A world-class capital…pristine tropical beaches…lush soaring hills…friendly visa policies…a dollarized economy…and zero taxes on foreign-earned income…
In a world full of uncertainty, one small safe-haven country punches far above its weight—Panama. All of which helps to explain why it’s an expat haven.
Three members of my team have made Panama their permanent home. One of them is British-born Oliver Lovett.
Below he explains why he moved to Panama and why the lifestyle here is hard to beat…
Wishing you good real estate investing,
P.S. This Wednesday, April 1, at 1 p.m. ET, I’m bringing members of my Real Estate Trend Alert (RETA) group an exclusive new deal in Panama. Ocean-view condos in a true beachfront community…steps from the sand. For under $300,000! With this deal I expect gains of $181,100 five years after delivery.
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“Why I’ll Never Leave Panama”
By Oliver Lovett
I first came here because my now-wife is Panamanian. We met in Manchester when she was studying English there. In October 2017 I flew out to visit her in Panama City. Within a week I’d found a job and I’ve been here ever since.
The first thing that struck me about Panama City was the sheer size and scale of the high-rise buildings. I remember driving into the downtown area on my first day here and just craning my neck up to take it all in.
English cities are mostly low-rise, I’d never seen anything like Panama City’s skyline.
Panama City’s skyline is taller than that of LA, Miami, and Beijing, to name just a few.
Panama City is expanding outwards…fast. I live in a residential area called El Bosque in the center of Panama City, close to my wife’s family.
They’ve been here for 30 years and tell me that when they arrived the surrounding areas were all grassland. Today, high-rise residential buildings dominate the landscape.
All the available land is being developed. There are two new residential towers going up within 100 feet of my building. And there are another four or five that have been built in the last couple of years. Space for development is at an absolute premium in Panama City.
I understand why the demand for real estate is so high. The quality of life here is exceptional. Take the healthcare…
The private hospitals are clean, modern, and reasonably priced. Many of the doctors have been trained in the U.S. and speak excellent English. A few years ago, I broke my arm. I was seen almost immediately after arriving at the emergency room. And I was back home, medication in hand, within a few hours.
A few years ago, my wife gave birth in a private hospital here and the level of care she received was similarly amazing.
There are also numerous top-quality international schools in Panama City. I’m confident that when my son starts school, he’ll receive the same quality of education here as he would have in England…maybe better.
Beyond the big stuff like education and healthcare, it’s amazing to me all the small conveniences I’ve gotten used to since moving here…
One thing that stands out is that I haven’t had to iron a shirt since I arrived in Panama. Everyone here uses the local lavendaria (laundromat) and they charge around 50 cents to press your shirts. They do an amazing job, much better than I ever could.
Modern high-rises have been shooting up in Panama City. Prime developable land is at a premium in the city.
You’ll find amazing restaurants and incredible nightlife throughout Panama. One of the top areas for restaurants is the upmarket district of Costa del Este.
This is where many of the multinational corporations have their headquarters, which makes it the most sought-after and desirable area of the city to own and rent real estate.
Two of my favorite restaurants are here… For authentic Chinese street food, I would recommend Hong Kong Bakery (they also do great dim sum). And Los Años Locos is a fantastic steakhouse (try the flank steak).
Outside of Costa del Este, Casa Alejandro in Bella Vista is a legendary Spanish restaurant. And the Golden Unicorn in Coco del Mar is the place to go for a Chinese dim sum breakfast with views out across the Bay of Panama. There are also lots of incredible restaurants in the historic district of Casco Viejo. But I would say the best restaurant in Panama City right now, is Cantina del Tigre. They’ve put a gourmet twist on traditional Panamanian dishes and the results are incredible.
In terms of nightlife, I like to go to El Cangrejo, a leafy suburb full of lively bars and restaurants. On Friday night, I often head to Murphy’s Irish Pub there to play some darts. It’s full of expats from around the world…you never know who you’ll get talking to.
I’ve joined a few expat groups and made plenty of friends…mostly from chatting to people in Panama City’s many Irish and English bars. The community here is very welcoming and there are WhatsApp groups organizing various events, sharing details of garage sales, and so on.
Panama City’s historic district of Casco Viejo is vibrant and features many examples of beautiful colonial architecture.
I feel safer in Panama City than I did in Manchester, England. Panamanians are generally very relaxed and friendly, and I don’t recall ever seeing any trouble.
I’ve also found Panamanians to be very welcoming. I’ve had an advantage in that my wife is Panamanian. But in my experience, Panamanians are very proud of their country and are always happy to hear that foreigners are enjoying their time here.
Panamanians always tell me that Panama isn’t as cheap as it used to be, but it’s still a lot cheaper than most other cities I’ve visited recently.
My wife has family in Orlando. We visited them recently and I couldn’t believe the prices for food and drink there. My own parents now live in the South of France, and I’ve likewise found that it’s more expensive than Panama.
