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Real Estate

Panama has been called the “Next Costa Rica” in regards to purchasing land, and retiring. The only difference is that Costa Rica has already undergone its change over, and the prices are considerably higher than in Panama. The Panamanian government is very forward thinking in this regard, and is already redoing the infrastructure of the country. The roads are getting better by the day, and all the “comforts of home” are becoming readily available. It was once said that if you own your home and car it would be nearly impossible to spend $1000 per month while living in Panama. The retirement benefits are very appealing to many North Americans.

The price of land in Panama is not a steal, but still very reasonable. At this point in time land value is escalating Rapidly. The first question usually asked is, “can you OWN the land in Panama, or do you just lease the land”. The answer is a resounding YES you can OWN your land and pass it down to your family, just like in the United States. Actually not only do you own the land but the government seems very interested in keeping your purchases private.

There are a few little things that can cause problems for North Americans purchasing land. There are different categories of land in Panama, and we can help you navigate these unfamiliar issues. Most Panamanians do not have the same needs as North Americans, and at this time there is a learning curve being addressed. For instance, they have no need for waterfront property. It is just land they can’t graze cattle on. Many North Americans have a real longing to live on the beach and watch the ocean come rolling in. As a result there are many ranchers who own land on the ocean, and are slowly giving in to those wishing to develop this ocean front property. Because we are in the area, we hear about these properties and can put the two parties together.

There are already areas in Panama that are being populated by North Americans, however the area we are in has not yet been developed. It is undergoing a change but it is still very slow at this point. We would be happy to assist you in finding property for you to purchase and build on. Building costs in Panama are VERY reasonable, however, like the land these costs are going up dramatically. While our main business at Reel Inn is exotic family adventures, we would be happy to assist you in purchasing property in Panama. Please feel free to contact us on this matter.

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