Real Estate Boom in Panama

For searching and finding properties there are different resources like Real Estate Offices, newspapers, magazines, and internet sites. Some actual real estate offices are Tribaldos, Century 21, Panama Realtor, among others. Between the magazines of Panama Real Estate, you will be able to find the properties available at the different locations like Punta Pacifica, Boquete, Playa Blanca, Casco Viejo, Santa Catalina, etc. Internet sites, such as Encuentra24.com , are a great searching tool, with easy access and just some clicks away you can see the beautiful pictures and experience the sensation of being in the different properties. You can also read the descriptions of each property and in some cases the prices. Why are foreigners, mainly Americans, deciding to relocate, retire and invest in in Panama? One of the reasons is low costs compared to United States, and that the currency used is the Balboa which has the same value as dollars.

Another reason is that Panama offers incentives and benefits, for example there are no property taxes on new constructions for a period of years, also no taxes are charged for bringing household goods. Besides, Panama is considered as "Second Miami" for its American style infrastructure, its sophisticated business district and attractive neighborhoods. Panama is well developed in the communication area, it is considered to have the highest level infrastructure in telephone, fax and internet, as well as cellular communications in Central America. Another benefit referred to property ownership, is that foreigners have the same rights as Panamanians on property purchase. They can buy and sell legally and easily. See the Panama Real Estate Law .Likewise, foreign investors and their business have the same rights and duties as Panamanian investors, which include rights to freedom of trade and industry, as well as import and export.

All these benefits and incentives have impelled the real estate development in Panama. They have influenced foreigners to decide to retire or move to Panama finding a better place to live. A place that has security, good health, and a good economy, inexpensive and at the same time have similar comfort as their country. Investments will keep on developing in the next years, to continue fulfilling the foreigner's necessities.

For the past few years Boris P. Metraux has specialized on Panama real estate and condo marketing. During his research, he managed to gather significant data applied to community MLS system and various articles on latinamerica SEM.