Retirement Homes and Retirement Communities in Panama

The Republic of Panama has seen an increase in the number of persons wanting to retire and live out the rest of their lives in the beautiful country. The sudden growth of the population can be attributed to the fact that Panama has one of the best visa pension programs available in the world today. Panama itself is very inviting; perfect weather, scores of attractions, low cost of living, low crime rate, affordable real estate and tons of activities to partake in. The rise in number of retirees wanting to make Panama their retirement home has precipitated an upsurge in the construction of retirement homes and properties in Panama.

Panama retirement homes are very affordable. The price of Panama real estate is lower than that of other countries. An added advantage of retiring to Panama is that the laws of the country make it easy for foreigners to acquire real estate whether it is retirement homes or land. Unlike many other countries, foreigners can purchase their retirement homes or any type of real estate and receive the same protections and rights as a citizen of Panama.

Condos are a very popular type of retirement home for pensioners in the Republic of Panama. Condos were once limited to Panama City area but with the increase in the retiree population condo development and retirement communities are being constructed in areas such as Boquete, Coronado, Las Perlas. Panama condos differ in style and sizes. Condos in and around the capital city tend to be high rise buildings but in the mountains of Boquete the construction of condos is fairly new. The condos in Boquete come in the forms of town homes and villas. Panama condos come fitted with modern furniture and amenities. They all have facilities such as pool, fitness centers, and club houses. Condos have different prices which depend on the location, the infrastructure, the services and the amenities offered. However, Condos on the beach front in Panama or with a view of the ocean tend to be pricier than others.

Retirement homes in Panama can be found in small communities often referred to as Retirement Communities. In Panama City there are a few gated communities which the retirees are more inclined to live in. The Costa Este and Costa Sur areas in Panama City have most of the conditions that pensioners favor. Homes in these areas are affordable. In the quiet town of Boquete the construction of retirement communities has began and a two bedroom family home can cost as low as US$150,000.

Retirement homes in Panama are not restricted to just condo units and homes in retirement communities. There are farms, ranches and beautiful modern residential homes available for sale. Land with spectacular views is ready for sale on the real estate market for those persons who choose to construct their own retirement homes.

Retirement homes may not only be purchased there are many retirement homes available on rental basis, generally for long term period (exceeding a year). There are both disadvantages and advantages of renting a retirement home. The drawback on renting a retirement that the retiree is limited to what can and cannot be done to the property, however, on the other hand, if the retiree decides the location is not suitable for whatever reason, the option of relocating is than much less imposing and expensive.

The main areas for retirement in Panama are Panama City, Coronado, Boquete, the island of Las Perlas and Bocas de Toro. People choose Panama City because they want to be close to the entertainment, nightlife and great restaurant and of course Panama City is the main commercial area of Panama. Bocas del Toro and Las Perlas have great beaches and tropical climate and lots of adventure. Boquete is a simple, quiet town in the mountains with lots of fun activities.

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