What are some benefits of buying Volcan, Panama real estate?


Quick Answer

Tax and financial benefits, climate, cost of living, community and infrastructure are some of the benefits of buying real estate in Volcan, Panama as of 2015. Volcan is situated on the slopes of the 11,400 foot, dormant Baru Volcano in a tropical forest setting near the Costa Rican border. The city is just 45 minutes from Panama's second large metropolis of David and a short distance from coastal beaches and deep sea fishing.

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Full Answer

Several tax benefits are available to expatriates who choose to live in Volcan as well as those who simply wish to invest, including permanent residency visas for U.S. non-residents that can allow up to $80,000 in tax-free income. Resident visa holders can get real estate mortgages at preferred rate, and some qualify for 3 percent fixed loans for the first $62,500 in loan proceeds.

Homes and businesses in Volcan do not need heat or air conditioning. The area's average nightly temperature is around 60 degrees Fahrenheit with daytime highs rarely exceeding 80 degrees. Living expenses and many items such as groceries, utilities and domestic help are much less than in the United States. Volcan is surrounded by natural beauty with the relaxed lifestyle that a small town affords but easy access to modern electrical, telephone, television and Internet services.

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