The demand for properties for retirees in Panama continues to grow. Why does this country attract so many foreign retirees? It is not just because of its people, its citizen security and its climate. Although all this has a lot to do with it, the key has been that the Government of Panama has managed to attract, with intelligent marketing, retirees from other countries to establish permanent residence in this country.
They have achieved this with a series of attractive incentives that do not leave anyone indifferent. More and more properties are being sold for retirees in Panama. Retirees not only from the United States, been from European countries and Latin American countries.
It is that being retired in Panama has very favorable economic advantages for this population group and that I will indicate below.
All this has an impact on the fact that there are more and more real estate sales for retirees in Panama. The increase in the purchase of real estate by retirees has been surprising in the last 2 years and there are no signs that it will decrease.
Demand for Real Estate for Retirees in Panama. Reasons
These are some of the advantages that Panamanian and foreign retirees obtain when they come to live in Panama.
1. Discount of 50% of the prices charged for the entrance to recreation and entertainment activities.
2. Discount on the public transport rate from 25% to 30% depending on the type of transport
3. A discount between 50% and 30% on the regular prices of hotels, motels and pensions.
4. 25% discount on the value of individual food consumption in any restaurant.
5. A 15% discount in food outlets fast with national and international franchises.
6. Discount of 15% of the total bill for hospital and clinic services private.
7. A discount in pharmacies of 10% of the value of the drugs that acquired under medical prescription.
8. Discount between 20% and 15% on certain medical services.
9. Insurance companies that include in their policies the risk of disease, they will make the necessary adjustments so that the benefit of these discounts are transferred to the insured in the payment of their premiums.
10. 20% discount on fees for technical and professional services.
11. 20% discount on the price of all prostheses as well as all assistive devices and accessories.
Incentives that Also Affect the Demand for Real Estate for Retirees in Panama.
12. Discount of 50% of the expenses or closing commission in the transactions of personal and commercial loans that are carried out in your name in the banks, finance companies and credit institutions.
13. Personal and commercial loan transactions carried out in your name in banks, finance companies, cooperatives and credit institutions, will be exempt from paying the surcharge or tax stipulated in the Special Interest Compensation Fund (FECI).
14. 15% discount on the maximum interest rate that the law allows you to charge banks, finance companies, cooperatives and credit institutions on personal and commercial loans in your name.
15. 1% discount on the interest rate on home mortgage loans for your own use.
16. The property tax freeze, provided that the house is in your name and is your only property.
17. Exemption from the payment of the valuation fee to your property, always that this is unique and constitutes your home.
18. Discount of 50% of the value of passports.
19. 25% discount on billing for monthly energy consumption electric, public or private entity.
Other Incentives to Increase the Demand for Real Estate for Retirees in Panama.
20. The properties of the Associations, Federations, Confederations of Retirees and Pensioners, constituted in accordance with the Law, will enjoy of discounts granted to retirees and pensioners
21. Discount of 25% of the fixed charge for telephone service when the telephone service is in your name, the account is residential and the charge is
22. Discount of 25% of the rate for water consumption, public or private, provided that the consumption is not greater than thirty balboas, the account is in your name, the account is residential and constitutes your home.
For more information, please consult: LAW No. 6 of June 16, 1987 (Official Gazette 20,827 of June 22, 1987)
As you can see, the sale of real estate for Retirees in Panama, which is increasing; especially in Panama City and in the suburbs. I am referring to retirees who come from abroad.
In our particular case, our real estate agency receives requests for information on properties between $ 130,000 and $ 450,000. Retirees prefer apartments with security and a little away from the center in well-connected and quiet areas with public services. Preferably in areas where there are already other retirees from the same country.
If you are retired and would like to visit several properties for Retirees in Panama, (properties in ideal areas for people like you), contact us and we will find what you are looking for as well as provide you with all the advice you need. Contact us at email@example.com
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