Panama State of Affairs - 2009 |
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| Written by Matt |
| Wednesday, 31 December 2008 13:59 |
 2008 for Panama was a record-setting year: real estate sales skyrocketed, tourism soared, the economy grew by unparalleled levels. Oppositely, 2008 brought some negative press such as a heightened corruption rating, increased poverty, and a near-busting real estate boom in the City. However, many experts were surprised to see most of Panama's industries with their nose above water in a time elsewhere in the world that many sectors had drowned with the surrounding crises.
As mentioned in several earlier pieces, I predict 2009 to be the ultimate breaking point for Panama in many ways. It will be a year Panama's resources, wit, tact, and vision will be tested from all angles. With the upcoming election throwing an additional wrench into the mix, 2009 will be Panama's make or break year: here are my predictions as to what side of the fence several important success indicators will fall. 1. Until now, the focus of Panama has been a myriad of things: the Canal, real estate, tourism, off shore laws. But in 2009, there will be no bigger spotlight hog than the banks whose funding, or perhaps more accurately lack of funding, will take center stage. Banks will become extremely tight on loans and thus drastically reduce the amount of available credit in Panama: a change that will have serious consequences considering previously, the ease of working with banks in Panama was one of the Republic's biggest draws. 2. Panama will attract more laundered money to temper its impending credit storm. There have been a number of steps in the direction of abolishing money laundering in Panama and many have shown success. However, with the imminent credit and real estate crisis, Panama's lawmakers, movers and shakers may find themselves in a bind and open the window for illegitimate funds once again as accepting dirty money may be the only way to keep some projects afloat. 3. So you think traffic is bad now? In 2009, traffic in Panama City will become intolerable. For the first time in its history, traffic in the nation's capital will surpass the annoying and border on suffocating. Because of infrastructure projects, the government will be forced to temporarily shut down major traffic points such as Avenida Balboa in front of Multi Centro and key intersections like Via Brazil/Transcismica causing deadlock scenarios. This will create such congestion in the City that, for the first time, it will surface as a true cause for concern and not just "something you deal with." 4. Thanks in no part to government assistance, Panama will make environmental strides in 2009. From local entrepreneurs incurring extra costs to "go green" to foreigners who realize the importance of cleanliness and nature, Panama's interior will be dotted with preservation efforts in 2009, including a movement South of those who have been priced out of already eco-proven Costa Rica. {adsense} 5. Panama made the headlines in 2008 with it's poverty level equalling somewhere around 30% which furthered the large income gap already alive in this developing nation. In 2009, the schooling and education of Panama's youth will emerge as an extremely important tropic for the nation's growth. Teachers and school systems will need to extend their learning about kids with special needs and exceptionalities in order to truly become a world investment and travel hotspot. 6. In an effort to cater to the economic crisis, Panama's real estate players will adopt the motto less is more; meaning less square footage and less expensive price tags means more sales. Buyers the world over, and especially in Panama, will be looking for quality over quantity. Amenities like five star kitchens and in-home spas will take the place of once-revered magnitude, and craftsmanship and energy efficiency will take center stage in continuing to draw buyers to Panama as opposed to other burgeoning destinations. 7. Competition for travelers, specifically high-end travelers, will heighten in 2009 and Panama's tourism board will realize that both value and comparison shopping has gone the way of the internet: meaning that instead of just blindly buying media spots, a budget for internet marketing will be designated in an attempt to capture the now-highly-competitive market sector. Similarly, a handful of new eco tour companies will arrive on the scene and do well in 2009 tapping into Panama's wondrous natural resources, until this point, unexposed. 8. Many sellers don't realize it yet and still exhibit greed in their demands (asking far too much for their property). But 2009 will present a "reality check" phase in which distressed real estate will be the name of the game, with sellers not only happy to sell for the amount they first bought at, but even willing to take a hit, to cut their loses so to say, and just pull out all together. Vulture funds will also arrive to the scene in 2009, snatching up lumps of real estate for desperately low figures. Growing too big, too fast will become Panama's top concern and the nation's "fear of failure" will emerge as its biggest flaw. 9. The rental market in Panama City will see serious re-adjustments. No one really knows where it came from, but renting an economic (or reasonably priced) apartment in Panama City became really difficult in 2008. Due to a number of factors, 2009 will see hoards of new apartments added to the mix and once again, not unlike the scenario before 2007, great apartments in Panama's best neighborhoods will be available for reasonable monthly rates. This will attract young professionals who are dealing with unemployment/economic issues elsewhere in the world, as a less expensive option for relocation as well as bolster Panama's place on the retirement map. Note: The majority of these predictions revolve around Panama City as that is where most of the nation's big news is made. But if you happen to live in an outlying region, perhaps Bocas or Boquete or somewhere in the Azuero Peninsula, please use the comment section below to contribute your predictions for 2009 - how will Panama handle the pressure? Trackback(0)
Comments (33)
  written by nancy , January 01, 2009 panama is in for some dark times - it may have avoided the credit crunch, but panama will have plenty of its own problems to deal with.
