Once you have started looking at living outside the U.S. or Canada, you might want to consider retirement in Panama’s retirement communities. With world class golf courses, fabulous club houses with pools and restaurants, these properties have a lot going for them. While the prices on these lots and homes are high for Panama – they are still well below market-price in the U.S. or Canada.
There are several advantages to these properties:
1. In Panama, all newly built homes are exempt from property taxes for 20 years!
2. You can feel pretty secure leaving your property for extended periods with a gated community and security personnel or an on-site maid bungalow.
3. You are more likely to be in an expat English-speaking community.
4. You will most likely have a high-end modern U.S. styled home with stylish kitchens, high speed internet, and underground utilities.
5. Some of the more remote developments have a healthcare facility and landing strip for private planes.
6. If you are a rock star and want isolation from hoards of people – this type of residence may be right up your alley.
There are some beautiful homes in fabulous country-club surroundings that you would never be able to afford at home, but there are a couple of downsides too.
1. You will not truly be experiencing Panama by being isolated from Panamanians, who are warm and welcoming people.
2. You will not have wonderful street food in your neighborhood.
3. Many of these resorts are isolated away from towns, so you will have to travel to get groceries and day to day supplies.
4. Healthcare may not be in your neighborhood development.
The market on developed communities is growing by leaps and bounds. We easily found 3 bedroom homes in the $200,000 – $2 million range. You can also rent these properties for an extended period if you just want to give Panama a try for a vacation or for a season. We saw several really nice places along the Pacific side north of Panama City and up in the mountains.
Something to think about!
Photo courtesy of Remax Panama