News

With economies and governments in turmoil worldwide, Panama is again emerging as the perfect alternative for international property buyers. So-called “Plan B” international real estate shoppers are flocking to Panama, looking for the lifestyle, pricing, and security they can’t find elsewhere.

This is a common phenomenon in Panama real estate. People turn to Panama whenever traditional markets plummet due to politics, scandals, or economic issues. It’s easy to understand why — Panama’s dollar-based economy, growth, stability, low cost of living, and great quality of life start to look pretty nice in the current world.

Panama’s version of a “Golden Visa” makes it an easy alternative. A real estate purchase of $300,000 or more creates a simple route to residency status and a long list of benefits to living in Panama.

A string of recent events, accented by soaring home prices throughout many parts of the world, has once again led to an uptick in queries and sales activity in recent weeks, PPR agents report. A recent CBC article (“Quebec snowbirds fleeing Sunshine State”) captured the phenomenon perfectly. Canadians are increasingly selling their properties in Florida, in the face of rising costs and skyrocketing HOA fees. 

One elderly Canadian said he and his wife were finding it “increasingly difficult to live in the U.S.”

“My HOA [homeowner association] fees were around $500 [US] a month five years ago. Now, it’s $900 [US] a month this year,” he told CBC.

Panama starts to look pretty good for buyers and investors tired of inflation, rollercoaster stock markets, and constant political upheaval. Investors, in particular, have been exploring options, with the rental market strong and quality waterfront units available. Interest is also high in Playa Caracol, the emerging beach market an hour west of Panama City, agents report.

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