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.

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.