What makes Panama attractive to invest in 2023?

Having already passed the pandemic period in 2020, the real estate market in Panama continues to be one of the most stable in the region, this is thanks to the strength and solidity of the Panamanian economy for more than a couple of decades.

It is not only stability, but also the variety of options that exist when looking for property options, whether residential or commercial, in the city or in beach areas, or even in different price ranges.

But what makes Panama so attractive as a global real estate market?

Next, we present 4 important points that we consider are the outstanding reasons why Panama is an excellent real estate market, especially in 2023 and future years:

1. Security and stability

Panama is a relatively safe country when compared to the other countries in the region. In 2023, it will continue to be a tourist destination for many expatriates. The government and the authorities clearly understand the importance of security to keep the tourist flow in the country. Obviously, as in all countries, there are places that one should avoid when visiting Panama, however, in general it is a safe country to enjoy.

Another important pillar is its economic and political stability, being one of the most stable republics in Latin America. Investing in real estate as a foreigner will enjoy the same rights as a local person with regard to the protection of private property. Real estate in Panama includes duly notarized title deeds that are registered in the Public Registry.

2. Connectivity and proximity

Today more than anything, with the new Tocumen airport terminal already operating, Panama is a transportation and air connectivity hub with the capacity to reach direct destinations throughout the American region and also to Europe. Copa Airlines, Panama’s flagship airline, offers flights to more than 80 cities and 30 countries in the region. In addition, there are multiple renowned airlines that also operate at the airport with direct flights to Europe, the United States and Canada.

Panama’s dollar-based economy and geographic location add great value to its strategy of being the Hub of the Americas, since its proximity to all the countries of the continent make it a convenient country for transit and travel.

3. Quality of life and infrastructure

Although Panama is a dollarized economy, the cost of enjoying a quality of life in 2023 will still be more efficient when compared to other countries, including the United States and Canada. Medical bills, utilities, and administration fees are some of the expenses that are relatively low.

Panama offers a good infrastructure, since it has reliable services, for the most part, electricity, internet and water. It also has shopping centers, schools and health centers with excellent capabilities.

4. Economic growth

Moody’s risk rating agency estimates that Panama will close the year 2022 with an economic growth of 7%, and it is forecast that it will have a positive trend for 2023 with a projection of 4.5% growth.

Likewise, Panama is one of the countries with the fastest post-pandemic economic recovery in the region, being very effective with respect to vaccination and restoration plans of the private sector.

These projections, in addition to the socio-economic stability and property variety, makes Panama an excellent country to invest in 2023, particularly in the real estate sector.