Come to Panama City, Panama for the Best Mix of Real Estate Value and Quality of Living

A flood of Americans have retired to Panama in the last ten years. These folks have figured something out. Panama City real estate is a great place to live. Although the prices have risen with more buyers, Panama City real estate is still less expensive for comparable property than the United States, Europe, or the Caribbean. The combination of a wonderful climate along with no extreme weather is a winner. Panama does not have major hurricanes and there have been no recorded earthquakes. Panama City's only problem was pirates but Henry Morgan, who burned the old Panama City real estate to the ground in 1671, has not been seen in these parts for a very long time.

Come to Panama City to check out the real estate and along the way check out the Panamanian life style. People here work hard but do not take life quite so seriously as many Northerners, whether Americans, Canadians, or Europeans. "Tranquilo," they say if you are in a hurry. For many with a habitually hurried life style that is great advice. Buy Panama City real estate on the bay or in one of the great old neighborhoods and practice living "tranquilo."

Retirement on Panama City Real Estate

Panama has relatively easy residency laws. Retirees with a pension of $500 plus $100 per dependent qualify for a residency visa as a "jubilado," pronounced hoo bee LA doe, or retired person. This residency is renewable every five years. Purchasing property in Panama City for $200,000 or more will qualify you as a "person of means" and also allow you to take out residency papers. The cost of paperwork including lawyer's fee will run about $1500. When you are living on your Panama City property, sipping your Panamanian coffee, practicing "tranquilo," don't forget you need to renew your visa every five years.

Value of Panama City Real Estate

Since the trickle of American retirees has become a flood Panama City Property values have risen. Nevertheless Panama City real estate prices remain low in comparison to other metropolitan areas in the United States or Europe, not to mention vacation hot spots in the Caribbean. Did we mention that Panama also has great Caribbean real estate? Anyway, Panama City real estate has gone up in price but the value is still low. This is a booming economy in Panama City and property prices will continue to rise as a broad based rise in income continues for years with strong foreign investment and large infrastructure projects such as the Panama Canal expansion. Move to Panama City, buy property and watch it appreciate for years to come.

Sixty thousand dollar one bedroom apartments are not uncommon along Via España through the middle of the city. On the bay $300,000 and $1,000,000 are not uncommon prices for luxury penthouse apartments. These Panama City real estate gems have views of the Pacific as well as the mountains of Panama's interior. Neighborhood real estate in el Dorado or San Francisco can go for as little as $150,000 for a two bedroom house and approach a million for a four or five bedroom city home on a walled Panama City property. There is real estate to fit any pocketbook or any taste in Panama City.