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.

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.

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.

Copa to Add Flights to Growing Panama

It was announced, via press release this week, that Copa Airlines will be adding an extra 4 Boeing 737-800 Next-Generation aircraft to its initial 9-aircraft order within the next 3 years. The new 13-aircraft order “will enable Copa to continue strengthening its leadership position in the Latin American airline industry, as well as provide passengers an attractive product an a highly efficient aircraft”, according to CEO of Copa Airlines, Pedro Heilbron.

The Boeing Next-Generation 737-800 will seat 160 passengers.

This newest order by Copa is indicative of the incredible growth in Panama!!! If you are interested in taking a trip to check out the deals in Panama, visit our site at www.panama-land-for-sale.com. Check out our incredible land deals in Panama….retire or relocate to Panama today!!!

U.S.-Panama Ties to Remain Strong

The results of last week’s U.S. presidential election should not affect Panama in any significant capacity.

Last week, Panamanian Foreign Minister, Samuel Lewis Navarro, reported that “For Panama, the result will not make any difference to the continued strengthening of the special ties between both countries”. Neither candidate would be initiating policies that interfere with the historical relationship between Panama and the U.S.

Panama and the United States are completing an agreement called the U.S.-Panama Agreement (CPA). The agreement has been signed by both governments after three years of negotiations. The agreement calls for eliminating tariffs and other trade barriers for goods and services between the U.S. and Panama. The Panamanian National Assembly ratified the agreement on July 11, 2007 and is now waiting for ratification from U.S. Congress, which is expected to pass.

Panama has become home to many Americans, as well as other world citizens. Land prices, healthcare, and a strong dollar all contribute to a robust economy for those looking to move or retire in Panama. Visit our site at www.panama-land-for-sale.com for more information about our land deals in Panama!

Panama Canal Founder Honored with Space Trip

The Panama Canal hosted NASA Astronaut Dr. Scott Parazynski this week. Dr. Parazynski presented the Panama Canal Authority with a Panama flag and a collection of photos in honor of Col. David DuBose Gaillard, an ancestor of Dr. Parazynski.

Colonel Gaillard was the a member of the U.S. Army Corps of Engineers, and the man faced with the challenge of cutting through the Continental Divide to create the Panama Canal. The nine-mile strip of land that was to be cut to create the Canal was originally named the “Culebra Cut”. Because Gaillard died in 1913, before the Canal was completed, the project was renamed the “Gaillard Cut” in his honor.

Dr. Parazynski, a descendent of Gaillard, took a VIP tour of the Canal following the official ceremony at the Miraflores Locks. Parazynski claims that there are many similarities in the challenges that face both the space and oceanic areas of study.

Parazynski flew Gaillard’s items in his most recent space mission and has returned them to the country of Panama to celebrate Gaillard. Dr. Parazynski has logged five shuttle flights and a total of 1381 flight hours. He is a recipient of the NASA Exceptional Service Medal, the NASA Distinguished Service Medal and the NASA Space Flight Medal for performing a spacewalk to repair a space station solar array.

Visit the Canal! Visit Panama! Are you looking to more or retire to Panama? Use our site as a resource! Visit www.panama-land-for-sale.com to view information about Panama and to see our incredible land specials!