Guide to Buying Real Estate in Panama as a Foreigner

Posted on 10/02/2016 ~ Categorized as Invest
David Pierce CCIM
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David is an international real estate investments broker specializing in the Latin American and Caribbean markets. He also markets property developments to the international property market.

Guide to Buying Real Estate in Panama as a Foreigner

Panama is a very attractive country for people of all ages. Retirees especially are flocking to this country, likely because of its attractive retiree benefits. Panama has one of the easiest residency programs in the world with which to obtain permanent residency. This is especially true if you’re a retiree. Gaining permanent residency in Panama as a retiree requires very little, the greatest hurdle being to prove that you have a guaranteed monthly income of just U.S.$600 if you’re single, which Social Security will more than cover. You also get a whole host of other benefits, such as discounts on airfare, medical bills, and groceries. This makes it incredibly attractive to retire to Panama.

Combine the ease of residency with the fact that Panama has one of the fastest growing economies in all of the Western Hemisphere, and it’s no wonder why there is so much interest in buying Panama real estate. Whether you’re interested in buying Panama real estate for a retirement home, a second home, or as an investment, real estate in Panama is a very attractive prospect for many. Foreigners are not barred from buying real estate in Panama, in fact, and they don’t even have to live in the country to do so - which might be the case for other types of investments.

The process for buying Panama real estate is fairly straightforward. Of course, the first step in the process, as with buying real estate in any country, is to get oneself a reliable real estate agent, as well as a reliable attorney. Both of these professionals are crucial in making sure that you obtain what you are looking for, at a good price, and that the real estate is bought in a legal and secure fashion.

Please go here to read the rest of the guide...

(And go here to see our listings in Panama)

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