Master The Art Of Real Estate Panama

Out of this era, the first “real estate panama” was erected, including numerous stone buildings. In the 16th century, these buildings were element of Panama's city center, known today as Panama City “La Vieja,” which was destroyed by the pirate Henry Morgan in 1671. Nowadays, these buildings provide Panama City with a lovely historical landmark. The sum total destruction and looting led to the construction of a fresh Panama City in 1673, that will be better known today as Casco Antiguo, named a heritage for humanity by UNESCO in 1997 and is presently one of many city's most valuable real-estate sectors.

After crossing Panama, Vasco Nuñez reached the Pacific Ocean, and it was then that the Isthmus gained importance as a passageway, that will be still true today.Since the Spanish Conquest, Panama has held a privileged geographic, commercial and cultural position. Panama was visited by Europeans in 1501 on an expedition led by Rodrigo de Bastidas. Santa Maria la Antigua del Darien was the first city on “terra firme”, founded by Christopher Colombus.

Alongside Punta Paitilla is Punta Pacifica, an up and coming residential zone undergoing an immense number of construction, such as the popular Trump Ocean Club, among other breathtakingly beautiful high rise towers, all with unobstructed ocean front views.From Avenida Balboa you can actually observe the stark contrast between yesteryear, present and future of Panama. At one extreme is Casco Viejo, the oldest city on the Pacific Coast of the Americas. Casco Viejo's architecture is a combination of influences from the Spanish Explorers and French Colonial, from the first attempt created by the French to construct the Panama Canal. Punta Paitilla, also visible from Avenida Balboa, is a well established residential zone possessing the best concentration of skyscrapers in Panama City.

The Real Estate Boom in Panama – A Property for Everyone

Panama's unique characteristics, such as for example its circulating currency (the United States dollar), social and political stability, the warmth of individuals and the beauty of the surroundings, have converted Panama into a well liked destination for all travel buffs. Furthermore, these same characteristics have provided the fuel for the real estate boom currently taking place in Panama.

Though Panama is small in dimensions, its variety of real-estate is huge. The spectrum of Panama real-estate includes properties on deserted islands, spectacular beaches, highland estates and apartments in the center of the metropolitan Panama City. Panama offers unparalleled opportunities for investors, businessmen and retirees buying change of pace.

In Panama's highlands, you can find a delicate climate, ideal for farming, raising livestock or simply enjoying oneself. The product quality and beauty of its beaches and crystalline waters, on both Pacific and Atlantic coasts, separated by way of a two hour drive, leave many breathless and yearning to return. Or, even better, purchase real-estate and allow it to be an additional home or retirement destination.

Panama City, the capital of the Republic of Panama, is a bustling and fully functional business center, possessing all the comforts of the first world, as well as all the vitality and liveliness of its yearly “Carnavales” parties.

The real estate boom in Panama could be attributed to various factors. Firstly, legislation was passed providing incentives for developers and buyers, including extremely beneficial exonerations and subsidies for the real estate industry in Panama. The favorable laws have attracted popular, powerful foreign investors to Panama, including Donald Trump, who is developing the Trump Ocean Club, a task which includes a resort, casino, yacht and beach club and condominiums, among other comforts.

Thanks to these and other advantages, the industry experiencing the largest number of growth in Panama is real-estate, with over 70% of projects created for retirees from North America and Europe.

Investment Opportunities in Panama

Panama's beauty and benefits has contributed to its international fame as a favorite destination for retirees, given its comforts and low cost of living. In Panama, there are now around 15,000 North Americans that can live well on $2000 dollars per month.

Furthermore, 30-year financing is available from recognized financial institutions for approximately 80% of the property's value. However, please seek the advice of a legal professional.