The International Agent - June 2008
In reality, Panama is a very small country with a tiny population punching well above its weight. Panama's strategic location has long commanded a very heavyweight geopolitical position on the world stage and this is helping to propel the country to near meteoric socio-economic growth. This is the perfect fodder for a boyant property market in this emerging market. In Panama today, bouancy is not the word. a better word to describe this small country's rapid rise would be spectacular.Panama has one of the largest shipping fleets in the world, its canal and canal expansion is driving construction and housing prices through the roof as demand from relocation multinationals and services rises inexorably. Duty free zones around the canal also number amongst the globes largest.
The country's strategic geographical position put Panama right in the middle of two masive potential markets, namely North and South America. Some already call Panama "Hub of the Americas". Others liken Panama to Singapore.
Panama has strict investor protection laws as well as many favouable tax, residency, and legal incentives for investors.The government is absolutely hell-bent on tempting foreigners to live and invest in Panama; some of the most sophisticated tax and fiscal incentives anywhere in the world continue to attract American and European buyers.
Current foreign exchange advantages between European currencies and the ever-weakening US Dollar make investing in Panamamuch more feasible, simply as an investment. The cost of living is relatively low compared to Europe and you can enjoy a standard of living inconceivable in the U.K.
International Living - 30 June 2008
Allow me to introduce myself. I'm Martina Dunphy, executive director of International Living.
One of the benefits of working for IL, is exploring the most exciting places around the world. But I have to say, Panama is one of my favorites. I lived there myself. And I still miss my walks in the old quarter... the cobbled stone roads, the cafes... the restaurants.
In many ways, no city on earth compares with Panama City and no country offers more value than Panama. The benefits, appeals, attractions, and pluses of life in this town are too many and too big to ignore any longer:
- In my experience, living in Panama gives you a great quality of life... but I don't have to sell you on this point. You realize this already. This is why Panama has always ranked in our top five of Annual Global Retirement Index hitting number one and earning the title of The World's Top Retirement Haven for six consecutive years.
Panama boasts affordable first-world health care... the world's best pensionado program of special benefits for foreign retirees... modern, First-World infrastructure...
...world-class shopping... fantastic beaches - literally minutes outside downtown... affordable real estate... a low day-to-day cost of living... close proximity to North America...
Panama is one of the world's top retirement havens, one of the world's handful of remaining banking and offshore havens, and the most international, cosmopolitan town in the region.
- Panama is changing at light-speed right now. This is an exciting, critical time in Panama's history. The city's skyline is literally remaking itself month to month. New condo, apartment, and office high-rises are breaking ground weekly... new malls, new shops, new businesses. I barely recognize the place one visit to the next. This is one of the fastest-moving real estate and business markets I know right now - poised to move at even greater speed now with the Panama Canal Expansion Project underway.
International Living - 16 May 2008
"Panama where the demand for accommodation is so high, you can't book a hotel room, sometimes for five months in advance...After Spain, developers set their sights on Dubai and Panama. Panama was the obvious choice to attract American buyers. It uses the US dollar for its local currency. Panama charges no income tax on foreign income, and has a stable, development-friendly government. After the developers made their move, prices took off. Beachfront lots that were once $25,000 went up 5 to 10 times that price..."
International Living - 9 May 2008
"Panama has long been the prime choice for retirees, second-home buyers, and property investors alike. Readers have retired in style, enjoyed terrific vacation homes, and made money. The country deserved the #1 spot on our Global Retirement Index for six straight years."
Financial Times - 13 May 2008
The flow of investment dollars into Panama continues at a breathtaking pace,
New York Post - 13 May 2008
"On a promontory jutting out 100 acres into the Pacific, Panama City's 17th-century Casco Viejo or Casco Antiguo (old quarter, also known as San Felipe) is as ravishing as any colonial cityscape in the Americas - gracious, glorious shades of Old San Juan, Old Havana and Colombia's Cartagena. El presidente presides along these red-brick streets in a handsome white manse, and the minister of tourism, salsa legend Ruben Blades, lives several blocks away."
The International Agent - April 2008
"Panama benefits from the lowest inflation rate and the most stable economy in Latin America. Panama was given a safety rating in the highest class, thus meaning it's amongst the world's safest places. Significant tax incentives are offered to investors in Panama. There are no exchange controls in existence, foreign investment is welcomed and can be freely repatriated so extracting gains from Panama is no problem. If you are looking for great beaches, then look no further than the beaches of Panama Bay; amongst the finest on the planet.
Panama is probably where Dubai was five years ago for real estate investment. In other words there's some good profits to be had."
Daily Mail - 14 March 2008
"Besides the raft of celebrities such as Mick Jagger and Bruce Willis who have reportedly bought properties in Panama, investors are also touting this squigle of a country as one of the year's hottest investment locations.
A low cost of living in a U.S.dollar economy, a good year-round climate, tax incentives have made Panama one of the world's most sought-after retirement destinations. Politically and economically stable offering a enormous amount of potential, Panama is booming and prices have risen 22 per cent in the past year.With more than 30 skyscrapers are being built in Panama City, it is turning into a Manhattan or Dubai."
Overseas Property Professional - March 2008
"A number of tax benefits are enticing second-home purchasers to Panama. Rentals of condo units on the Pacific coastal region are set to increase tenfold within the next few years.the economy is the fastest growing in Latin America and is expected to grow by 11% this year against 8% in 2006 and 2.2% in 2005. House prices, too,have been booming and over the past three years have increased by around 25% a year. Panama is already one of the most popular retirement destinations for US citizens, and the combination of this economic boom, its stategic central location, the tax regime, and the all-year round climate has turned Panama into a popular location for citizens from all over the world including Venezuela, India, China, Russia, and Europe. The weakness of the dollar has also helped make property in Panama especially attractive for European buyers. North Americans, Canadians and Europeans are looking to Panama as an attractive option for relocation, retirement and investment, and low cost of living as a second-home or vacation destination"
Continental Airlines In-Flight Magazine
"Panama has many of the same attractions as Costa Rica including mortgage financing, title insurance, and an easy process for buying a second home but at much lower prices."