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 written by Johnmack , January 01, 2009 Mr. Landau:
Panama stills a poor country but the poverty was reduced in 2008 at least 4 points according to the United Nations, the IADB and also to the government of Panama. Banks will not reduce credit they will have more strict rules but that is not going to have a negative effect on the contrary will be better. Why you say that Panama will attract illegitimate funds? Could you elaborate on that? It really sounds like nonsense to me, I might be wrong. As far as I know based on my experience, it is more difficult to open a bank or transfer money account in Panama than it is in Miami or Switzerland. report abuse
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 written by Mateo , January 01, 2009 Happy New Year Johnmack and thanks for the comment,
1) It really depends how you look at the credit thing: you'll notice I don't say this will be negative for the country, that the banks will stop lending money. I simply say that it will attract less investors, considering many of them originally came to Panama because it was so easy to get a loan. I agree that it will be good for Panama in the long run - to not be handing out credit like candy - but in the short term it will stunt the real estate growth severely (in addition to the economic growth that boomed in 2008 thanks to this sector). 2) Attracting illegitimate funds: Up until now, Panama has been a haven for this kind of money - protective offshore/privacy laws, ease with which one could open an account, lots of real estate to act as place holders. Recently though there's been a "movement" to eradicate this type, with banks stricter, immigration tighter, sellers more wary...etc. It is my prediction above, that with what's about to unfold in Panama, a serious and abandoning drop in real estate sales, Panama's top dogs will refer to what they know best to get them out of the hole, and that is accepting this tainted money. Opening a bank account is only a portion of the matter - as you don't need a bank account to carry in suitcases full of cash. It's my belief that, in an effort to save projects, developers will turn a blind eye. This already goes on far more often than people realize - I suppose what I'm saying is that in 2009 it'll be more transparent. Thanks again for your comments! - Matt report abuse
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 written by Boquete EX expat , January 01, 2009 Good read Matt,
But wait, there's more.... Allow me to highlight the untold negatives to life in Panama. Top Ten reasons to forget about Panama: 1) Gasoline is consistently more expensive than the U.S. 2) Housing prices now match or exceed those found around the U.S. - Can you wrap your brain around spending $1M+ for a home in Valle Escondido??? WTF???  3) Construction quality is not even close to homes in the U.S. 4) Hopefully you can live in an area that has 200 inches plus per year of rain. I hope you're not allergic to the stench, discomfort and destruction brought on by copious amounts of mold and mildew. Ohh, my poor leather shoes and handbags. 5) Worst water system ever (Boquete). 200 inches of rain per year and yet in the summer, they ration water. Yep, it's true. Prepare to forego daily showers and toilet flushes. 6) Poor grid. Get used to resetting your clocks everyday. If your're especially lucky, you get to replace appliances and computer power supplys when the surges and spikes stream through your line. And you get to pay in excess of $0.15 per kwh for the fine service. Compare that to what you pay in the U.S.. 7) Gringo Bingo! Be advised that you will pay more for services and commodities if you don't haggle hard.  Panamanians can't say NO! They rather lie and forget about you. 9) Crime (especially home invasions) are at an all time high and are escalating at an alarming rate! 10) Credit??? Just try and get a home mortgage in Panama!! Brace yourself for one nonsensical, frustrating, lengthy, foolish adventure. Granted, some of these you can workaround, others you have no control over. However, I didn't go there to be a pioneer, I went there for a lifestyle change. Panama didn't cut it for me. VAJ report abuse
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 written by Alan , January 01, 2009 While much of Panama is still in it's "coming out" on the world stage phase, I believe the stricter lending standards and softness in the condo market will not be what deters the long term growth of Panama. The condo/real estate bubble will only hurt the speculators and developers and work to the advantage of anyone willing to buy at distress prices. This will find it's balance as the rest of the world contends with the same problem.
