Writing for Palo Alto Online, Nancy MacLeod highlighted aspects such as the country's climate and the availability of land as some of the things that make Panama popular among expatriates.
She added that the people are "happy and friendly", there is an excellent infrastructure in place and noted Panama has a worldwide reputation as being a top retirement destination.
Ms MacLeod advised anyone considering buying a property in Panama to hire a lawyer to assist them with the purchase process, including the payment of any local taxes.
Any transaction for an existing home will incur a levy of two per cent of the price, while there are no real estate taxes to pay for 20 years if you build your own house, she explained.
Earlier this month, Panama Equity's Kent Davis named Pedasi, a coastal area in the country, as something of a development hotspot in an article for Nuwire Investor.