Real estate property hotspots

Panama City

Panama City

Panama City

Panama City, the capital of Panama, is vibrant, colourful and diverse.  Touted as the "Gateway to the Americas", the city is a world class financial centre and business hub.  Famous for its towering skyline and tangle of cranes it's sometimes easy to forget that the skyscrapers rub shoulders with ruins of old Spanish settlements and impressive colonial buildings.

On the eastern side of the city close to the international airport are the ruins of Panama Viejo, site of the first European settlement on the Pacific (dated 1519) and recognised as a UNESCO World Heritage Site.  Casco Viejo (also known as Casco Antiguo) is the old colonial area with old churches, plazas and cobblestone streets.  More of the historic colonial buildings are being bought and restored but parts of Casco Viejo still remain run-down.  The major side trip from Panama City is, of course, to the Panama Canal, recognised as one of the worlds great engineering achievements.  The most convenient way to see the canal is to go to the Miraflores Visitors Center that overlooks a set of locks about 8 kms. from downtown. 

The real estate market in Panama City is buzzing with more and more condo towers thickening the skyline.  There have been hints of oversupply, but the show keeps rolling.   With it's US style infrastructure and excellent health care Panama City is likely to remain popular among expatriate retirees looking to invest in international real estate.


Getting to Panama City


Panama City's Tocumen International Airport receives direct flights from key US hubs including Miami, Houston, Los Angeles, New York, Dallas and Washington DC.  There are also daily flights to major Central and Latin American cities.  It takes 20-35 minutes to drive from the airport to downtown Panama City.


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Overview of the Area




Real estate market information


Data relates to the period July to September 2009


Recent reviews

Learn from other investors

1.02.2010,

Jane Bakerson

John, thank you for the comment on Tucan Country Club. The project has been added.  Click here.

Reviewer has visited the hotspot: Yes

Reviewer has invested in the hotspot: No


11.11.2009,

John DArcy

I purchased a beautiful home at the Tucan Country Club resort right outside of Panama City. There is an 18 hole golf course and other amenities. It is ten minutes from down town Panama City. For some reason you have not mentioned it on your web site, and it deserves to be there. The developers are very professional. This is a first class development and it deserves recognition.

Reviewer has visited the hotspot: Yes

Reviewer has invested in the hotspot: Yes


3.06.2009,

The Great Panama Hoax

Too funny I love the fact that all the people leaving a review about a place also happen to be selling real estate in that same area. Hmm. Just a coincidence I am sure.

Reviewer has visited the hotspot: Yes

Reviewer has invested in the hotspot: Yes


28.05.2009,

John DArcy

I purchased a home at the Tucan Golf and Country Club immediately outside Panama City. The site is just west of the Bridge of the Americas and once the Cinta Costera is complete, will be 10 minutes from downtown. We have a great view of the canal and can watch boats passing . We also have a wonderful view of the city. The golf course is complete and is a full 18 holes.  I would recommend this spot to anyone.

Reviewer has visited the hotspot: Yes

Reviewer has invested in the hotspot: Yes


20.05.2009,

Rudy Anthony

Panama Real Estate still Hot! It seems that Panama Real Estate continues to experience a healthy demand, with many Canadians, Europeans, Venezuelans, and an ever growing amount of Americans wanting to live, play and work in Panama, Panama Real Estate is still a hot commodity. There is a true interest in many foreigners to move to Panama, with the ever present great weather, dollar economy, friendly people, first class banking, financing for panama real estate, property tax exoneration incentives, fabulous islands and beaches among many other attractions, panama continues to experience a healthy demand and fruitful and booming economy.


The current global economic crisis has introduced a bit of anxiety into the market here in Panama City but the healthy demand for Real Estate seems to be overshadowing sellers anxiety to sell off quickly. Though we have seen a gentle drop in prices of condo they are generally holding their value. Prices in the San Francisco area are anywhere between 180200ft, Punta Pacifica from 200250ft, Avenida Balboa from 200240ft for new condos! The 20 year tax exhoneration which is still in place continues to attract northerners fleeing from heavy US and North American taxation.


Select Panama Real Estate a boutique real estate agency provides professional services to Panama Real Estate investors in Panama. Select Panama Real estate has assisted many foreign developers in locating ideal properties in Panama for developments of Condo Hotel Projects and mixed used residential projects in idyllic areas of Panamas gold coast. Also assisting developers in setting up business ventures through a network of contacts, Select Panama Real Estate focuses on providing a personal service to its clients. Visit www.selectpanamarealestate.com

Reviewer has visited the hotspot: Yes

Reviewer has invested in the hotspot: Yes


29.12.2008,

Marvin Corea

I lived in Panama from 1994 to 1996 and just returned to Panama in 2008. In summary, I thoroughly enjoy Panama. There is a lot of development going on, especially condo development, which until recently was selling at a tremendous pace.


Naturally, things have slowed because of the current 2008 global economic crisis, but there is not nearly as much trouble as there is in the US because lenders here normally require at least 2030 down payment.  A still pretty good area is the hospitality industry. There continues to be a lack of sufficient hotel rooms in Panama City and in the countryside.


People are still coming to Panama City for vacations and business. Much Success on your endeavors and if I can be of assistance, please let me know. Happy New Year! Marvin www.PanamaHotelInvestment.com

Reviewer has visited the hotspot: Yes

Reviewer has invested in the hotspot: Yes


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