Panama Pricing Right On for Retirees
February 6, 2007 by admin
Filed under Residential Relocation
One of the most important factors driving Panamanian real estate is its affordability. What other first world city offers an ocean view condo unit in a luxury high rise for under $200,000?
Impressed by how far their money goes in this Central American paradise, Ex-Pats from around the world head for Panama when its time to retire. The special visa the Panamanian Government has created for retirees, the pensionado (retirement) visa, provides retirees with discounts in airlines, hotels, food, utilities, entertainment
A key strategy for retirees is to sell their home in their native country, then replace it in Panama for a fraction of the price. This leaves equity in the bank to fund a life in paradise.
Domestic labor is also very affordable in Panama. $300 a month will garner a full time domestic to handle cleaning, cooking, and other household chores.
The list of essentials that cost less in Panama is a long one. In broad strokes, American and Canadian Ex-Pats find that they can improve their lifestyle in Panama for about half of the costs back home. Europeans and Pacific rim immigrants find an even bigger improvement.
At retirement time, stretch your money, as you stretch your legs, discovering the wonders of the gem of Central America; Panama.
