Panama City is the capital of the Republic of Panama and its largest and most modern city.
Panama City is located on the Pacific coast at the entrance to the Panama Canal.
Panama City is the political and administrative center of the country, as well as a center for international banking and commerce, with the most modern and successful International Banking Center in Latin America, offering investors more than 80 banks from more than 32 countries around the world. The city also has sophisticated technical and fiber optic infrastructure, high-end retail shops, casinos, restaurants and luxury hotels (including InterContinental, Hilton, Waldorf Astoria, JW Marriott and Hardrock Hotel, among others).
The real estate boom in Panama City began in 2003, when the real estate market was made up of buyers mainly from the United States, Canada, Venezuela and Spain. The majority were buying apartments under construction in areas such as Punta Pacifica, Avenida Balboa and Costa del Este. These projects were promoted mainly in real estate fairs, media and internet campaigns; The prices were very competitive.
Today the real estate market remains undervalued, however, as has happened in countries such as Costa Rica, Mexico and Ireland, prices have been rising as more people discover the advantages that Panama has to offer. As a potential real estate investor, there are several areas to consider where you will find the maximum opportunities for growth.
With a population of more than 1,5 million, Panama City is a “first world” urban center with a significant construction boom. Panama City's skyline, with its 250 planned office skyscrapers and condo towers, is starting to look like downtown Manhattan or Singapore, with its impressive skylines that can be seen much more at night.
High-end restaurants, first-class hotels, excellent shopping and top-notch restaurants are here to suit all tastes and budgets. The entertainment is varied: the latest movies, cultural festivals, concerts with local and foreign artists of all genres, as well as almost all types of sporting events: football, basketball, boxing and baseball, which is possibly the most popular sport. Shopping options range from local markets to multi-million dollar super malls and luxury goods. In some of the most prestigious shopping centers in Panama you can also find new hotels for shoppers who prefer to stay in city hotels and continue shopping at the same time.
A wave of captivating developments has breathed new life into Panama City's urban fabric. Luxury towers, exquisite residential homes valued at more than $1 million dollars, world-class hotel projects, prestigious world-class shopping centers, convenient Metro access, well-connected highways and the impressive expansions of the world-famous Panama Canal have redefined the identity of the city in a vibrant cosmopolitan center and international center.
These monumental efforts have not only reshaped Panama City's landscape, but have also elevated its global standing, making it an attractive and lucrative investment opportunity for astute international investors. Not only has it become attractive to international investors, but it is also a desirable destination for foreigners looking for a new home or contemplating retirement.
Real estate developers, private investors and international real estate companies from the United States, South America and Europe have begun construction of iconic real estate projects in the city.
Real estate in Panama is easy to purchase and not expensive.
Panama City has become a modern and cosmopolitan metropolis: there are many high-rise buildings overlooking the ocean and the Bay of Panama. Exclusive residential areas such as Marbella, Paitilla, Coco del Mar, Punta Pacifica and San Francisco offer a good range of apartments and condominiums for sale. Suburban residential areas in the former Canal Zone such as Amador Heights, Balboa, Albrook and Clayton offer large, attractive single-family homes and condominiums.
There are many residential districts in the city of Panama and its surroundings. Beautiful condos with fantastic ocean views are available in a price range to fit every budget. Many have pools, spas, gyms, playgrounds and more.
You can find incredible, high-end bayfront condo buildings in the Balboa Avenue known as Coastal Ribbon, very close to shopping centers and boutiques, malls, banks, restaurants, supermarkets, etc..., such as Costanera, Armonía, Nuovo Armani, Yacht Club Tower, Infinity. Tower and Prestige, Just to mention a few, they have luxurious apartments available ready to occupy. Additionally, during 2013, new apartment buildings celebrated their grand openings, such as the famous apartment building created by Philippe Starck, Yoo Panama, an iconic 60-story building with loft-style apartments and penthouses with incredible bayfront and city views. There is also an iconic office building Bicsa Financial Center, with a very modern architecture next to the Hilton Hotel already positioned as one of the most demanding office buildings in this area.
Limiting with Marbella There is a residential and commercial district called Obarrio with trendy restaurants, clothing stores and high-end boutiques. This is a favored area for embassies. You can find office spaces available for rent and sale, such as at PH Torre Twist, Torre SFC, SL 55 and Torre Empresarial Panamá. You can also find luxurious apartments for sale in projects such as Park City Tower, Urbana Tower and Nostrum.
Closer to Marbella there is a luxury residential district called Paitilla Point. This is an extremely dense area of high-rise condos, even by New York or Singapore standards. We can find luxurious projects, such as The Towers Punta Paitilla, Deluxe Residences and Ocean Front.
Pacific Point, next to Paitilla, is an area where opulent condominiums are emerging with average units in the 1000 to 4000 square foot range. This is where ultra-modern buildings are found, such as Dupont Towers, Ocean Two, Grand Tower, Q Tower, Oasis on the Bay and Oceanaire. In addition, you can find an iconic building shaped like a sailboat, the JW Marriott. This fact may not impress you, but remember that the size, quality and amenities of these properties are often equivalent to a property worth 4 to 15 times this amount in the US. We recommend checking locations before purchasing , since in all large cities some areas have advantages and disadvantages that are not immediately obvious to a newcomer.
Check out our real estate in Panama for current listings or contact our Panama City office for property advice and we will be happy to help you find the right property for your new life.
