Panama: Top overseas retirement destination

[gitano]

If you are asking yourself, why all that Panama construction boom,well, here's the answer.

From ABC's Nightline

http://youtube.com/watch?v=xgl9M8O_PEQ

[brian_b]

I don't think this is the correct place for this thread.

Anyway, yes, some of the more stable Central American countries are experiencing an influx of foreign homeowners.

Never been to Panama, but I have been to Costa Rica and wouldn't hesitate to buy and retire on the Pacific Ocean there. The lifestyle is great, the people are friendly, and real estate is still very cheap comparatively.

If there was much of a market for vacation rentals for smaller (2BR) homes, I would already have one. But right now I can't afford to pay for a house in another country that would sit empty most of the year.

[gitano]

I don't think this is the correct place for this thread.

Anyway, yes, some of the more stable Central American countries are experiencing an influx of foreign homeowners.

Never been to Panama, but I have been to Costa Rica and wouldn't hesitate to buy and retire on the Pacific Ocean there. The lifestyle is great, the people are friendly, and real estate is still very cheap comparatively.

If there was much of a market for vacation rentals for smaller (2BR) homes, I would already have one. But right now I can't afford to pay for a house in another country that would sit empty most of the year.

Brian, watch the video. They are not talking about (2BR) homes, they are talking about high rising buildings 40+ story.
In another thread in this section, people was asking the reason for so many high rising buildings in Panama. Well, maybe, this is the answer.

[Latoso]

If this is being told from the point of view of a U.S. station such as ABC, then the whole overseas bit would be incorrect because if you really wanted to you could just drive to Panama from the U.S.
I would say international or foreign, but not overseas.

[AZheat]

I seriously considered moving to Panama and even got all of the paperwork in order when I took a two week trip there in May. It really is quite an impressive place and I looked at some really nice high rise condos with views of the city and the Pacific Ocean for under $100,000. There is some serious construction going on and the skyline is modern and impressive. I did finally decide it wasn't right for me though. The tropical heat and humidity was really hard to take and an even bigger problem for me was my poor Spanish and the difficulty in communicating with people. I also felt that I'd never really fit in. For those who might be interested it's something to seriously consider. You can get a pensionado visa which allows you to become a permanent resident by showing that you have at least $500 dollars a month in income. However, one thing you can't do is work. They're trying to attract retirees, not people who will take jobs away from Panamanians.

[brian_b]

Brian, watch the video. They are not talking about (2BR) homes, they are talking about high rising buildings 40+ story.
In another thread in this section, people was asking the reason for so many high rising buildings in Panama. Well, maybe, this is the answer.


I did watch the video. I was simply talking about the attractiveness of the area in general. Panama, Costa Rica, and increasingly Guatemala are friendly towards property ownership by foreigners. Prices and cost of living are still very low compared to coastal US areas.

And yes, you can drive to Panama City, but not much farther (the Daríen Gap is the missing link between the South American and North/Central American sections of the Pan-American Highway). But why would you drive that far? Central America is incredibly easy to get to via air from the Central US. The prices for such flights can also be downright cheap as well.

Anyway, when you can fly from Chicago to Panama/Costa Rica in the same amount of time and money as flying to San Francisco... no reason to drive.

[brian_b]

I seriously considered moving to Panama and even got all of the paperwork in order when I took a two week trip there in May. It really is quite an impressive place and I looked at some really nice high rise condos with views of the city and the Pacific Ocean for under $100,000. There is some serious construction going on and the skyline is modern and impressive. I did finally decide it wasn't right for me though. The tropical heat and humidity was really hard to take and an even bigger problem for me was my poor Spanish and the difficulty in communicating with people. I also felt that I'd never really fit in. For those who might be interested it's something to seriously consider. You can get a pensionado visa which allows you to become a permanent resident by showing that you have at least $500 dollars a month in income. However, one thing you can't do is work. They're trying to attract retirees, not people who will take jobs away from Panamanians.

A lot of people just live on tourist visas. I don't know the specifics on Panama, but in Costa Rica you can stay for about 3 months on one. Then you must leave the country for something like 72 hours before you can come back. So people just take a weekend trip to Guatemala or Panama and come back. You can stay indefinitely this way without any sort of income verification.

[Latoso]

And yes, you can drive to Panama City, but not much farther (the Daríen Gap is the missing link between the South American and North/Central American sections of the Pan-American Highway). But why would you drive that far? Central America is incredibly easy to get to via air from the Central US. The prices for such flights can also be downright cheap as well.

Anyway, when you can fly from Chicago to Panama/Costa Rica in the same amount of time and money as flying to San Francisco... no reason to drive.

I agree. My point was that if you can drive there, not that you would want to, then it's not technically overseas. I wouldn't want to drive from Miami, Florida to Fairbanks, Alaska, but just because it's really far and you have to cross international borders doesn't make it overseas.

[manabouttown]

Let me see if I got your point.

I take the ferry from Long Beach to Catalina and I have gone on an over seas trip.

But, if i go to Brasil (that's in So.America) then I didnt go overseas?

I think I got it. Great Point!

[manabouttown]

Let me see if I got your point.

I take the ferry from Long Beach to Catalina and I have gone on an over seas trip.

But, if i go to Brasil (that's in So.America) then I didnt go overseas?

I think I got it. Great Point!

[Latoso]

Let me see if I got your point.

I take the ferry from Long Beach to Catalina and I have gone on an over seas trip.

No. Because you have not crossed the ocean, just a channel of it to get to one of the channel islands. But if you go to Japan and stay there, I will indeed count it as an overseas trip. :P

[manabouttown]

I thought you were making a joke. But you really did think you made a serious point, didnt you? I suppose that is your view of the world from your parents basement.