Any ex-US or English PAts in Panama?

Question

I am a dual cit living in Los Angeles and looking for beach front home

in Panama. Any suggestions, advice or warnings?

Answer 1

Panama is a small country as anyone knows who has spent much time here.  News travels very fast because the people are a culture that by and large has its ear tuned to the news and current events in their country.  That means every person wheather country bunken or city slicker has a good dose of the 'greed monster' going on.  Even in remote areas without utilities and good road access the prices can be ridiculous.  I have been predicting for a year now that the prices of houses and land in Panama were having as it were a false start.  The prices have risen too quickly due to the savy people of Panama and the hunger for the US dollar (not that they don't need the money).  But I believe that as the real estate continues to decline in the US the prices in Panama will eventually have to drop back off a bit.  Here's why.  Already we are hearing stories of would be US expats making a down payment on a condo and going home to find they can not sell the family home at a price that allows them to gain any financial ground.  Long story short they walk away from the down payment they made and decide to remain in the states.  Yes, many countries are coming to Panama, but the lions share that was counted to populate the 150 some odd residential towers that are currently being built were the US population.  

Now if you are still interested in this current time to buy I would suggest a few things.  

1)  For the non dual citizens : find a Panamanian you can trust to represent you to the seller so they will see a brown face not a white one.  Make sure the land/house is titled.

2) Go to the Caribbean side toward Colombia, there is less intrastructure, but a reasonable price is easier to obtain.

3) Take your time look around don't appear anxious, it will take time to find a good deal

4) Most of the beach front land on the Pacific coast have been bought up by big land developers which has really driven the prices up on the rest

5) As a dual citizen I would suggest you resource old family friends and family  members to begin to talk to people to see what might be available.

For other types of information on Panama see http://www.panamaexpertos.com/

Answer 2

I'm an eX-pat living in Costa Rica.  Panama has lots of beaches.  Panama is very user friendly.  You can get residency there easily  unless you mean Panamian citizenship as your dual.  Retired people get discounts at most hotels restaurants and even grocery stores.  Living is basically cheap.  Check out Yahoo Groups   "Gringoes in David"   they are friends and will be more than happy to tell you more.