News

In 2024, the Panama real estate market continued to establish itself as the region’s fastest-growing, most lucrative property market. It was a year of big new development announcements, robust activity, and continued price growth across market sectors.

The past year illustrated that Panama real estate is entering a new phase as it develops into a mature market. There are fewer big shifts in the industry and more steady growth, as investors and developers embrace Panama as a stable market with a consistent upside. Panama’s foundation of solid economic expansion continues to power the market, allowing the country to grow its GDP, even while many big economies struggle.

In 2024, here are a few of the big stories that shaped the market.

Margaritaville Enters Panama

One of the best-known lifestyle brands in the world planted its flag in Panama with the announcement of the Margaritaville Beach Resort & Residences Playa Caracol. Bringing the company’s signature brand of fun and escapism to Panama is a major validation of the market and a sign of things to come.

Costa del Este Grows

The waterfront suburb of Panama City continues to grow and take on its own identity as it grows into a favorite destination for corporate executives looking to rent or buy. Many developments attracted attention, but none more so than Ipanema at Costa del Este, which is offering the neighborhood’s first sandy beach.

Rental Market Strengthens

The growth of the economy and the expansion of multinational operations in Panama is fueling the rental market. In 2024, inventories of top units continued to come down, which has promoted rate increases in many of the most popular buildings.

Playa Caracol Takes Center Stage

Only 70 minutes from downtown Panama City, this pristine stretch of beach is the buzz of the market. Margaritaville was the headliner in 2024, but Playa Caracol is ready to take the mantle as Panama’s premier beach destination.

Back to Nature

Panama’s tourist industry launched a campaign to promote Panama’s beauty and natural resources, the country’s untapped gold mine. Developers are taking the cue, creating sustainable experiences that bring people closer to nature. A good example is Vervana, the new eco-resort near Playa Venao that offers a place to find balance and rejuvenation.

New Era for Downtown

Downtown Panama City is getting a big boost from the new CAF bank headquarters under development in Obarrio. The development will anchor a walkable “superblock,” including MOVA by B&B Italia, a new mixed-use development introducing an Italian twist to luxury urban living.

Ocean Reef Becomes a Home

More developments continue to be completed on Ocean Reef Islands, now established as Panama City’s most exclusive community and a great place to live. New projects are rare these days, but PPR has learned that a new project will launch any day now.

Safe Haven Buyers

Political turmoil in the U.S. and conflicts around the world once again have people turning to Panama as a great place to invest. The stable economy and tropical lifestyle are attracting people from around the world to Panama, a trend that is sure to continue in 2025.

Crypto Takes the Stage

As we close the year, the breaking news is that cryptocurrency is now accepted for purchase in Playa Caracol, the latest sign that crypto is becoming a real player in Panama real estate. It’s still in the early stages, but in 2024 PPR moved to set up the infrastructure to facilitate crypto transactions allowing bitcoin owners to turn the recent price surge into a tangible beachfront asset.

It’s been a wild, eventful year. Thank you to all our clients and partners who made it possible, and we look forward to working together in 2025.