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Panama - Property Locations
The neighbourhood of Balboa used to be part of the ‘Canal Zone’. The look of the area is very much in style with many US cities. The streets are wide and the houses in the area are in an American style as it used to be home to the US personnel who ran the Canal. There are still US expats in the area. Marbella is an area of the city which is filled with high-rise accommodation and is considered to be one of the most luxurious districts. Expats are able to purchase apartments of all sizes here and it is particularly popular with retirees as many of the buildings are serviced. It is one of the fastest growing areas of the city but it is becoming a very expensive area. Punta Paitilla is another area which is popular with US expats. There are both high rise apartments and houses and the area has many facilities such as restaurants and gymnasiums.
Other neighbourhoods in Panama City that are popular with expats include San Francisco, which is popular with those who have a little less cash to splash. The homes are less luxurious than in some other neighbourhoods but very affordable and expats who are looking for a little more outdoor space with their home. Obarrio is a district popular with expats who work in the nearby financial sector and the properties there are reasonably priced when compared with other neighbourhoods nearby.
Those who prefer to live outside the capital might want to consider Cerro Azul. Property there is much cheaper and it is popular with expats who are looking for a quieter life. One of the fastest growing urban developments is the city of Chorrera, which is just an hour away from Panama City and has everything that you need from shops to hospitals. There is a growing community of expats here, mainly retirees. The property in the area is cheaper than in the larger cities.
Boquete is located in the province of Chiriqui and is being promoted as the ideal town for expats. It is considered to be one of the best places in the world to retire to. Both American and European expats have already made their home here as there are plenty of activities such as golf and tennis, as well as a very low cost of living. The town is slowly growing but has everything that you need from restaurants to supermarkets. The development of Valle Escondido is located near Boquete. This is a gated community with a golf course, a country club, parks, spa and an outdoor theatre. The development is home to many retired expats.
Island life is also appealing to expats who move to Panama. Isla Contadora has many of the facilities that you would get in the cities such as bars, golf course and a medical centre. This is one of the islands in the Pearl Islands and a number of expats have already made their homes there. Beach life is also popular in the area of Bocas del Toro, which is one of the most up and coming areas of Panama. Water sports enthusiasts will find plenty to keep them occupied there and as the locals are mainly of Caribbean descent, English is the first language in the region. For this reason the area is popular with expats and American and British expats are already forming their own communities there.
Part of Bocas del Toro is the Isla Bastimentos. This is a large island which is a good choice for those who want to experience traditional island life and who want a quieter life. Development on the island is limited, so you will not be faced with many building sites. This rule applies to many of the islands, some of which are governed by the indigenous people. On some islands expats are not permitted to own property and there are many restrictions on development.
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