Panama City has been called the Miami of Central America…and also the Switzerland of the Americas. Those comparisons are very different. So what’s the deal? Miami comes into play as Panama’s seaside capital is a fast-paced, international city with an ever-growing skyline of sleek skyscrapers and condo towers. But it’s also a center for banking and financial services—like Switzerland.
It’s an exciting place to live, with shopping malls, fine dining, nightlife, and quick access to rain forests and white-sand beaches but also every modern amenity and some of the best medical care in the region. And you won’t break the bank to live in this world-class metropolis. Sure, there are high-end luxury places for the wealthy elite but also plenty of affordable options in great neighborhoods with easy access to anything you’d want to do.
A recently remodeled two-bedroom condo is available on the west side of the city. The building features a pool and gym. Your view is of the city skyline, which is especially breathtaking at night.
Property taxes in Panama take into account value of the land and construction, as well as improvements to the property. Property valued under $120,000 is tax free and that amount is exempted if the property is worth more. The rate is 0.5% to 0.7% for primary residences. For a vacation home, you’ll pay 0.6% to 1%, with the first $30,000 exempted.
Remember, we don’t make money from any listing shared here in the Your Daily Dream Home section. We have no dog in the fight. We’re just sharing cool properties we’ve found.
I haven’t visited this property or done due diligence on it. If you’re interested in the listing, you should hire an attorney and do your own due diligence.