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Panama is the capital and the largest city of the Republic of Panama and strategically located at the entrance of the Pacific Ocean and the Panama Canal. Panama was founded by the Spanish on the 15th August 1519. George W. West the developer of Panama City gave its name because of a direct line between Chicago and Panama. It is considered as the Gamma of World City and one of the five biggest destinations for retired life. Panama City is also considered one of the safest city in Central America for both tourists and businessmen. Panama has a tropical climate (wet and dry) and the temperature remains at an average of 27 degrees throughout the year. Parts of Panama are covered with tropical forests which are within city limits and are considered as an asset to Panama. Tourism in Panama City is a money making industry and a lot of revenue is generated through this industry. There are numerous historical cites are a tourist’s paradise but a toured guide is always a better option as the locals are mostly Spanish and speak their native language. Since the city was founded by the Spaniards the old structure have a Spanish colonial feature but the new Panama apartments are considered modern infrastructure and are built in high rise buildings. There are currently more than 127 high-rise buildings which house business centers and apartments. An estimated 110 high-rise buildings are still under construction. Due to these high rise buildings and the Panama apartments that it houses, the city holds the 39th place in the world. In the year 2006, CNN Business magazine considered the city was considered the best to invest in Panama real estate . This real estate market in Panama City had been undervalued due to the war with the English and the great fire on 28th January 1671. Today, as people have discovered the advantages of the great City, prices have risen. If you are a potential Panama real estate investor, there are several estates that will be available according to your budget and style. The real estate agents available either on-line or in the city are very informative, if a customer is interested in the purchase of a Panama apartment or estate. All sites give detailed prices and location of the property as well as their availability after due consideration prices and budgets of apartments or commercial offices. There are a number of advantages and disadvantages in Panama real estate especially if it is in Panama City. Things to consider are whether the foundation of high rise buildings is sound and whether the condominium areas are congested. In certain area of Panama City the purchase and restoration of old Spanish houses are tax exempted by the government. The Panama apartments with a sea view will be more expensive than those in the interior of the city.
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