Expert: Lorena Mlns - 12/30/2007

Question
QUESTION: Lorena I am looking to retire and move to Panama probably during the first week of Feb 2008, I will have around $800 per month to spend for rent what sort of property can I expect for this. Can you please make some suggestions, I would prefer somewhere pretty and quite either within Panama city or close by - short taxi ride. Not far from a beach if possible.
thanks
David

ANSWER: Hi David,
Due to the increase in the amount of people coming into Panama to buy property, prices have increased in a way I cannot describe. They have almost doubled and so has rent.
Are you thinking apartment or are you thinking of a house ?
Will you need one or more bedrooms?
In regards to the beach, are you thinking of it to look at it (sea view) or to bathe in it ? I am sorry if this sounds like an unusual question but it is important to know so I can suggest accordingly.
All the best,
Lorena




---------- FOLLOW-UP ----------

QUESTION: Lorena
Thanks for your response. I was thinking about an apartment. I will just need the one bedroom. What sort of property would $800 per month get me?
Regarding the beach both really to enjoy and a sea view, however considering your point about the rent I am flexible.
thanks.
David  

Answer
Hi David,
I did a quick check to update myself in regards to current prices and so I could give you precise information.
Checked beach rentals and they have sky-rocketed, I found that most properties are for sale, not rent and that the prices are starting at almost 200 a day which seems outrageous (Coronado beach at one hour and half from the city).
So I discarded the beach apartment idea and checked apartments in Panama city and most of them begin rent at 750-800.00 usd.
From what I was able to see these are all in good, safe areas: El Carmen, El Cangrejo, Paitilla, Bella Vista. Most of them furnished and have 24 hr private security. Most have elevators and should offer a pleasant view.
I would recommend you browse through www.compreoalquile.com
which is a site I personally used to sell my apartment a few months back. They have pictures of the places and contact information for the owners or realtors offering them.
Please let me know if you need additional information and good luck.
Lorena