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Just a few years ago, villa, penthouse, apartment or condominiums in Panama have cost a lot of money. Today, however, the real estate in Panama dropped in price and local realtors have much more affordable deals. For the price of $100,000 today you can buy real estate in Panama of 80 square meters. Cost of penthouses and villas in Panama were also dropped, so today everyone has the opportunity to take advantage of enticing offers and buy property in the country that represents a pure democracy.

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Panama Property Hotspots: Panama City Real Estate

Panama City currently has an undervalued real estate market; however as has happened in countries like Costa Rica, Mexico and Ireland, prices have been
rising as more people discover the advantages Panama has to offer. As a potential real estate investor, there are several areas to consider where you will find maximum growth opportunities.
Panama City with almost one million inhabitants is a "first world" urban center in the throes of a major building boom. The skyline of Panama City, with its projected 250 high-rise office and condominium towers, is starting to resemble downtown Manhattan or Singapore. High class restaurants, first class hotels and fast food outlets, are here for all tastes and pockets. Entertainment is varied, the latest movies, concerts featuring foreign and local performers of all genres, every kind of sporting event – baseball is arguably the most popular sport and a number of Panamanian players are found in US major league clubs. Mention Mariano Rivera and the New York Yankees and you will make friends immediately! Shopping options range from local markets to multi million dollar super malls and luxury goods. The Amador Causeway has a number of great restaurants, yacht clubs and a duty free shop, it is also a great place to bicycle, jog or walk with sea breezes and a great view of the stunning Bridge of the Americas. Panama City even has a rain forest within its city limits.
There are many residential districts in and around Panama City. Beautiful condos with fantastic ocean views are available in price ranges to suit all pockets.
Many have the use of a pool, spa, gym and children's play areas. The most beautiful condominium towers like “Megapolis” and “Yacht Club” will be built in the Balboa avenue right on the ocean. Beneath the Balboa avenue, you find a high class condominium area called Marbella overlooking Panama bay, near movies, restaurants and shopping. Bordering Marbella is a residential and commercial district called Obarrio with trendy restaurants, clothing shops and high end boutiques. This is a favored embassy area. Adjacent to Marbella is a luxury residential district called Punta Paitilla. This is an extremely dense area of high rise condos even by NYC or Singapore standards. Punta Pacifica, next door to Paitilla, is a brand new area where ultra luxury condominiums are sprouting from the ground with average units in the 1000 to 4000 square foot range. This is where ultra modern buildings such as the Dupont Towers and OceanAire will be constructed. You might be unimpressed by this fact, but remember that the size, quality and conveniences of these properties will often equate to a property worth about 4 to 15 times this amount in the USA.
In most areas in Panama City, you can still find apartments around than $200,000.00 like the Greenbay, but be sure to check out the location before you buy, as in all big cities some areas have advantages or disadvantages that are not immediately apparent to a newcomer. Check our Panama real estate for current listings or please contact our Panama City office for real estate advice and we will be happy to help you find the right property for your new life. The district of "San Francisco" is more "middle-class" and offers excellent housing value. This district is perhaps 2-3 miles from the city center and is considerably more quiet. A newer three bedroom condo with say 1500 square feet, with a modest ocean view, could be purchased here in the US$150,000 to $250,000 range
such as PH Terramar Tower, with excellent location and close to malls, hospitals, convention centers , hotels, restaurants and others. As you might imagine, there are many other quality residential
districts around and  about Panama City.  One US style development called Costa del Este has  hundreds of homes and oceanview condos in the $300,000 to $950,000 range like Breeze Tower and Panama Bay Tower. It is located just outside the city, en route to the Tocumen International Airport.There are also many exclusive residential districts in the old Panama Canal Zone that reverted to Panama in year 2000. Many excellent gated developments with homes and lots are available in Clayton, Ancon, Albrook, and Cardenas many with 2000 square meters of land.
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