Buying real estate in Panama City?

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What can $100K buy you in Panama City?

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SUMMARY

$100K can still buy a proper apartment in Panama City, with a good two-bedroom of roughly 60–85 m² still realistic in several established resale neighborhoods.

The budget works much better in older buildings than in new projects. In some parts of the city, choosing an older PH instead of a new amenity-heavy tower can almost double the amount of interior space $100K buys.

Two bedrooms are the clearest sweet spot. Several current Parque Lefevre listings cluster around $95,000–$100,000 rather than relying on one unusually cheap property, which makes the price range more convincing.

Three bedrooms are possible too, especially farther east around Don Bosco, 12 de Octubre and Río Abajo, but the extra bedroom often comes from squeezing more rooms into 60–70 m² rather than getting a larger apartment.

The biggest divide is not simply central versus peripheral. Building age and amenities can produce huge price differences even within the same neighborhood: in El Cangrejo, older basic stock has recently been priced around $1,524/m² versus roughly $2,760/m² for new full-amenity properties.

$100K can still achieve fairly central living around Parque Lefevre, Vía España, Pueblo Nuevo and parts of Betania. What it generally cannot achieve is premium central living in a modern tower on Avenida Balboa, Punta Pacífica or core Costa del Este.

Condo fees are another reason older mid-market apartments can work surprisingly well. Several current examples around $100K show monthly PH charges below or close to $100, leaving a much lighter recurring cost than many luxury towers.

Someone with exactly $100K in total cash should not normally spend all $100K on the purchase price. Shopping closer to $93,000–$97,000 leaves room for legal work, registration, due diligence, initial repairs and the inevitable expenses that appear after closing.

For investors, the cheaper apartment can also be the better asset. A practical unit bought at $80,000–$95,000 can produce stronger long-term rent-to-price economics than a much smaller property carrying a premium address.

Short-term rental income should not be used to justify an ordinary $100K residential purchase. Panama City restricts rentals below 45 days without the required tourist-accommodation authorization, so a conventional resale should work financially as a long-term or medium-term rental first.

The market is increasingly splitting in two. New construction, strong amenity packages and premium addresses are moving farther beyond the $100K mark, while older resale inventory still leaves buyers with a genuine choice of usable apartments. The budget still works, but buyers usually have to give up either the prestige address, the new building or some space.

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What Can $100K Buy You in Panama City?

Can you actually buy a decent apartment in Panama City for $100K today?

Yes. A $100K budget can still buy a proper two-bedroom apartment in Panama City today, although the best options are mostly older resales outside the expensive waterfront and luxury districts.

Current listings make that pretty hard to dispute. Encuentra24 has recently shown a 65 m² two-bedroom in Parque Lefevre at $97,000, another 63 m² unit there around $95,000, a 74 m² apartment at $99,500, and an 85 m² two-bedroom with a pool at exactly $100,000. These are normal residential apartments with parking rather than tiny rooms or properties far outside the city.

Similar prices appear in places such as Betania, Miraflores, Vía España, Pueblo Nuevo, Río Abajo, Chanis, 12 de Octubre and Don Bosco. Once we compare enough listings, the pattern is pretty clear: around $100K still buys a real apartment market in Panama City.

The compromise usually comes from the building rather than the basic usefulness of the apartment. Older construction, simpler common areas and secondary locations are common. Buyers who accept those trade-offs can still get substantially more space than Panama City's glossy new-project advertisements suggest.

Current example Asking price Size Bedrooms Approx. price/m²
Parque Lefevre $95,000 63 m² 2 $1,508
Parque Lefevre $97,000 65 m² 2 $1,492
Parque Lefevre $99,500 74 m² 2 $1,345
Parque Lefevre / Vía España $100,000 85 m² 2 $1,176
Miraflores / Betania area ~$95,000 ~79 m² 2 ~$1,200

How much apartment does $100K buy in Panama City now?

Around $100K currently buys roughly 60–85 m² in several value-oriented resale areas, while newer central apartments can shrink that budget to around 30–45 m².

The range is huge because Panama City has developed two very different price layers. Older resale apartments can still trade around $1,200–$1,600 per m² in selected buildings. At the other end, newer projects in central areas frequently move well above $2,500 per m² and can exceed $3,000.