The big issue in my estimation is the increasing crime that appears to continue unabated. This situation if it continues will not only scare off people thinking about retiring to Panama who will buy the next condo, inject cash into the economy as a zero cost consumer of Panamanian services and goods. Most importantly if people are afraid to vacation to Panama due to this problem, the tourist dollars will not be there either. Lastly, major corporations may re-consider opening new business in the country if employees fear being attacked, robbed, raped or held for ransom. The Panamanian government needs to double up its efforts to deal with poverty by providing better education and jobs for the poorest people. Those that choose to take the path of crime should be punished to the highest degree including minors. Panama has been publized as a low crime rate city. In the world of internet it only takes a half a dozen key strokes to see through the PR bull. They will have a very difficult time trying to resurect this image should the public perception be just the opposite. No amount of money or publicity will entice tourists or expats to live in a crime infested environment. there is nothing wonderful or relaxing about having to be "on guard" all the time. report abuse
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written by Alan , January 01, 2009 Matt, I wish you had a preview button on your comments
 Anyway, not to sound to pessimistic, a solution to begin to remedy some of the crime problem is to have the government sponsor education seminars and provide small business loans to people that want to cater to the tourism industry. Not only will this provide an opportunity to increase their income but hopefully make an attitude change towards how they view gringos and gringas that want to visit Panama. Rather than rob, teach them how to bilk a tourist out of their money with kindness and good service. report abuse
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 written by The Great Panama Hoax , January 02, 2009 Wait, I thought Panama was "one of the safest Countries in Central America?" WTF? Please, the PR propaganda machine that invented that one up is so full of it.
Besides, if it was...that means its safer than its Central American counterparts of: Belize, Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua. Yup, 6 of 'em besides Banana Republic. What a list too, huh? Hell, even the Gaza strip is safer than Honduras. Any one for picking up a taxi in San Jose, CR? What about the second poorest country in the Southern Hemisphere, Nicaragua? Dont even get me started on Belize, Guatemala, and Honduras. Its like saying you are more honest than Manuel Noriega, Saddam Hussein, the United Fruit Company, Wall Street, the CIA, and President Bush. I haven't met a Gringo yet who hasn't been: robbed, burglarized, held up, lifted - you name it. Usually, at least twice. If you LIVE here you know. And, the stats don't tell you truth. Who are you going to report to in Panama? Please. the Public Ministry? The police? Ha, while you are at it...close you eyes, click your heels, and sing "I wish I were home." I read all over that people keep saying that Panama has "missed the credit crunch." Hmmm. So, if the Canal is used to ship items from Country A through the Canal to Country B - and no one is buying or shipping, and the Canal doesn't get the tolls - isn't the crunch affecting Panama? If foreigners from outside the country have lost their money from: real estate crashes, stock market crashes, and simply overspending - and they therefore do not come to Panama to visit the shops, restaurants, clubs...isn't the crunch affecting Panama? And, since those same foreigners have lost all their loot...who will be buying all the over priced real estate and putting the money in the corrupt Panama Banks? Again, the crunch has been - and will be HUGELY affecting Panama. If you live and do business in Panama...you are already affected. And, the fun is just beginning. Its just getting started, baby. I laugh at comments like from Johnmack who ask, "Why you say that Panama will attract illegitimate funds?" HA! HA HA! Is that even a serious question? Let me guess. You work for a ACOBIR or La Prensa? Thanks, I could use some laughs. VAJ has some great on his list. Yup, and he also lives (lived) here. Huh. Funny how the comments are greatly different when people have lived or live here versus those sitting at an International Living Conference listening to presenters tell you to be careful not to get trampled by all the "50,000 foreigners flocking to Panama." Yah. Whose next up for a $500,000 Trump Tower apartment? Geez Matt, couldn't you add a few more positives in there? What about more Columbian prostitutes, more old dumb Gringos to make low ball offers too, and more kidnappers and hit men from all the soon to be not completed or canceled real estate projects? Man, there's 3 right there. Viva Panama. report abuse
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 written by Lamer , January 05, 2009 Whoever wrote the Panama Hoax comment managed to scare me. I have a couple of personal recent impressions to share and a few questions at the end.
