Panama real estate is the hottest commodity available on the real estate market today. Located in Central America, the Republic of Panama attracts United States, European and Canadian retirees like a magnet. The retirees fall in love with Panama for various reasons including cheap real estate, perfect weather conditions, affordable cost of living and entertainment. The escalation of the number of persons who choose to retire to the Republic of Panama has caused a boom in real estate in Panama.
The most sought after real estate merchandise in Panama is the Panama condo. In the past condominiums were restricted to the capital, Panama City but the sudden increase in demand for them has caused their construction in towns such as Coronado, Boquete, Bocas del Toro, and Playa Blanca. The Panama condos in Panama City are limited to high rise buildings where as in other areas they come as villas, townhouses etc. Facilities available in most Panama condos are gym, pool, game room, spa, medical center. Some condos come with their own golf course. This particular type of Panama real estate is available for sale or rent. A Panama condo can be bought for as low as US$150,000.
Undeveloped land is another form of Panama real estate being sold very quickly. The province of Chiriquí is one of the main areas in Panama where people buy land. Boquete in Chiriquí is home to many retirees who have taken advantage of the price of real estate in Panama. The diverse landscape and real estate property includes farms and ranches with streams running through the property being sold. Land in this area can cost as low as US$9 per square meter. A small price to pay for magnificent mountain views in a peaceful community.
All over the beautiful country of Panama there are real estate properties available for rent. There are a number of apartments, commercial office space, homes, beach homes, condos and country houses for rent. Properties available for rent in Panama come furnished or unfurnished depending on the wishes of the clients. The real estate properties are rented out on weekly basis, monthly basis or long term. Rent for a two (2) bedroom, 2.5 bathroom beachfront home can cost as low as US$1200 monthly. Rents in general will be based on location, amenities, services and quality.
In Panama there are many beautiful and luxurious Panama homes for sale on the real estate market in towns such as Boquete, Bocas del Toro, and Sora. Purchasing such real estate makes relocating to Panama much easier. Buying developed real estate such as finished homes, condos, etc, relieves the owner from having to go through the complications and the hassle associated with construction. Prices for homes in Panama are very affordable and considered low. A two bedroom house can be bought for the low price of US$75,000.
Purchasing any type of Panama real estate is an uncomplicated process. The laws of the Republic of Panama guarantee foreigners the rights to purchase real estate just as a citizen. This makes acquiring in Panama very easy when compared to other countries where permits have to be obtained from the authorized government department before any type of real estate can be purchased by foreigners.
The process of buying or renting a Panama home or making a Panama real estate investment in Panama can be tiresome and lengthy, further, if Spanish is not your native tongue it is best you seek the services of a local attorney and work through registered real estate agent who will be able to provide you with efficient service.