The latest Parque Lefevre inventory illustrates the cheaper side particularly well. We found 63 m² for $95,000, 65 m² for $97,000, 74 m² for $99,500 and 85 m² for $100,000. The last example works out at only about $1,176 per m².

Compare that with Panama Equity's latest review of El Cangrejo. New or preconstruction apartments with full amenity packages averaged about $2,760 per m², while older buildings with minimal amenities averaged approximately $1,524 per m². Those properties can sit only a few blocks apart.

At those two price levels, the same $100,000 theoretically buys about 36 m² or 66 m². Building choice can therefore have almost as much impact on what buyers get as neighborhood choice.

Property type Approx. price/m² What $100K represents
Cheaper older resale $1,200 ~83 m²
Typical value resale $1,500 ~67 m²
Mid-market resale $1,800 ~56 m²
Better central resale $2,200 ~45 m²
New amenity-heavy product $2,750 ~36 m²
New product above $3,000/m² $3,100 ~32 m²

Get fresh and reliable data on the Panama City property market

A surprising number of units are priced at exactly the figure an investor visa asks for, which is not the same as being worth it. Where asking prices sit furthest from what places earn and resell for.

Can $100K still buy a two-bedroom apartment in Panama City?

Yes. Two bedrooms are currently the sweet spot for a $100K Panama City buyer.

We see them repeatedly rather than occasionally. Parque Lefevre alone currently has several two-bedroom apartments between roughly $95,000 and $100,000, ranging from about 63 m² to 85 m². Similar two-bedroom inventory regularly appears around Vía España, Pueblo Nuevo, Betania, Miraflores, Chanis and Río Abajo.

That repetition is important because one unusually cheap listing can be misleading. Four properties around the same price in one neighborhood tell us much more about the real market.

The better-value versions tend to come from established buildings where buyers are paying for usable interior space rather than an elaborate rooftop, coworking rooms or a resort-style lobby. The 85 m² Parque Lefevre example around $100,000 even includes a pool and children's area, so amenities do sometimes survive at this price.

For most buyers with a strict $100K ceiling, a two-bedroom between roughly 65 and 80 m² is the target we would start with.

Can you get three bedrooms in Panama City for $100K?

Yes, three bedrooms still appear around $100K in Panama City, but buyers usually have to move farther east or accept smaller bedrooms.

Don Bosco is a good example. Apartments in developments such as PH Mystic Village have appeared around this price with three bedrooms, two bathrooms, parking and common areas. Inventory around 12 de Octubre and Río Abajo has also produced three-bedroom layouts near the six-figure mark.

The catch becomes obvious once we look at floor area. Fitting three bedrooms into 62 or 65 m² creates a very different home from an older 80 m² two-bedroom. The buyer gains another door and another room, but each room gets smaller.

For a family that genuinely needs separate bedrooms, that trade can make sense. A couple buying mainly for themselves will often get a nicer apartment by keeping two bedrooms and using the extra floor area for a larger living room, kitchen or balcony.

This is one area where bedroom count can make a property look better on a listing portal than it feels in person.

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The pack also covers which buildings may legally take short stays, which fees to refuse, and what a seller hopes you will not check.

Where in Panama City does $100K buy the most space?

Betania, Miraflores, Parque Lefevre, 12 de Octubre, Río Abajo, Chanis and some eastern residential areas currently give a $100K buyer much more space than the city's premium neighborhoods.

Parque Lefevre is particularly easy to verify right now because there is enough live inventory around the threshold. Around $95,000–$100,000, recent apartments range from roughly 63 to 85 m².

Betania and nearby Miraflores can occasionally stretch the budget further. Older two-bedroom apartments around 79–80 m² have appeared below $100,000. These neighborhoods are established, centrally connected and far less dependent on foreign-buyer marketing than areas such as Punta Pacífica.

Moving toward Don Bosco can add bedrooms and amenities at the same price. Moving back toward Bella Vista, El Cangrejo or the waterfront generally cuts the floor area instead.

At this budget, the trade is pretty simple: every move toward Panama City's premium core tends to buy location with square meters.

