What are the Benefits of Buying Real Estate in Panama City in 2023?

Buying real estate in Panama City in 2023 is not just about getting a property; but it’s also about seizing those opportunities in a dynamic and evolving market, or if you live here, it’s about finally choosing to invest in a proper home for the years to come.

We have talked previously about the overall benefits of investing in Panama, where we have mentioned the tax benefits, the country economic and polibical stability as well as its growth, and even we have mentioned the permanent residence potential that you can find through a real estate investment.

But in the current year and the years to come, what are those advantages that can be noticed by choosing a property in Panama City as your next purchase?

After keeping up with the current real estate market trends in Panama, as well as those new projects coming in the near future within the capital, we show some of these advantages below:

Current Properties Appreciation

Coming out of the year 2021 and during 2022, Panama’s residential properties have experienced an steady growth in price appreciation due to and upwards trend in demand.

This behavior can be also noticed in 2023, caused by the usual growth in foreign investment in the country, as well as other factors, such as increasing immigration, tax and visa benefits, and since the pandemic, the delay in development of new projects which is also slowing the offers of real estate in the market.

Tourism

Panama’s airport has become an international hub for flight connections serving all Latin America and Europe, this exposure has led to a constant growing of tourists visiting the City and famous beach destinations.

With a new cruise terminal landed right in the city, and the development of highways that connects directly to the Cinta Costera, Panama City will have now more exposure than ever, specially from Tourists discovering new places, experiences and destinations.

Increased flights will also put Panama on the map for new groups of travelers from all around the world.

Affordability

Panama City is a very dynamic capital with a lot of interesting neighbourhoods. When comparing to other major international cities, the real estate market remains relatively affordable. In reality, Panama City is like any other modern citie, with a very solid infrastructure, shopping malls, and diverse dining experiences.

In 2023 and years to come, real estate affordability in Panama City will, for sure, be complemented with the potential for excellent value appreciation.

While there are established neighborhoods like Punta Pacifica or Bella Vista with great options of real estate, it is worth noting that there are other neighborhoods emerging with real estate alternatives. Areas like Costa del Este, Santa Maria and San Francisco, are still experiencing some sort of  development and can also offer competitive pricing, when compared to other countries.

As we mentioned, buying real estate in Panama City in the present year provides several benefits, including economic stability, favorable tax laws, and diverse options. But also the appreciation potential, growing tourism and affordable infrastructure makes the capital still a great option for local and international investors.