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Why is Panama Real Estate so hot right now?

Long considered a shipping hub and offshorerestaurant meals, 20% off doctors
banking center for the Americas, Panama isconsultations, etc. Panama is also one of
enjoying an economic boom on a scalethe best, if not the best, residency deals in
unmatched since the construction of itsthe world today. For the price, the
famous  canal  93  years  ago.benefits are incomparable. For instance,
you can invest $40,000 in a government
The country is luring investors andapproved and potentially very lucrative
expatriates worldwide, with interest furtherreforestation project. This will yield a visa
boosted by the recent approval of a $5.25to the investor, spouse and dependant
billion plan that will double the canal'schildren.
capacity.
Panama's modern amenities are similar to that
The real estate frenzy is fueled by a strongof North America, making life a bit easier
economy, government incentives for foreignday to day. The communications work, you
investors, modern amenities, attractive costcan drink the water from the tap, there's no
of living, world class healthcare options,currency exchange issue, and it feels like
fantastic recreational activities and ahome. Visitors and residents alike value
saturated US housing market for retirees hasthe diverse choices Panama has to offer,
attracted speculators and prospectivehaving the opportunity to escape to a
residents  from  California  to  Dubai.pristine beach but not sacrificing the modern
conveniences such as a contemporary road
These investors are purchasingsystem, high speed internet access and cable
preconstruction bay front apartments,television.
highland villas, and the latest luxury
development from Donald Trump -- a $220Panama has one of the lowest costs of living
million 65-story residential, office, andin all Central and South America: A
hotel complex called Trump Ocean Club, withU.S.-style home can be built for about $40
towers  shaped  like  a  yacht  sail.per square foot; unskilled labor costs $6.40
per day; a full-time live-in maid costs $120
The Panama real estate market is directlyto $160 a month; a beer at a bar costs 35
linked to the overall economy, whichcents; a cup of coffee, 30 cents; a haircut
continues to exude stability and growth.and shave can cost as little as $2; an
Panama will lead economic growth in all ofafternoon at a beauty salon is $8;
Latin America and the Caribbean in 2007 at aelectricity is about 10 cents per
rate of 8.5%, according to an economic studykilowatt-hour; water bills are $18 per year;
of the region. José Luis Machinea, thetelephone service costs roughly $30 a month;
Executive Secretary of the Latin AmericaInternet access is $14 a month; wireless is
Economic Commission (CEPAL), made theavailable for a bit more; cellular-telephone
announcement  in  Chile.service costs about $30 a month plus a
per-minute charge of around 22 cents; and
A few things including the recently signedcable  TV  will  cost  you about $30 a month.
United States - Panama Trade Promotion
Agreement, fuel the growth. The agreementYou won't fall short of recreational
is a comprehensive trade agreement that willactivities in Panama. With two coasts,
eliminate tariffs and other barriers to tradethere are world-class water sports available
thereby strengthening the century oldsuch as fishing, diving, sailing, etc.
geostrategic partnership between the US &Given its geographic location, Panama is one
Panama. The Canal expansion, another majorof the worlds best bird watching spots. The
boost to the economy, is expected to bringjungles of the interior have fantastic rivers
tens of thousands of new jobs along withto run and fish. The options are
long-term incremental revenue for theendless…
country.
The dream of owning a second home, retiring,
The Panamanian government has made a point toor making an investment in a tropical
offer numerous incentives to attract foreignparadise can become a reality in Panama.
investors. These including new constructionWhatever your preference, there is a
property tax exemptions, a very lucrativesomething for everyone. Panama real estate
Pensionado (retirement) program that includesis hot right now…don't wait to stake
discounts such as 50% off entertainmentyour claim!
prices, 25% off airline tickets, 25% off



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