Panama Real Estate for Sale Report: Invest Now!
When people start exploring Panama real estate for sale, the big question is, when do I buy? Timing is everything for your property investment — it must fit your financial goals and your personal lifestyle.
Analyzing the recent trends, this is clear: now is the best time to buy Panama property in recent memory. Several elements are converging to boost the market. At the same time, there is an unprecedented variety of jaw-dropping properties on the market. Whether you’re looking for a Panama condo, beachfront property, or a quiet golf course estate, now may be the moment to take the plunge.
Here are a few of the reasons now is a great time to buy Panama City, Panama real estate.
Better Prices than the United States
Home prices are soaring in North America. Even with interest rates rising, prices in many of the top U.S. markets remain ridiculously high.
Compared to the rest of the world, Panama real estate for sale prices are a bargain, especially considering the quality of the projects and the location. We’ve seen this phenomenon many times. We call it The Miami Effect. When prices go up in Miami, interest in Panama real estate soars. That’s exactly what we’re seeing now.
A Safe Haven
The resiliency of the Panama property market is now legendary. Through global real estate crashes, economic rollercoasters, and international conflicts, Panama real estate remains a solid investment.
In the wake of the COVID pandemic, the real estate market bounced back strong and steady, making it clear that demand was not going to be interrupted, even by a global crisis, The market bottomed and Panam’s foundation remained solid.
Now COVID is under control, but economic markets are in turmoil, making Panama an attractive safe haven alternative. We’ve seen this happen many times: the global economy slumps and Panama real estate sales grow.
Game-changing Panama City Projects
The current inventory of Panama real estate for sale is one of the most intriguing in recent years. Several luxurious condo projects are in development and completing, creating an unprecedented menu of quality projects.
The list includes members of the Ocean Reef Signature Resort Collection, an amazing compilation of projects on the man-made islands off Panama City. The Palms Beach Resort is the current hot seller, a waterfront property with its own private beach. We’re also seeing a few select resale units in other Ocean Reef projects.
In downtown Panama City the Wanders and Yoo is delivering its first tower, bringing new levels of style and resort-style living to the center of the capital. In the Santa Maria Golf and County Club, Oceana combines luxury amenities and a golf course lifestyle with some of the best price points in the city. Meanwhile, established towers like The Ocean Club remain in demand, with the available inventory of quality units shrinking.
Strong Rental Demand
If you’re thinking of investing in Panama real estate, the good news: the rental market is thriving. Occupancy rates are at an all-time high in many of our buildings, with demand high. That’s also translating to higher rental rates, with tenants willing to pay up for apartments in key locations and top amenities.
Punta Pacifica Realty operates the largest property management service in Panama City and we’re seeing a healthy, diversified market. We have strong relationships with many of the top multinational companies in Panama and we’re seeing a steady flow of new renters. Panama City is also benefitting from the digital nomad phenomenon.
Our property management service makes it easy to handle every level of the business, from outfitting your investment to maintaining it and keeping it safe and occupied.
Future Supply Shortage
This is a twist to the Panama real estate market that people aren’t talking about. The pandemic and the following economic turmoil put Panama’s development on pause. For years, there were almost no new project starts.
Fortunately, there were several projects in construction that have restarted, which will keep the market supplied in the short term. But real estate development is a long-term game. You can’t just flip a switch and deliver a new product. Projects started today will take years to complete.
Our long-term analysis forecasts a steep drop in inventory in the years ahead after the current properties for sale are absorbed. It’s almost inevitable. When that happens, prices will rise and competition will increase for top units. This is the time to beat the cycle.
Friendly Visa Policies
Even before the pandemic, Panama was known as one of the most welcoming countries for real estate investors in the world. These days, Panama’s visa policy offers a wide variety of options to live and work in Panama. Panama’s Red Carpet Visa — essentially Panama’s “Golden Visa” — provides a simple path to residency for real estate investors. The required investment could be as low as $300,000. (Check with us for the current threshold.) And Panama offers an easy process — you can start the process from your home country.
Panama also offers a friendly digital nomad visa, making it easier for international workers to set up remote operations in the country. And, of course, there’s Panama’s famous retirement visa, which offers a wide array of healthcare benefits and discounts. It’s never been easier to make Panama your home.
Is Now the Time?
The most important aspect of deciding whether or not it is the right time to buy is your choice of property. Finding your dream home in Panama won’t be easy. You can’t just plug “Panama real estate for sale” into a search engine and find all the properties on the market. There is no multiple listing service in Panama or a single database with all the properties for sale. An inexperienced agent may know a few properties, but they won’t know all the properties available. Many properties are never formally advertised.
In Panama, it’s essential to work with an experienced real estate agent with access and relationships across the market. Punta Pacifica Realty’s team has been doing business in Panama City for decades. We have exclusive relationships with buildings and developers throughout Panama. You need a representative like PPR in Panama to ensure you’re seeing the best properties that are on the market.
Not all Panama real estate will fit your priorities and budget. Panama condos, beachfront properties, and single-family homes each offer unique attributes and opportunities for Panama buyers. There are many nuances to the process. We can assist you with all the legal, financial, and visa issues.
If you think now is the right time for you, give us a call or contact us at firstname.lastname@example.org
We’re standing by to help you with your Panama City real estate experience.