The Republic of Panama is the southernmost country in Central America. It is bordered by Costa Rica to the northwest and Colombia to the south.
The Panama real estate market stands out as a popular vacation spot and retirement destination. According to Panama’s census data, the number of American senior citizens living in Panama doubled between 1990 and 2000. This is what fuels the demand for lodging and housing. As a result, foreign investment in the country has increased significantly in recent years and is expected to continue for many years to come.
Additionally, there is great variety to the real estate locations in Panama. There are beachfront, rain forest and mountain region properties available, making Panama a diverse real estate market. Of course, there are also metropolitan areas, such as Panama City, which are available to those who prefer city dwelling or are purchasing property in the country as a base to conduct business. There is some speculation, however, that the condo market in Panama City may be overbuilt.
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Unlike other countries in the region, Panama’s economy and political climate remain stable. As such, it avoids the concerns about recession and inflation which are prevalent in many neighboring countries. Panama is centrally located and easily accessible. It is an attractive place for foreign investment, which should aid in keeping the real estate market healthy.
Panama City, Panama