PANAMA CITY, PA / ACCESS Newswire / April 25, 2025 / Tourism is booming in Panama, which is helping to fuel investor interest in Panama's well-established real estate market.
From 2022 to 2024, the number of visitors grew by 43%, from 1.9 million to 2.8 million a year, according to recently released data from Panama's Ministry of Tourism. In recent years, the government has been actively investing in tourism, which has been viewed as a relatively untapped gold mine, considering the country's natural beauty, easy airline access, and dollar-based economy.
One side effect of the tourism boom: is a surge in interest in Panama's fast-growing real estate market, according to Duncan McGowan, CEO of Punta Pacifica Realty (PPR), the largest, sales, rental, and property management firm in Panama City.
"We often see a direct correlation between tourism and international property sales," McGowan said. "Many of those visitors come back, stay longer, and become our future renters and buyers."
Property investors are also tracking the growing preference for alternative accommodations. According to Yovana Segarra, president of Panama's Hotel Association, a significant percentage of tourists are opting for Airbnb or private accommodations instead of hotels.
In recent years, rental rates in Panama City's most sought-after buildings have been rising, as demand increases for top apartments.
"The convergence of trends suggests that this is a prime opportunity for investing in Panama," says PPR managing director Jeff Barton. "Sophisticated investors are moving away from markets in turmoil and seeking the stability and growth potential that can only be found in Panama."
The growth of the tourism and real estate industry is converging in several hot markets. In downtown Panama City, there is new energy around the financial district of Obarrio, where a "superblock" is emerging around the new headquarters for CAF (Development Bank of Latin America and the Caribbean), and MOVA, a landmark project designed by the prestigious Italian brand B&B Italia.
Punta Pacifica Realty is also representing resort developments in Playa Caracol, a stunning white-sand beach just 70 minutes from the capital. Big projects are under construction, and the internationally recognized Radisson brand has already established a presence with its hotel.
Playa Caracol has been compared to Tulum or Costa Rica before the burst in international tourism. The surrounding area - an eco-paradise for surfing, fishing, birding, kayaking, and hiking - has all the ingredients to attract international tourists and property investors.
For those interested in learning more about Panama - its culture, tax system, healthcare services, and more - be sure to check out A Spotlight to Panama, a YouTube series showcasing the country's unique charm. To explore available properties with Punta Pacifica Realty, visit our website.
Contact Information
Sandy Chan
Project Manager - Punta Pacifica Realty
sandy@puntapacificarealty.com
+ (507) 6793-8160
Contact Information
Duncan McGowan
President of Punta Pacifica Realty
sales@puntapacificarealty.com
+1-786-528-3080
SOURCE: Punta Pacifica Realty
