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Why to (Pre) Retire in Panama It doesn’t matter if you’re a Baby Boomer close to retirement or a Gen X’er still raising your kids, you’ve probably dreamed about retirement. But if you’re like most, you’re not quite ready to chuck your North American life and hang your hammock in Paradise. Before you think you have to wait another decade, let me tantalize your brain with logical reasons to buy a retirement property in Panama before you retire for good.
1. Increased Demand for Panama. Panama has changed from a third world country to a leader in Latin America. Because Panama is so progressive, more and more expats are “discovering” Panama and buying vacation properties. Increased demand means property values have increased. In fact, some condos near the beach have almost doubled in price. 2. Pre-Construction Pricing. Developers give great pricing to those who are willing to wait a few years for their slice of paradise to be built. Although you have to be selective in which projects to trust, there are some rock-solid developers. When working with a top-tier developer, your money is safe and secure. But don’t believe me. Look at their history of on-time delivery and their portfolio of properties. 3. Rental Income. The same ocean view condos that have the ability to increase in value are also highly desirable as rentals. There is a formula we have learned over the past five years that lets us know which condos will make the best rental properties. If you follow this formula, you can use rental income to pay all of your vacation property expenses, vacation for free, and often times turn a profit.