Real
estate in Panama features Caribbean and Pacific waterfront and beachfront,
island, highland, mountain, rainforest and agricultural property
options. Property prices are affordable and on par with well-known
locations 10 to 20 years ago, which is why, there are always excellent
deals to be found.
Buying
real estate in Panama is very similar to the way it is managed
in other countries. Most properties have titles or can be titled,
title insurance can be bought, traditional mortgages are available
and Panama has foreign investor protection laws that guarantee
the standard rights of land ownership.
Panama
is becoming a popular vacation destination or country to retire,
making Panama real estate investments very attractive to tourists,
retirees and investors. Panama offers an excellent incentive program
for retirees, great climate, lower cost of living, lower crime
rate and tax advantages. For foreign investors, Panama provides
several important incentives which include a US dollar based economy,
Free Trade Zone, and international banking, among others.
Additionally,
Panama’s real estate market has proven to be solid through
the years, which is the reason why several international real
estate firms such as Century 21 and Coldwell Banker have established
franchises in Panama City. Major banks such as HSBC Panama, Lloyds,
and Citibank have established franchises as well in order to provide
total financial services.
Furthermore,
Panama has a global position, direct flights to major cities and
technological resources and financial infrastructure, which are
a great advantage for many investors.
Panama
City has become a cosmopolitan modern metropolis - there are many
rise buildings overlooking the ocean and the Bay of Panama. Exclusive
residential areas like Marbella, Paitilla, Coco del Mar, Punta
Pacifica and San Francisco offer a good range of apartments and
condominiums for sale. Suburban residential areas in the former
Canal Zone like Amador Heights, Balboa, Albrook and Clayton offer
large and attractive single-family homes and condominiums.