Area What around $100K can realistically target Main trade-off
Betania / Miraflores ~70–80 m², often 2 bedrooms Older buildings
Parque Lefevre ~63–85 m², usually 2 bedrooms Less prestigious address
12 de Octubre ~70–80 m², sometimes 3 bedrooms More basic surroundings
Río Abajo / Chanis ~65–75 m², 2–3 bedrooms Farther from prime core
Don Bosco ~60–70 m², often 3 bedrooms Farther east
El Cangrejo Usually above $100K Less space for the money
Punta Pacífica Well above normal $100K range Prime-location premium

Can $100K still get you somewhere central in Panama City?

Yes. A $100K buyer can still live fairly centrally in Panama City, especially around Vía España, Parque Lefevre, Pueblo Nuevo and parts of Betania.

Vía España is the most useful example because it connects directly through the city and gives residents access to Metro stations, shops and employment areas without requiring a Punta Pacífica budget. Current inventory around the corridor and Parque Lefevre still reaches the $95,000–$100,000 range.

Pueblo Nuevo can also put buyers close to Parque Omar and major roads without paying San Francisco prices. Betania provides another established option for people who care more about everyday convenience and apartment size than living in a building designed to impress foreign investors.

There is a fairly sharp line between central living and premium central living. $100K can still achieve the first. Avenida Balboa frontage, a modern tower in Punta Pacífica or a new full-service project in a fashionable central neighborhood generally requires considerably more.

That distinction explains why some buyers come away thinking Panama City is cheap while others conclude that $100K buys almost nothing. They are often looking at completely different parts of the city.

The zones and projects in Panama City that are most overpriced

A surprising number of units are priced at exactly the figure an investor visa asks for, which is not the same as being worth it. Where asking prices sit furthest from what places earn and resell for.

Can you buy in El Cangrejo for $100K today?

El Cangrejo is currently just above the comfortable range for a $100K buyer, although older buildings can get surprisingly close.

Panama Equity's latest detailed review of roughly 25 active El Cangrejo listings found an average of about $1,524 per m² for older buildings with minimal amenities. Buildings around 10–20 years old with partial amenities averaged close to $1,800 per m². New and preconstruction properties with full amenities averaged approximately $2,760.

That means the same 60 m² apartment could be worth roughly $91,000 at the low end, $108,000 in a middle-aged building or $166,000 in new construction.

The latest actual listings we have seen fit that pattern. Older one-bedroom apartments around 64–75 m² have appeared close to $110,000. Some lack elevators or meaningful social areas, which explains part of the discount.

A strict $100K buyer should watch El Cangrejo rather than assume it is impossible. A seller willing to negotiate, a unit needing renovation or a very old PH can bring the neighborhood within reach.

The bigger point is the 81% price gap Panama Equity found between older basic buildings and new amenity-heavy stock inside the same neighborhood. As seen above, age and amenities can now change the price almost as dramatically as the address.

Can $100K buy in Punta Pacífica, Costa del Este or Avenida Balboa?

For a normal apartment, $100K is currently too low for Punta Pacífica and the core of Costa del Este, while Avenida Balboa only becomes realistic through unusually small, old or fringe-positioned properties.

Panama Equity's resale benchmarks make the gap easy to see. Punta Pacífica was around $2,200 per m², Avenida Balboa around $2,400 and Costa del Este about $2,500 in its recent neighborhood dataset.

At those prices, $100,000 corresponds to roughly 45 m² in Punta Pacífica, 42 m² on Avenida Balboa and 40 m² in Costa del Este. In reality, many buildings in those neighborhoods were designed with substantially larger apartments, so a buyer cannot simply ask a seller to carve a 40 m² section out of a 150 m² unit.

This is why the actual entry ticket tends to sit considerably above the theoretical $100K calculation.

Buyers also need to be careful with listing labels. An apartment advertised as being “at the entrance to Costa del Este” may appear in searches for Costa del Este while sitting outside the residential core people normally have in mind. The map is more useful than the headline.

Neighborhood Recent resale benchmark $100K equivalent
El Cangrejo ~$1,770/m² ~56 m²
San Francisco ~$1,900/m² ~53 m²
Punta Pacífica ~$2,200/m² ~45 m²
Avenida Balboa ~$2,400/m² ~42 m²
Costa del Este ~$2,500/m² ~40 m²
Casco Viejo ~$3,800/m² ~26 m²

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Does $100K buy a new apartment in Panama City anymore?

