Price: $315,000

Square footage: 2,450

Bedrooms: Three

Bathrooms: Three full, one half-bath

Kitchen: One full

Located near San Carlos Beach, this home has an open kitchen with granite countertops, a two-car garage and is situated in a gated community. The neighborhood's social center, which is under construction, will provide residents with a pool, tennis court and clubhouse.

A wide range of expats live in Panama -- from young professionals to retirees -- so it's easy to find like-minded people, says Janet Novak, a real estate consultant for RE/MAX Panama City. The U.S. State Department reports that around 27,000 American citizens reside in the country with a rapidly growing number living in the Chiriqui Province in western Panama.