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Panama is the narrowest point in the Americas where the Panama Canal connects Atlantic and Pacific. This tropical country has untouched rain forest and pristine beaches on both the Pacific and Caribbean coasts. Panama also has a first world infrastructure with the best roads, airports, ports, and telecommunications in Latin America. Panama is currently enjoying an economic boom and a flood of North American retirees attracted by easy residency laws.

The Nation of Panama

Panama became a country in 1905 when, with United States help, it broke away from Colombia. For most of its existence Panama was viewed as a United States colony as the US built and managed the Panama Canal from the start of construction until the turnover in 1999. Today the US is out of the Canal although it is available for defense if needed.

Panama Canal

The construction of the Panama Canal is one of the world’s engineering marvels. The Panama Canal is the system of man made channels, locks, dams, and artificial lakes that connect the Pacific Ocean to the Atlantic Ocean across the Isthmus of Panama. Since its completion in 1914 the Panama Canal has allowed shipping to cross the fifty mile wide isthmus at the narrowest part of the Americas. The Panama Canal locks allow ships to enter the system from either ocean and to be raised to the level of artificial Lake Gatun, 26 meters above sea level, to transit central Panama before being lowered to sea level on the other side.

Panama Pacific

The Panama Pacific coast includes some of the world’s best sport fishing, great scuba diving, and some of the best surfing in the Americas. The beaches are pristine and beach properties include isolated hideaways, island properties and gated communities close to Panama City.

Panama Caribbean

From the world famous Bocas del Toro Archipelago to the pristine beaches of Colon Province to the protected islands of Comarca Kuna Yala, Panama has a variety of Caribbean experiences. This also includes the second largest duty free zone in the world in Colon, the Colon Free Zone near the Caribbean end of the Panama Canal.

Panama Interior

The Panama interior boasts of some of the most gorgeous property imaginable at El Valle, Boquete, Volcan, and many other attractive locations. With Panama’s good roads no part of Panama is more than a few hours from Tocumen International Airport in Panama City or the International airport at David, Panama in Chiriqui Province.

Panama Infrastructure

Panama has and is improving the best infrastructure in Latin America. The ports and Panama Canal transportation are first rate and with the Panama Canal Expansion progressing shipping capacity through the canal will double in a few years. Roads and telecommunications are generally considered the best in Latin America. Panama City with a million people has any amenity you might like and condo views of the Pacific and interior from the fiftieth floor.

Panama Retirees and Residency

For the last ten years an increasing number of North Americans have moved to Panama, gained residency, and retired here. Panama has relatively easy residency laws. Purchasing property in Panama is possible for foreigners and Panama grants the same discounts to foreign retirees as to its own seniors.

Panama Property

Panama property has gone up in value and will likely continue to do so with Panama’s economic boom. Nevertheless property in Panama is cheaper than in the US, Europe or the Caribbean islands. That comparison is unfair to Panama, however. North America and Europe do not have the tropical paradise that is Panama and nowhere in the Caribbean can you find a first world city such as Panama City with an infrastructure that works as well.

If you have questions about Panama, especially about property and investment in Panama City or throughout the country, please contact us at ABPanama. We have over 23 years experience managing real estate portfolios and work throughout Panama.