Where to and Not to Invest in Property in Panama

Well, the world and his wife have discovered the property potential in Panama and they are believing the reports that mortgages are easy to come by, they are making the classic mistakes of believing everything that the very first real estate agent they meet says and they are buying condos in high-rises in Panama city because they’ve heard, been told and now believe that they can’t lose.

Marvellous.  Meanwhile back on planet reality, if you’re an investor keenly aware that there is potential in Panamanian real estate but you’re just not sure where, here are the Amberlamb ideas about where to and where not to invest in property in Panama – bearing in mind that we may be wrong of course!!

First things first, you can forget about Panama City!  It’s being vandalised by developers and planners who are demolishing any historic architecture they find, apart from that in the UNESCO protected part of Casco Viejo, in favour of lovely shiny new high rise condominium and office towers.  Nice.

What’s more, those who have been bitten by the Panama condo bug are largely waiting to see the completion of their units as constructors fall further and further behind on promised delivery dates.  ‘What do you mean I don’t have a penalty clause for your late delivery in my contract Mr. Constructor?’ Indeed, so many buyers are now so jaded with waiting for their apartment and finding out that they are not entitled to any form of compensation that there is an undercurrent of dissatisfaction rumbling.

So, not Panama City then…so where? 

Well, how about Penonome?  It’s highly accessible – you just hop off the fabulous Pan-American Highway to reach it and it’s less than a two-hour drive from Panama City. 

It’s already emerging as a tourism hotspot for city dwellers seeking the laid back vibe that Penonome really embodies, and it has some attractive historic architecture as well as attractive real estate prices.  You can expect these prices to creep up as greater numbers of people explore the appeal of the location with its fantastic weather and its stunning natural beauty of course, but if you make a move fast you’ll bag some lovely real estate which you can let to the growing tourism market perhaps?

Next up is Boca Chica – described in the excellent Panama Report by Matt Landau as “the island-studded coast not far from Chiriqui’s all-too-trendy Boquete” and further explained as “the perfect example of “the way it looked back then”: back to a time when real estate tycoons and all inclusive resorts were just a twinkle in the eye of large conglomerates and cheap tourists.” To be frank, we couldn’t agree more.  We’re surprised and yet pleased it hasn’t been more discovered – but there are no two ways about it, with the arrival of an international airport in nearby David and the way things just are in Panama at the moment, it won’t be long before investors and developers are crawling all over this landscape.  If you’re an investor you could simply get in first…

And if you really want to take a gamble – how about the west coast of the Azuero Peninsula? 

Yes, we do mean the west coast – we know the east coast is all flashy new development and uber trendy already – but to our mind the beauty and the nature of the west coast means that towns and communities from Mariato to Montijo have far more appeal and may well become the in places to buy in time.  Of course, we’re no experts, we could be wrong!

Special Reports: Property News for Panama

Panama for Real Estate Investors
Investment into real estate in Panama is booming because Panama is growing in popularity as a tourist and retirement hotspot.

Panama Real Estate Investment Potential
The range of opportunity for real estate investors in Panama is broad with potential in the residential and commercial sectors

Panama Real Estate Purchase Process
Purchasing titled real estate in Panama is simple but an investor will require the assistance of a reputable property lawyer