For a long time, Panama’s real estate market focus has been largely concentrated on the capital, Panama City. Years of positive economic growth, access to the Panama Canal, banking, and travel logistics have made Panama City a hot spot for international investment and real estate. In fact, the real estate boom in Panama City has been so big, that many people, both in Panama and internationally, have overlooked one of the biggest sectors of real estate growth in the entire country: the interior provinces.
What, and where is Panama’s “interior”?
When people in Panama refer the “interior”, they’re talking about the provinces, cities, and towns that are outside of the capital, and capital province (Panama). With such a wide definition, it’s hard to say that all of the interior of the country is thriving from real estate. However, some of the biggest growth sectors, and new real estate projects are based in towns and cities in this area, which is redefining the market for investment.
Panama’s interior includes some of the country’s most exclusive beach areas, agricultural mountain towns, and affordable suburbs. All of these areas are turning out to be big draws for new properties (commercial and residential), and lots of expat retirees and younger investors.
The hottest interior real estate markets in Panama
When you look at investment trends in Panama’s interior real estate market, there are four areas that stick out the most. These areas are Boquete/Volcan, the Playas Region (Panama’s central Pacific beach coast), El Valle, and Panama’s hottest natural oceanfront area, Pedasi. The great thing about these markets is that there’s lots of room to work with, as far as development space goes. Also, the price to develop is much lower than the city, even though sales and rental prices are adequately comparable.
How to invest in Panama’s interior real estate market
If you’re looking to invest in Panama, and its versatile real estate market, the interior of the country has a lot to offer. The first thing we’d recommend is to look closely at the community you plan to invest in. Look at the future potential based on location, access to commerce, and trends in who is buying and living there. We also recommend consulting with a qualified real estate agent, and a good attorney before even considering offers.
There are lots of new projects, renovations, and older (yet classic) properties available throughout Panama’s interior provinces, cities, and towns. You can often get a really good price, and a long-term return on your investment, if you simply look just a bit outside of the more developed areas of the city. Regardless of your budget, or whether you’re looking to invest, or relocate to Panama, you need to look at your options in Panama’s interior. Don’t let the wave pass you by. Often, a small town, or unknown suburb can turn into the next big development spot for real estate.
To learn more about how to live, invest, and buy real estate in Panama, contact us for a free consultation. We’d love to help you find your perfect fit here in Panama, at the terms you feel comfortable with, for a bright, and successful future here.