I lived in Panama for ...3 weeks in 2008. At first, I did not like it mainly because I am coming from the Emirates where everything is dry, spick and span. The Tocumen airport seemed small and shaby and smelled like dump cloth. Downtown Panama City appeared to me not only overbuilt, but cheaply built, improvised, no planning, bad streets, pollution, trash everywhere, lack of decent parks etc., etc. I happened to pass through the slum on my first day and had a shock! I noticed the mold and mildrew on many buildings and wondered how often should these walls be repainted? Every year? But then, I stayed on Ancon Hill and something magic happened. I discovered as if from inside the natural environment. I loved the lush vegetation, the birds, the glittering seas, the skies dotted with pink clouds, the changing skies...From Ancon, all the city seemed much more serene and bearable. I could retire on Ancon. I actually wanted to buy anything on Ancon, even a damn ugly duplex. Nothing was for sale really and then the global crush hit... Early in 2007 I bought a nice ocean view 3 bedroom condo in the district of San Francisco in Panama City. It is now ready. I am working in the Emirates and am not ready to retire (in Panama or anywhere else). I was told I should be able to get a high monthly rent in no time. But common sense makes me raise an eyebrow. If gringos and Venezuelans with money bought their own places, if the global economy is in turmoil and less foreign executives come to Panama City, and if the local average income is $400, who will then pay a $2000-3000 rent per month for my apartment?! Don't tell me I escaped the Dubai hoax to end up in ...Panama. And what will happen to all those $500 000 and plus apartments or hotel condos if people bought them as investemnts only and not neccessarily as places to inhabit themselves? Was there indeed a need for more hotels or was this a bubble launched by greedy developers? Thanks, Lamer report abuse
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written by Lamer , January 06, 2009 Ok, I revisited this site and the words above. A bit neurotic, don't you think? What is bound to happen will happen. It would be stupid to consider Panama a hoax overall. It remains a place with great potential, wonderful natural environment, interesting mixture of cultures and an international crowd who has already invested in it quite a lot and might as well contribute further. Americans still have an interest in the Panama canal from an economic and a security point of view, so they will continue to support democracy and development in this country, even though they have other priorities at home. Panamanians have the ultimate power to screw it or save it for themselves and for the foreig investors as well but I don't think they are that stupid: to see it all rising from rubble to let it fall again.
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written by The Great Panama Hoax , January 08, 2009 Yes, Lamar...and we can all join hands, whisper sweet nothings into each other's ears and sing, "we are family."
