Having the fastest growing GDP rate in Latin America, Panama has become one of the best places to settle down after retirement. However, Panama Citys condo market is already overheated; therefore, investors are now going for lesser-known destinations where affordable property prices still exist.
Over the last few decades, Panama has become quite popular for adventure and ecotourism. The real estate sector of the country and the property business has grown as well. People from around the world like to live in a place where there is economic progress and a stable ruling government - Panama has got that. Panama also offers an attractive incentive program for retirees. The cost of living is low and the climate is beautiful all the year round.
Fact is, Panama Citys real estate sector has already seen a boom. Now other parts of the country are passing an upward growth rate as companies from around the world are seeking office space here and retirees from Europe and North America are seeking for residences. A few of the potential cities are mentioned herein:
Playa Coronado - the city is bordered by the Pacific Ocean, located between two rivers lajas and gorgona. Playa Coronado is surrounded by mountains and is just 50 minutes by road from the capital Panama City. The real estate boom is felt here too and due to rapid expansion, there are a lot of properties available for the interested buyers.
Another city, Boquete, Chiriqui is located in the highlands of Western Panama and is famous as a retirement destination. The cost of Boquete real estate depends on the location and access to utility supplies. For instance, if the cost is quoted very less, there are chances that you may have to install power and water lines.
Boca Chica, Chiriqui- is famous for dozens of small islands, scuba diving, fishing and boating. Boca Chica is one of the most beautiful places to visit in Panama as well. By road, it takes 5 hours to reach Boca Chica from Panama City. Development in real estate in Boca Chica is expanding rapidly. Numerous sport fishing businesses have been opened as well.
Santa Catalina, Veraguas- You can find the worlds best surf beaches here. Surfers come here from all parts of the globe. Beaches like Estero and Punta Brava are worth paying a visit. Established and reputed big world villas is planning to build a luxury ocean front in Veraguas. It is the first such development in this area. As the time passes, more development will take place for sure.
Coiba Island - it is a universal paradise located in the southeastern part of Panama and covers an area of 2500 square kms of forests, islands, mangroves, beaches and coral reels. It is the largest uninhabited tropical forest island in the Americas. Coiba Island was declared as a national park by the Panamanian government in 1992. Many real estate companies are planning to invest here while few already started the process.
Panama is the southernmost country of Central America, Situated on an isthmus. The country borders Colombia, Costa Rica, the Caribbean and the Pacific Ocean. The two oceans are linked by the man-made Panama Canal. Among other Central American countries, Panama is the most industrialized country. It has by far the most developed economy and has the largest expenditure on resource consumption, making the country the largest consumer in Central America.
Investing in Panamas real estate is obviously a good decision. One however has to be careful in selecting the right place. If one of the above locations is chosen, satisfaction is guaranteed.
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