Category — Panama

Favourite of American retirees seeking tax breaks, and now, of fugitive canoeists from the UK looking to miraculously come back to life, property in Panama has been gaining attention from the UK property press for some time now. The large numbers of multinational companies located in the city, along with the position at the hub of the trade world, make Panama’s property market an attractive emigration and investment destination. New properties are springing up all of the time, and there are now retirement developments appearing out in the countryside as well, giving an extra dimension to investing and living there. As for living in anonymity, you may be better now to lay your hat elsewhere…

Good news for buyers in Panama. The government has extended a 20-year exemption on property taxes for new homes. Under the law, even if you buy an existing home built in recent years, the exemption is transferable.

The law expired in August and there didn’t seem to be any movement to renew it. But the government apparently had a change of heart and extended the law to homes built before Dec. 31, 2009