According to Lonely Planet, Panama City is “the most cosmopolitan capital in Central America,” and a thriving center for both trade and international banking. Often, the residents refer to the city jokingly as the “Miami of the South” since it has a similar environment (though possibly more spoken English compared to today’s multilingual Miami!).
There are many reasons people are seeking out real estate investment opportunities in Panama City. It’s the right time to hit the market — because of Panama City’s central location, it’s an ideal spot for relocation without getting too far away, and can also serve as a business hub for companies looking to expand into Latin markets. Are you interested in Panama City real estate? Here are four signs that the Panama City luxury lifestyle is the right match for you.
1. Live Large With Less Money
In a recent survey by the Economist Intelligence Unit, Panama City popped up as the third cheapest city to vacation in — and it’s not as hard to get to as Jeddah, Saudi Arabia. Panama City has one of the fastest growing economies in Latin America, and that has allowed for positive growth while still keeping the price of long-stay tourism relatively cheap.
2. You Like a Variety of Adventures
It’s easy to get around in Panama City, and there’s lots to do. This isn’t a city for retirees who are hoping to sit in a room and never leave. You can walk through the old city of Casco Viejo, which is home to the beautiful Plaza de Francia. You can also explore the local rainforest and zipline from tree to tree, getting a bird’s eye view of the beautiful Gatun Lake.
3. You’ve Retired and Want to Enjoy Great Benefits
In Panama, there are many people called “pensionados” — these are American retirees who, so long as they have an income of at least $1,000 a month (this can be a pension or social security), can enjoy a gold standard of overseas residency. The pensionado program allows you to receive big discounts on everything from 30% off boating fares to 50% off movie tickets.
4. You Want Luxury Property at a Competitive Price
Everyone’s looking for good real estate investment opportunities. If you’re looking for a great place in an up-and-coming city, you’re probably not looking at New York City anymore, where prices have long since skyrocketed. Panama City is the place to be for luxury real estate at attractive prices.
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