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Written by Worldwide Properties
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While Panama is known mostly for its famous canal, the country's natural attractions offer an irresistible lure to far-sighted travelers. This oft-overlooked country offers some of the finest birding, snorkeling and hiking in the Americas.
Panama's charms include its stunning coastline of palm-fringed beaches, its astounding wildlife - boasting an incredible diversity of tropical birds - and its proud, vibrant indigenous peoples, such as the Kuna. While in Panama, you'll find it hard to shake the inescapable feeling that you're in on a secret the rest of the traveling world has yet to discover.
Panama's dollarized economy rests primarily on a well-developed
services sector that accounts for three-fourths of GDP. Services
include operating the Panama Canal, banking, the Colon Free Zone,
insurance, container ports, flagship registry, and tourism. Economic
growth will be bolstered by the Panama Canal expansion project that
began in 2007 and should be completed by 2014 at a cost of $5.3 billion
(about 30% of current GDP). The expansion project will more than double
the Canal's capacity, enabling it to accommodate ships that are now too
large to transverse the transoceanic crossway and should help to reduce
the high unemployment rate. The government has implemented tax reforms,
as well as social security reforms, and backs regional trade agreements
and development of tourism. Not a CAFTA signatory, Panama in December
2006 independently negotiated a free trade agreement with the US,
which, when implemented, will help promote the country's economic
growth which running at 7.8% for 2007.
There are a wide variety of
options available to the foreign investor, from modern high rise condos in Panama City to beach lots, islands and mountain
homes in the cooler regions of the Chiriqui Province.
The
current popular area for retirees is in Boquete, which is a small town
in the mountainous, Western region of Panama. Prices vary greatly based
on the popularity, level of development, who is the seller and who is
the buyer.
Great deals are still readily available to investors in
Panama, unlike more popular retirement destinations worldwide. Cost of
construction is more affordable than the U.S. and Europe but varies
greatly depending on materials and the construction company. One nice
benefit of the Panama Canal is that just about any material you could
desire is available at reasonable prices.
Click here For a completet list of Property for Sale In Panama Click here for Details concerning Immigration and Retirement to Panama
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