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Beach Fronts and Mountain Hideaways in Paradise

American retirees discovered Panama real estate ten years ago with its great variety of choices from mountain hideaways to coastal retreats to penthouse real estate overlooking the Pacific Ocean in Panama City. Panama links North and South America and is roughly the size of North Carolina. It combines jungle with mountains, scuba diving with walks along the beach, shopping modern malls with eating in fine restaurants.

If you are looking for beach front property you can purchase Panama real estate in the Provinces of Chiriqui, Los Santos, Herrera, Panama, all on the Pacific Ocean, Veraguas on the Pacific and Caribbean, and Bocas del Toro or Colon on the Caribbean.

In the mountains down the spine of the country from Chiriqui and Bocas del Toro to the province of Panama you can find Panama real estate to provide a hideaway or, if your prefer, a gated community with security reminiscent of the USA.

If you want the activity, shopping and night life of the capital city, look at Panama real estate in Panama City with penthouses overlooking the Pacific Ocean and homes on shaded lots in San Francisco and el Dorado. The capital city has malls to compare with the USA as well as shopping in the calles of Calidonia to match any trip to Mexico. Restaurants include mom and pop operations with sancocho and arroz as well as elegant Italian cuisine in el Cangrejo.

Inexpensive Real Estate in Panama

Although housing costs have gone up in the current real estate boom there is still great value to be had in Panama real estate. Prices throughout the country are still inexpensive compared to comparable properties throughout the Caribbean not to mention in the United States and Europe.

You can find apartments overlooking the Pacific on real estate outside of Panama City for $40,000 as well as penthouses on the upscale real estate of Paitilla, in Panama City for $450,000. Beachfront and interior Panama real estate is still available at inexpensive prices for building your own dream home in this tropical paradise.

Tax Breaks on Panama Real Estate

New construction of Panama real estate housing is free of property taxes for up to 20 years. An older property appraised at $100,000 is taxed at 1% of $100,000 minus $30,000, namely $700 a year. In addition, Panama Law 8 provides many incentives for developing ecotourism projects including write offs of income taxes and property taxes for as many as 15 years.

You pay income taxes in Panama only on income earned here. If you do work here the rates are much better than the USA. They start with 2% on your first $3000 and work up to a 30% tax rate for $200,000 a year. Come to Panama for the tax breaks.

The New York Times says:

[despite] the price increases, property here remains a fraction of what one would pay for similar real estate in the United States. And with enticements like a 20-year suspension of property taxes to those who build houses or renovate in a historic district, and an income tax hiatus for those starting some small businesses, the opportunities are appealing not only for those seeking a place to retire but also for entrepreneurs.

Come look at Panama real estate and investigate the mountains, beaches, and Panama City. Look at the value and tax breaks you get for buying property here in paradise.

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