Anyone can buy and own property in Panama. Foreigners have all the same rights and protections under the law as do native Panamanians. Properties, large or small, can be titled to individuals or to corporations. If title is held by a corporation, one purchases the shares of the corporation and the property becomes part of the transaction. Panama has a reliable public registry system and buying property here is not that much different from doing so in Canada or the United States.
There are advantages to owing property in Panama. Panama is safe and is stable politically and economically. The national currency is the U.S. dollar. Inflation is low. The cost of living is low. Many Canadians, Americans and Europeans have already taken up residence or purchased property in Panama. The Panamanian climate varies from steamy tropical at sea level to cooler, less humid temperatures in the mountains, where Roca Milagro is located.
Owning Property at Roca Milagro
Becoming part of the Roca Milagro community is simple: Get to know us, pick a building lot, make a deal. Then, decide whether you want to build as soon as possible or to delay until some future date of your choosing. Perhaps you simply want to make an investment in Panamanian property without building at all, at least at present. There is no pressure from us. Many of the individual Roca Milagro partners will be building homes in our development at some point and we would love to have you join us. We are a group of Canadian, American and Panamanian investors and professionals with varied experiences and interests. We think you will fit right in.
Cost of Building
Building costs are quite a bit lower in Panama than in North America or Europe. In 2008, building costs for luxury homes in our general area were $65.00 or less per square foot. A 2,000 square foot home would cost approximately $130,000 plus the cost of the land. Prices for construction may now be decreasing somewhat due to the economic turmoil in our world. Some materials like steel are coming down in price. Ask us. We'll try to get you the latest information.
Several of our individual Roca Milagro partners in Panama are building contractors. We also shop other independent contractors and architects on your behalf, so as to give you the most freedom of choice and the best possible pricing opportunities for your dream home. You are also free to find your own architect and contractor, if you wish. Subject to building standards which will be outlined in covenant form between Roca Milagro and its inhabitants, we want to give you the freedom to live your dream, not to settle for someone else's version of what they think your dream should be. We have your best interests at heart.