I appreciate the fact that I sound neurotic. I mean...I live, work, and do business in Panama. So, I know first hand the real deal Holyfield. Which, if you poll anyone who lives in Panama...is much different than ice cream and gum drops. If I DIDN'T have different versions of reality about Panama when I live here versus someone who lives in Emirates, then I would re-think things a little. Actually, neurotic is anticipating $3000 bucks a month for rent in a San Francisco apartment. Heres a news flash for you. Panama City surrounds the ocean. Its ALL ocean view. Yah, you and 10,000 other new "ocean view" apartments. Guess you got confused with ocean FRONT, eh? report abuse
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 written by geri , January 09, 2009 i appreciate your experience in panama but would like to commend on some of your points;
you mention nicaragua, honduras etc. as such bad places - i have lived there (Nic.) and did my own business without being robbed or anything like that - ok things aren't that phantastic - services, roads, schools, banks etc. but if you decide to live and work in an third world country (panama is one of them) then you should not expect american or european standards. it would be wise to adapt to a certain extend to the local situation - if one isn't willing to do that he better remains in all perfect US or Europe - we can see just now, how perfect things are going there - massunemployment etc; presently i am living and working in morocco, casablanca another terrible place according to international studies and embassies web pages - i have even ventured to buy a luxury appartment and since 4 years i have absolutely no problems whatsoever in this "terrorist state" being an austrian citicen clearly not a local! of course there are problems here too but is there no robbery in europe, no criminals in the states (would you go to L.A. rather? where gangs are all over the place) however it would interest me to know from you what you think about COLON on the caribbean side as an investment or the mountainous parts of panama, and would you recommend to invest in a real estate agency? additional info: i wouldn't require any bank assistance to start business! overall we are planning to move to panama in early 2010 (might be a good timing as prices will fall surely) and i agree that difficult times are ahead but much will depend on the government. thanks for your reply geri ps.: dear Matt kindly also commend on my last question of investment. report abuse
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written by Lamer , January 11, 2009 Boy, someone is really frustrated down there in Panama City although, apparently, he did not become a fool like all those who did buy a piece of property. Relax, man. When you will consider renting my ocean FRONT apartment, I'll take Matt's advice and give you a massage. :-)))))
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written by Lamer , January 11, 2009 I am sure Hoax and Matt will give you their informed opinions. I'll say the obvious: that you MUST visit Panama (and stay for at least 2 weeks) BEFORE you decide to move there or to buy anything. If you plan to live and work in Panama, it might be better to rent before you buy. All the Colon area is extremely poor. The city of Colon is rated as one of the most unsafe places in Panama. The Carribean coast next to Colon is beautiful, but so much needs to be done for it to become a tourist destination that...we're looking at many, many years of sustained efforts. I visited the area in 2008. I also bought a beach property there. You must visit, even if you think you know what a "third world" is from the Moroccan perspective.
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 written by Daniel Quesada , January 13, 2009 Hey Matt,
I've been waiting for an article like this one. I really hope rental prices in the city drop this year. I'll be coming back in late February, early March. let me know if you see any affordable gems in the rental market open up. Great article. Talk to you soon. Best, Daniel report abuse
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 written by Panama corporations , January 20, 2009 Hi,
Panama has the advantage of a well documented and incredible history of transformation from a 1500’s backwater to the center of the universe in transits for goods and services in the 21st century. Another great advantage they see in Panama is the corporate and tax structure. Thanks Sofia. report abuse
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 written by Panamark , February 04, 2009 I too live and do business in Panama. I am amazed at the PR deception that the Panamanians have presented to the world. But then again I am not...Panamanians excel at the con game.
