Spotlight on Panama: Sun, Sea, Sand and Charming Contrasts

Luxury living is reaching new heights in this architecturally rich nation that links the Americas, writes Rosie Bell

Costa del Este, Panama City | Panama Sotheby’s International Realty

Beguiling beaches, delectable cuisine, misty mountain towns and islands galore—Panama does and has everything. Stretching between Costa Rica and Colombia, this isthmus is the narrow land bridge uniting North and South America, yet its diminutive proportions belie extraordinary diversity.

Take Panama City. The country’s sophisticated capital has both a tropical forest teeming with sloths, toucans and tamarins, and an urban fabric rich in architectural contrasts.

“To understand Panama City’s shape, you have to look at its history and its geography,” says Ramon Zafrani, co-founder of Panama City-based architecture studio Fémur. “Rather than spreading outward in every direction from a central core, as most cities do, Panama City grew in essentially one direction: east from Casco Viejo.”

To the west, the Panama Canal blocks expansion, and to the south lies Panama Bay. “The result is a long, linear city that hugs the coastline,” Zafrani explains.

The country is also home to the latest addition to the Sotheby’s International Realty network. In September, Panama Sotheby’s International Realty became the brand’s 65th office in the Caribbean and Latin American region, serving buyers drawn to Panama’s investment and visa offerings, but most of all to its homes and lifestyle.

Casco Viejo, Panama City | Panama Sotheby’s International Realty

Casco Viejo is the city’s UNESCO-listed historic center, where neoclassical structures like this three-bedroom apartment share the compact district with art nouveau, art deco and French-influenced buildings.

“It offers spaces you simply can’t find elsewhere in the city, buildings with thick lime-and-stone masonry walls, generous ceiling heights and a deep sense of authenticity,” Zafrani says.

Casco’s charms include buzzy cafés and rooftop bars from which to savor the year-round warm weather. Parkas and ponchos can be consigned to storage—come rain or shine, the mercury never dips below 68°F (20°C) in the capital.

Punta Pacifica, Panama City | Panama Sotheby’s International Realty

If it’s views you covet, look no further than Punta Pacifica. “This is the city’s front row, with direct ocean views from nearly every tower, and great restaurants, the best shopping and a Johns Hopkins hospital just minutes away,” says Brian Kelly, vice president of Panama Sotheby’s International Realty.

A 58th-floor, four-bedroom waterfront apartment in the neighborhood’s distinctive Ocean Club skyscraper is a case in point. “The JW Marriott [hotel] shares the tower, so restaurants and service are an elevator ride away,” says Kelly, whose multilingual team works out of the building.

Costa del Este, Panama City | Panama Sotheby’s International Realty

Further along the coast, Costa del Este is a modern, oceanfront community in Panama City with room to spread out, as well as panoramic skyline and sea views. An expansive four-bedroom penthouse in the neighborhood’s Regalia tower offers all of the above.

“The city’s verticality comes from a combination of factors: strong demand to live in a few central, waterfront neighborhoods with ocean views, and successive real estate booms,” explains Zafrani.

Santa María, Panama City | Panama Sotheby’s International Realty

When amenities are paramount, Santa María Golf and Country Club is a residential community minutes from the capital’s international airport. It offers a Nicklaus Design golf course, a Luxury Collection hotel, a sports club, private villas and high-rise luxury residences such as this three-bedroom apartment in the La Maison by Fendi Casa branded residence, which brings Fendi Casa’s Italian design to Panama.

For those seeking to wriggle their toes in the sand beyond the capital, a couple of hours’ drive southwest is Buenaventura, an oceanfront residential enclave with a 100-year-old corotú tree as its centerpiece.

A beachside four-bedroom contemporary villa offers the chance to do just that, and more.

Buenaventura, Panama | Panama Sotheby’s International Realty

“You can play golf or go horseback riding in the morning, visit the beach club in the afternoon, and go to the Corotú Spa when you want to do nothing at all,” says Kelly, who has called Panama home for 16 years.

The country’s real estate investment visa scheme provides a route to residency for overseas buyers spending at least US$300,000 on a new home or US$500,000 on a resale home which is held for a minimum of five years.

As Kelly advises: “Panama offers a U.S. dollar economy, a clear path to residency, and a way of life that is hard to match anywhere at this level.”

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