Panama doesn’t Have Hurricanes, Tornadoes

It is difficult to watch television and news reports about the current destruction in Florida. How does one wrap their head around two “once-in-a-lifetime” storms in two weeks? In addition to the damage created by the over 150-mile-per-hour winds, we watched deadly tornadoes, falling trees, deaths by drowning, tornadoes, and an independent living home near Tampa where 135 individuals were trapped in waist-high flood waters.

As the days have passed, we hear about more than three million people without power, new flooding, including in North Carolina, Tennessee, and South Carolina, and insurance companies leaving Florida even though Floridians pay the highest premiums in the United States—three times higher than the national average.

Low, Available Insurance for Home Owners

I love living in Panama, and one of the main reasons—and one I rarely think about until another part of the world experiences some type of natural disaster—is that we don’t suffer from hurricanes or tornadoes. We are outside the “hurricane belt,” and storms cannot gather enough strong swirling winds to form. Our geographical positioning is too close to the equator.

We have spectacular rain storms and an active volcano, but Baru hasn’t erupted since 1540 and now serves as Panama’s breadbasket with its rich soil. It’s also a great hike, and once at the top, on a good day, you can see both the Atlantic and Pacific oceans. One of my favorite things to do is sit on the balcony and watch as the dark clouds come directly over me, releasing torrents of rain that we have managed successfully for centuries.

Because we are prepared for the rain and are not a litigious society, along with the lack of natural disasters, homeowners’ insurance is not only readily available but inexpensive.

Not Bragging; Just Providing Facts

I’m almost uncomfortable writing about Panama vs. hurricane-ravaged spots in the Southeastern United States; while millions are without power and struggling to gain back even a small part of their lives. I struggle to know how I might react in a similar situation. I’m not sure I would be as gracious as those I have seen on television.

Panama is not perfect, but it offers various climates—from those found in Charlotte, North Carolina, to the warm temperatures along the coast of Florida found in Naples and Miami. Our cost of living is not as low as it once was, but it is considerably less than what you see in North America. Our healthcare is world-class, and our schools regularly send students to Ivy League American universities such as Harvard, Brown, and MIT.

Panamanian diets tend to be healthier than those of many countries because we regularly eat fresh fish and whole foods such as avocados, pineapples, and bananas, all grown locally. The vegetables are freshly pulled from the ground, the eggs are maybe a day old, and we tend to walk more.

Panama Has The Properties Along With Fresh Foods

Many properties in Panama would provide most of the things Floridians and retirees seek, plus others unique to Panama. Pino Alto is like the Carolinas–beautiful foliage, flowers, and year-round constant spring-like weather. Seaside House provides an urban lifestyle in new construction. Casa Bonita is luxury beach property, and Uptown is a two-tower project that offers incredible investment opportunities as well as a retirement haven. How about Generation Tower with four floors of Assisted Living and steps to a Johns Hopkins International affiliated hospital?

I would be remiss if I didn’t mention the fabulous food scene in Panama. From Michelin Star chefs to roadside fondas, you can find a dazzling array of cuisines, expertly curated wine lists and microbreweries.

A Recap Of Available Properties In Panama

Panama is a small country about the size of South Carolina with the population of Kentucky, but it is unique in many ways, in addition to the Panama Canal. It has miles of beach shoreline both on the Atlantic and Pacific oceans, high elevation, and areas where the beach is close, but the temperature is more moderate. The shopping is first-world with a sophisticated urban center. The infrastructure includes a world-class water purification system and the only subway in Central America. Cruise ships are docking at the new twin piers, and the convention center can welcome up to 20,000 guests daily.

I always welcome the opportunity to speak with individuals personally about Panama, but let me give you a quick rundown of properties currently available.

The Specifics:

Seaside House

Seaside House is located in an urban environment just steps from Avenida Balboa, the main artery for Panama City. It is the only new construction within the city, and the list of amenities is all-encompassing: squash courts, a step-in pool with a fire feature, Zen gardens, a pet park, three floors of social space, shared working space, spa area, and 24-hour concierge and security. One- and two-bedroom apartments range from 606 to almost 700 square feet. A hybrid residential concept with select floors allocated for short term rentals.

Uptown

Uptown’s rooftop social area will be simply stunning, with 180-degree views of the city, waterfront, and changing skyline. The two-tower complex will offer one tower with short-term leasing for investment, and the other will be residential. The property will offer one- two- and three-bedroom options with beautiful floor to ceiling windows.

Nogal

Nogal is perfect for the transferred employee and perhaps their trailing family, who will work in Panama’s de facto business center, Costa del Este. It offers two- and three-bedroom options and is well underway, with construction ahead of schedule. Rental opportunities are excellent for the investor as international companies are all jockeying for the area’s small supply of home options. High-end appliances, steps from “foodie” grocery stores, meat purveyors, upscale wine and cheese shops, high academic schools, and a terrific central park.

Casa Bonita

The Pearl Club pool has a restaurant, “Cabana People,” serving drinks, fluffy spa towels, and a reminder when your massage and facial is near, along with views of the Panama Canal and a walking beach. The Pearl Club, exclusive to owners and renters of Casa Bonita, is great, but so are the balcony views of the Panama Canal, the rooftop pool and Jacuzzi, social and game areas, 24-hour concierge and security, assigned parking and steps to everything the Playa Bonita Westin Resort offers. You can choose from a one-bedroom rainforest view condominium to a four-bedroom penthouse with a wraparound balcony.

Pino Alto

This upscale property is located within the Boquete Country Club, which has an equestrian center, tennis courts, and access to a golf course. Pino Alto is 340 miles from Panama City and only 40 miles from the Costa Rican border in the expat haven of Boquete. The town of about 23,000 is adjacent to the Caldera River. The two- and three-bedroom apartments are complemented by the natural foliage of the area. There will be a medical center within the complex, social areas, and year-round beautiful, spring-like weather. The best coffee in the world is grown, harvested, and available in Boquete, where fire pits are standard, allowing one to embrace the new day with coffee and a sunrise.

Of course, these properties represent what is available now and in Panama in the future. No hurricanes or other natural disasters, a welcoming country with diversity, all types of religions, a great tax structure, and the best internet in Central and South America. Let me know if you would like to discuss opportunities in our little country. The traffic could be better, but the rest is very, very good!

Please reach out to me in whatever form of communication is good for you. I answer all inquiries.