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| What Makes Panama Real Estate Attractive? |
Aside from the gorgeous beaches, great year round weather and unique ecosystem, what makes Panama an attractive destination for retirement or to purchase a vacation home? Here you will find just a few of the features that have led many travel publications to select Panama as the premiere retirement and second home destination in the world.
▪Bustling Economy: Panama's economy has historically maintained stability, and is currently experiencing a healthy rate of growth. In fact, Panama has one of Latin America's fastest growing economies.
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Panama's prosperity stems in part from the renowned Panama Canal, the prevalent banking industry, construction, fruit exports and tourism. Moreover, Panama's 2006 approval of an expansion plan for the Panama Canal is expected to bring tens of thousands of new jobs to Panama. It is no coincidence that foreigners are becoming more interested in the plethora of investment opportunities Panama presents
▪Incentives for Foreign Investors: Government incentives such as new construction property tax breaks have been enacted to prompt foreign investors to invest and live in Panama. The Panamanian government also guarantees foreign investors rights equal to those of local investors and does not require any special permits or registration. Additional incentives are offered in important sectors such as construction, reforestation, mining, insurance and tourism.
▪Modern Amenities: Panama's modern infrastructure grants the convenient lifestyle to which many people from North America are accustomed. Visitors and residents alike value the diverse choices Panama has to offer, having the opportunity to escape to a pristine beach but not having to sacrifice modern conveniences such as a contemporary road system, high speed internet access and cable television.
▪Leisure Activities: Panama's first class golf courses are only the beginning. Excellent fishing, sailing, rafting and diving opportunities abound to help Panama residents and visitors to get the most out of the year round tropical weather.
▪Attractive Cost of Living: While Panama grants a high standard of living with its modern shopping malls, casinos, international restaurants and purified tap water, the cost of living is lower than what one would find in a comparable area of North America or Europe. For instance, a taxi ride to anywhere within the city limits would be around two dollars, and going to see a movie in a theater would cost about four dollars.
With affordable Panama real estate, friendly natives and security surpassing that of all of South and Central America, it only takes one visit to experience what makes Panama a premiere destination for travel and real estate investing.
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