Property buyers 'should look beyond Panama City'

People looking for a property to buy in Panama should be willing to consider homes in locations outside Panama City.

This is the advice of International Living Magazine, which noted there is a "world of choice" for those who explore beyond the country's main metropolis.

According to the publication, destinations such as Boquete are a good choice, with this town in the highlands singled out because it boasts a favourable, year-round climate, as well as being within easy reach of Panama City.

Meanwhile, those looking for a bargain Panama property may want to consider Volcan, another highland settlement where homes are available for as little as $50,000 (£31,900). Coronado, situated on Panama's coast, is another option for buyers and is recommended for people seeking a beachside house.

Last month, Kent Davis, of Panama Equity Real Estate, told the Panama Report that 2012 will be a "buyer's market", predicting price falls in Panama City over the next 12 months. However, he anticipated real estate values will start to climb again in 2013.