RE/MAX Paradise Found - Panama Real Estate

About Panama

Location The Republic of Panama is located in the center of the western hemisphere, between the coordinates 7º12’07", northern latitude and 9º38’46", western longitude. The country limits, to the north, the Caribbean Sea and to the south, the Pacific Ocean. Colombia lies to the east, while Costa Rica can be found to the west. Panama serves as a connector, between Latin and South America and, at its narrowest, is a mere 80 kilometers wide.

Area Panama’s extension is of 2,000 kilometers and the total area is of 29,157 square miles or 75,517 square kilometers.

Topography, Hidrogeology & Resourses The country is mountainous towards the coast of the Caribbean, with rolling hills and extensive savannahs towards the Pacific. A mountain range that forms the spinal cord of our country shaped like a laying down “S” with altitudes higher than 8,000 feet above sea level. Panama’s greatest elevations are: Volcan Barú 3,475 mt, Cerro Picacho 2,986 mt., Cerro Fabrega 3335 mt., Itamut 3,279 mt. and Echando 3,162 mt. More than 1518 islands are located in the territorial area of Panama, the country of Panama has more than 500 rivers and more than half of Panama is covered by forests. Panamá has 15 national parks, a dozen of forests reserves and ten wild life shelters. The Barro Colorado is the first scientific tropical forest investigation center in the planet, the most studied in the world, located in the Canal in the Gatun Lake and is operating since 1923.

Political Division Administrative: Panama is comprised of nine provinces, 75 districts, 5 comarcas and 589 counties.

Population The population of Panama is of 2.9 million people, with a population density of 81 per square mile; it has a genes proportion of 37% indigenous origin, 37% black origin and 26% white origin; 40% of the population is concentrated in the capital. Panama is occupied by seven indigenous ethnics which we can mention the following: Embera-Wounaan (Chocoes), Kuna de Madungandi, Kuna de Wargandi, Ngòbe Buglè, Teribe, Bokotas, Bri-Bri.

Language Primarily Spanish, although English is widely spoken and understood in most civilized areas. There are also various indigenous dialects and minority groups have established the speech of such languages as Italian, French, Greek, Chinese and Hindu, among others.

Government The Republic of Panama is a sovereign and independent country. The Government is Unitary, Republican, Democratic and Representative, comprised of a President, two Vice Presidents and twelve ministers of state that govern the Executive Authority, the Legislative Assembly, with 72 Legislators and 9 Magistrates.

Education Panama has a large part of the national budget in it's education. It's Public and Private schools are both under the supervision of the Ministry of Education. The schooling system is organized into the levels of Primary and Secondary, each of which run for a period of six years and are ultimately followed by superior or University education. There are eleven Universities in total, with The University of Panama and The Technological University being official, while the Santa Maria University, Latin University, Isthmus University, Inter-American University of remote education, The State University of Florida, Latin-American University of science and technology, Panama Canal College and Columbus University are all private institutions.

Religion 85% Catholic, 15% Protestant

Climate The climate of Panama is typically tropical and the average temperature is more or less uniform throughout the year. The nights in Panama are generally fresh and the average temperature is 27ºC. The country contains two main weather seasons - the rainy season runs from May until mid november, while the dry season, mid November until April. Click www.hidromet.com.pa for a full hydrometeorology report

A Brief History of Panama

IPanama means: “Abundance of fish, birds and butterflies”

Panama was discovered by Rodrigo de Bastidas in the year 1501. Christofer Columbus arrived in 1502 to the Panamanian coast and founder of Portobelo in Colon. At this time lived 400 thousand indigenous and in the sixteenth century they where exterminated by 95%. In 1506 the Spanish crown decided to conquer the territories from Central America to Venezuela. Diego de Nicuesa was given the task of colonizing the present day countries of Panama and Costa Rica. He was unsuccessful. The closeness in this region of both oceans transformed the isthmus into a highly important geopolitical area. Panama became the trade center of the Spanish regime in Central America. The ships from Spain arrived at Portobelo in the Caribbean coast and the cargo crossed the isthmus towards Panama City. Goods were then distributed to all of America in the Pacific, from San Francisco to Santiago. Pedrarias Davila established on august 15th, 1519 the city of Old Panama. In the year of 1671 it was plundered and left in ruins by the Pirate Henry Morgan, plundering it three times in total looking for gold. The ruins are being maintained until today and the most known are: The House of the Cabildo, The six Convents and the Metropolitan Cathedral. Other places to visit from those days is “the Casco Antiguo” situated on the west coast of the Panama Bay, “the Vaults” built by the Spanish, the Tour of the General Esteban Huertas, the Plaza of Francia and the church of “Nata de Los Caballeros” among others.

Panama separated from Spain by becoming a part of the Great Colombia on November 28, 1821. In 1831, when the civil war erupted, Panama was separated for more than a year from New Granada, with the intent of forming the Colombian Confederation, keeping it’s autonomy.

In 1855 the State of Panama was created, and a part of New Granada (currently Colombia). The first references are expressed in the military intervention rights that the United States gave themselves in Panama in the Mallarino-Bidlack treaties of 1846, signed by Washington and Bogota. The document gave the United States authorization to build a International Railroad which was triggered by the discovering of gold in California

Panama, backed by the United States, completely separated from Colombia on November 3, 1903.

Alter the failure of the French Canal, the US Americans initiated efforts to built a canal. The construction of the Panama Canal began in 1903 and the Panama Canal Zone became an American protectorate. The canal was finished on august 15th, 1914 and was considered the eighth wonder of the world at the time. The Panama Canal measures 50 miles from the Pacific to the Atlantic and it takes between eight to ten hours for a vessel to cross from one side to the other.

The Panamanian constitution was modified on several occasions. General Omar Torrijos Herrera came to power in 1968 and he would remain in power until his death in 1981. In 1983 the constitution was changed once again. Between 1984 and 1989 the country was led by the armed forces led by General Manuel Noriega and because of his policies regarding the Canal and his personal activities in drug trafficking led to an American military intervention and Guillermo Endara took over as President.

Despite the many economic problems that Endara had to face the government managed to get the country going again. Several failed coups were registered between 1991 and 1992. Endara’s term was finished in 1994. Ernesto Perez Balladares became President from 1994 to 1999 and Mireya Moscoso succeeded him in 1999 until 2004. In September 2004, Martin Torrijos Espino was sworn in as President for the following five years.

Information provided by the Panamanian Tourist Institute - IPAT