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Posted On: 12/02/2010
Demand for retirement property in Panama is expected to continue increasing due to the new pension reality faced by US citizens.
A recent research study by Ernst & Young found that over half of all American citizens are not saving enough to maintain their standard of living in retirement, because of the fact that they are now outliving their assets.
It is a known fact that Panama is the number 1 most popular destination with American retirees, and with lower living costs and cheaper property, the fact that people's means are reducing upon retirement can only make Panama's appeal increase.
Panama has been named on several top 10s as a top destination for property investment in 2010. The reasons for this are: the fact that the economy never crashed but continued growing, the fact that the biggest earner in the economy (the Panama Canal) is having its capacity tripled, and the fact that the property market has remained robust -- not least because of the continued demand from American retirees.
Another reason for Panama's popularity is the low price of property in the country, with properties on the coast available from around £80-£100k for a 2 bedroom apartment and prices as low as £50k for a 2 bedroom apartment in emerging cities.
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