Central America’s most modern country, Panama is a paradise of dazzling white sand beaches, tropical rainforests and warm year-round temperatures. Varied natural riches, from cloud forests to mountains and beaches, along with historical and cultural sites can be found throughout the country. A steadily growing real estate market and increasing tourism have resulted from international recognition of all that Panama has to offer while The International Monetary Fund predicts Panama to surpass Peru to become Latin America’s fastest growing economy in 2009.
Much of Panama is covered in rainforest and vegetation while the weather is tropical which means warm to hot temperatures all year round. In a country of remarkable natural beauty there is also to be found modern conveniences. Panama real estate is one of the best areas for investment as property values have been rising for years while the cost of new properties are tax-exempt for 20 years. Many looking to retire have found retirement in Panama to be a dream come true, where they enjoy beachside living and an active or relaxed lifestyle at very affordable prices not to mention tax advantages and retiree discounts. If you are interested in learning more about what Panama has to offer you, contact us at Homes Waiting International and get the latest in the hottest Panama properties on the market.
Live in luxury at a fraction of the price. Invest in Panama Real Estate.
Why Panama?
Over the past years, Panama has become one of the hottest locations on the market today. With low prices, beautiful beaches, safe neighborhoods, and a great retirement plan, more and more American investors and retirees are flocking to Panama. The combination of beauty, comfort, low-cost of living, financial benefits, and incredible profit potential has made investors' mouths water. Among these savvy investors is Donald Trump, who will be building a luxurious oceanfront high-rise in Punta Pacifica.
Panama property has the unique advantage of being driving distance from shimmering miles of beaches, verdant valleys, glorious mountains, flourishing tropical forests, and bustling city life. It boasts beautiful weather year-round and wonderful sights and activities. And now, Panama has some of the most impressive pre-construction properties you've ever seen at even more impressive prices.
Panama Economy
Panama's booming economy is attracting some serious entrepreneurs in search of worthy Panama investments. This means better projects and businesses open up, and more opportunities are made available to Panamanian locals. As a result, Panama is continually expanding and discovering new business arenas. In October 2006, Panamanians approved an ambitious plan to expand the Panama Canal. The project, which began in 2007 and to double the Canal's capacity, is expected to be completed in 2014-15. In December 2006, Panama independently negotiated a free trade agreement with the U.S. helping to promote the country's economic growth even further. For the past two years, the economy has been growing at an astounding rate of around 9.5%, topping all other Latin America countries.
Living in Panama
Panama has a warm, but diverse climate- the lowlands of Panama are hot and can be humid, yet there are year-round cooler temperatures in the mountain areas.
As a result of the array of locations Panama offers, it also offers a diversity of lifestyles. For example, you can seek the tranquil shores of Bocas del Toro, the rich history of Colon, or the beehive of activity in Panama City. Not only is Panama property affordable, but Panama itself is affordable. You can enjoy a nice meal at a restaurant for under ten dollars, or shop till you drop at Panama's impressive boutiques.
In Panama, you can afford to really live the way you've always dreamed, and still pay just a fraction of what you would pay in the United States or Europe. That is why so many people have opted to retire in Panama. Panama's proximity to the U.S. is an added benefit for people who are interested in owning a vacation property where they can escape to quickly. Just a two-hour plane ride from Miami brings you to Panama City and once you arrive in Panama there is no need to worry about exchange rates because Panama's currency is the U.S. Dollar. English is widely spoken throughout the country and just about everywhere you go, you will find high speed internet, good cell phone coverage, fast install of home and business phone systems, and TV with English speaking channels.
Panama Real Estate
Panama is quickly becoming more diverse, more ambitious, and one of the greatest real estate investments of our time. The Panama real estate market offers what few others can: brand new construction in beautiful Panama for a small fragment of the cost. In addition, the new construction projects in Panama are stacked with wonderful amenities and services. Not only is Panama real estate beautiful and diverse, it's also extremely affordable, which is why retirees from all over the world are looking to Panama land for their piece of paradise. Panama is one of the few places left where you can still find amazing island and beach property at a reasonable price. Whether you choose to live, vacation, or invest in Panama, the possibilities are almost limitless.
Among the numerous perks that Panama has to offer, including turquoise beaches, exotic wildlife, a lush landscape, and a vibrant city life, the Panamanian government has sweetened the deal with quite a few incentives for investors. There aren't any property taxes for retirees until a home is sold and 20-year exoneration from taxes on new homes. There are discounts of up to 50% for retirees on things like transportation, medications, hotels and restaurants. Retirees find more for less in Panama and Panama's Pensionado law is written so today's pensioners will be protected tomorrow.
The Panama real estate market is so impressive you have to see it for yourself. Month after month, new projects expand, new businesses open, more and more people are discovering the beauty, the diversity, and the luxury Panama offers. We welcome you to our site, please check out our listings and high-definition photos, and feel free to browse to your heart’s content, and when you are ready to discover the amazing opportunities Panama has to offer, don't worry, we'll be ready for your call.
Financing
Homes Waiting International will assist you through the entire financing process once you have decided on your real estate purchase. We have partnerships with the most-trusted international and domestic banks providing you an extensive range of financial services that is reliable and efficient.
Financing Details
· Financing is provided for between 60-70% of the purchase price or appraised market value (whichever is lesser)
· Interest rates begin at 6.5% plus FECI 1% annually
· 20-year term for financing
Personal/Corporate Bank Account
· A bank account must be opened in the country of purchase maintaining a minimum balance equal to 3 monthly installments from which loans will be deducted
· The client must meet with the bank lending officer
Required Documentation for Mortgage Pre-Approval
· Two copies of passport
· Two bank reference letters
· Copy of signed Purchase and Sale Agreement
· Copy of last three personal income tax declarations/business income tax declarations or audited financial statements
Panama 