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10 Things You Have To Know Before Buying Real Estate in Panama




Read this before buying property in Panama
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Panama City


What a history, what a place, what a destination. Panama City is steeped in history from founding of the city in the 16th century, to the days of the notorius Pirate Henry Morgan in the 17th century, to the declaration of independence from Colombia in 1903 and to the reversion of the Panama Canal to the Panamanian authorities in 1999.

Panama City has an ambience and vibrancy, not found elsewhere. The rich heritage and diverse cultural development has all melted together to create a truly unique and special place.

Panama City consists of the old quarter of Casco Viejo and the new city, which ironically was the site, more or less, of the original city. The City was founded on August 15, 1519 and was initially established a small fishing village. This site later came to be the centre for the Spanish in their conquest of the Americas, an all important strategic point for transporting all the gold that had been taken from Peru, as well as the Pearls from the Isla Contadora back to Spain.

When news of the riches had reached the outside world, the pirates came and in 1671 Henry Morgan practically destroyed the site, which gave rise to the Casco Viejo area, enabling the residents a better defensive vantage point. Over time the city has expanded and grown to become what it is today.

There are numerous sites for exploration, rich in historical and cultural significance that are open to the public. These include all the monuments in the Casco Viejo district, as well as in neighboring towns like Portobelo.

When one explores Panama, you cannot help but feel the history and perseverance that contributed to the establishment of this strategic city, it is as if the history is alive all around, reflected by the red brick paved roads in the old quarter, to the Las Bovedas – there is so much culture and diversity here.
The historical importance of religion is reflected in the cathedrals and churches located in and around Panama City, as well as the various convents located here. The cathedral was a valuable defensive structure in the past, as well as the site for the Panamanian declaration of independence, in 1903 – at the central plaza opposite the Cathedral.
The importance of nature to the Panamanians is even reflected in the cities and towns, as one can even take a walk up the nearby Ancon hill, which is covered in dense rainforest like vegetation, where at the summit you can view a fantastic panorama of the city and the Pacific Ocean.
The Panama Canal has been a valuable contributor to the economy of Panama, as well as to the tourism and investment within this country. It is indirectly administered by the government, via the Canal authorities from Panama City. There is a museum for the inquiring minds to view the history, trials and hardships endured by the French, and the Americans who came to build the canal with the local workforce, a fascinating journey into this man made marvel.
The city is ever growing, whilst still experiencing a tourism and real estate boom, it is in itself a mixture of ultra modern as well as historic elements and it offers a wonderful experience, if one explores all it has to offer. The centrality of the city makes it a perfect base, with superior infrastructure to explore the rest of this really beautiful country.

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