Where to Buy Property in Panama Part 1

In a brief break from the norm at Amberlamb we have decided to do a bit of a two part feature on where to buy property in Panama simply because there is so much more to this fabulous nation than Panama City - and yet that’s the only location where the vast majority of people are apparently focused.

Because the second HiFX ‘Annual Global Property Hot Spots’ report has highlighted a growing British interest in investment property in Panama, and because others are now touting the property investment potential in Panama, we wanted to help our readers quickly get a feel for which areas of the nation offer what sort of property and what sort of appeal.

According to Paul Collins from BuyAssociation.co.uk you need to be looking at the suburb of Amador and the towns of Portobelo and Maria Chiquita in 2008, and according to the HiFX report, the main reasons why Panama is so popular and gaining ground in terms of investor interest are as follows: -

1) The nation is already popular with retirees particularly from the US
2) The country has an exceptional climate
3) Panama has a fabulous coastline
4) There is a twenty year property tax exemption on residential properties in Panama
5) The country has an already strong and now growing tourism industry
6) There is an abundance of real estate to choose from in Panama
7) And finally, the cost of living in Panama is very affordable.

We agree with all of these sentiments, which is why we have been promoting the delights and attraction of investment property in Panama for years!  Nice to see everyone else catching up with us!

In this Amberlamb feature we will focus on where to buy property in Panama…

Chiriqui Province

Located in southwestern Panama and made up of the towns of Boqueron, La Barqueta, Boquete, Montañas de Caldera, Caldera, Potrerillos Arriba, Hornito, Volcan and the capital of the province, David - this province is gaining popularity as a retirement destination in Panama because the climate is less intense, the cost of living and property is incredibly affordable, the scenery of the region is diverse and stunning and all in all, if you want an emerging location within Panama, the Chiriqui Province could be considered it.

Cocle Province

You can find tourism resorts and hotspots in this central province and some dramatic scenery and excellent beaches.  Locations in Cocle province such as Farallon are especially popular with local and international visitors.  In the vicinity of Farallon you have the likes of the Decameron and Barcelo Resorts as well as residential communities such as Coronado.  Coronado is famous for its incredible amenities like its world-class golf course, equestrian centre and private beach resort.  For tourism related property investment potential as well as high-grade residential real estate options, consider Cocle Province.

Colon

You may be familiar with the name as Colon is the port in Panama for cruise line passengers and it’s home to the Colon Free Trade Zone which is an import/export tax exempt zone for qualifying companies.  As a result there is strong commercial and residential property investment potential in this region as well as an emergence of tourism related real estate, simply because the location is perfect for easy access to Panama City, the Panama Canal and some stunning, coral reef ringed Caribbean beaches.

And finally for part one of Amberlamb’s guide to where to buy property in Panama there’s Herrera

Herrera is another emerging – or even bleeding edge - opportunity in Panama.  The main city is Chitre which has become the commercial center for the central provinces.  It’s a charming location but of maximum interest to property investors seeking brand new potential is the adventure tourism to be had in Herrera…consider this angle for profitable Panamanian property investment potential!

Special Reports: Property News for Panama

Panama for Real Estate Investors
Investment into real estate in Panama is booming because Panama is growing in popularity as a tourist and retirement hotspot.

Panama Real Estate Investment Potential
The range of opportunity for real estate investors in Panama is broad with potential in the residential and commercial sectors

Panama Real Estate Purchase Process
Purchasing titled real estate in Panama is simple but an investor will require the assistance of a reputable property lawyer