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Property On Panama City Beaches Vs The Best Of The U.S.

Apples For Apples, Panama’s Beach Buys Really Shine

Kathleen Peddicord by Kathleen Peddicord
Feb 24, 2017
in Panama, Real Estate
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Beachfront.

It’s a primary motivator for many people thinking about living or retiring overseas… including in Panama.

Beachfront, therefore, was an area of focus during last week’s Live and Invest in Panama Conference. This country offers many different and tempting options for living on the ocean…

Including the Pacific beaches that lie about an hour west of Panama City, the City Beaches, as locals call them. These are the nearest escape from the traffic, congestion, and fast-paced lifestyle of Panama City. This stretch of coastline has been developed over the past two decades and is the most popular weekend destination among city dwellers.

It also boasts swells that bring surfers from around the world.

In the last few years, the City Beaches and their residents have welcomed the arrival of luxuries and conveniences that previously were to be found only in Panama City. The region now offers modern supermarkets, shopping plazas with restaurants and boutiques, and a hospital.

In addition to being well-developed, the area is home to a well-rounded community. If you don’t think you’d be happy bumming on the beach all day, day after day, don’t worry. There’s plenty else to do here now.

Expats host social gatherings every day of the week, and organized activities are many and varied, everything from stand-up paddleboarding and yoga classes on the beach to karaoke happy hours and crafts classes.

Neither Panama City nor its City Beaches area is a budget destination any longer… but both offer a bona-fide luxury standard of living that is a global bargain.

Specifically, the luxury beachfront and ocean-view condos being built in the City Beaches are a screaming bargain compared with luxury beachfront and ocean-view condos in other prime Pacific coastal markets.

We looked at the best of these during last week’s conference.

How do these oceanfront condos along Panama’s City Beaches compare—in terms of the costs of purchase, of Home Owners Association fees, and of annual property taxes—with comparable properties in California or Florida?

Here are some example comparisons. We chose the U.S. properties based on their beachfront location, taking into account size, views, and amenities in an effort to make our comparisons as apples to apples as possible.

Specifically, we’re looking at two-bedroom, two-bath units of about 100 square meters in size with ocean views and within easy walking distance of the beach.

Panama City Beaches Coastal Resort

Price: US$218,000
HOA Fee: US$200 a month
Annual Property Taxes: US$2,200

Miami, Florida, Coastal Resort

Price: US$675,000
HOA Fee: US$1,000 a month
Annual Property Taxes: US$8,646

Newport Beach, California, Coastal Resort

Price: US$2,495,000
HOA Fee: US$1,300 a month
Annual Property Taxes: US$17,840

Note that the Panama City Beaches listing we’re using for our comparison isn’t a rarity… it’s typical of the type of residential property available along this coastline. Many similar examples were discussed during last week’s conference in Panama City.

And the point is that Panama’s City Beaches Pacific coast offers legitimately luxury-standard options on offer for bargain prices compared with comparable options in prime U.S. coastal spots.

Kathleen Peddicord

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Kathleen Peddicord

Kathleen Peddicord

Kathleen Peddicord has covered the live, retire, and do business overseas beat for more than 30 years and is considered the world's foremost authority on these subjects. She has traveled to more than 75 countries, invested in real estate in 21, established businesses in 7, renovated historic properties in 6, and educated her children in 4.

Kathleen has moved children, staff, enterprises, household goods, and pets across three continents, from the East Coast of the United States to Waterford, Ireland... then to Paris, France... next to Panama City, where she has based her Live and Invest Overseas business. Most recently, Kathleen and her husband Lief Simon are dividing their time between Panama and Paris.

Kathleen was a partner with Agora Publishing’s International Living group for 23 years. In that capacity, she opened her first office overseas, in Waterford, Ireland, where she managed a staff of up to 30 employees for more than 10 years. Kathleen also opened, staffed, and operated International Living publishing and real estate marketing offices in Panama City, Panama; Granada, Nicaragua; Roatan, Honduras; San Miguel de Allende, Mexico; Quito, Ecuador; and Paris, France.

Kathleen moved on from her role with Agora in 2007 and launched her Live and Invest Overseas group in 2008. In the years since, she has built Live and Invest Overseas into a successful, recognized, and respected multi-million-dollar business that employs a staff of 35 in Panama City and dozens of writers and other resources around the world.

Kathleen has been quoted by The New York Times, Money magazine, MSNBC, Yahoo Finance, the AARP, and beyond. She has appeared often on radio and television (including Bloomberg and CNBC) and speaks regularly on topics to do with living, retiring, investing, and doing business around the world.

In addition to her own daily e-letter, the Overseas Opportunity Letter, with a circulation of more than 300,000 readers, Kathleen writes regularly for U.S. News & World Report and Forbes.

Her newest book, "How to Retire Overseas: Everything You Need to Know to Live Well (for Less) Abroad," published by Penguin Random House, is the culmination of decades of personal experience living and investing around the world.

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