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| ARTICLES - Panama Real Estate |
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| Panama Profile |
2008-03-06 09:00:00 |
If you are considering buying and/or investing in Panama real estate, you might want some facts about the country where your future property is located.
Panama is bordered by the Atlantic Ocean to the north, the Pacific Ocean to the south, by Central America to the northwest, and South America to the southeast. The Isthmus is a natural land bridge that links North America and South America. In its lowlands, Panama has been blessed with its cosmopolitan capital city featuring luxurious high-rise buildings, shopping malls, modern hospitals, and a myriad of other attractions including beautiful beaches and fabulous beachfront resorts - just one hour west of the city. Panama s mountain highlands offer a very cool climate and the wonders of various rain and cloud forests, a bird watcher´s paradise with over 900 species of birds. Panama is a wonderland for nature lovers in general...yet still you find first-class residential projects with a host of amenities and conveniences available.
Some General Facts about Panama
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Total Land Area: 78,200 sq. km. 30,193 sq. miles
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Longitude/Latitude: 9° N, 80° W.
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Capital: Panama City has a population of 1.1 million and is located at the Pacific entrance of the Panama Canal. It is the administrative, cultural, economic and political center of the country with many tourist attractions - including the Panama Canal itself.
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Climate: Predominantly tropical, with two seasons - rainy and dry- running May to November, and December to April, respectively.
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Population Density: 43/km2; 111/sq. mile.
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Population: 3.2 million.
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Languages: Spanish is the official language, but many Panamanians are bilingual and speak English, especially businessmen and professionals in the Capital. Indigenous languages are also spoken in the various native Indian communities.
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Religion: Panama has no official religion. However, the vast majority are Roman Catholic 80%, Protestant 12%, Islam 4%, others 4%.
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Water: The quality of water provided by the government is high and constantly monitored. However, in rural areas, bottled water may be a better choice.
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Currency: The Balboa is the national currency, and is at par with the U.S. Dollar. However, the U.S. Dollar is legal tender, and has been in use since 1904. Panama only mints coins in the same denominations as those in the U.S. - in fact U.S. Coins are interchangeable in the Republic. Major credit cards are also widely accepted.
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Time Zone: GMT-5 or -6 during DST
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Electricity: 110-120V, 60 Hz, standard 2 or 3-prong plugs.
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Provinces: There are 9 provinces: Bocas del Toro, Cocle, Colon, Chiriqui, Darien, Herrera, Los Santos, Panama and Veraguas; plus 3 indigenous regions.
Panama has so much to offer. Come see for yourself!
Think Panama!
For All your Panama Lifestyle and Real Estate needs contact
Douglas M. Choy at
ThinkPanama.com. They will be happy to provide any guidance and information you may need.
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