(PanamaGringo) One of the questions I hear so often when talking about Panama is “What are property prices like in Panama?” If you crave the ocean air, warm beaches, tropical climate and are willing to live without many of the unnecessary conveniences that many of us have grown accustomed to, then oceanfront property in Panama may be a perfect place for you to think about buying property. A chunk of comparable beach front property in the states goes easily two or three times higher than in Panama.
For example: this beach front lot that I just found in Chiriqui Panama is priced around 66 thousand. In the states you may be looking at millions for a similar sized lot in certain areas. So I took a quick look at something small but beachfront in California. Someone could build a house ten times this size in panama for what they would invest in this lot. Condos in Panama City are going for nearly half as much as places in popular American cities, and always hold rental potential as well as a possible retirement pad.
I highly recommend spending at least six months in Panama before deciding to invest in property. However, if you love Latin culture and tropical weather I highly recommend taking the time to check out the culture and real estate scene in Panama. Whether you want a high-rise penthouse in El Cangrejo or a simple cabana on the Azuero you will likely spend half as much as in the united states and have the opportunity to experience a beautiful, spirited and incredibly affordable place.