Panama is a dangerous place to live. I don´t just mean the obvious criminals. The police, courts, businesses, are totally corrupt. Try to critize anyone here, even if you tell the truth and you will end up in jail. If you have a legitimate dispute with a powerful businessman you will find yourself on a trumped up fraud charge brought by a DA buddy of the businessman, spending wads of cash to defend yourself. Lawyers can steal your money with no recourse. They are virtually immune from the prosecution. Your supposed resident visas can be revoked at anytime....read the fine print. Panamanians see you as a sheep to be fleeced. And they will. Almost all foreigners are ripped off here. Deep down inside they see you as a stupid soft gringo and they feel entitled to rip you off. Unlike Hoax, I know of one Gringo who has not been held up at gunpoint. One out of 10 or so Gringos I know well here. Crime in the Capital is out of control. Two weeks ago in my factory in the suburbs of Panama the local police were going door to door to sell to business owners illegal guns. Yes...the police...they confiscate them and resell them! I am liquidating my company quickly to get out of Panama...not a day too soon. It is a Hell Hole here and anyone who tells you different either hasn´t lived here or has something to sell you. report abuse
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 written by MJM , February 13, 2009 My wife and I have lived here in Panama for over 6 years, and we've struggled through most of it. Firstly, my wife speaks Spanish natively, and I am fluent. I can't imagine moving here with less Spanish. It's been nearly impossible to get Panasonic to fix our air conditioning unit, for two weeks now, and I can yell and badger quite well in Spanish. What in the world would we do if we didn't speak the language?
I was just back in the states, and it is true that grocery food, gasoline, and most importantly electricity is cheaper in the states relative to here. Its hard to eat lunch for less than 4 bucks here, and probably closer to 6-8 in the city. I did about just the same in the states. Furniture and electronics are more expensive here than there, with much fewer options and much less friendly warranty options. I am in my thirties, and here because of work. What other Latin American capital city would I like to live in? Hard to say. Panama City is getting more dangerous, but I've forgotten to lock my car doors (and front door) several times, without incident. Try doing that in most LA capitals. Traffic is also as bad or worse in most cities in Latin America (Mexico City anyone?). Also, the police are all bark and no bite, and are quite helpful if a situation becomes really serious (again, compare to Lima or Mexico). At one time, I thought once that my very-gringo, non-Spanish speaking parents would like to move down here. I know now better. When they visit, they can't really understand the culture (why is Juan the fix-it guy late? why are they talking on the cell phone in the movies? why do they drive like they've escaped from prison?) and end up rather bored here. There is a lot to enjoy about Panama, but it takes an adventurous spirit, and quite honestly pales to the adventure found in the Amazon, Andes or the colonial parts of Mexico. But we've settled in, and I don't want to move back stateside any time soon. But, honestly if you're close to retirement age and don't speak Spanish, come for at least two months (in the rainy season) before you consider making the plunge. I think that the second part of the hoax is the movement of many who came to move down and end up moving back. I know of many already. report abuse
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 written by Vic Reeves , February 17, 2009 People are investing their whole future here! Please do not tell lies about Panama. I do not know why you do such things. It must be for self-serving reasons. More cranes, more apartments and everyday more traffic due to the people coming here. Soon Cinta Costera be finished and the bay will be clean. I hope you stay for more time to get to the New Panama City of tomorrow.
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 written by Serge Bughovy , March 10, 2009 As is a massage full with the body in Panama? Here in Moscow is expensive. I m' heard that Panama is very cheap for the massage and the other services. Where you go for the massage? It is at the house or in a special house? Lamer debtor while letting know me know your price for this service.
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 written by Redderch , March 10, 2009 I like Panama. What is everyone's problem on here! So, it is not developed. Big deal. What do you expect? If you don't like then go back to whence you came. Stop posting nonsense and start talking sense.
Thank you. report abuse
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 written by La Mer , March 16, 2009 Someone posted this statement: "Panamanians see you as a sheep to be fleeced. And they will. Almost all foreigners are ripped off here. Deep down inside they see you as a stupid soft gringo and they feel entitled to rip you off. "
... and I am starting to believe it. Has anyone had any positive, honest, constructive interactions with reliable locals in Panama? report abuse
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 written by Fingal , March 17, 2009 Are you now saying you have not "had any positive, honest, constructive interactions with reliable locals in Panama"?
