Individuals looking for property in Panama have been told that beach homes in Coronado are particularly popular.
Alternatively, Gorgona is another place that savvy buyers are finding opportunities within.
"There's a growing expat community here and even a new international school. Best of all, the real estate is much less expensive … as much as 50 per cent less than in Coronado," International Living reports.
The news provider explains that a plot of land about 6,000 square feet in size can be purchased for just $25,000.
"Considering it's just five minutes from the beach and boasts municipal water and power lines, this property is a steal."
Meanwhile, a growing number of older Britons are planning to relocate abroad by 2012, new research from the Centre for Future Studies has revealed.
The organisation notes that as well as the traditional overseas destinations favoured by emigrating Brits, a number of more leftfield locations are now cropping up, such as Panama.