You are here :: Panama Real Estate » Panama-locations » Panama-city-property

A coastal city that does not get boarded up every year for hurricanes? A Latin American City that has never had to rebuild after an earthquake? How about the capital of a Latin American country with a forward looking, democratic government, increasing economic prosperity and the highest per capita United States investment in all of Latin America. That would be Ciudad Panamá (pronounced SEE oo dad Pa na MA) or Panama City, the capital of Panama. We should add that with the longstanding US presence because of the Panama Canal there are many English speakers on the streets of Ciudad Panamá. And, since the Balboa, the local currency, and the dollar trade 1:1 US paper currency is Panamanian paper currency. Americans do not need to change their money at the airport when they arrive. You can pay for Panama City property in dollars.

These are boom times in Panama. Panama City property has become increasing attractive for the last ten years as increasing numbers of Americans have come to Panama to retire, attracted by the tropical climate, inexpensive property, and attractive residency requirements. In the same ten years Panama has had control of the Panama Canal for the first time. Foreign investment is high and Panama is pouring money into improvements of its infrastructure. For example, the Panama Canal Authority has started a ten year ten Billion dollar project to build a second, wider set of locks for the Panama Canal. Panama City real estate projects include many high rises on the Pacific and throughout the city.

So, Panama is prosperous and it is safe from natural disasters. And the climate is great and English is widely spoken. But why would you want to buy Panama City property? Because, despite the run up in prices the last few years Panama City property still sells for less than the US, Europe or the Caribbean for comparable real estate. And Panama gives you a twenty year break with no property taxes on new home construction. And, did I mention that it is beautiful here? Buy your Panama City property in one of the high rises on the Bay of Panama. Drink Panamanian coffee while you watch container ships enter and exit the Panama Canal up the Pacific Coast. Buy Panama City property in one of the old and gracious neighborhoods like San Francisco and escape the midday sun by lying in your hammock strung between two mature palm trees.

The Value of Panama City Property

Panama City real estate prices vary by location and type of property. On old Via España you can buy a two bedroom apartment in a new building for $60,000. Panama City property on Avenida Balboa and other spots on the Pacific Ocean a thirtieth floor three or four bedroom condo can be a low as $300,000 or as high as $1,000,000 depending upon square footage and amenities.

Other examples of Panama City property are homes in el Dorado or San Francisco that can sell for $150,000 and grand old homes on walled properties with four or five bedrooms and maid's quarters for $800,000.

Panama City Commercial real estate is also available at prices that beat the US and Europe although with the boom times you may want to look more on the outskirts of the city for better values. Ask a reputable realtor such as ABPanama to help you find the best value in Panama City commercial property.

Why the City

There is attractive real estate throughout Panama as well as Panama City. The country has great natural beauty. For those who prefer an urban lifestyle, especially in this nearly five hundred year old city, Panama City property is the way to go. The restaurants are great as is the entertainment. If you do not want to drive there are lots of taxis. There is Panama City property to fit any pocketbook and any taste. Come; try the city, Panama City, for property in paradise.