Panama vs Costa Rica – Where to Purchase Real Estate

by Jay Stafford

ThePanamaCollection Panama vs Costa Rica  Where to Purchase Real EstateWhen we consider about vital full or partial time in Central America, Costa Rica seems to be a initial nation that comes to mind. Having spent a satisfactory volume of time in both Costa Rica and Panama, we might be means to offer a rather singular viewpoint when comparing a dual countries. While both countries are identical in many respects, there are some vital differences that we should be wakeful of.

First of all, there are many similarities. Both Panama and Costa Rica have mountains, oceans, beaches, volcanoes, pleasant sleet forests, zip line and eco tours, prohibited springs and outlandish wildlife. Both countries have some-more residents who pronounce English in a bigger cities, while unequivocally small English is oral in a some-more remote areas. Both countries have identical ascetic climates, and both are utterly beautiful. we overtly can’t consider of a singular good thing about Costa Rica that we can’t also find in Panama.

Now let’s pronounce about a differences, and they are significant:

Retiree incentives:  Panama rolls out a red runner for retirees, with one of a best advantage programs in a universe (http://www.panamainfo.com/en/benefits-foreign-retirees). Retirees can suffer steeps discounts of adult to 50% on all from hotels and airfare to party and healthcare. Costa Rica has no such module – retirees are not offering a singular benefit, discount, or inducement of any kind.

For this reason alone, it amazes me that anybody would retire to Costa Rica. we have to assume that a usually people relocating to Costa Rica are a ones who simply have not finished their research.

Roads: Costa Rica is famous for a bad roads, and they are terrible. Some of a categorical roads are so bad that they are scarcely impassable. Panama’s categorical roads are all paved and comparatively pothole-free .President Martinelli has done a vital highway building joining via a country, that has already resulted in an even improved highway system.

Cost of goods: Panama is a vast leader here. Thanks to a Panama Canal and a outrageous port, made products are many reduction costly in Panama. Household appliances, electronics, building materials, roughly all is some-more costly in Costa Rica. we haven’t had any knowledge shopping cars in Costa Rica, though I’ve listened from arguable sources that Costa Rica has a outrageous taxation on automobiles that we know for a fact Panama doesn’t have. Apparently a $20,000 automobile in Panama would cost around $35,000 in Costa Rica.

Currency: Again, Panama comes out ahead. The central banking in Panama is a Balboa, that is tied directly to a U.S. dollar. The paper income (one dollar check and up) is all U.S. currency, and there is no sell rate. The banking in Costa Rica is a colon, and sell rates vacillate on a unchanging basis. You need to constantly change your U.S. income into colones, pierce a calculator everywhere we go, and always be wakeful of locals perplexing to take advantage of you. Financial exchange of any kind are many easier in Panama.

Capital Cities: When we fly into San Jose, Costa Rica, it feels like you’ve landed in a third universe ghetto, though when we fly into Panama City we feel like you’ve arrived to a modern, worldly metropolis. It’s unequivocally about that elementary – a disproportion between a dual cities is staggering. San Jose is a dirty, dangerous place with about 4 travel signs in a whole city. Panama City has dozens of radiant new skyscrapers and is in an apparent proviso of on-going expansion. One reason that Panama City is light years forward of San Jose is a fact that a U.S. was actively concerned in a Canal until 1999, so a infrastructure is surprisingly modern. It’s not a fluke that a Trump Tower is going adult in Panama City, though not in San Jose.

On a side note, we have found a people in Panama City to be many friendlier and some-more useful than those in San Jose.

Crime: No competition here; Costa Rica has a many aloft rate of crime. Armed robberies, carjackings and other aroused crimes start distant some-more frequently in Costa Rica. In 2007 a U.S. State Department designated Costa Rica as a “high crime rate country” for tourists. While these crimes do start in Panama, a occurrence is many reduce and they start essentially in a Canal Zone, between Panama City and Colon. I’ve been vital partial time in Santiago (three hours west of Panama City) for over dual years, and nobody I’ve talked to has ever listened of a murder, armed robbery, or even a mugging. I’ve left collection and work boots outward of my residence for weeks during a time, and I’ve never had anything stolen. This would be unheard of in Costa Rica, where burglary is a common, bland occurrence.
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Real Estate: Let’s save a best for last; we can squeeze land in Panama for a fragment of what it would cost we in Costa Rica. For example, a same 5 hactare mini plantation with sea views and riverfront that I’m offered in Panama for around $90,000 would cost some-more than $500,000 in Costa Rica. Land in Costa Rica is roughly 5 times some-more costly than allied land in Panama.

Another vast disproportion between a countries involves squatters. In Costa Rica if we buy land and squatters pierce onto it, in 3 months they indeed have authorised rights to your property, and long authorised movement is compulsory to get absolved of them. Incredible, though true. In Panama, squatters have no authorised rights of any kind. If we buy land in Panama, leave it alone for 10 years, and on your lapse people are vital on it, we can have them private immediately.

Having spent about half of my time in Panama over a final dual years, we was primarily undetermined by a fact that a interior of a nation is so distant behind Costa Rica in terms of genuine estate development. It is a vastly higher nation to Costa Rica (for a aforementioned reasons), and when we started interrogation as because this was a box we kept removing behind a one word response – “Noriega.” Up until 1990, when he was forcefully private from power, Noriega had a stranglehold on a country, and he authorised unequivocally small expansion from outward investors. That was usually 20 years ago, and Panama has been throwing adult ever since.

There are some popular, good grown places in Panama. Panama City itself (as good as a whole Canal Zone), Valle de Anton, and Boquete are substantially a improved famous areas. They all have vast “gringo” communities, and primary land is mostly good in additional of $100/meter squared (the approach land is totalled in Panama).

In my opinion, by distant a best area in Panama in terms of destiny expansion intensity is a western slope of a Azuero peninsula. Located on a Pacific side of Panama about 3 hours from Panama City, there is a new (completed 4 years ago) paved highway that runs a whole length of a coastline, finale during a Cerro Hoya National Park. The land is beautiful, a views are outstanding, and it is unequivocally early in a expansion cycle. At benefaction there are no vast projects in a area, though there will be. we trust that marinas, hotels, vast housing projects, etc will all occur in a subsequent several years.

One can demeanour during Ocean Ridge Estates to get a feel for a low prices that are accessible in a area. we have 16 mini ranches between 3 and 12 acres, many of that have riverfront and sea views. The squeeze cost of $5.00/meter squared includes water, electric, a highway to any lot, and full title, as good as any assistance indispensable in a building of a house. This is one of a best values in Panama, if not a best.

I consider a contribution pronounce for themselves. If we revisit both countries you’ll find out for yourself that Panama is distant higher to Costa Rica for many reasons. Do your research, and we should come to a end that Ocean Ridge Estates on a Azuero peninsula is one of a best values in a whole nation of Panama. Visit www.thepanamacollection.com to find out more.

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