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Please click on the questions below to be directed to the answers;
Living In Panama FAQ's
Vista Boquete Condos FAQ
Is Panama safe?
Panama was recently reported by Pinkerton Intelligence Agency to be one of the safest countries anywhere in the world.
There is very little violent crime. Like anywhere, there are certain neighborhoods to be avoided . Don’t go out late at
night, alone, into areas you don’t know. Don’t carry a lot of cash or wear jewelry. On the whole, Panamanian people are
widely recognized as some of the friendliest, most helpful, most generous people anywhere.
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Do I need a visa to enter Panama?
American citizens do not need a visa. Simply purchase a $5 tourist card from your airline at the ticket counter on
the day of departure for Panama. A tourist card gives you an automatic 30 day stay in Panama and is extendible for
another 60 days.
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How is the drinking water?
The US CDC website recommends protection against malaria, yellow fever, typhoid and hepatitis A. Unless you are going
to be spending time deep in the jungle, these are not necessary. It is safe to drink the tap water almost anywhere in
Panama. If you have any concerns, bottled water is readily available and inexpensive.
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Is Panama politically stable?
Since Noriega’s removal from power in the late 1980’s Panama has flourished. There is no military presence to speak of
and the police deal with normal public safety issues like traffic, crime etc.
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Is it inexpensive?
In Boquete you can spend $10-$20 for a room at a hostel, $50-$100 at a nice B&B, and there are lots of other desirable
options in between. A first-rate filet mignon dinner at Boquete Bistro costs $10. Groceries are extremely inexpensive and
fuel is consistent with prices in America.
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Can I use credit cards and travelers checks?
Credit cards are widely accepted and there are ATM’s everywhere. Travelers checks are not as easy to use.
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What is the national currency?
The US dollar is used in Panama.
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Is Panama English speaking?
Many Panamanians speak English and many speak it fluently. English has definitely become Panama's second language.
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How often does Panama get hit by hurricanes?
NEVER! Panama is the only country in Central America in a climate zone that is absolutely hurricane-free. There has
never been a single recorded hurricane to hit its shores. Panama also has none of the destructive earthquakes that
plague its Central American neighbors.
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How is the health care system?
It is very similar to the USA. Many of the doctors have been educated in the United States and choose to practice in
Panama. There are several great hospitals in the country including a brand new Johns Hopkins Hospital in Panama City.
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What can I expect as it relates to food in Panama?
One of the most often heard compliments about our exploration tours is that the food is far better then they ever
imagined. Panama is proud of its incredibly diverse population which brings the best in food specialties from around the
world. Add to that the proximity of the finest fresh seafood and you have it all.
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What time zone is Panama in?
Panama does not observe day light savings time so the clocks do not get changed twice a year. During daylight savings time Panama is on Central Time Zone.
When daylight savings time is not being observed Panama is on Eastern Time zone.
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Why should I buy A condo versus buying land and building a home?
This is a matter of preference by individual buyers. However, most people don’t realize that after purchasing land in or around Boquete. It can take from to 1 to 3 years to build a custom home using Panamanian contractors and builders. During constraction, it is vital for you to stay in Boquete to oversee the work to ensure you meet this completion time (and budget). After completion, you have the dilemma of maintenance and security when you are not in residence.
Our condos are perfect for those retirees, second home buyers, investors or vacationers who simply want a maintenance free, secured, turn-key type of home they can simply “move-into” and don’t have to worry about when they are gone.
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What are the prices?
Vista Boquete prices range from $275,000 to $345,000 (*please contact us for the latest prices) depending on which building and which unit you choose. We have a total of (7) buildings with (6) units per building equaling (42) exclusive units for sale. Our buildings four through seven will be more expensive due to the incredible views of the picturesque town of Boquete, Caldera River, Volcan Baru, and the surrounding mountains. Contact us for individual building prices.
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When will construction begin?
Construction began on Sept. 1st, 2006. We have a very aggressive construction schedule, beginning a new building every two months. Our only focus is Luxury Condominiums which really sets us apart from most developments in Boquete.
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Will I receive the 20-year tax exoneration with your condos?
Yes, we received our construction permits and all registration within the year this law was still valid. If the 20-year tax law is not passed in 2007, our condo owners will still benefit from this law even if they purchase a unit in 2007. As well, anyone who sells their condo in the future, the new buyer will inherit this tax benefit with the time remaining – the tax benefit stays with the condo. To learn more about the incredible Panamanian 20-year tax exemption law, contact us here.
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What’s the real estate market like in Boquete?
Our condos average around $130 per square foot, which is comparable to most real estate for sale in Boquete. The same size condos and floor plans with almost exact amenities in Panama City average over $250 per square foot. By quickly doing the math you can see that the Panamanian Real Estate market is growing quickly. Boquete has seen real estate values double in the last year; however it has stabilized greatly which is generating more attention from buyers.
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Where exactly are the condos located in Boquete?
Vista Boquete Condominiums are located in Alto Boquete. Alto Boquete is about 5-miles outside of town and rests at a higher elevation than Boquete. It is cooler in Alto Boquete and provides constant fresh air so humidity is not a factor. The average temperature is 70-80 degrees year round, very similar to the California climate. Alto Boquete is also known for possessing some of the most beautiful views in Panama to include the Caldera River, the town of Boquete, and Volcan Baru.
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What will the HOA fees be?
Vista Boquete condo HOA fees will be around $170-200 per month and will include everything. Once Vista Boquete receives 60% occupancy, Vista Boquete would like to turn over the HOA to the association. The fees are based on maintenance and upkeep of the tennis courts, putting greens, pool, (2) cabanas, and landscaping, and provide 24-hour gated security, and more.
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What are my finance options?
You have plenty of finance options. We work with Scotia Bank, HSBC, and many other well-known and reputable international banks. Please email us to request a brochure about the finance options available from each bank. To give you some examples, Scotia Bank is offering up to 90% Loan To Value with 6% rates, not bad! Contact Us Here about mortgages
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I will live in Boquete only Part-Time; will my condo have security?
Yes, your condo will be highly secured via 24-hour security service at the entrance of the condos. Your condo will be highly secured. We also provide very affordable insurance plans if you are interested.
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Who will my neighbors be?
Your neighbors will come from all nationalities and walks of life. We have found that most foreigners living full-time or part-time in Boquete have a special personality of adventure and genuineness. The community in Boquete is very active: many individuals focus heavily on helping local charities or just enjoying an active lifestyle. It will be hard NOT to make friends within our planned community at Vista Boquete.
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Do you have a rental management program?
Yes, we will have a rental management program on site. To learn more about its features, please email us.
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Will there be insurance available for my condo?
Absolutely! We are working with the most reputable insurance company in Panama with very reasonably priced policies that cover almost everything. Our full coverage policy that provides protection from natural disasters averages less than $500/year – very affordable!
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Did we not answer some of your questions? If, so – please ask us!
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