Browse through our listings of Panama luxury condos and homes, and contact us with any questions.The Panama City Panama real estate market has slowly evolved into what can be considered a very robust and now very developed market for high end real estate, specifically the offering of luxury condos and homes for sale within Panama City limits.
There are several neighborhoods in Panama City Panama that offer luxury condos and homes, including but not limited to, Punta Pacifica, Costa del Este, Avenida Balboa, Camino de Cruces, Albrook, Clayton, and of course the historic old town of Casco Viejo. Other neighborhoods like El Cangrejo, Obarrio, and even Bella Vista offer luxury Panama real estate options but are not necessarily associated with what locals would consider an exclusive area.
One of the first characteristics associated with Panama luxury condos is size. Buyers of luxury real estate in Panama City Panama should expect to find at least 300 meters of living space and most developers in the areas mentioned above are including at least one model that supercedes the 300 meter size range. In fact, there are many Panama condos and penthouses for sale that double, triple, or even quadruple the 300 meter (3,200 square feet) floor plan. If you are looking for a high-end property with plenty of space, Panama City Panama luxury real estate offerings will not disappoint. As an example, the Bahia Pacifica Panama building includes floor plans starting at 445 meters and quickly increasing to 700 and even 1,000 meters of living space. Other examples of luxury condos in Panama for sale with large floor plans include Aquamare, Belagio, and The Venetian.
Another aspect when considering luxury homes in Panama City Panama in this specific market is the finish quality. In this regard, there is, unfortunately, a very large gap between the best and the norm. Because the Panama real estate market has experienced such a boom over the last five years, quality craftsmen have been in short supply, meaning that many of the luxury apartments for sale in Panama are little more than over priced, poorly built living spaces. There are, however, impressive units in Panama City Panama including a handful of condos and homes mentioned in the neighborhoods above. Contact us to find out which buildings have major problems in and which buildings are worth looking at.
The amenity list in luxury Panama apartments and condos is very, very complete. Standard features for amenities in some of the high end offerings in Panama include swimming pools, gyms, security guards, squash and other racquet sports, along with vaulted lobbies and elegant meeting facilities (called Social Areas or Areas Sociales locally). Some projects have gone above and beyond the standard offering by including benefits such as maid turn-down service, onsite restaurants, independently operated spas and beauty salons, along with bringing a new level of quality and elegance to the “standard” amenity list mentioned previously.
Buildings with an exceptional amenity list include the Trump Ocean Club, Allure Panama, and the Intercontinental Miramar Towers among others. There are also several buildings under development that will provide an exceptional amenity list, due for completion in 2013.
The price point on most luxury condos for sale in Panama City Panama generally start at $2,200 per square meter. At this price, one can expect to find quality granite counter tops, solid wood doors, high end plumbing fixtures, and in some cases marble floors. Most brand new apartments are not delivered with appliances, light fixtures, or air conditioning units. Price points vary depending on the size of the apartment for sale, the neighborhood, the floor of the apartment (high floors generally mean better views and sell for a premium), and a variety of other factors including what is included in the total offering (appliances, central versus split air conditioning, furniture, etc).
In conclusion, for the discerning buyer looking for luxury property in Panama, there are more than a handful of options available for sale or rent in Panama. The key is understanding the intricacies of the condo or housing development and identifying an area and a building that best suits each individual buyer.