to explore New York markets, and the second part is New York and American firms wanting to have a Latin American presence”.

This marks founder Patricia Lynch’s first overseas venture. The firm will be located in Panama City. The office has been planned for the last year. Advantages of maintaining a Panamanian office include that it is in the same time zone as New York, uses the dollar as its primary currency, uses English commonly, and has labor costs, real estate prices and taxes that are much lower than in other countries.

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Panamanian Real Estate Market Outlook Positive...

Despite the global recession, experts continue to have a positive outlook on the real estate market in Panama and its future in 2009.

The international website, Property Abroad, has reported that “Panama’s property market is proving to be one of the world’s most resilient to the global downturn”. The company’s director of overseas property claims, “Panama's economy stayed strong throughout 2008 and it is widely expected to stay the same for 2009”.

It is predicted that development will continue, with projects like the new Trump and Nikki Beach developments in the works.

For those unfamiliar with Panamanian real estate, The Panama Report makes the suggestions that those entering the market realize the type of property they desire and view the property as an “end-use” property. The argument claims that “unobstructed ocean views are always sought after properties”.

Use our site to view the Panamanian properties we have for sale, including mountain, river, and ocean view properties. We have properties located in Panama City and near Colon and Portobelo. Visit panama-land-for-sale.com for more information.

Development to Continue in Panama City

Hotelsmag.com has just profiled Panama City in an article called “Panama: Hotel Hot Spot” and claims that Panama City is “the new business hub of the Americas” due to its positioning between North and South Americas.

Many are claiming that Panama will compete with Costa Rica in terms of development as local developers have stated that they are not slowing down on development projects. There are currently 19 different hotel projects in development for over 4000 rooms, including Nikki Beach, Renaissance, Westin and Le Meridien projects.

In Panama, banking and hospitality industries have remained solid and there are also tax incentives to encourage hotel and tourism development. It was recently announced that the port of Colon will also now be a home port for Royal Caribbean cruise line.

The tourism council of Panama is looking to attract the European market in the next few years, as over 200,000 visited the country in 2008. For full details on Panama’s growth, click here to read the entire Hotelsmag.com article.

Are you looking to invest in Panama? Visit our site as a resource. Panama-land-for-sale.com features many properties for sale near Panama City and Colon!