Real Estate in Panama City; Growth, Opportunity, or Just a Beautiful Place to Live

Coming to Panama? If you are a second home buyer or retiree looking for property in a warm location, Panama City, Panama is a great place to look. If you are one of the above or an investor looking for business opportunities, real estate in Panama City is a great place to look. Panama City is a beautiful and exciting place to live. Panama City is growing and real estate in Panama City is appreciating year by year. If your goal is investment in Panama City or purchase of property for personal use your property investment in Panama will serve you well for years to come.

Real Estate in Panama City; Background

Panama City, Panama is on the Pacific end of the Panama Canal. The United States built and then ran the canal from 1914 to 1997. During these years the world's perception of Panama was that of a United States colony. The Panama Canal Zone was off limits to Panamanians unless one was a worker there. The United States practiced jungle warfare exercises in the Canal Zone. In 1997 the United States turned over control and management of the canal to the Panama Canal Authority.

When United States canal management stopped, foreign investment in Panama began. Real estate in Panama City and throughout the country has benefited greatly from United States private investment. Panama receives more per capita investment from United States private sources than any other Latin American country. This fact shows in that airports, roads, harbor facilities, and telecommunications are far and away better throughout Panama than in any other Latin American country. More to the point international investment in real estate in Panama and business in Panama has flooded in.

Projects underway or in the works include a large pipeline for crude oil across the isthmus, auto assembly plants, a port to rival Houston on the Caribbean coast and an oil refinery on the Pacific coast.

Much if not most of the investment and activity in real estate in Panama is in Panama City. When real estate for housing in Panama City is in short supply they build up and out. Real estate in Panama City includes an increasing number of high rises. (Condos on the Bay of Panama with a view of the Pacific go for $300,000 to $1,000,000.) To the north of Panama City real estate in the old Canal Zone is being developed for housing as well as light industrial use.

Panamanians are moving out of Panama City proper for real estate in the suburbs and bringing their work places with them. This area is where real estate in Panama City is going to be used for auto assembly plants and similar activities taking advantage of the shipping possibilities on the Panama Canal. Housing in these areas is inexpensive, including in old Canal Zone housing in areas such as Clayton where remodeled duplexes start at less than $150,000. Real estate in Panama City is still affordable in the upscale neighborhoods such as el Dorado, Paitilla, and San Francisco. For those used to United States urban prices real estate in Panama City is a steal. Ask a reputable realtor such as ABPanama to help you find the best fit of home and investment in Panama City real estate.

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