Panama City has been named as one of the best locations in the world for investors seeking a buy-to-let (BTL) property.
According to research conducted by Global Property Guide, residential real estate in Panama offers good returns and "excellent" long-term investment prospects.
The organisation pointed out that annual rental yields from housing in Panama City currently stand at 9.08 per cent, which makes it an attractive prospect for BTL investors.
Retirees are often attracted to Panama due to the raft of benefits offered to pensioners in the nation.
Among them are a 30 per cent discount on bus, boat and train journeys, a 15 per cent reduction on the cost of dental and eye exams and half-price access to a range of entertainment, including cinemas, theatres and sporting events.
US citizens in particular are drawn to Panama as a retirement destination due to its proximity to their home country and the cheaper cost of living.