Where Is The Best Place To Buy Real Estate In Panama?
The answer to this question will vary from person to person. Some people prefer life in the city, others want to be by the beach.
If you want to live in the city, Panama City is the only serious option.
Panama City is a fast-growing international city with all the amenities you could wish for. There are top quality restaurants, bars, shopping malls not to mention world-class healthcare facilities and schools.
Outside of the city, Panama has some great options for beach living.
Playa Caracol is one such option. Set on a stunning golden beach close to Panama City, it’s a wonderful place to live, or have a condo for a weekend getaway.
Let’s take a closer look at some of the best options below…
Panama City
Image Source: iStock – The Panama City real estate market has come on in leaps and bounds since the early 2000’s
Panama City is the nation’s capital and home to some of the best luxury real estate in Latin America. Panama City is a modern-day metropolis and “the hub of the Americas”.
Panama City is where you can find the best bars and restaurants, shopping, and entertainment. Many luxury brands have stores here, and luxury hotels and residential communities are being built all the time.
You’ll find some of the most desirable properties in all Latin America, right here in Panama City.
Ocean Reef
Ocean Reef is the most exclusive address in Panama
Ocean Reef is a master-planned community built atop two man-made islands. Set in the Bay of Panama, Ocean Reef is possibly the most luxurious address to be found anywhere in Latin America.
Ocean Reef is undoubtedly the most exclusive community in Panama. There are just 137 residential lots being developed. Opportunities here are at a premium.
As you might expect, the amenities to be found in Ocean Reef are outstanding.
There are swimming pools and restaurants and you’ll also find tennis courts and multi-purpose courts, paddle tennis courts, volleyball, and squash courts. There are plans for a Wellness Center to be built.
Owners will have access to dog groomers, personal trainers, gardeners, housekeeping, and car service.
The Marina has more than 180 slips and offers a slip rental program capable of mooring boats 40 feet to 200 feet.
Avenida Balboa
Image Source: iStock – Avenida Balboa offers spectacular views across the Bay of Panama
Avenida Balboa is very popular with expats and one of the most iconic places to live in Panama City. Apartments here offer spectacular views out across the bay. The location is central to everything, too.
It’s close to Casco Viejo, with its nightlife and bars, and close to some of the best hospitals and schools in Panama.
The bike path which runs along the front of Avenida Balboa is the perfect place to do some exercise. There are outdoor gyms, and soccer, basketball, and volleyball courts along the way.
Casco Viejo
Image Source: iStock – Casco Viejo is beautiful, but the traffic is a major drawback
Casco Viejo, also known as Casco Antiguo, dates to 1673. It’s here where you can find the finest historic properties in Panama. Today, Casco is a UNESCO designated World Heritage Site.
As well as some of Panama City’s most stylish buildings, Casco Viejo is where you can find some of the best bars and restaurants in Panama City.
Casco Viejo is the most popular tourist zone in Panama City, but you’ll have to be careful before you try to rent out a condo here. Unless the whole building is registered with the tourism authority, owners are limited to 45 day minimum rentals.
There are a couple of main drawbacks to living in Casco Viejo is the traffic. The narrow streets are perfect but not designed for a high volume of cars and there’s very limited parking. There is also the noise to consider. Casco is full of rooftop bars playing loud music into the night.
Santa Maria
Santa Maria is a gated community with great amenities including a golf course.
Santa Maria Golf & Country Club is an exclusive community in Panama City. Here you can find luxury condos, houses and mansions.
Santa Maria is 692 acres in all, offering privacy and security. The grounds are landscaped, the sidewalks wide, and the amenities top-notch.
You can find a Jack Nicklaus designed golf course, a Marriott Luxury Collection hotel, and a planned country club, which will feature tennis and squash courts, yoga and Pilates, an Olympic-sized pool, running track and bowling alley.
Smart Money Homes partner, Grupo Los Pueblos is behind Santa Maria. Contact us today for information on upcoming real estate opportunities in Santa Maria.
Coco Del Mar
Coco del Mar is in a great part of Panama City, close to the downtown area.
Coco del Mar is on the edge of downtown Panama City. Close to Panama Viejo, a UNESCO World Heritage Site, Coco del Mar is more relaxed than other parts of downtown Panama.
It’s home to some great restaurants and bars, and many of the condos here come with expansive ocean views.
Coco del Mar has long been one of the most prestigious neighborhoods in Panama City and has seen a lot of development over the past five years. It remains one of the most desirable places to live in Panama City.
City Beaches
The city beaches are a stretch of coastline beginning in Chame and running down past Coronado. At about an hour’s drive from Panama City, these are the best beaches close to the capital, and one of the best places to buy luxury real estate on the beach in Panama.
Playa Caracol
Playa Caracol has the best beaches close to Panama City
Playa Caracol is a beachside community being built on arguably the best beach close to Panama.
The project comes from Group Los Pueblos, the same developer who created the super-exclusive Ocean Reef community in Panama City. You can be sure of the highest quality throughout.
Amenities will include a luxury spa, a beach club, bars, and restaurants. The surf club, where you hire boards and accessories, is already finished. Nearby you can enjoy hiking, sport fishing, volcano trails, and golf.
All this with Panama City nearby as well.
Real Estate In Bocas Del Toro Is Best Avoided
Image Source: iStock – Bocas del Toro is a beautiful place to visit, but buy real estate here at your own risk.
Bocas del Toro consists of a Caribbean beach town and a collection of small islands. Situated a one-hour flight away from Panama City, Bocas del Toro is luxury real estate for people who want to live on their own private island in the Caribbean.
With sparkling turquoise waters, white sand beaches, and coconut trees swaying in the wind you would think that Bocas del Toro is the perfect place to buy.
But we recommend you stay away.
Bocas is full of untitled property which can lead to problems down the road. Titled real estate comes with more legal protection, security and ease of transfer. For this reason we would never recommend buying untitled land in Panama.
Bocas del Toro is a great place for a vacation, or even to rent. But not for buying real estate.
The Smart Money Homes team is always available to help.
We’re a well-connected company who work with real estate developers across Latin America. We have real estate opportunities in Mexico, Costa Rica, and Belize, we’re constantly seeking new ones.
All the developers we work with are carefully vetted and have a proven track record of success which we’re happy to share with you.
For information on our real estate opportunities throughout Latin America, please click here.
