I too like Panama better than Costa Rica. Panama City is right on the water and definitely better than San Jose de Costa Rica that’s stuck in the middle of the country. Most American bypass San Jose for the beaches.
The density of development makes Panama more fun that Costa Rica. And the Canal makes the country a wordly destination.
South of France would be a great place to retire but it’s not cheap. Had you bought in the 1990s you would have made 50% gains on currency appreciation alone, not counting the RE bubble. It used to be 80+ cents to a Euro, now it’s $1.30 per Euro! Europeans who get their pensions in Euros and live in America are extremely happy.