What Panama Real Estate Board Leaders Want Expats to Know About Investing in 2024

Panama isn't just another tropical real estate destination - it's become a serious investment hub for Americans, Canadians, Europeans, and investors from Asia and South America. The reasons are compelling: the country offers political stability, a dollarized economy (the US dollar has been Panama's legal currency since 1903), and consistent economic growth anchored by the Panama Canal. The international community in Panama is thriving, and Panamanians themselves are genuinely welcoming to expats looking to relocate or invest. What's particularly exciting right now is the new Qualified Investor visa, also known as the Red Carpet visa, which is opening doors for investors from across the region, including Colombia and other South American nations looking to diversify their portfolios. The market fundamentals are strong: you've got a vibrant tourism sector, strong macroeconomic indicators, and a government that's actively enforcing regulations to protect consumers and maintain market integrity.

One of the most important takeaways from the ACOBIR board conversation is clear: we're in a buyer's market right now. This doesn't mean prices have crashed - it means buyers have leverage and options. The experts noted that while some areas like Bocas del Toro and Boquete have seen dramatic price appreciation over the past 10-15 years (especially post-COVID), there are still tremendous opportunities for smart investors. The key insight is that not all properties are created equal. You might drive around and see dozens of for-sale signs, but as the board members pointed out, the real question is which of those properties would you actually want to buy? This is where working with licensed, knowledgeable brokers becomes critical. Certain areas like Coronado (a favorite for expat retirees close to Panama City) have very limited inventory precisely because they're desirable - which actually makes them more valuable for long-term investment. Meanwhile, developing areas are seeing major builders actively investing in communities targeting both expats and Panamanians seeking second homes and vacation properties.

Here's something that makes Panama genuinely different from most Latin American countries: the US dollar is the official currency. This isn't a recent adoption - Panama has used the dollar since 1903, long before modern currency crises affected other nations in the region. For investors from the United States, this is huge. You don't have to worry about currency exchange fluctuations. Your investment isn't vulnerable to devaluation if the local currency tanks. You invest in dollars, you track your returns in dollars, you withdraw in dollars. It's straightforward. Combined with Panama's dollarized economy, reasonable cost of living, and access to world-class healthcare and international schools, you start to see why the country attracts such a diverse group of investors and retirees. The political stability backing this economic system matters too - it's one of the reasons major developers continue betting on Panama with new construction projects across multiple regions.

This is where the conversation gets serious. Panama's real estate regulations require all brokers and agents to be licensed - that's been law since 1999. But enforcement has been inconsistent depending on which government is in power. Recently, the Ministry of Commerce has been cracking down on unlicensed agents and brokers operating illegally on social media and elsewhere. Why does this matter to you as an investor? When you work with a licensed professional, you get presumption of competence. They've been trained, tested, and certified. They're held to ethical standards. If something goes wrong, you have legal recourse. Working with an unlicensed person selling property? You're basically on your own. And yes, you'll see plenty of promises on social media from people claiming to be 'real estate experts' or offering guaranteed returns - but if they don't have a license, they're violating Panamanian law. DoPanama takes this seriously, now even requiring bonds from their affiliated brokers to add extra protection for clients. The licensing requirement exists for the same reason we have licensed doctors, accountants, and lawyers - it protects the public and ensures minimum standards of competence.

One of the genuinely fun aspects of Panama is that different areas have completely different vibes. You could live in urban Panama City with its cosmopolitan feel, international restaurants, and vibrant nightlife. Fifteen minutes away? Beautiful beach communities with a completely different energy. There's Coronado, beloved by expat retirees for its proximity to the city and established infrastructure. There's Bocas del Toro if you want Caribbean island living. Boquete in the highlands offers cooler weather and a thriving expat community. El Valle offers rural mountain life with hot springs. And these are just a handful - every region of Panama has its own character. The real estate market reflects this diversity. A young family might love the growing communities in areas like Vanal with new construction and family-friendly developments. A retiree might prefer the established infrastructure and community feel of Coronado. Someone wanting beach life with development potential might look at smaller communities where builders are actively investing. The beauty is that with proper guidance from knowledgeable agents, you can find a property that genuinely matches your lifestyle vision for Panama.

Austin Hess from DoPanama emphasized something that gets overlooked in real estate transactions: after you buy the property, you still need to relocate your life. Maybe your wife loves the house but hates the kitchen - and needs to know which contractors can handle renovations to her standards. Maybe you're moving your pet internationally and need someone who understands the logistics. Maybe you have kids and need to research the right international schools. Maybe you're shipping household items and need reliable moving companies. A comprehensive real estate and relocation company connects you with the entire ecosystem - not just property brokers, but also immigration attorneys for visas and residency, medical professionals, school consultants, pet relocation services, and contractors. DoPanama works with a network of over 40+ affiliated professionals precisely because real estate is just the beginning of relocation. The brokers Austin highlighted - Berisa and Jonathan - have been in the business for 20 years, speak from genuine experience, and deeply understand what expats actually need when moving to a new country. That institutional knowledge and network becomes invaluable when something unexpected happens, which it always does.

If you're thinking about buying a property and potentially renting it out through Airbnb or short-term rental platforms, pay attention. Panama is moving toward stricter regulation of this practice, similar to what's happened in other countries. Certain projects are now requiring owners to have proper licenses if they want to offer short-term rentals legally. Some areas (like parts of Panama City and increasingly Boquete) are implementing stricter rules, and there's discussion about adding hotel taxes to short-term rental income. This matters because building communities have different standards. Some are designed for and welcome short-term rentals; others deliberately prohibit them to maintain stable neighborhoods where residents actually know their neighbors. If owning a property you can actively rent out is important to your investment strategy, you need to check the specific regulations for the building or neighborhood before you buy. Licensed brokers and attorneys will walk you through these requirements - another reason why working with licensed professionals matters more than just following the law, it protects your long-term investment viability.

If you're serious about relocating to or investing in Panama, here's what legitimate companies like DoPanama are doing to protect clients: First, they work only with licensed real estate professionals and attorneys. Second, they now require bonded brokers - meaning if something goes wrong, there's financial protection. Third, they conduct free consultations and detailed relocation surveys before matching you with the right professionals. They're transparent about the process. They don't overpromise returns or make guarantees you can't verify. They connect you with people who are licensed, bonded, and held to actual standards. This might sound basic, but it genuinely sets legitimate operations apart from the sea of unlicensed agents and inflated promises on social media. When you're trusting people with potentially $100,000+ investments and major life decisions, having this infrastructure matters. DoPanama's team includes attorneys (their president Nalini Navarro Guardia is a real estate attorney with 20 years of experience), experienced brokers, and relocation specialists. They're based in Panama, they understand the local systems deeply, and they have skin in the game - their reputation depends on clients having good experiences, not one-time sales.