News

The first phase of the Panama City Metro is already paying big dividends for the property market. Not only is it improving the transportation system, it is sending a clear signal to the world that Panama City is a growing, modern city.

The launch of the Metro, the first in Central America, attracted international publicity when it first opened this spring, and the coverage continues. And all the attention and the discussion exposes Panama City to new investors, businesses and property buyers.

The latest installment of Metro publicity comes from Mark Chestnut, the editor of LatinFlyer.com, who recently created a great video on the Metro, showing off how it works and comparing the reality to the hype. In an article on Huffington Post, he highlighted a long list of elements that most impressed him about the Metro including the air conditioning in the stations.

Mr. Chestnut also noted the trains are clean and modern and the system well-designed. But perhaps his biggest observation is this:

“The Metro is actually useful for travelers,” he wrote, “whether on vacation in Panama or on a business trip, since it’s possible to take the train from hotels in the neighborhood called El Cangrejo (big hotels like the Veneto Wyndham Grand and the Hotel El Panama Convention Center & Casino, for example) to the giant Albrook Mall as well as the main bus terminal, which sits adjacent to the mal.”

As a property market, you can’t buy this type of exposure. It shows the city at its best, breaking new ground, delivering on its promises and improving the experience for residents, businesses and tourists.

The government is already moving forward with work on the second phase, which is good news.

Here’s the LatinFlyer.com video:

Duncan McGowan is president of Punta Pacifica Realty, a Panama real estate agency focused on Punta Pacifica, the exclusive neighborhood of 18 towers perched on the edge of the Pacific Ocean.