Enjoy Life: Retire to a Luxury Home in Panama
When it comes to selecting the perfect place to retire, Panama ranks near the top of the list. Many consider Panama to be the most stable of the Central American countries. The country has a democratic government with elected executive and legislative leaders. Panama's service sector accounts for 80 percent of its GDP; major services include operating the Panama Canal, insurance, banking, a free trade zone, and tourism. Panama assumed control of the Panama Canal Zone in 1999; the current expansion of the Panama Canal Zone enhances economic growth. And there are even more reasons to build a luxury house in Panama.
The narrow isthmus that makes up Panama connects two continents and has a rich diversity of plant and animal life, with nearly 1,000 species of birds. The rainforest is easily accessible from Panama City. The Camino de Cruces National Park is one of many natural resources. Panama City itself is a sophisticated, cosmopolitan city with similarities to Miami, Florida. The Panama Canal Museum traces the fascinating history of this extraordinary construction project. The old quarter of the city gives the flavor of years gone by. And the Panama Canal, the "eighth wonder of the world," is exciting to visit. Other attractions include the mountains, beaches, and historical sites.
Panama is just beginning to promote itself as a tourist and retirement destination, which means real estate in the Canal Zone and throughout the country is still reasonably priced. The economy is growing: Expectations for direct foreign investment in Panama exceeded one billion dollars for 2009. A regional growth of over four percent is projected through 2010.
The country of Panama welcomes retirees. In addition to the low cost of living, retirees receive discounts in mortgage rates, public transportation, and utilities. Retirees can enjoy luxury homes in beautiful locations at affordable prices. Once available only to the wealthiest of the wealthy, luxury living in a tropical paradise is now a realistic option for many American retirees. Foreigners who buy land in Panama have the same rights and protections as Panamanian citizens. New construction may qualify for property tax exemptions, and residents do not pay taxes on income earned overseas.
A stable government, a growing economy, breathtaking natural beauty, near perfect weather, and the low cost of living make Panama an excellent choice for retirees.
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About the Author
+Chris Robertson is a published author of Majon International. All Rights Reserved. Copyright 2014 (Sat Dec 19 2009) Majon International. Majon International is one of the worlds MOST popular internet marketing and internet advertising companies on the web. Visit their main business resource internet marketing web site at: http://www.majon.com