There are many reasons to retire in Panama. In the first place, Panama real estate is inexpensive. When thinking of the best places to retire, it is important to understand that Panama has a very low cost of living combined with amazing beaches and scenery that propels Panama to the number one spot to consider for those wishing to retire abroad. For those who have not thought about the high cost of retiring in Europe or the USA, Panama should be carefully considered as a legitimate and realistic option when deciding to retire overseas. Your future lifestyle is dependant on it.
From the endless miles of barren beaches to the lush green tropical rain forest and perfect year-round weather, Panama has it all. Even the people are friendly people and don’t make you feel bad for not knowing Spanish, although it is probably a good idea to know. Bottom line is this, if you like Florida but hate the crowds, ridiculous real estate prices and really hate hurricanes, you’ll love Panama!
Prices in Panama
- Steak dinner for 2 with wine and tip… $35
- Lunch for 2 – chicken, potatoes, plantain, bottled water… $6.00
- Movie ticket… $4.00
- Large popcorn at movies… $1.90
- Average taxi ride… $2.00
- Pair of jeans at local store… $6.00
- …the list goes on …Living in Panama …Priceless!
Panama costs less to live!
INVESTORS LOVE PANAMA TOO!
If you are an experienced investor seeking a ‘before the wave’ investment in luxury condos, raw land, beach-front property or you are considering your first international real estate investment, Panama is your choice. When looking for the best place to invest in real estate, Panama must be considered.
At this time, all is ripe for a low risk/high return investment. Panama City is somewhat over-built right now, and you should make sure you’re not paying too much for a condo. Because of the current economy in US (2011), prices are down, and it’s a good time to buy. With a little homework and due diligence, you will find that Panama has all the criteria for a solid investment or retirement destination. Investors and future retires from the USA and England are discovering Panama City, Panama as the hot real estate market to be.
The people are friendly and the Panamanian government is friendlier to foreign retirees and investors. They obviously want folks retiring to Panama and to build homes on the Panama waterfront property, Panama beach front property and mountain property.
Panama is somewhat larger than the state of Florida and bordered on the northern coast by the Caribbean Sea and on the southern coast by the Pacific Ocean. The country of Panama is an isthmus, connecting South & Central America. To Panama’s east is Columbia and to its west borders Costa Rica.
Panama has thousands of miles of beaches, thousands of square hectares of rain forest and even a mountain region with spring-like weather all year long.
- Beautiful Beaches–you can live on Pacific or Caribbean
- Low cost of living
- Luxury High Rise Condos
- Tax incentives
- Safe–Low Crime
- Inexpensive Panama City Hotels
- Pencianado program special incentives for retirees
- Friendly Panamanians
- Grass-fed beef– very healthy
YOU MUST CHECK OUT RED FROG BEACH!!
When you think of a beach, what comes to mind? Clear water, white sand, Palm trees? Red Frog Beach has it all. It is probably one of the most beautiful beaches on the Caribbean side of Panama. It is a high-end property, but well worth a look. Red Frog Beach is located in Bocas del Toro.
Panama Is the Best Retirement Destination in the World!
Residents of Panama pay now tax on foreign-earned income, so retirees can own businesses and investments in the US, and pay no tax in Panama. This is an excellent way to boost your retirement income. Even if you have no current investments, once you’re living in Panama, with its low standard of living, you can definitely afford to invest.
Foreigners can own and buy property in Panama and enjoy the same rights and protections as any Panamanian citizen. What’s more, all new construction enjoys a property tax exemption, applied on a sliding scale according to value. So you can afford to build your dream home in Panama.
There are major infrastructure projects in the works in Panama which include: better roads, new economic zones rich with tax incentives, there will even be high-tech incentives. There is a huge 15 billion dollar project underway to widen the Panama Canal. This alone will present numerous investment opportunities in Panama City and the surrounding areas. The Panamanian government is working hard to make Panama ‘THE’ destination of choice for everyone considering retiring abroad. They are working towards a very stable, robust economy.
More Reasons to Retire in Panama
- Solid Economy
- Modern urban center with amazing US-like malls and shopping
- 150 banks from all over the world
- Panama ranks as one of the most important banking countries
- Panama Canal: due to its strategic and economic value, the USA is not going to let anything change in Panama.
- Has the lowest inflation rate in Central America(recently 2.5%)
- Stable Currency—It is matched on a 1:1 basis with the US dollar. Frankly, they use the US dollar for all transaction but coin change.
- According to the Pinkerton Intelligence Agency Panama was given a safety rating in the highest class according to a recent global survey (same as the United States). In other words, Panama is among the world’s safest places.
- Grass-Fed Beef: yes Panamanian cattle are still grazed and are not grain-fed…much healthier
Read more about pencianado program.
- Low Cost of living–from food, beer & wine to coffee, pizza and clothes…low, low prices!
- Panama City boasts world-class malls comparable to anything in the USA
- Beautiful Beaches: Bocas del Toro, San Blas, Red Frog Beach and more.
In addition, the government really wants tourism and retirees so they have created an amazing list of incentives.
Yes, more and more people are talking about it, Panama is one of the best places anywhere to retire today. They have one of the world’s best discount programs for retirees.
AARP rated Panama “the fourth best retirement place in the world.”
Compared to other retirement destinations such as Mexico, Florida, Costa Rica and others, Panama has more top restaurants, lower costs, and most importantly, less crime.
For even more reasons, check out our article on Why to Retire in Panama.