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.

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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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.