For newcomers looking to purchase property in Panama, the entire task can seem daunting. The markets differ from capital city to the beach areas to the interior. The process of finding and negotiating for a property isn’t the same as it is in the United States. Handling the bureaucracy and red tape when closing a deal can cause quite the headache, even for those with experience in real estate Stateside.
Panama City’s property market has been strong for the past decade, surviving the crash of 2007 and 2008, riding the country’s extraordinary economic growth of the past decade. Outside Panama City, the markets for both sales and rentals are less developed, and you have to put in time on the ground to find what you want. High demand in some rural areas means that prices are close to par with those in the capital.