Although the recession caused a business downturn here it caused a substantial "correction" in property values on new, high end property throughout the country. Whether one likes the mountains or the shore Panama has both. Panama City is an exciting Latin American capital city and islands such as in the Bocas del Toro Archipelago in the Caribbean or Taboga and the Pearl Archipelago in the Pacific offer exotic tropical retreats. Those looking for a home in the tropics will be well served to look in Panama. Those investing in the recovery of Panama's housing market may well be very happy that they did.