Greetings from Panama City.
When I first came here in 2004, Tocumen airport had a handful of gates. Last year, it handled nearly 21 million passengers.
On the ground, there are more shiny towers, more gourmet food stores, more fancy coffee shops, and more multinationals putting their names on buildings.
In times of volatility, capital and people flood into Panama City…and that’s happening right now. They come for the tax regime, the legal and economic frameworks, and a hub airport that puts the Americas on your doorstep.
I believe Panama City is still at a relatively early stage of a multi-decade transformation. And I see a much bigger Panama component in my next decade than in my last.
That’s why I recently made my first property purchase here in more than 20 years.
I bought a condo in Ipanema, a luxury three-tower development under construction on the waterfront beside Costa del Este, one of Panama City’s most prestigious neighborhoods. This week I visited the site and recorded a video. Click below to watch it now.
I bought here in an exclusive off-market deal alongside members of my Real Estate Trend Alert (RETA) group.
And as you can see, the location is incredible.
From where I’m standing, the view across the water to the Panama City skyline is totally unobstructed. Two towers are well under construction. I bought in the third, which will be the tallest, set back from the highway and facing out across the bay.
For almost 18 years, my rule has been to buy at the entry level, because that’s generally where I see the safest mix of value, liquidity, and upside.
I broke that rule here. I bought a premium condo and plan to rent it long term.
I see growing demand for premium real estate in Panama City that isn’t being met. International executives moving here want city-center living with luxury-resort amenities.
At Ipanema, those will include a 50-meter lap pool, tennis and pickleball courts, a gym, a bistro and bar, and a waterfront park with its own sand beach.
Wishing you a good real estate investing,
P.S. On Tuesday I fly to Uruguay to check out a potential deal for my RETA group. Stay tuned to see what I find…
