Panama's economic growth in recent decades has been nothing short of extraordinary, earning it the moniker of "The Panamanian Exceptionalism." With stability and low inflation rates in comparison to other Latin American countries that have experienced military coups, high inflation, and currency devaluation, Panama has emerged as a compelling destination for property investment among American, European, and Latin American investors.
When buying property in Panama, the location and neighborhood are crucial considerations. Here are some of the top neighborhoods to keep in mind when navigating the real estate market:
Punta Pacífica
Punta Pacífica, one of the newest neighborhoods in Panama City, has rapidly established itself as an exclusive enclave for the country's elite, following in the footsteps of its venerable neighbor Punta Paitilla. This upscale neighborhood is situated in close proximity to opulent shopping centers and premium commercial offices and is renowned for its magnificent ocean vistas and lavish high-rise condos and hotels.
Avenida Balboa
Avenida Balboa stands tall as the bustling epicenter of Panama City's downtown area. Highly sought-after by those who thrive on being in the thick of the action, this vibrant neighborhood is widely considered the ideal location to reside in Panama for those seeking a lively urban lifestyle. Despite its central location, Avenida Balboa boasts breathtaking ocean views that serve as a stunning backdrop to the hustle and bustle of city life. It’s, therefore, hardly surprising that this area remains a coveted destination for those buying property in Panama.
Coco del Mar
Panama has been awarded a low to moderate crime rating by the US Department of State, and Coco del Mar remains one of its safest neighborhoods, owing to its privileged location and limited size. This exclusive residential area is home to high-ranking government officials, foreign ambassadors, and top executives, among others.
Costa del Este
Costa del Este is designed with convenience in mind. Just about every luxury amenity one can imagine may be located in this area. The amenities include commercial shopping plazas, super markets, stores, restaurants, banks, schools, gym, clinic, air mail, parks, a local industrial park and easy highway access. You can work and live in the same vicinity, and this provides maximum convenience with no long commuting.
We at Panama Realtor are committed to helping you find the perfect property for you in Panama, no matter which neighborhood you choose. Contact us today, and one of our experienced agents will be more than happy to assist you. Together, we can ensure that you get the best possible deal when buying property in Panama.
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