Some Great Opportunities Still
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If you have decided to start looking for houses in Panama, you may be surprised to know that the country currently has plenty of opportunities for a variety of different purposes. In order to give you an idea of what there is to offer, you should first learn a bit about the setting. The land joins together North and South America and has been an attractive locale for retired Americans for the last decade. Due to a recent drop in home prices, many individuals looking to purchase a vacation home or second home can also snap up a great deal.
Not only do you get the investment in personal property when buying a home in Panama, you are also receiving an investment in the country’s ever growing economy. This country is proud to have the largest U.S. investment per capita for all of the countries of Latin America. This allows for the best airports, telecommunications technology, roads, ports, and infrastructure of any country located south of the United States border.
Retire to Paradise!
Retirees are still the largest shopper of houses over here. This is mostly due to the fact that these properties promise great increases in value from year to year, allowing for a very stable investment. For a reasonable income of just $500, the resident is provided with “jubilado” status, which is a Spanish term meaning “a retired person”. If a retiree is able to purchase a property over $200,000, they will be given “person of means” status, which renews every five years. When a person gains “jubilado” status, he or she is then able to take part in Panamanian retiree programs that provide discounts for doctor visits, prescription medications, groceries, utilities, and restaurants. Banks also offer certain incentives for retirees as well.
If all of this sounds like something that interests you, you can begin your search for houses for sale by area type. The country has cities, mountainous areas, and two sea coasts to choose from. Property located on the Pacific coast provides opportunities for surfing some of the best waves in the world, scuba diving amongst beautiful coral reefs, and some of the best sport fishing around. City living, such as in Panama City, offers homes, condos, and apartments which can range in price from $300,000 to nearly a million dollars depending on the size and property features. Caribbean facing homes offer plenty of advantages as well. Here investors can purchase beach front property for $20,000 when purchasing eighty or more acres in the area of Colon, while Bocas del Toro (located near Costa Rica) offers beach front property for $40,000.
The Advantages Are Clear
Anyone looking for houses for sale, whether for relocating, retiring, or simply investing, will find there are many advantages to purchasing property in this country. On top of the natural beauty Panama has to offer, the stable economy, and the potential for a great return on your investment, there are also the added benefits of not having to pay Panama taxes if you do not earn an income within the country, the ability to open bank accounts in U.S. dollars, Euros and other types of currency without the hassle of conversion losses, and bilateral investment treaties that offer further investment protection.