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Looking to buy real estate in a tropical country? Think of the country of Panama. Panama is a democratic and prosperous country on the land bridge between North and South America. It is the site of the Panama Canal that connects the Atlantic to the Pacific. Over the last decade or so Panama has become increasingly popular for its ecotourism and also has evolved into the premier retirement destination in the world. With attractive residency requirements and tax laws the country of Panama is a natural for purchasing vacation or retirement real estate.

Real Estate in the Country of Panama

Panama real estate is less expensive than comparable property in the United States, Europe, or the Caribbean. This remains the case despite recent price increases. Prices are going up because of demand, both from foreigners buying real estate and local residents. The country of Panama is experiencing a real estate boom driven by foreign investment and by government policies that encourage construction and purchase of family homes. For example, there are no property taxes on new housing construction for up to twenty years. There are also subsidies on mortgages of less than $62,500, which soon will be increased to $80,000 according to the March 9, 2008 edition of La Prensa (Panama). Real estate in the country of Panama is likely to appreciate in value for years to come.

Variety and Value in Panama Real Estate

Real estate in the country of Panama varies from condos in high rises on the Pacific in busy and exciting Panama City to secluded island getaways in the Bocas del Toro Archipelago on Panama's Caribbean coast. Pacific coast real estate in Veraguas Province in the country of Panama has world class sport fishing, surfing and scuba diving. The country of Panama has real estate near and in many areas famous for their natural beauty. Boquete and el Valle in the interior highlands are well known ecotourism destinations.

Condos on the Pacific in Panama City go for $300,000 to $1,000,000 and more for fabulous views and luxurious surroundings. Real estate in the upscale neighborhoods in Panama City in the country of Panama sells for $150,000 and up. New apartments on the main avenues of Panama City start at $60,000.

Real estate in the central highlands of the country of Panama starts in the $30,000 range for bare lots and for around $150,000 for houses. In Bocas del Toro you can buy an island still for around $2,000,000 or a beachfront lot for as little as $40,000.

The city of Colon on the Caribbean end of the Panama Canal has long played second fiddle to Panama City. However, a new highway will connect the two cities and the trip will become a commute of less than an hour. Panama real estate prices in Colon are expected to increase greatly with increasing investment. The province of Colon in the country of Panama has wonderful sailing and scuba diving in crystal clear water. The beaches are pristine and largely untouched. As local road improvements progress beach front real estate in Colon Province in the country of Panama is becoming much more accessible. Right now large parcels are available at prices substantially below those for comparable property elsewhere. These are expected to appreciate greatly as these areas are developed.

In the country of Panama in Colon Province 45 acres of pristine beach front real estate is offered for just under $2,000,000.

All those retirees moving to Panama can't be wrong buying Panama real estate. It's a great place to live where English is commonly spoken and dollar bills are the circulating currency. Come take a look at real estate in the country of Panama. You might just stay.

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