Like Nothing Else In Panama City…

A view of Balboa Avenue in Panama City Panama

Panama is no secret anymore.

From Forbes to Condé Nast Traveler, Panama is popping up in more and more publications as a place to watch.

If you’re a Live And Invest Overseas reader, you know that we go way back with Panama.

Kathleen Peddicord and Lief Simon were the first to herald this country’s lifestyle and investment potential back in 1998. I chronicled their history here in last week’s OPA issue.

Recently, more publications have caught on to Panama’s appeal. It continues to be one of the smartest places to make an overseas property investment.

But things have changed over the past two decades.

You can no longer buy just any property in Panama and feel confident that you’ll make money. You need to target your investment search.

Here’s where you should be looking in 2024…

Panama City’s Only Master-Planned Community

My favorite area for investment in Panama City right now is Costa del Este.

This is the only master-planned community in the city, and it shows.

The neighborhood features high-end construction, wide streets with sidewalks, abundant parking spaces, and underground utilities.

If you’ve been to Panama City before, you know that thoughtful urban planning isn’t a given…

In fact, even unthoughtful urban planning isn’t a given. Many of the city’s older neighborhoods can be best described as chaotic.

Costa del Este sparkles in comparison.

Veteran overseas property investor Lee Harrison says, “I like it because it’s new… it’s nice… and it has good amenities, with tasteful shops as well as fine restaurants and cafés.”

This is the type of neighborhood where everything you need—grocery stores, hospitals, dry cleaners, pharmacies, and more—is within walking distance. You can settle in and never leave the neighborhood if you don’t want to…

But if you decide to venture beyond its borders, you’re within easy reach of Panama City’s most important areas.

Costa del Este is about halfway between Tocumen International Airport (which has countless direct flights to the States and Canada) and Casco Viejo, the UNESCO-recognized historic center of Panama City.

Spacious, walkable, clean, safe, and turn-key… What else does this neighborhood have to offer?

· It’s home to Panama City’s newest Johns Hopkins-affiliated hospital

· It’s just minutes from a Jack Nicklaus-designed golf course

· It has a massive central green space with walking trails, dog parks, baseball and soccer fields, and playgrounds

· At its center, you find the central mall, which is a sprawling complex with great shopping, dining, and entertainment options.

Who Lives Here?

Dozens of multinational corporations have bases in Costa del Este, and they have brought in thousands of expat workers… especially those with families. It’s safe, and the schools are outstanding.

Plenty of retirees are here, too.

Dave and Shyla Larman are a retired couple from the States. They decided to move to Costa del Este after attending a Live And Invest Overseas Conference.

The conference gave them access to a real estate agent who helped them find their dream condo, and they got exactly what they wanted—a good view and a good kitchen. On top of this, they got a big balcony, three bedrooms, four-and-a-half baths, a laundry room, and more.

For them, Costa del Este is the best neighborhood in the city.

Dave says, “Living in Costa del Este is like being retired overseas with training wheels. We have everything we need very nearby, all really convenient and comfortable… plus that great view over the ocean.

“Within three blocks of our building, we have Mail Boxes Etc., a dry cleaner, two nice, big grocery stores, plus my favorite shop, Felipe Motta, the local high-end liquor and wine store, and my favorite restaurant, Tre Scalini. We’re 10 minutes from Tocumen airport.”

Costa Del Este’s Lifestyle Options

Costa del Este is among Panama City’s most sought-after business and residential addresses.

It’s the current focus of Panama’s top developers, who are hard at work building houses and apartment towers, as well as commercial spaces.

Most expats, like Dave and Shyla, choose to live in the neighborhood’s residential towers.

Aside from spacious, well-designed condos and apartments, these towers boast amenities like pools, gyms, concierges, social areas, and secure parking spaces.

Some even offer medical services for older folks or people undergoing care at the Johns Hopkins-affiliated hospital.

The amenities are often luxury-level, as competing developers attempt to outdo each other with their offerings. They add value to any property in Costa del Este, whether you’re looking to live there or attract renters.

The Cost Of Costa Del Este

Prices in Costa del Este are among the highest in the city, but demand remains strong.

What’s the best play here?

Buying pre-construction either to sell or to rent at completion, targeting the employees of multinational corporations, can be an effective and profitable strategy.

Keep in mind that it offers a massive advantage when it comes to rental investment opportunities—one that may cancel out the cost of entry to this market.

Costa del Este is the only neighborhood in Panama City that allows short-term rentals. Specifically, it has two residential towers that allow short-term rentals.

Across the rest of the city, lets of fewer than 45 days are not allowed.

Staking A Claim Of Costa Del Este

Costa Del Este is a young neighborhood with room to grow… and it is growing quickly.

As we, as well as other publications, continue to draw attention to Panama’s appeal, we expect that growth to only accelerate.

Now is the time for property investors to get in on this market.

We’re hosting the Panama Property Spotlight Event on April 23 to bring you a unique and exclusive investment opportunity in this neighborhood (as well as another coveted beachfront location near Panama City).

As an Overseas Property Alert reader, you can attend for free and without obligation. All you need to do is register here.


Sophia Titley signature

Sophia Titley

Editor, Overseas Property Alert