The idea of living in paradise is appealing to everyone, and Latin America has become a hot spot for people seeking their own land. While there are many beautiful areas in Latin America, not all of them are ideal for foreigners. Safety and economic conditions are obvious concerns, especially considering that many of these incredible places can have high crime rates, hostile populations, uncertain economic climates, and unstable governments. The allure of exotic wildlife, a relaxed pace to life, waterfalls, volcanoes, rainforests, beaches, and oceans is undeniable. For most, the question is where to purchase real estate. Panama is growing in popularity with tourists, as well as foreign investors seeking real estate in Panama. Because of old government policies, Panama real estate was not available to foreign investors. Since power has changed hands, development has only begun in the last twenty years. Much of the real estate in Panama for sale is on undeveloped land. Aside from the natural beauty in Panama, there are a number of reasons to consider this location when looking for property.
Panama has a much lower crime rate than other countries in Latin America. In addition, there are many benefits for foreigners. If you purchase real estate in Panama, you will not pay property taxes on it for twenty years. Any foreign-earned income is not taxed. The U.S. dollar is also accepted as currency, so there is no need to worry about fluctuating exchange rates. The cost of living is also considerably lower than major U.S. cities. The Panama Canal’s huge port drastically lowers the cost of manufactured goods. Everything, from microwaves to cars, is less expensive in Panama than in other countries, even the U.S. And for those who are retired, discounts of up to 50 percent are available nearly everywhere- from restaurants to doctor’s offices. Another bonus is the high number of English-speaking citizens, especially in urban areas. The United States also had a heavy influence in Panama until about ten years ago because of the canal. This influence means that many large American franchises are present in Panama.
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