Black River also known as the Rio Negro, borders the Panama Real Estate Project, on the western slope of the Azuero peninsula in Panama. On the front side of the Panama property its all oceanview, four miles from the ocean. The Panama Collection currently has 102 acres available, and 16 lots of Panama Land. Panama property with riverfront or oceanview is still available. If interested please visit www.ThePanamaCollection.com and you too can own a piece of paradise with oceanfront view.

Just another reason to purchase the Panama land for sale, you can enjoy nature’s beauty. Deep sea fishing is just one of the various activities that Panama has to offer!

Panama Land For Sale Video - View from the Ocean Ridge Estates, real estate offered by The Panama Collection as some of their land for sale in Panama. Great views of mountains, looking out over the peninsula and on to the beautiful islands that line Panama’s coast line, tucked away up in the hills, protected from Panama’s high humidity usually found near the water. The Panama Collection is offering premium acreage lots of untouched land for sale at very reasonable prices, which present a great opportunity to invest in a tropical get away where fishing and wildlife are abundant. Property investments in Panama are booming, due to the excellent infrastructure compared to other South and Central American countries.

Please visit www.ThePanamaCollection.com for more information about buying investment and vacation properties in Panama.

Purchasing real estate in Panama can be a profitable, satisfying experience. The country is far more advanced than Costa Rica, but real estate prices (in general) are far lower. Foreigners have the same property rights as Panamanian citizens, and if you purchase your real estate through a corporation (very easy to set up) you will be exempt from property taxes for 20 years.

However, you need to be very careful when buying property in Panama through a real estate agent. Fraud is rampant throughout Panama, and little is being done to stop it. In 1999 the Real Estate Technical Board (Junta Technica de Bienes Raices) of the Republic of Panama was formed. Supposedly this government agency has the power to consider complaints arising from any real estate transaction, and to impose any sanctions that are deemed necessary. This includes anything from a reprimand up to a revocation of an agent’s license, so they can no longer sell real estate in Panama. This all looks good on paper, but in fact the Board has proven to be almost completely impotent in stopping real estate fraud in Panama.

Case in point: My first real estate purchase in Panama was done through a company called Great Land Panama. The owner of the company, Khadine Smith, defrauded me out of thousands of dollars when she charged a 30% commission. She then turned around and stole $20,000 from the landowner, by not paying him the price that was in his contract.

I had to talk with five attorneys before I could even find one who knew how to file a formal complaint with the Real Estate Board. The complaint was filed in May of ’08, after which I heard nothing for more than six months. Finally in Dec ’08 I was able to get in touch with a senior official on the Board. He informed me that this particular agent had four other complaints against her, involving millions of dollars. The Board had not yet investigated any of these complaints, but he assured me that they would “get around to it very soon.” Bottom line – she is still out there ripping off unsuspecting foreigners, and will probably continue doing so for the foreseeable future.

So what is one to do? It’s fairly simple; make sure that you either work directly with the landowner or with a foreigner who is already developing a project, with no intermediaries. I personally know several “gringos” in my area of the Azuero Peninsula who are working on various projects, and none of them used an agent for their real estate in Panama. If you don’t speak Spanish I can help you with translation services, as well as guiding you through the entire process of purchasing real estate in Panama. Feel free to contact me, I would be happy to help you in any way I can.

No contest here; Costa Rica has a much higher rate of crime. Armed robberies, carjacking and other violent crimes occur far more frequently in Costa Rica. In 2007 the U.S. State Department designated Costa Rica as a “high crime rate country” for tourists. While these crimes do occur in Panama, the incidence is much lower and occurs primarily in the Canal Zone, between Panama City and Colon. I’ve been living part time in Santiago (three hours west of Panama City) for over a year, and nobody I’ve talked to has ever heard of a murder, armed robbery, or even a mugging. I’ve left tools and work boots outside of my property in Panama for weeks at a time, and I’ve never had anything stolen. This would be unheard of in Costa Rica, where theft is a common, everyday occurrence.

View source:https://www.osac.gov/Reports/report.cfm?contentID=62156

Panama vs. Costa Rica Currency Exchange Rate:

Again, Panama comes out ahead. If you are considering properties in Panama, you will be happy to hear that the official currency in Panama is the Balboa, which is tied directly to the U.S. dollar. The paper money (one dollar bill and up) is all U.S. currency, and there is no exchange rate. The currency in Costa Rica is the colon, and exchange rates fluctuate on a regular basis. You need to constantly change your U.S. money into colones, bring a calculator everywhere you go, and always be aware of locals trying to take advantage of you. Financial transactions of any kind are much easier if you purchase properties in Panama.

Panama Real Estate:

Let’s save the best for last; you can purchase land in Panama for a fraction of what it would cost you in Costa Rica. The same large six acre lots with ocean views and riverfront that I’m selling in Panama for around $150,000 would cost at least $500,000 in Costa Rica. Land in Costa Rica is roughly five times more expensive than comparable land in Panama. There are expensive areas in Panama, like Boquete, Anton and Panama City, but for the most part real estate is extremely affordable throughout the country.

Another big difference between the countries involves squatters. In Costa Rica if you buy land and squatters move onto it, in three months they actually have rights to your property, and protracted legal action is required to get rid of them. Incredible, but true. In Panama squatters have no legal rights whatsoever. If you buy land in Panama leave it alone for ten years, and upon your return people are living on it, you can have them removed immediately.

Welcome to my first blog entry regarding Panama. I’ve been spending a lot of time down there over the past year, and I’m very impressed with the country. I didn’t realize that with the U.S. being actively involved with the Panama Canal until 1999, that the infrastructure would be so modern (compared with other Central American countries). The roads are good, the government is a stable democracy, the currency is the U.S. dollar, and real estate prices in the majority of the country are very low. This is especially true on the western slope of the Azuero peninsula, where a new paved road was put in less than three years ago.

I’ve attached a couple of videos that will hopefully give you a better feel for the area. If fishing is your thing, you can’t do much better than this place. Please feel free to include any comments or observations you may have, and of course you can contact me anytime at www.ThePanamaCollection.com.