The more time I spend in Panama, the more I enjoy living here. Now I can’t imagine ever leaving.
The Costa del Este district in Panama City is home to the regional headquarters of some of the world’s leading multinational corporations.
The future looks bright for Panama. It’s in a privileged location, it has Panama Canal, and so many international businesses are setting up bases here.
Panama City is ideal for remote workers like me. There’s super-fast broadband and I don’t get taxed on income sourced from overseas. This is one of the favorable tax rules foreigners can avail of when living and working in Panama.
I would recommend Panama City to anyone. It’s an incredible city, with tons to see and do. And there’s so much more to Panama than just the city. The countryside, or interior as it’s known here, is beautiful. A tapestry of lush rainforests, mist-shrouded volcanic hills, and cascading waterfalls.
But coming from a country like England where the weather is often cold and rainy, my favorite part about Panama is the tropical beaches.
Of course, not all beaches are created equal. When I first arrived, I was keen to try surfing and would go to a small beach named El Palmar a couple of hours outside Panama City. The waves are great, but the beach is littered with rocks, making swimming a bit dangerous.
Better for swimming is the beach at Coronado. The bay is sheltered and calm, but the black volcanic sand isn’t too appealing. And it gets scorchingly hot when the sun is out.
The beach at Playa Caracol hits the sweet spot. Parts of the beach have some amazing surfing, and other parts are calm and better for swimming.
And Playa Caracol looks like you imagine a tropical beach should look…
The pristine sands of Playa Caracol are less than 90 minutes from Panama City.
Playa Caracol is emerging as the premier beach destination in Panama…fast. A new Margaritaville is under construction, a town center is planned, and already RETA members who’ve acted on deals here are sitting on big uplifts and enjoying beach life!
As well as the beaches, Panama has some wonderful mountain towns. Up in the hills, the weather is cool and fresh and feels like arriving in another country. Boquete, near the border with Costa Rica is the most famous mountain town, but there are some lovely mountain towns close to Panama City where you can enjoy temperate living.
The mountain town of El Valle de Anton (also known as Anton Valley) is around 50 miles from Playa Caracol. It’s a great place for a day trip or to spend a weekend. You’ll find hot springs, great hiking, and some nice restaurants. Fruit and vegetables grow well in Anton Valley thanks to the rich volcanic soil, be sure to call in at the market in the center of town for some fresh local produce.
Panama’s highland areas are cool-weather escapes for hiking, horse-riding and natural delights like waterfall swims and hot springs
Summers in Panama are amazing. They last from December until April or even May. The arrival of the brisa de verano (summer breeze) lets you know that the summer is here, and that Christmas is on the way. It’s one of the highlights of the year. But I enjoy the rainy season too. I love watching the mists hovering above the rainforest and seeing the incredible array of greens that you can find here.
I’ve visited Playa Caracol many times over the years. As I say, I love the beach and Playa Caracol is the best beach close to the city. The fishing nearby in Punta Chame is great, and when my son gets a little older, we’re going to take him to watch the whales. They come to the waters close to Playa Caracol to nurse their calves.
I’ve spent time at Playa Caracol recently, and the community is so impressive. Everything has been built to a high standard, and the amenities are superb. Every time I visit, I’m amazed at the speed at which everything is being built. New buildings, restaurants, supermarkets…construction is progressing at an incredible rate. People in Panama are excited about Margaritaville opening, it’s going to put the Pacific Riviera on the map.
For me, the countryside in Panama has everything you can find in Costa Rica, but without the price tag. And Costa Rica has nothing like Panama City, “The Hub of the Americas,” a vibrant city that I’m happy to call home.
I’m often asked if I would go back to England. It’s not something I’m thinking about. I enjoyed living in England, but life is better in Panama.
RONAN SAYS: As Oliver has shown, Panama is an amazing place to live. And the RETA track record here is incredible. We’ve been ahead in Playa Caracol and in Panama City. A few examples…
- In September 2018 RETA members could buy two-bed, two-and-a-half-bath condos in Ocean House within Santa Maria, a 700-acre reserve of luxury on the edge of downtown Panama City. The exclusive RETA pricing was from $238,200. Today, a similar condo is listed for $410,000. That’s an uplift of $171,800.
- And RETA members bought in Surfside Residences at Playa Caracol back in March 2020 at exclusive prices starting at $214,600. Similar condos are on sale by the developer at $330,000—an uplift of $115,400.
Now, I’m about to open an exclusive, new Playa Caracol deal to RETA members.
RETA members can snap up condos in a true beachfront community, steps from the sand, for under $300,000! And I expect gains of $181,100 five years after delivery.
This deal opens on Wednesday, April 1 at 1 p.m. ET.
This render gives you an idea of just how beachfront the upcoming RETA deal at Playa Caracol is…walk past the pool and you’re on the sand. (Developer’s renders shouldn’t be considered final, but give us a great idea what to expect.)
