Continental Airlines inflight magazine is carrying this article about Real Estate in Latin America. There is a nice feature on Panama.
Excerpt;
“Both the ex-pats and the Costa Ricans themselves who live near the
border were saying you should be looking in Panama,” he recalls.
The reason: Costa Rica had been so successful at making its
beachfront real estate appealing to North Americans that bargains were
becoming harder and harder to find. Panama, on the other hand, has many
of the same attractions as Costa Rica — including mortgage financing,
title insurance, and an easy process for buying a second home — but at
much lower prices.

