From tropical escapes to spectacular biodiversity and marine life, Panama has great appeal to buyers interested in luxury real estate.
Stephanie Villarreal, President and Realtor of Your Panama Real Estate Connection, says that one of the most unique aspects of the country is in their very name — connection. “Panama is very connected … amongst others, Panama City’s Tocumen International Airport is known as the ‘Hub of the Americas,’ making Panama very easy to get to,” she says. The connection also extends into a selling point, especially for American buyers, as Panama uses the U.S. dollar as its currency, unlike other Central and South American countries.
Panama’s accessibility via air and sea helps to deepen its connections internationally. Because of this, according to Villarreal, the country’s diversity is far reaching, as many Americans, Canadians, Europeans and others have chosen Panama as their preferred retirement destination, or have purchased real estate and live either part-time or full-time in the country. A recent real estate trend in Panama also includes more international buyers, particularly from mainland China. “There are many well-known multinational corporations with regional headquarters in Panama City as well as embassies of many countries,” Villarreal notes.
Luckily for interested buyers, there is plenty of inventory in a range of property options. Villarreal and her brokerage work with listings in many regional areas with different unique characteristics, from highland properties and waterfront listings to island living options. Elegant Panama City apartments in luxury residential buildings are especially appealing, created by reputable architects and builders into “property masterpieces.”
These masterpieces continue to grow in number and variety. For example, the exclusive Santa Maria development in Panama City is being further developed — it boasts an 18-hole Nicklaus-design golf course, and the city’s historic district, Casco Viejo, is a UNESCO World Heritage Site. Villarreal also mentions that there are several unique private island options with modern conveniences, including state-of-the-art marinas.