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Cash in on a home away from home: promising property hotspots for 2008

Wednesday, 2nd January 2008

My hot tip for 2008 is Panama, one of the best places in the world to retire with or without a canoe.

Panama

My hot tip for 2008 is Panama, one of the best places in the world to retire with or without a canoe. It’s safe and highly civilised, with good infrastructure, a growing economy and favourable tax laws. Britons are not subject to double taxation on their property and UK-based income, English is widely spoken and private healthcare is inexpensive.

Best known for its famous canal, this small Central American country, bordering Costa Rica and Colombia, with its thriving capital, Panama City, has a tropical climate, volcanoes and rainforests. With two coastlines on the Caribbean and the Pacific just 50 miles apart (outside the hurricane zone), it also boasts white sand beaches and coral reefs lapped by a clear turquoise sea.

The cost of living is low and the government is seeking to attract foreign retirees with its Pensionado Programme. An income of $500 (£251, e345) per month is required to qualify ($600 for a couple); retirees are entitled to discounts of up to 50% on hotel stays, airline tickets, utility and restaurant bills, medical consultations, dental and hospital treatment.

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