Barely. Around $100K now gets buyers into some very small new projects, but a normal new two-bedroom in central Panama City has largely moved beyond this budget.

The difference between new and old stock has become unusually large. In El Cangrejo, Panama Equity currently sees about $2,760 per m² for new or preconstruction buildings with full amenities versus roughly $1,524 in the oldest basic buildings. That is an 81% gap inside one neighborhood.

The broader market is moving in the same direction. Panama Equity's latest 2026 data showed about $196.7 million of new and under-construction homes sold in its most recent monthly report, up 27.8% from a year earlier. Developers had approximately 15,499 units available, 11% fewer than one year earlier, while completed inventory was down about 8%.

Earlier in the year, the same firm's market report had already put developer inventory at its lowest point in nine years and new-construction prices more than 15% above the previous year.

Those numbers help explain why cheap new apartments have become so small. Developers have less finished inventory to clear and buyers are still spending heavily on new product.

For $100K, older resale stock currently gives far more apartment. Buyers choosing new construction are largely paying for location, amenities, finishes and a newer building rather than interior space.

Is an older apartment actually the smarter way to spend $100K?

For an owner-occupier, an older well-run building is often the strongest $100K purchase we can find in Panama City right now.

The price difference has become too large to ignore. Panama Equity's El Cangrejo sample puts basic older buildings around $1,524 per m² and new amenity-heavy properties around $2,760. A buyer spending $100,000 at those prices is choosing between roughly 66 m² and 36 m².

Thirty extra square meters is enormous in a home. It can mean a real second bedroom, a larger kitchen, laundry space, a balcony and a living room where furniture actually fits.

Older buildings can also have simpler PH fees because there are fewer facilities to maintain.

There is a reason they are cheaper, though. We would check the elevators, water pumps, roof, façade, electrical systems, reserve fund and any planned extraordinary assessments before getting excited about the apartment itself. A badly managed old PH can turn cheap square meters into an expensive headache.

A well-managed old building is different. For someone planning to live there for several years, we would generally prefer a good 70–80 m² resale over a new 35 m² apartment at the same price.

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What amenities can a $100K Panama City apartment still have?

A $100K Panama City apartment can still come with parking, security and even a swimming pool, although full resort-style amenities become much harder to combine with a good location and generous space.

The current Parque Lefevre market gives a useful reality check. One 85 m², two-bedroom apartment around $100,000 advertises a pool, children's area, visitor parking and two bathrooms. A 74 m² unit around $99,500 includes pools, a gym, BBQ areas, children's facilities and 24-hour security.

That is more than we might expect from the price alone.

Other $100K apartments take the opposite approach. The $97,000, 65 m² Parque Lefevre property we reviewed has two elevators and covered parking but no social area. Maintenance is listed at about $98 per month.

This gives buyers several ways to spend the same budget. People who use a gym every day may be happy to sacrifice 10 m² for a better PH. Someone working from home may value that extra bedroom far more than a swimming pool used twice a month.

At this price, the best property depends heavily on which amenities the buyer will genuinely use.

Are the condo fees expensive on a $100K apartment?

Usually no. Many $100K apartments in Panama City's older and mid-market buildings still have PH fees around $75–$120 per month.

The fresh Parque Lefevre examples support that range. The $97,000, 65 m² apartment currently asks about $98 per month. The 85 m² property listed at $100,000 shows a $100 monthly maintenance charge. Another 74 m² apartment at $99,500 shows roughly $74.

Those numbers are manageable relative to the purchase price, especially compared with large luxury towers where extensive pools, gyms, staffing, air-conditioned common areas and elaborate landscaping all have to be paid for every month.

A $100 monthly PH fee costs $1,200 per year. A $250 fee costs $3,000. Over ten years, that difference adds up to $18,000 before any increase in charges.

We would compare PH fees almost as carefully as asking prices. Cheap ownership can disappear surprisingly quickly when the building itself is expensive to operate.

Example Apartment price Size Reported monthly PH
Parque Lefevre resale $97,000 65 m² ~$98
Parque Lefevre resale $100,000 85 m² ~$100
Parque Lefevre resale $99,500 74 m² ~$74
Older value apartment Around $100K ~60–80 m² Commonly ~$75–$120

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If you have exactly $100K, should you buy a $100K apartment?

