Panama Commercial Real Estate Trends for 2026: What Investors Should Know
As we move through 2026, Panama City's commercial real estate market continues to evolve with strength, resilience, and growing global attention. From restored colonial storefronts in Casco Viejo to the ongoing demand for office and retail space in Obarrio, and the rise of Chanis as a mixed-use hub — there’s no shortage of momentum.
This investor-focused guide explores the top commercial real estate trends shaping Panama City in 2026 — and where opportunities may be waiting.
1. Panama Remains a Stable, Growth-Oriented Investment Market
Despite global economic pressures, Panama continues to attract real estate investors thanks to:
- Its U.S. dollar-based economy
- Investor-friendly tax laws
- Strategic location with global trade flow via the Panama Canal
In 2026, commercial investors are especially focused on hospitality, flexible office layouts, and mixed-use buildings in high-traffic urban zones.
2. Casco Viejo: High Demand Meets Tight Inventory
Casco Viejo (San Felipe) remains the epicenter of tourism and boutique commerce in Panama City. The neighborhood's architectural charm, pedestrian appeal, and heritage protection status make it both a desirable and difficult place to invest.
2026 Trends:
- Increasing demand for hospitality spaces (rooftop bars, boutique hotels)
- Continued government support for restoration in Santa Ana
- Tourist foot traffic remains steady post-peak pandemic years
- Prices are up due to limited inventory and rising demand
Investor Insight: Restoration rules still apply, but high-end retail and food concepts thrive with proper permitting and design.
3. Obarrio: Business Core Bounces Back
Obarrio continues to reclaim its title as Panama’s business and banking district in 2026. Demand is shifting toward flexible-use spaces, especially for legal offices, clinics, co-working setups, and service brands.
2026 Signals:
- Increased interest in turnkey office and commercial floorplans
- High demand for street-facing retail along Calle 50 and Via España
- Long-term leases and renovated buildings are back in focus
- Hybrid uses — such as office+retail or clinic+wellness — are gaining traction
Investor Insight: Obarrio is ideal for buyers seeking stable rental income, less regulation, and modern building infrastructure.
4. Chanis: Quietly Becoming a Commercial Contender
Once known primarily as a residential area, Chanis is now drawing interest from entrepreneurs and long-term investors who see its untapped commercial potential.
2026 Growth Trends:
- Mixed-use buildings with ground-floor commercial are on the rise
- Lower property prices allow for easier entry and faster ROI
- Demand is increasing for local-serving businesses: cafés, fitness studios, health clinics, etc.
- Several Q1 and Q2 building permits signal new commercial development
Investor Insight: For early-movers, Chanis offers room to grow, flexible uses, and community-driven returns.
5. High-Performing Sectors in 2026
The following sectors are driving Panama’s commercial growth this year:
- Hospitality & Tourism – Hotels, boutique stays, rooftop lounges
- Retail & Food – Specialty coffee, fast casual, boutique fashion
- Healthcare & Wellness – Clinics, beauty, mental health, wellness centers
- Flexible Office & Mixed-Use – Especially in Obarrio and transitional neighborhoods
6. International Investment Keeps Flowing In
In 2026, Panama remains attractive to buyers from:
- The U.S., Canada, and Europe
- Latin American countries like Colombia and Argentina
- Mid-size foreign investors looking for hospitality and retail spaces
Panama’s tax incentives and transparent legal structure continue to attract non-resident investors. However, working with local legal and permitting advisors is crucial — especially in heritage zones like Casco Viejo.
Planning to Invest in Panama in 2026?
Whether you're interested in a heritage-rich location like Casco Viejo, a business-focused hub like Obarrio, or an up-and-coming district like Chanis, 2026 presents real opportunities for both first-time and seasoned investors.
FCA Group specializes in helping commercial investors find and secure properties that align with their business or portfolio goals.
Explore 2026 commercial listings in Panama City or Speak to our team about your investment strategy today.
