For those that are looking to pursue that dream of retiring in a tropical paradise, Panama has claimed the headlines in real estate news. Be it to the cool coffee highlands of Boquete, the island life of Bocas de Toro, or the luxury and buzz of modern high-rises in Panama City, investors and retirees have their options when it comes to real estate. Panama lures people for its tropical flare, political stability, and U.S. dollar currency.
Visa requirements for retirees are also the easiest option of international residents with their sights on Panama real estate and lucrative investments. Not only are they easy to obtain but they also come with a world of perks that make Panama irresistible for retirement. See our link for more information on retirement visas.
The Investment Stability Law No. 54 established in 1998 sets the Panama precedent for foreign investment and is part of what makes Panama the most globalized country in all of Latin America. This law protects investments and business transactions for 10 years of stability in local laws in tax, customs, municipal, and labor issues. Investment visas are also easy to obtain in Panama, making real estate even more advantageous for foreign investors.
It is recommended to hire a lawyer for the acquisition process though most off shore real estate firms have their own lawyers to help clients. Real estate property titles must be registered though a somewhat bureaucratic (intrinsic to Latin America) Public Registry. Most land is only covered with a “derecho possessorio” ownership by local campesinos. In Panama, land ownership is claimed by either squatting for a certain period of time or claiming idle lands with some kind of proof of labor, with either cattle or low income construction. The derecho possessorio may be legally purchased and made into rightful ownership, while hopefully keeping in mind that campesinos have few economic options and these lands have usually been in their family for many generations. Contact us for help with legal services.
Below is a list of the real estate highlights in Panama.
Beach front/Island real estate
• Bocas del Toro- Bordering with Costa Rica, this archipelago was once just for serious surfers. Now the growing tourist towns are home more and more to full time retired residents. Enjoy breathtaking views, fresh seafood, and the Caribbean lifestyle perfect for real estate shoppers that enjoy culture, nature, and adventure.
• Pearl Islands- Feel like you own an entire island and boast that you are a true “Survivor” by purchasing real estate on any one of the Pearl Islands. Just a short 30 minute plane ride from Panama City, encounter the beach house and resort life.
• Coronado – Real estate in Coronado is an established beach community west of Panama City on the Pacific Coast.
• Playa Blanca
Highland real estate
• Boquete- One of the most popular real estate spots in Panama for its cool climate, coffee farms, and kind people, Boquete is located in the highlands close to Costa Rica and hosts one of the largest foreign retiree populations in Panama.
• El Valle- Set within the crater of an ancient volcano, El Valle is known for its fertile soils and cool temperatures. This is the perfect place for beautiful mountain views only 45 minutes away from the Pacific coast.
Panama City Real Estate- Luxury living has reached new heights in Panama City with projects like the international hotel and yacht club, Trump Ocean Club. In addition, up to 20 more high-rises are in construction along the city’ coast.
• Costa del Este
• Punta Pacifica
Also boasts a modern hospital project that has affiliations with Johns Hopkins University and Blue Cross Blue Shield Health Care.
• Casco Viejo - The “old city” is a unique part of Panama City formed from the ruins of the Spanish settlements. This area has a romantic European vibe filled with cafes, restaurants, churches, and plazas. Most government officials and diplomats reside in this area, and great lengths are being taken to rebuild the historical jewel.
Search our property listings for available properties, or contact us for more information about your specific needs.