When I first got to Panama City in 2004, it was a sleepy tropical capital with a skyline still filling in.
There was no metro, and the airport had a handful of gates. Friends and family told me I was mad to buy there. I bought anyway.
I’ve been along for the ride ever since.
I’ve watched the Canal that passed into Panamanian hands double in capacity. I’ve watched a small airport become the connecting hub of the hemisphere breaking records of passenger numbers year after year. And I’ve watched the multinationals arrive.
Now Panama is a global city.
And tomorrow, I’m bringing members of my Real Estate Trend Alert (RETA) group a stunning off-market deal here in a community called Ipanema. I’m buying alongside members.
More on that in a moment. First, let’s take a look around Panama City…
Walk the streets today and you’ll see all the hallmarks of a global city…towering skyscrapers, high-end restaurants, designer boutiques, and malls filled with international brands. But you’ll also find the Canal, the old streets of Casco Viejo, and tropical forest within the city.
This is a place that draws well-heeled folks from across the world. And little wonder, the lifestyle here is incredible. There’s so much to see and do and explore.
Today I’m sharing a list of 15 of the top options compiled by long-time Panama expats on my team…
- Visit the Panama Canal: The canal is one of the world’s greatest engineering marvels. Witness it in action at the Miraflores Locks. You can also kayak through parts of the canal.
- Hike Metropolitan Natural Park: This large city park boasts incredible wildlife and lush rainforest. Panama City is the only city in the world with a tropical rainforest within its limits.
- Explore Casco Viejo: Panama City’s historic district boasts stunning colonial architecture, colorful street art, and lots of excellent bars and restaurants.
- Tour the BioMuseo: Explore Panama’s natural and cultural history at this museum designed by global architecture icon, Frank Gehry.
- Stroll along the Amador Causeway: Take in views of the city skyline and the entrance to the canal from this stunning causeway linking four islands to Panama City.
- Tour Mercado de Mariscos: Panama’s fish market was a gift from Japan and is known for its exceptional ceviche.
- Visit the Panama Viejo ruins: Explore the remains of the original Panama City, destroyed by pirates, including the legendary Henry Morgan, in the 17th century.
- Take a day trip to Taboga Island: Just a short boat trip from the city, the nearby Taboga Island, or “Island of Flowers,” has beautiful beaches and a relaxed atmosphere.
- Enjoy the nightlife in Calle Uruguay: Let your hair down and enjoy Panama City’s vibrant bar and club scene in this popular entertainment district.
- Shop till you drop at the Soho and Multiplaza malls: You’ll find lots of incredible shopping in Panama City, but Soho and Multiplaza have the greatest concentration of global high-end luxury brands.
- Hike Cerro Ancón: Climb this hill in the heart of Panama City for panoramic views across the bay, and a chance to spot sloths and toucans.
- Visit the Mercado de Artesanías in Balboa: The Balboa Handicrafts Market is a vibrant place to explore local Panamanian crafts and culture.
- Explore the San Blas Islands: Some of the most incredible beaches in Panama are on the semi-autonomous community of San Blas, home to the Guna indigenous people. Take a day trip, or stay the night and enjoy panoramic vistas of the stars.
- Explore the Punta Culebra Nature Center: Learn about marine ecosystems and observe local wildlife at this Smithsonian research station. An overlooked gem with some incredible displays and lots of iguanas and sloths, on Amador Causeway.
- Visit El Dorado for a Chinese breakfast: On Sunday mornings Panamanians love to eat a Chinese breakfast of dumplings and steamed buns. And the El Dorado neighborhood has some of the best traditional Chinese restaurants in Panama City.
This is just a taste of what you can do in and around Panama City.
But this booming world city is also a place of real estate opportunity…
I’ve brought RETA members some outstanding deals here. And they’ve led to big uplifts and strong rental income for members who bought.
Look at Ocean Reef: two islands, built from scratch off downtown Panama City and connected to the city by a causeway, with a marina between them for the yachts of the super-wealthy.
On Ocean Reef, I know of a RETA member getting rental income of around $6,000 a month. On the capital side, RETA members bought at Seascape on Ocean Reef from $783,000 and a condo there later listed for $995,000, an uplift of $212,000.
And then there’s the 692-acre, master-planned community of Santa Maria.
Here, at Ocean House, a RETA member who bought a two-bedroom condo for $268,200 was renting it long term for $2,600 a month. A gross yield of 11.6%.
Ocean Reef and Santa María are both from Alfredo Alemna and GLP—the same developer behind Ipanema, the RETA-only opportunity that opens tomorrow.
And Ipanema is going to be special…
Three sail-shaped towers billowing out over the Bay of Panama, on the last prime waterfront land in Panama City. Around 7,500 square meters of amenities, more than 80,000 square feet. A private urban beach and waterfront park. A 50-meter pool. A spa and wellness center. Sports courts, soccer fields, golf simulator, a running track, a bistro lounge.
The entry point is the luxurious two-bed condos from just $375,912. I figure these condos will be worth $600,000 five years after delivery and easily rent for $3,000 a month long-term.
That’s a gain of $224,088 and a gross yield approaching 10% renting long term.
Plus, there’s exclusive developer financing.
The deal opens exclusively to RETA members tomorrow, Wednesday, September 30, at 1 p.m. ET.
Wishing you good real estate investing,
P.S. I’m buying. I’m going for a condo at $473,000 and my plan is to rent long-term and tap into what I view as a growing and unmet demand for premium real estate in the perfect location in booming Panama City. In this short video, I tell you more about why I’m buying and I show you Ipanema in renders.
In my new video, I explain what I’m buying any why. Click to view.
