Ranked as the number one place to retire and a top location to own a second home by a number of esteemed publications including Fortune, International Living and Modern Maturity magazine, Panama has many wonderful advantages to offer its residents. For one, it has the best retiree program in the world, the “pensionado.” But even beyond this, the safety ratings, infrastructure, attractions, beauty and climate of Panama make it an undeniably pleasant place to live.
As the result of a new US bank law, however, the IRS will soon be forcing foreign banks to withhold 30% of funds that leave the USA beginning January of 2013. Hence, Panama’s #1 Travel Guide is advising that now is the time to purchase property in Panama and get funds out there before this new law goes into effect.
Panama does not have a multi-listing system, so those who are looking to invest in property for retirement or as a second home should consider the Ocean Reef Islands, Panama’s newest and most luxurious residential development. To learn about the custom designed villas and single-family homes, private marina and other world-class amenities of this prestigious new development, contact Hurwitz James Company at 888-681-5902.
Top photo by John Henderson
Bottom photo via Ocean Reef Islands
Panama continues to pop up in real estate news as a top place to retire. In a recent article published in The Wall Street Journal‘s MarketWatch, the Southern most country of Central America once again made the list for “The World’s top 10 Retirement Havens.” The article reports that according to research by International Living, Panama’s “pensionado” program, cost of living, real estate, ease of integration, health care, climate and entertainment and amenities among other factors make it the country with the best retiree benefits.
Open to foreigners and without any age requirements, the pensionado is an organized retiree program that offers premium percentage discounts such as 20% off professional services and 50% off of theaters, movies and sporting events. Other perks include discounts for hospitals and private clinics, domestic flights on COPA, public transport and sit-down restaurants.
Combine the pensionado with an already inexpensive cost of living and you have yourself the perfect place to get the most for your money in retirement. Read the article in full at MarketWatch.com.
Investors looking to explore real estate options in Panama can contact Bob Hurwitz of Hurwitz James Company to learn about Panama newest and most luxurious residential development, Ocean Reef Islands.
Top photo via Dsasso
Bottom photo via OceanReefIslands.com
We just heard about a high-profile party that took place in Panama recently. Jean Pigozzi, a well-known Italian businessman and art collector among other things, hosted the party at his Panama home. Pigozzi is widely famous for his private Contemporary African Art Collection but has lead several entrepreneurial successes including the Liquid Jungle Lab, an island in Punta Pacific devoted towards technologically advanced research of marine and terrestrial sciences as a part of conservation efforts. Pigozzi’s Panama home is one of five; the others are located in New York, London, Paris and Cap d’Antibes.
According to an article from Panama America, a handful of big-name celebrities flew into Panama specifically to attend Pigozzi’s party. The Hollywood personalities that made the guest list were Angelina Jolie, Catherine Zeta-Jones, Michael Douglas and Roman Abramovich. The guests were flown via helicopters to Pigozzi’s private yacht where they were then taken to an island in the Gulf of Chiriqui Pixbae. The private party included fishing and fine dining catered by five star chefs from the famous Ciudad de David, a luxury hotel in Panama.
Of course, we were not too surprised by the chosen location for this private, high-profile get together. After all, Panama was named the No. 1 place to go in 2012 by The New York Times.
For those considering investing in real estate in Panama, learn more about Panama City’s newest and most luxurious residential development, Ocean Reef Islands by contacting Hurwitz James Company at 888-681-5902.
Source: Panama America
Top photo via Cdorobek
Bottom photo via Roger Wollstadt
The New York Times recently published an article in the travel section listing the 45 top places to travel to in 2012. Out of 45 destinations, Panama came in first! As the Times put it, when you go to Panama, “Go for the Canal. Stay for everything else.” With the same currency and the soon-to-be expanded canal, Panama is becoming even easier to travel to. The thriving economy has led to an influx of first-time Latin America developments by Waldorf, Trump and Frank Gehry. Of course, the Times does not forget to mention the endless opportunities for outdoor Caribbean recreation and night life entertainment.
As the article reveals, it is for these reasons and even more that Americans have recently realized the true value of Panama real estate and have hence been investing rapidly. If you are looking to own property in the world’s top destination in 2012, consider Panama City’s newest and most luxurious residential development, Ocean Reef Islands. To learn more about Ocean Reef Islands custom-designed villas and single family homes, please contact Bob Hurwitz at 888-681-5902.
Source: The New York Times
Top photo via DoctorWho
Bottom photo via www.oceanreefislands.com