No. Someone with exactly $100,000 available should probably shop around $93,000–$97,000 and keep cash aside for closing costs, due diligence and the first repairs.

The asking price never captures the whole transaction. Buyers normally need a lawyer, Public Registry work, notary expenses and other closing-related costs. Depending on the transaction, escrow, banking or financing expenses can add more.

Foreigners can generally buy ordinary titled apartments in Panama City on the same ownership basis as Panamanians, so there is no special foreign-buyer price layered on top of these listings. The important work is checking the title, outstanding PH fees, property-tax status, liens and the financial health of the building.

The good news is that dropping the search ceiling by a few thousand dollars does not currently destroy the choice. Fresh Encuentra24 inventory includes 63 m² around $95,000 and 65 m² around $97,000 in Parque Lefevre. Similar sub-$100K resales appear elsewhere.

If $100K is an all-in budget, we would rather own the $95,000 apartment with $5,000 left than win a negotiation at $100,000 and arrive at closing with nothing in reserve.

Can a $100K apartment in Panama City make money as a rental?

Yes. A well-bought $100K apartment can still produce a sensible long-term rental yield, but the purchase price needs to be low enough relative to the actual rent.

This is where cheaper neighborhoods can beat prestigious ones. Suppose an apartment costs $80,000 and rents for $550 per month. That produces $6,600 of annual rent, or an 8.25% gross yield. At a $100,000 purchase price, the same rent falls to 6.6%.

That gap is huge before we even account for PH fees, vacancy, repairs, management and taxes.

The calculation explains why we would be cautious about automatically buying the nicest address available. A small central apartment may look better on an investor brochure, but a practical two- or three-bedroom bought cheaply in Don Bosco, 12 de Octubre, Río Abajo or Parque Lefevre can have much stronger rent-to-price economics.

Current rents are also helping. Panama Equity says rents have been rising for more than a year across much of Panama City, with stronger gains in buildings less than about 15 years old.

We still need to underwrite every apartment individually. Paying $100,000 simply because the listing says “investment opportunity” tells us nothing. What matters is the achievable monthly rent divided by the total amount invested.

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Can you Airbnb a $100K apartment in Panama City?

Usually no. A normal residential apartment around $100K should be evaluated as a long-term or medium-term rental unless the property has the legal structure required for short stays.

Panama City restricts ordinary residential rentals of less than 45 days, which makes the Airbnb calculation very different from places where almost any condominium can legally operate by the night.

Some developers specifically build around that restriction. Hotel-licensed or hospitality-oriented projects can legally serve short-stay demand, and that licence becomes part of what buyers are paying for.

Those units also tend to be smaller and more expensive per square meter. A buyer can therefore face a choice between a tiny central unit designed for short stays and a much larger conventional residential apartment at roughly the same total price.

We would never price a normal $100K resale using optimistic Airbnb revenue unless the building's legal status has been verified first. Long-term rent should carry the deal on its own.

Is $100K becoming too little for Panama City real estate?

$100K is losing buying power in new and premium Panama City real estate, but it still buys plenty of apartment in the broader resale market.

The latest numbers show why the top of the market feels more expensive. Panama Equity reported $196.7 million in new-construction sales in its latest monthly dataset, up 27.8% year over year. Available developer inventory fell 11%, and finished inventory fell about 8%.

The resale market has also tightened in several popular neighborhoods. Earlier 2026 figures showed available resale inventory down roughly 30% on Avenida Balboa, 31% in Punta Pacífica, 38% in San Francisco, 40% in Costa del Este and 43% in El Cangrejo compared with a year earlier.

Meanwhile, new construction had already risen by more than 15% per square meter over twelve months.

Those are strong enough changes that we should expect $100K to keep struggling in prime and new projects if the current direction continues.

Yet today's actual listings prevent us from declaring the budget obsolete. Parque Lefevre still has several two-bedroom apartments between $95,000 and $100,000. Some approach 75–85 m². Similar value remains available across other non-prime districts.

The market is splitting in two: new, amenity-heavy and well-located buildings are pulling away while older stock remains much cheaper. For a $100K buyer, that widening gap creates opportunities as well as limitations.

