Why invest in Panama Real Estate?
The low crime rate, a warm welcome to foreigners and unsurpassed benefits for retirees make Panama is in constant sight of the "baby boomers" of America in their search for an alternative place of retreat, thus encouraging increased activity for Panama real estate for sale. One of the advantages of living in this country is the use of the U.S. dollar as legal tender since 1904. The Republic of Panama offers an excellent package for retirees if you consider that this small country of nearly 3 million inhabitants has modern hospitals and medical services, economy and stable government, a free site of the passage of devastating hurricanes, coupled with a low cost of living and low taxes.
With a privileged location, Panama has become a center for multi-modal transport and struggle for economic diversification of activities traditionally associated with the Panama Canal, such as those generated in the Colon Free Zone, the largest free zone in the Western Hemisphere and second largest in the world after Hong Kong.
The 20-year exemption from land tax on new construction has generated a considerable increase in the construction industry, providing strong incentives for more entrepreneurial investors. Millions in foreign investments have gone into the Panamanian economy in search of better profits and better performance of the dollar, as regards the purchase of condominiums in the capital city as well as apartments and homes in beautiful beaches, lots of land and housing in the highlands and interior.
The Panama City real estate prices are a fraction of the cost in the United States and Europe. Retirees, both local and foreign receive discounts of all kinds, from exemption from taxes to advanced medical services. Even with rising property prices in Panama product of "boom", are regarded as the most attractive, low cost of living in the region, with many other benefits, amenities, fine dining, lively nightlife and excellent shopping Cart. Panama is paradise for life in style.
In all the splendor of the capital city can be seen more and more the construction of large buildings, which sometimes raises the question as to how much longer this boom. There are all kinds of properties and apartments for sale and for all budgets, from sumptuous condominiums overlooking the Bay of Panama, especially along the Avenida Balboa to Punta Paitilla, or from Punta Pacifica to the East Coast and the area of Coco del Mar. The same applies to houses and apartments in other areas of the capital city. The most recent was the announcement of the construction of condominiums and hotel project Millionaire "Ocean Club" Donald Trump in Punta Pacifica.
But this unusual growth of real estate for rent in Panama does not stop at the city limits. The wave also has moved into the Republic to the beaches and highlands, which contain large residential complexes as the "Valle Escondido" in Boquete, which increasingly draws the eyes of foreigners. The same applies to the construction of tourism projects and other beach front that appear at different points in the territorial geography and breath of this country.
Architecture in Panama has been influenced by various international styles, away from the classic colonial style predominant in the "Casco Viejo", still recognized as the architectural jewel in Panama and currently is under extensive restoration. The architecture and projects in Panama denote a variety of styles and forms, from the neoclassical style, modern, to contemporary. This mixture of styles in the construction reflects the multiculturalism of this country and city dwellers as opposed to traditional farms with Spanish and French influence, prevailing in the interior of the country. Moreover, in beach areas there is a mixture of the foregoing rental property.
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