The district of San Francisco It is vibrant with different restaurants, bars, shops, boutiques and offers excellent value for money. This district is perhaps 4 or 5 kms away. From the center of the city. Here you can purchase a condominium at prices ranging between USD 180.000 and USD 450.000, as PH Aurora, Mondrian Tower, LOV and Riviera del Golf. We can also find modern and high-level projects, such as The Towers Residences, Living 73 and Loft 6750. This area has a richly green sports park called Parque Omar. Furthermore, strategically located is the Smart Business Center in the heart of San Francisco, with retail office space close to numerous existing commercial activities.
Nice view houses some wonderful projects like Wanders & Yoo, which is new, as well as Armani, Luxor 400, Velure and Van Gogh.
Another area that is becoming fashionable for its fantastic location facing the sea is Coconut of the Sea, which is closer to the Atlapa Convention Center and the South Corridor. It is also minutes from shopping centers, such as Multiplaza, international cuisine restaurants, supermarkets and some of the best schools in Panama City. Here we can find surprising projects, such as Coco Place, Victory Towers, Vita and Dovle Selva.
Closer to the shopping center Eldorado, we find Plaza Edison, a space at the top of a hill where we can find beautiful apartments with spectacular views and closer to a plaza where offices of public entities are located. Some of the projects being built in this area are: Pacific Park Towers, Vivendi Green and Elmare 500/600.
Panama Pacific – Just over the Bridge of the Americas, 20 minutes from the city, this major new 4,000-acre development has a variety of uses, including corporate headquarters, residential communities, offices, logistics facilities, a championship golf course, hotels , retail, top schools, healthcare and other amenities, not to mention plenty of tax incentives for businesses. Just look at these projects, here.
Costa del Este – A luxury real estate development in the Panama City. An American-style residential area called Costa del Este has hundreds of ocean-view homes and condos at prices ranging from $300.000 to $950.000. It is located on the outskirts of the city, on the way to the Tocumen International Airport and closer to the Corredor Sur highway. There you can find residential projects under construction, such as Eastern Arcadia, Regalia, Paramount and Walnut. This area also features iconic buildings and skyscrapers, such as Ten Tower, PH Top Towers, Costa del Este Country Club and Riverside, among others. There are also projects intended for businesses and offices, such as Times Square Center, Town Center Office Suites and the new branch of Pacifica Health Hospital with offices for rent or sale in the development HPP Doctor Offices. Costa del Este is characterized by its luxurious and modern buildings, a sophisticated high-end community with unique skyscrapers, the answer to a vibrant lifestyle for Panama. The perfect balance between technology and luxury residential design creates exceptional environments. Furthermore, in Costa del Este We find proximity to exclusive schools in Panama, supermarkets and various businesses. Specially designed for those who enjoy the pleasure of living in front of the sea.
Santa Maria Golf & Country Club- A private golf residential community located adjacent to the prestigious Costa del Este neighborhood of Panama City. The Nicklaus Design Golf Course will offer players a world-class golf experience. Potential real estate buyers will enjoy a variety of resort-style amenities, including a large country club with world-class sports facilities.
Santa Maria is the new high-end community development in Panama, where luxury living combines with the beauty of lush green golf courses, with lakes and parks surrounding your home. Residences like The Reserve, Oceana Residences & Skyhomes, Guayacan and Celeste Taking you to a new dimension of exclusive luxury lifestyle, these apartments have been created to generate an ideal environment for relaxation and personal growth.
Clayton- Located northwest of Balboa, Panama, with the Panama Canal located nearby. It used to be an American residential base for high-ranking military officers. It is currently used for residential housing, schools and the headquarters of the “Ciudad del Saber" (City of knowledge).
One of the best gated communities in Clayton is Embassy Club Community, the most complete residential complex in Panama City, created for nature lovers. It has a Spanish colonial style, in which the architecture is intertwined with a lush green landscape and consists of approximately 35% protected plant areas and species. When purchasing your residence or apartment you can enjoy amenities, such as a Residential Spa and Gym, Cafeteria, Dance Room, Owners Lounge, Games Room, Swimming Pools, Tennis Courts, Putting Green among others.
South coast – consists of 44 hectares divided into 6 gated communities with 2 urban concepts for conservative and modern tastes. It will house 705 families, as well as a shopping center to serve their needs upon completion of the master plan. Gated communities, such as El Doral, Costa Sur Village and Sunset Coast, are located in the exclusive area of Costa Sur, just minutes from a wide variety of commercial facilities, such as supermarkets, department stores and shopping centers, as well as everything available. for you in the nearby Costa del Este area.
Casco Viejo- Panamanian government incentives for the restoration of the Casco Viejo historic district have encouraged investment in this iconic area. This area that reminds New Orleans or SoHo For years, it's been filled with elegant historic buildings that have been given new life through years of renovation. There's room for even more improvement in the coming years. There are already world-class restaurants, workshops, apartments, and boutique hotels located in the elegant squares between the museums, the National Theater, and the Presidential Palace. Even the dungeons next to French Square house a restaurant and a jazz club. An investment here will allow you to live in history, and the buildings will only be appreciated for years to come.
Outside of Panama City, there are excellent properties available for developers and individuals. The more remote the location, the more reasonable the cost, but keep in mind that it may be far from utilities or roads.
Check out our real estate listings in Panama City for an overview of properties available in this area or click here to contact us.
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