OK, let's do a quick comparison on 2 pieces of Real Estate, one in Hoboken NJ and the other in Coronado Beach Panama. The best way to understand cost of living is in real estate as this is always the biggest chunk of money we all spend on a monthly basis. so here we go.
700 sq feet in Hoboken - cost in today's dollars $365k, yearly taxes $8200, monthly condo fee's $263 (no amenities)
580 sq feet in Coronado Beach Panama - cost in today's dollars 65k (fully furnished), yearly taxes $400 (maybe), monthly condo fee's $116 (gated community, swimming pool, tennis courts, social area included)
Let's say you wanted to rent either of the above properties instead of buy
Hoboken Property $1800/month (NO amenities); Coronado Property $450/month (Amenities stated above)
So, if you wanted to retire or live a better more relaxed life where would you want to start? If you can save this much money on your main living expense look at what you will have left over to enjoy your daily activities? Come to Panama and turn your frown upside down.
Is Panama The New America
Panama fun facts.
1 - Panama has NO hurricanes
2 - Panama has a thriving Metropolitan city in Panama City
3 - Panama has secure banking institutions
4 - Panama has a climate for everyone, city, beaches, mountains
5 - Panama uses the US Dollar as its currency
6 - Panama is a short flight from many major cities in the USA
7 - Panama has many English speaking folks, Spanish is the main language
8 - Panama welcomes foreigners to live and work.
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