Real Estate in David, Panama, the highlands in Chiriqui Province

David, a city located in western Panama, is the third largest city in Panama and capital of Chiriqui Province. Located on the David River, David is a trade center along the Inter-American Highway. Located 45 minutes from the border of Costa Rica, David has a population of 124,500.

David, Panama real estate is low priced compared to that in Costa Rica, its neighbor to the North. In the central highlands of Panama, David enjoys slightly cooler and dryer weather than the costal regions.

It is possible for foreigners to own real estate in and around David as Panama does not distinguish between citizens and foreign residents in regard to property laws. Advantages of Panamanian property law include a 20 year exemption from property taxes on new construction and subsidized interest rates on home mortgages of less than $62,500 for first time buyers.

Many Americans have come to retire in Panama taking advantage of real estate in and around David. These Americans have taken advantage of Panama's residency laws. Under these laws a retiree with a pension of $500 a month plus $100 for each dependent can gain permanent residency. In addition, purchase of property of sufficient value or a CD of $200,000 or more in a local bank also allows a foreigner to achieve residency as a "person of means."

Panama

The Isthmus of Panama connects North and South America and the Panama Canal connects the Atlantic and Pacific. Panama is a prosperous country with good services and better roads, ports, airports, and telecommunications than its Latin American neighbors. The dollar circulates as currency as it is pegged 1:1 to the Balboa and because Panama does not print paper money. You do not need to change you currency at the airport in Panama and with the long US presence in Panama English is spoken widely. David has a modern airport with flights to major US cities. On the Inter-American Highway travel by car to visit David, Panama real estate is easy.

David Panama Real Estate Value

Current David Panama real estate listings include a four bedroom, three bathroom house in David for $400,000 and a 1/4 acre lot for $49,000.

A fifteen minute drive from David is the area of Alanje which is in turn only 10 minutes from La Arqueta Beach. In this area is a three acre lot ready for a house or for investment and subdivision. This David, Panama real estate sells for $190,000.

In David a 6000 square foot estate type home on a gated lot sells for $195,000 this quality real estate outside of David, Panama would sell for much more.

A three bedroom, two bathroom 2100 square foot home with maid's quarters is being offered for $139,900. This real estate in David, Panama is likewise priced below many parts of the country, not to mention the USA.

Another David, Panama real estate find is a $55,000 two acre lot with a mountain view.

Ask about current real estate opportunities in David, Panama and come here to live in a tropical highland paradise.