Everything a foreign buyer should know before buying in Panama City

The pack also covers which buildings may legally take short stays, which fees to refuse, and what a seller hopes you will not check.

So what can $100K actually buy you in Panama City today?

$100K can still buy a good two-bedroom apartment of roughly 60–85 m² in Panama City today, and that is the clearest answer after looking through the current market.

Parque Lefevre is one of the strongest places to start, with multiple current two-bedroom listings around $95,000–$100,000 and floor areas from roughly 63 to 85 m². Betania, Miraflores, Vía España, Pueblo Nuevo, Río Abajo, Chanis and 12 de Octubre can offer similar value depending on the building.

Three bedrooms are possible, particularly farther east, but the layouts can become tight. Buyers who want El Cangrejo are closer to a $110K budget at the lower end. Punta Pacífica, core Costa del Este and the better Avenida Balboa towers generally require substantially more.

New construction is where $100K feels weakest. The current gap between new amenity-heavy properties and older resales can approach 80% per square meter even inside the same neighborhood. Someone buying for personal use can get dramatically more home by choosing a well-run older building.

So we would spend $100K on Panama City real estate only after accepting one clear trade-off. Give up the prestige address, give up the new building, or give up some space. Buyers willing to sacrifice one of those can still get a surprisingly solid apartment. Trying to keep all three is where $100K stops working.

OUR METHODOLOGY

This analysis tests what a $100K budget can actually buy in Panama City by looking at the properties buyers can find around that threshold, then comparing them with neighborhood pricing, building age, amenities, ownership costs, rental use and the wider direction of the market.

We gave more weight to repeated listing patterns than isolated bargains. A single unusually cheap apartment can distort the picture, so live inventory was used to see whether comparable two- and three-bedroom properties repeatedly appeared close to $100K. Asking prices show what buyers face in the market now; they are not treated as final transaction prices.

Price-per-square-meter data was used to make different parts of the city and different building types comparable. This is particularly important in Panama City because older buildings and new amenity-heavy projects can trade at very different prices even within the same neighborhood. Panama Equity's detailed El Cangrejo comparison and its broader neighborhood resale benchmarks were used for that part of the analysis.

We also separated purchase price from the real cost of owning the apartment. Current listings were checked for PH fees, parking, amenities, floor area and bedroom count, while official Panama sources were used for property registration, transfer procedures and the legal framework affecting short-term rentals.

The investment sections were evaluated primarily through long-term rental economics. We did not assume that an ordinary residential condo could legally generate nightly Airbnb income. Panama's Law 80 of 2012 was used as the primary legal source for the restriction on rentals shorter than 45 days in the District of Panama without the required tourist-accommodation authorization.

Key live-market sources include Encuentra24's $95,000 Parque Lefevre listing, the $97,000 Parque Lefevre listing, the $99,500 Park Place listing, the $95,000 Betania / Miraflores example, the $100,000 Mystic Village three-bedroom listing, and the $110,000 El Cangrejo example.

Broader market evidence comes primarily from Panama Equity's Panama City market update and its Q1 2026 property market report, which were used for new-versus-old pricing, neighborhood resale benchmarks, developer inventory, sales and resale supply. Rental-market context also draws on Panama Equity's Q2 2025 market update.

For legal and transaction claims, the main primary sources are Panama's Official Gazette publication of Law 80 of 2012, the Panama Public Registry's real-property registration manual, the Panamanian Civil Code, and the DGI's real-estate transfer tax guidance and Form 106.

The conclusion therefore does not come from one cheap listing or one citywide average. It comes from combining current inventory close to the actual budget with neighborhood pricing, building-level differences, recurring ownership costs, rental economics, legal restrictions and recent changes in supply and new-construction pricing.

The zones and projects in Panama City that are most overpriced

A surprising number of units are priced at exactly the figure an investor visa asks for, which is not the same as being worth it. Where asking prices sit furthest from what places earn and resell for.

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Shai Bar-Ziv

Founder, Panavanti

Shai Bar-Ziv is the founder of Panavanti, a boutique real-estate brokerage in Panama City specializing in investment properties: commercial plazas, office buildings, and high-yield residential in Costa del Este, the Banking District, and Casco Viejo. He works directly with foreign investors in English and Spanish, backed by a continuously updated dataset of Panama City listings with zone-level pricing.