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Panama...A Fabulous Investing Opportunity
Posted by V.K. [Mel] Melhado P.A. on Thursday, December 21st, 2006 at 4:41pm.
I recently returned from an exploratory trip to Panama, where I spent a full week investigating why the country of Panama was absolutely on fire with people from all over Europe and the United States buying property. In that short amount of time, I learned a great deal about the country and its people, as well as the reasons that make this literally the ‘hottest’ country on earth for investing. Panama is currently experiencing a steady stream of Americans who are retiring and living full time there. The reasons are many, not the least of which is the very low cost of living. Here are some of the other reasons that makes Panama an attractive investment:
- Panama is fast becoming one of the world's top retirement destinations and also a world class tourist location.
- The American dollar is the currency of trade, making it easy for everyone. English is the second spoken language, with many Panamianians speaking it fluently.
- The cost of housing is quite inexpensive compared the United States, and if you purchase new, there are no tax implications for 20 years and a host of other financial retirement incentives.
- Medical services are excellent, with Johns Hopkins making a major investment in their state-of-the-art facility in Panama City.
- With the signing of the Free-Trade Agreement, 5.25 Billion dollars will be spent on the widening of the Panama Canal, which will help in creating an even more thriving economy.
- Unlike its neighbor, Costa Rica, Panama has a good solid US style infrastructure. The roads are excellent, with many having been built by the Americans, when they controlled the Canal.
- Panama has a perfect location for every taste; from a cosmopolitan capital city to palm fringed black sand beaches, cool mountain climates and tropical rainforest resorts.
V.K. [Mel] Melhado PA
Downing-Frye Realty, Inc.
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