There’s lots of talk about how Panama is the #1 expat retirement destination going around the web these days, and to be perfectly honest, it’s been that way for some time now. Panama is a huge destination for retiring for a lot of reasons, and as we move ahead to 2017, it seems like there’s no better time than now to take the plunge. Panama has a vibrant expat community spread over all parts of the country, and the retirement community plays a big part in all of it. Retiring in Panama can be both economically beneficial, as well as greatly increase one’s quality of life, and give you the perfect retirement that you’ve always wanted, not too far from home. Here are our top 5 reasons to retire in Panama in 2017:
Cost of Living
If you’re on a fixed income (social security, pension, extended family income), or just want to control your budget a bit, then Panama is a great place to retire. Yes, as many people have noted, things can get a bit pricey in Panama, however there are still many, many affordable options for retirees of all budgets. Plus, if you compare the style of living, and the quality of living to that in North America and many parts of Europe, the value is much higher in Panama. It’s just a matter of finding the perfect place for your lifestyle needs, and matching it to your budget, and thousands of retirees who are already here have done just that.
A Growing, Evolving Country
Panama has an economy on the rise, and an infrastructure that is constantly evolving and modernizing right in front of our eyes. This is a huge benefit for all expats, locals, and of course, retirees. A constantly growing and modernizing country means lots of new and better services for retirees, including better housing, better roads, better public transportation, better medical services, and more convenient retail and shopping services. It also means that if you buy property, there’s a good chance the value will go up significantly in the future, should you want to generate investment income to leave to family, or use yourself while you’re in Panama or elsewhere.
The Weather
Let’s be honest, as we get older, our penchant for spending time in cold climates tends to decrease dramatically. For many of us, cold weather is a nuisance at any age, and by the time retirement comes around, we’re just sick of it. This is why Panama is perfect for warm weather lovers! It’s literally never cold in Panama, even in the cooler towns of the western highlands. Panama’s weather is wet during the rainy season, dry during the dry season, and between 80-90 degrees all year round. If heat’s not your thing, towns like El Valle and Boquete offer a cooler feel (60s-70s) while not requiring jackets or heating. It’s summer all year round in Panama, and that’s a huge reason the people smile so much.
Real Estate
Panama is one of the most diverse markets in the world when it comes to available real estate, which makes it perfect for both potential renters and buyers who want to retire here. Due to the abundance of real estate, you can get some great deals, and have lots of choices when looking at where you want to live, and what type of property you want to live in. Buying real estate in Panama is a great investment, and you can rent for cheap (and high quality) while looking for your ideal place, or just rent long term as a retiree. Whatever you choose, you’ve got lots of prices and choices, so make sure to find the perfect fit.
Location
If you’re from, and have family in the Western Hemisphere, then retiring in Panama will give you the opportunity to visit “home” without much stress, or much time commitment. Panama has over 100 direct flights, many of which go to the US, Canada, the Caribbean, and Latin America as a whole. There are also direct flights to a bunch of capital cities in Europe, and many of Panama’s flights are non-stop. This is a huge strategic advantage for retirees who plan to travel, especially those with children and grandchildren who live in their home country.
