There are numerous advantages to buying a property in Panama as an investment, one local expert has noted.
Founder of ThePanamaReport.com Matt Landau commented that the country "offers an attractive blend of developing world opportunity and first world security".
Legally, foreigners are afforded the same rights as locals when it comes to owning property, while the government has also introduced a number of schemes to encourage people to invest in real estate here.
Among them are providing a special visa for small investors, as well as exemption from tax for 20 years, Mr Landau explained.
He also pointed out that the infrastructure in Panama is strong, while the country uses the US dollar as its currency, which is seen as an advantage by most who invest in the nation.
Last month, International Living named Panama as the third best place in the world to spend your later years in its Annual Retirement Index.
The pensioner's benefit package - available to both locals and foreigners - is one of the main things that sets the country apart, the organisation claimed.