You now let slip an indication you may think you were ripped off? Why? Because of one person on an internet forum? That is highly unlikely. report abuse
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written by La Mer , March 17, 2009 an excerpt from the Latin American Monitor:
"Inflation is unlikely to be a major economic headache for Panama in 2009, as recent deflationary trends start to take hold. Panama's headline rate of consumer inflation came in at 6.8% y-o-y in December, just beneath our projection of 7.2%, on the back of deflating raw material prices and a slowdown in economic activity. As economic growth cools to 4.6% in 2009 from over 9.0% in 2008, and global commodity prices remains subdued, inflationary pressures will continue to recede in 2009. We see inflation finishing the 2009 at 4.0%, with risks to the downside given the precarious global outlook." report abuse
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written by Fingal , March 17, 2009 Clearly you do not live here. Panama will shrink in 2009, heavily in the latter part of the year. Safety will get worse, unemployment will grow. It is the other side of a bubble.
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written by Nostalgia , March 19, 2009 Matt, sorry, it looks like you have an infiltrator.
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written by Fingal , March 19, 2009 Dangerous infiltrator? Ah, the zone of good news only! Matt has been quite open to allow most comments. Not all. Clearly you only want the good news and anyone saying anything different is dangerous and infiltration?
Infiltration? The enemy has infiltrated the camp of happy glowing sunshine!!!!! Ahhhh, run for the hills! They are coming! report abuse
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written by Nostalgia , March 20, 2009 And you only let the bad filter through. It's OK. That's all you CAN do.
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 written by kathy , March 23, 2009 wow, i just read all ur posts. We wnat to move to Panama instead of the D.R. i didi alot of research and thought Panama was the one.. would be leaving the states for an easier, stress free cheaper way of life. So should we sell our home and our stuff to move there, just hubby and I and our animals? I read utilities and stuff were cheaper there than here. We know it is a poor primitive place, but what is going on here in the states is scary. we would buy a place in the rural/ mountains. we ar ein our 50's , middle class. I am looking ofr Americans view on this. this woudl eb a no turning back move for us. we can't go there for 6 months to live.. we have ot sell all here to move there, so it is do or die.. we just can't stand this givernemtn anymore here..
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written by La Mer , March 23, 2009 Kathy,
Indeed, after reading these posts you start questioning the image of a stress free Panama... Since you said you don't want Panama City but a rural place, check out Matt's article about Boquete with a long tail of comments by informed readers. Have you already visited Panama? When you say you did a lot of research about Panama, what sources did you use and how reliable were they ? Have you already talked to a Panamanian lawyer? These questions came to my mind when I read your post. Of course, you do not need to answer them in the open. report abuse
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 written by Fingal , April 06, 2009 Bring your guns. Get at least 4 acres and surround it with a minefield. Set up gun posts at the corners. Keep lights on at night! Hey hey hey. Don't listen to anyone (me, the realtors on here). Leave your house and come live here for a year or so....try and rent (yep, difficult because there aint any real market)
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 written by The Viking , May 18, 2009 Wow...you guys are ALL kind of either stressed out...all wet...or not seeing the big picture!.. I ve been here 28 years....working in Canal Ops...Panama is not perfect(where/what is?)..but it is a Damn site better than anything else in Central/Latin America....with perhaps Argentina or Chile ...as exceptions( in some ways).... take it from the Viking...Panama Rocks!..
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 written by Sumfin Furryvrone , June 19, 2009 What would wu we walking wabout, Wiking? So, better than the rest of LA except the good bits is something that Panama has going for it? Not as shite as some shiteholes is good? WTF? What is the big picture? Am awaiting your Norwegian enlightenment oh God of Panama.
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| Last Updated on Thursday, 01 January 2009 06:33 |
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You bring up some good points, most of them scary but true. I'd like to add that crime will surely increase in 2009 in Panama with all the tourists arriving (you can already see it reported in the papers). I noticed your list was overwhelmingly negative - does that reflect your feelings about Panama in general in the future? The sentiment I get from many expats up here in the mountains is the same way - that Panama is heading down the wrong type of path and has grown (or will grow) too much for its own good. Anyways, it was a great read. Thanks again, Ron Lewbow