My Decision to Retire in Panama

When I first decided to retire in Panama, there was a lot of research to be done, talking to people who were thinking about the idea, people who were actually retired and living in Panama and searching on the internet for information for retirement in Panama. I discovered this company called International Living.

I had heard things about living in Panama and buying property in Panama, like “buyer beware” and you’d better either speak Spanish or else hire a lawyer from Panama. So I was a bit of a doubting Thomas, very wary of, well, everything to be quite honest with you. No sense draining my life time savings and getting screwed at my age.

Nevertheless, I was a bit cynical, but I knew I wanted to retire in Panama. I signed up to this company for a three day real estate tour which promised to show many quality properties during their three day real estate presentation. Let me remind you, I was feeling kinda cynical.

Passing through customs was relatively easy. Once on the other side of customs, I was looking for the guy from the company. I figured no one would be meeting me at Tocumen International airport as promised but it was sort of encouraging when I saw the guy at the terminal holding up the sign for his company. As promised.

A hotel room was booked for those attending at the Miramar Intercontinental Hotel, a luxury hotel for sure, not a doubt about it. We got to sleep in a bit the next morning at the hotel because the event the company was running wouldn’t start until 1:00 p.m. The event started right at 1:00 p.m. Promptly. As promised.

Two guys gave the welcoming address about retiring in Panama, safety, stability, climate, reasons to retire and invest in Panama. A lawyer then gave a speech on the legal aspects of retiring and conducting business in Panama. There were further presentations on investments such as investing in teak forests and how to finance property in Panama. So much valuable information. I was ready for a break. Next up on the schedule: a reception by the pool. Cocktails in the sun. Ah! Panama. As promised.

Next day it was an early start to the day. At 8:00 a.m., a bus was waiting outside of the Miramar to take us to the Intercontinental Playa Bonita Resort and Spa. This is some luxurious hotel, a 5 star hotel resort in Panama. Beautiful! It’s on a private secluded beach. As promised.

The first presentation was a speech about economic development in Panama. After that, we headed to Playa Serena, a beach front paradise on the Pacific side consisting of two and three bedroom apartments from 699 to 1,205 suqare feet in size in two 20 story buildings. With a view on the ocean. More beautiful – as promised.

Well, we were here to see properties in Panama and the next property we were taken to was named Vista Mar. We had lunch here followed by a tour. Again, fantastic views of the Pacific Ocean, designer kitchens, stainless steel appliances. Talk about attention to detail.

The night was to be spent at Playa Blanca. White hotel with blue roofs. Here they have two high rise condo buildings under construction. Dancers and bongo drums greet us. A resort on the Pacific. Another nice one. Great buffet and dancers. Beautiful sunset.

Nighttime. A show was put on at the resort. Dancers singing broadway songs. More bongo drums.

Santa Clara and Coronado were next on our itinerary. Santa Clara and Coronado are quiet communities surrounded by the Pacific Ocean on one side and beautiful tropical forests and foliage surrounding the community. From $130,000 to $800,00 US, you can buy two to four bedroom homes. More beauty. As promised. For peaceful and quiet retirement in Panama, this is all about location, location.

Other properties we were taken too included Tucan Country Club for breakfast. This property is a 180 acre community, still under construction, consisting of 500 town homes, villas, and terrace condominiums built around an 18 hole, par 72 professionally designed gold course. This property is just across the Bridge of the Americas, a short drive from Panama City. Other high rise condos presented to our group included the Grand Bay Tower, Bayfront Tower, Destiny Panama Bay, and Sol Marina with spectacular views of the city skyline and the ocean, and furnished with all the modern amenities you could desire. There’s lots of building going on in Panama, especially for those who are thinking of retiring there.

The three days ended back at our hotel in Panama City – the Hotel Miramar. The properties I had seen had all been tempting. The presentation had boosted my goal to retire in Panama. It was an exhausting few days in Panama, you know, places to go, people to see, but I had seen some properties I was definitely interested in looking at further. There seems to be something for everyone interested in retiring in Panama whether it be a property on an ocean front, a quiet spot in the mountains, or the bustling city of Panama itself. As promised.