Panama ‘a top destination for retirees’

Panama has been named among the most desirable destinations for people to retire to by a new study.

Reuters reported on the Retirement Index 2012 released by International Living magazine, which cited the South American nation among the top three places in the world to live after retirement.

One of the reasons why buying a property in Panama may be an attractive prospect is the low cost of living in the country, one expert claimed.

Speaking to the news provider, special projects editor for International Living magazine Dan Prescher commented: "The proposition is that you can live better for less, and not sacrifice anything, if at all, in quality of life and still live on half or less of what your cost of living would be in the US or Canada."