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Panama has become the premier retirement destination in the world. Besides the current flood of retirees, vacationers, investors, and persons of means are coming to Panama to visit and to stay. In the last ten years many Americans have "found" their Central American real estate in Panama, bypassing Costa Rica and Mexico along the way.

Why Panama for Central American Real Estate

Often times Panama Central American Real Estate is referred to as Costa Rica property at half the price. There has been a run up in real estate cost in Panama but Central American real estate in Panama is still less expensive for comparable property than the United State, Europe, the Caribbean, or Costa Rica. Unlike the Caribbean island nations and Central America north of Panama, Panama does not have major hurricanes.

Panama has the largest per capital US investment in all of Latin America. This shows in the roads, ports, airports, telecommunications, and all forms of infrastructure. Panama has a democratically elected and stable government which is very proactive. Panama is promoting home ownership by forgiving property taxes for twenty years on new construction.

Panama subsidizes mortgage interest payments on its Central American real estate so that housing mortgages under $30,000 are interest free to the owner. For mortgages under $62,500 home owners pay interest of 3.0% or less. The government is expected to raise the cap on subsidized mortgages to $80,000 mortgages by the end of the year.

Foreigners can buy and own Central American real estate in Panama and are subject to the same laws and benefits as Panamanian citizens.

Residency and Central American Real Estate in Panama

Panama allows foreigners to gain residency under several plans. Retirees can deposit $500 plus $100 per dependent into a Panamanian bank and, after filing the appropriate paperwork, maintain residency renewable every five years. Purchase of Central American real estate in Panama valued at or above $200,000 or purchase of a CD in a Panamanian bank of the same amount will qualify you as a "person of means" and also allow you to take out papers for residency.

Value of Central American Real Estate in Panama

In David a three bedroom, two bathroom home of 2100 square meters with maid's quarters sells for less than $140,000.

In Boquete a three bedroom, two bath home with a great view is going for less than $150,000. In Bocas del Toro a 4 bedroom, three bath beach front property is going for under $500,000.

Panama Central American Real Estate

Panama has beach front property to both the Pacific and Caribbean coasts. There are individual dwellings, property to develop and housing developments along the mountain chain in Central Panama. Panama City has high rises overlooking the Pacific and homes in shaded upscale neighborhoods. Malls in Panama City rival those in the USA. Restaurants carry local fare as well as international cuisine. Come and see Central American real estate in Panama and stay for a lifetime.