Demand from both domestic and foreign buyers is expected to grow beachfront apartment inventory from some 400 units today to over 1,600 units in the next 3 years.
Properties priced between US$200,000 and US$1 million are sought by Panamanians in the high-end and upper-middle-class brackets, as much as by foreign investors and retirees, according to studies by Panamaamerica.com.pa.
Important sections of the Pacific coast from Punta Chame to Playa Blanca, including Santa Clara, San Carlos, and Farallón, were considered for the study.
The report states that “… there are about 395 beach apartment units with strong demand demonstrated by sales during the planning and construction phases in three districts, amounting to 46.5%, and is expected that over the next three years, the inventory will increase to 1,632 units.
“The preferred typology for condominium projects is between 8 and 25 floors, in order to maximize the views and make the most of the land. In these cases, the residential units range from 1 to 3 bedrooms, with sizes ranging from 80 to 200 square meters. Along the Pacific coast there are a lot of active residential projects, both those that have been completed and those under construction.”