Travel real estate: Why the Talk about Panama Real Estate?

by Laurie Cooper

From news reports to travel magazines, there has been a lot of buzz lately about real estate in Panama, South America. More and more Americans are choosing Panama not just as a travel destination, but as a second home or retirement destination. Not the typical Latin American country, Panama boasts excellent medical care, modern roads, and a communication infrastructure comparable to that of the United States while maintaining a lower cost of living. Here we examine some of the reasons Panama real estate is on the rise, and increasingly chosen as the ideal setting by Americans looking to invest in a vacation or permanent home.

A significant contributor to Panama's popularity as a site for real estate development is its stable economy. The U.S. dollar has been the legal tender of Panama for over one hundred years, though in Panama you will hear the dollar called the Balboa. The use of U.S. currency eliminates the hassle and risk associated with currency exchange for Americans, and gives them a convenient and comfortable means of purchasing goods and services in Panama. The famous Panama Canal is a mainstay in world commerce, and provides the country of Panama with worldly status, steady revenue and jobs for its people. The consistent flow of revenue generated by the canal gives the Panama economy stability even during times of uncertainty in other parts of Latin America. With a multibillion dollar expansion of the canal planned in coming years, the strength of Panama's economy is not expected to decline anytime soon.

Panama has numerous programs in place to encourage investments in real estate by foreigners. Foreign Panama real estate investors are given the same rights and protection as native investors in Panama under the Investment Stability Law, and tax benefits are available for new investments by foreigners. Special discounts and other incentives are given to foreign retirees who relocate to Panama. Additionally, Panama does not collect taxes from residents on foreign earned income.

Aside from its economic and legal benefits, Panama is a beautiful, natural paradise that has enticed many travelers to make the permanent move to Panama for years. From a city condominium in the midst of the bustle to a serene, remote beach property or getaway in the mountains, Panama offers variety of affordable real estate options to suit all personalities and lifestyles. The experience of one visit to Panama is enough to understand firsthand why so many people continue to visit, move to and invest in Panama.

About the Author
About the Author: Laurie Cooper, of Cpanama Real Estate Corp., is an expert on Panama real estate. For more information, please visit http://www.cpanama.com