The real estate market in Panama City is gradually returning to a phase of stable growth in 2026, with urban condominiums once again becoming one of the key drivers of activity. After several years of volatility, apartments in modern residential towers are once again attracting the attention of foreign buyers.

📊 Prices for condominiums are rising moderately — by around 2–4% per year, which analysts view as a sign of recovering demand. At the same time, foreign buyer activity is increasing: according to industry reviews, the number of transactions involving non-resident buyers has grown by roughly 25% over the past year.

One notable feature of the current market is that demand is not evenly distributed across the city. Buyers tend to focus on areas that combine infrastructure, liquidity, and a comfortable living environment. The most sought-after locations currently include:

— Costa del Este — a modern business district with international schools, offices, and a well-developed urban environment
— Punta Pacifica — one of Panama City’s most prestigious neighborhoods, known for its ocean views and high-end residential towers
— San Francisco — a vibrant district with restaurants, parks, and a broader range of price points.

🏙 In terms of pricing, the market remains relatively affordable by international standards. In popular districts of Panama City, apartments typically cost around $2,200–3,500 per m², while a two-bedroom condominium usually falls within the $200,000–$500,000 range. For a city with a dollar-based economy and developed infrastructure, this remains a competitive price level.

📈 It is also important to note that the current growth follows a longer recovery cycle. Over the past several years, the market has gone through several stages:

— 2020–2021 — a decline in activity during the pandemic
— 2022–2024 — market recovery and the return of international buyers
— 2025–2026 — a transition to more stable and moderate growth.

According to analysts, condominium prices in Panama City have increased by approximately 55–60% over the past five years, recovering from pandemic-era lows.

🌎 Another factor supporting demand is Panama’s growing role as a relocation destination. Entrepreneurs, remote professionals, and retirees from North America continue to move to the country. Panama also remains one of the few markets in the region where foreigners can purchase real estate on almost the same terms as local citizens, which significantly simplifies transactions.

⚖ At the same time, the market does not appear overheated. The average time needed to sell a property in Panama City is about 90–120 days, indicating a relatively balanced relationship between supply and demand.

As a result, the condominium market in Panama’s capital currently reflects a rare combination of factors: moderate price growth, steady international demand, and relatively accessible entry prices.

This is why urban apartments remain one of the most popular property formats both for investment and for relocation to the country. For those considering purchasing property in Panama, available real estate opportunities in Panama City can be explored on our website.