Real Estate in David, Panama

The town of David (San Jose De David) is the third largest town in the country of Panama. David is the main city of the province of Chiriquí on the west coast of Panama. David is located near the Costa Rica border the neighboring town of Boquete which is well known for coffee production and flowers. The population of David is an estimated 125,000 people. Over the years David and its neighboring town have become very popular for persons wishing to retire and settle down in Panama owing to the fact that they area is very peaceful and calm and has many natural resources, attractions, lands and real estate property for sale. Panama has is one of the best country’s to retire to and over the years the number of retirees to the country has increased.

David real estate available for sale includes vast amounts of lands. The lands which are up for sale include farm lands and undeveloped lands. Some of the lands available are close to rivers and have great vistas. These lands all have potential for development whether it is for building homes or investing in the tourism industry by building accommodations for the growing number of visitors to David. David is an ideal place to settle down as there are beaches and rivers nearby and the town has a very low crime rate.

Also available in the town of David for sale are apartments, homes and condos. The houses for sale in Chiriquí all come with modern amenities and features. The prices are very reasonable compared to other parts of the world. There are farm homes available with prime lands to practice farming in peaceful areas. Also available for rent in David are homes and apartments located in very quiet areas.

Buying Real Estate in David or any other part of Panama is relatively trouble free. According to the laws of Panama foreigners have the same property and title rights which are guaranteed for citizens. When buying real estate especially land in Panama the buyer has to review the land title at the Public Registry to determine the rightful owner of the land. The next step is to sign a contract called a Promise to Sell and Buy called a Compraventa. As the name suggests the contract simply states that the seller agrees to sell whilst the buyer is in agreement to purchase an amount of land or real estate. This generally gives both parties time to sort out any problems; the seller has to produce documents showing the size and lay of the land while the buyer has to come up with the necessary financing. The final step is known as the public deed. When sales are final and the necessary documents are signed they are notarized and registered at the Public Registry which will show the buyer as the legal owner of the real estate.

As an added incentive to persons who wish to purchase Panama real estate the government had passed a law in 1997 that anyone (foreigner or national) who purchased real estate in Panama by August 2007 would be granted a 20 year tax exempt period. The Government of Panama has further extended this date to December of 2009. This means that persons still have the chance to take advantage of this great offer, and it is never late to register tax exempted Panama company.

As already mentioned Panama is one of the best countries to retire to. Foreign Retirees who decide to relocate to Panama to spend their days will enjoy major discounts and tax concessions. They will receive discounts at hotels, medical centers, at banks, airlines, and for technical services etc. Tax concessions will be granted on the importation of vehicles and items for personal use valued at up to $10,000. Retirees have a list of properties to choose from: condos (Panamanian Condos have gained much popularity), farms homes, ranches, apartments and villas. The town of David is a quiet town with friendly people. An ideal location for people to bask in nature.