Discover the Best Places to Buy Property in Panama
Are you considering buying property in Panama and wondering where to buy? Varying from idyllic beach-fringed islands to cosmopolitan cityscapes, Panama is a one of the most diverse countries in Central America. The country is home to areas offering the tropical tranquillity that visitors would find familiar from neighboring countries such as Costa Rica, as well as dynamic urban areas with towering glass and steel skyscrapers and a diverse cultural scene unlike anywhere else in the region. In 2018, overnight visitor arrivals surged by 14.6% to a record-breaking 489,261 visitors. This diversity has driven tremendous growth in tourism which has been accompanied by a dramatic rise in interest in real estate in Panama. The country has become a very attractive place to invest, with high demand for homes for sale in Panama and condos for sale in Panama.
Where to Buy Property in Panama?
If you are thinking about investing in real estate in this unique Central American country, be sure to carefully consider where to buy property in Panama. The country is large and varies significantly from the islands off its Caribbean coast to its vibrant capital. As you might expect in such a diverse country, each area differs considerably from the next. To help get you started, here’s our pick of some of the best places to buy property in Panama.
1. Bocas del Toro
Located in the northwestern corner of Panama, the Province of Bocas del Toro comprises a mainland area bordering Costa Rica to the north plus 9 islands surrounded by turquoise Caribbean Sea. Home to 2 protected national parks including Isla Bastimentos, pristine white sand beaches and crystal clear waters filled with spectacular coral reefs perfect for diving and snorkeling, Bocas del Toro is a friendly and laidback tropical paradise with a Caribbean feel to it. The archipelago is popular with both tourists and property buyers looking for a tropical escape to get away from it all. Property for sale in Bocas del Toro ranges from cabana-style houses on the waterfront to hideaway homes nestled in the jungle. A limited selection of newly built beachfront condos within well established resorts are also available – ideal as both a vacation home as well as an investment which could generate returns via the rental market. As an emerging real estate investment location, property prices remain very attractive, for the time being at least. As Bocas del Toro’s international profile rises and the area becomes more well known with buyers in search of the perfect destination for second homes and retirement homes, we would expect prices to rise significantly.
Situated on the southeastern tip of the Azuero Peninsula in the Province of Los Santos on Panama’s Pacific coast, the small town of Pedasi is emerging as a popular destination for property buyers. The town ticks boxes for many buyers. For many who choose to retire in Panama, Pedasi is considered a safe, secure and serene destination ideal for enjoying a quiet lifestyle in a laidback, welcoming community. The cost of living is comparatively affordable and property prices are significantly lower than many other beach towns in Panama. For surfing lovers, the area is one of the best surfing spots in the region. Its coast is also perfect for all kinds of activities from turtle and whale watching to fishing in waters rich in marine life. Pedasi is therefore home to a growing number of part time and full time expat residents. Here buyers will find some lovely homes close to the beach, as well as plenty of communities offering land for sale to build a custom home.
Discover: Property for sale in Pedasi, Panama
3. Panama City
Home to almost 900,000 people, Panama City is not only the capital of Panama and its largest city but also the country’s economic, social and cultural heart. Situated at the mouth of the Panama Canal, the city is at the crossroads of the Americas. It is here that the urban jungle meets the actual tropics, where the ancient meets the new. Along coastal areas clusters of shimmering high rise buildings overlook long beaches, while in Casco Viejo – the well-preserved historical district and a UNESCO World Heritage Site – Spanish colonial-era churches, theaters and palaces line elegant boulevards and plazas. As the capital of the fastest-growing economy in Central America which grew by 3.5% in 2019 and is projected to grow by 4.2% in 2020, Panama City is a magnet for high fliers working in banking, finance and service industries. As you would expect in a location of such stature, the city offers a wide selection of trendy dining, shopping and entertainment options. Property for sale is equally striking. Contemporary condos and opulent apartments in centrally located upscale neighbourhoods such as Punta Paitilla, Punta Pacifica, Marbella and Bella Vista are available to purchase with hotel-style amenities such as concierge services, roof top pools and chic bars and lounges. Real estate in Panama City offers the opportunity to own property in one of the most dynamic cities in Latin America with huge potential for both income-generation and capital appreciation.
Discover: Property for sale in Panama City, Panama
Finding Your Perfect Property in Panama
So, where exactly is the best place to buy property in Panama? Well, that depends on which part of the country you personally prefer, but, whether you’re looking for a condo to enjoy vacation surrounded by the beaches and jungle of Bocas del Toro or a home for your retirement in Pedasi, there is a wide variety of options to take a look at from across Panama.
To discover more, explore Panama real estate on our website and find your perfect property in Panama with 7th Heaven Properties.