By: KeyCrew Media
The international real estate conversation in North America has expanded considerably, and Panama has become a recurring subject within it, not because of aggressive marketing, but largely because of word of mouth from people who have visited and come back with a different picture than they arrived with.
That pattern has played out in predictable ways across two investor summits that CHORD Real Estate, a Nashville-based international real estate firm, has hosted in Panama City. Participants from multiple U.S. states and Canada arrive with one set of assumptions and leave with another.
The Assumption and the Reality
The assumptions tend to run toward the Caribbean template. A pleasant tropical destination, developing infrastructure, limited business presence beyond tourism. What participants actually encounter is a capital city with a functioning international business ecosystem: a dollarized economy, a canal-anchored trade environment, one of the region’s largest international banking centers, and a concentration of multinational regional headquarters that has been building for decades. Companies operating regional bases in Panama include names familiar to any business audience. The country’s SEM tax designation law has made it structurally attractive to multinationals for years.
Steve Luther, who founded CHORD Real Estate’s international division and has led both summit groups personally, describes the first visit to Panama as consistently reorienting. “It really does take you by surprise when you put boots on the ground,” Luther said. “You just don’t expect it.”
The practical consequence of that surprise, for investors evaluating the market, is that the due diligence process has to account for a reality that is significantly different from the image. Markets that carry a perception gap between what buyers expect and what they find on the ground tend to be at an earlier stage of broad discovery, which is precisely the condition that draws investor attention in the first place.
“Panama has not done a lot of marketing around the world,” Luther noted. “As long as it’s not a topic of conversation around the average American’s dinner table, it’s got a lot of potential.”
Infrastructure on the Ground
The infrastructure picture that summit participants observed in May 2026 includes a metro line crossing the Panama Canal into the western province, highway widening toward the Pacific coast, additional bridge construction, and a new cruise terminal at Amador. These are government-backed projects with visible construction progress, not announced plans. Their combined effect is to expand geographic reach within the country and improve access to coastal areas that have historically been considered remote relative to Panama City.
Who Was in the Room
Participants in the second summit represented a range of objectives. Some were evaluating Panama purely on financial metrics. Others were considering the country’s residency options, including the Qualified Investor Visa, which grants permanent residency tied to a qualifying property purchase – a threshold currently set at $300,000 that is scheduled to rise to $500,000 in October 2026. Still others were drawn by lifestyle considerations, including a digital nomad in the group who was looking to establish Panama as a home base.
The diversity of objectives within a single investor group reflects something true about Panama as a market at this stage: it is broad enough to serve meaningfully different buyer profiles without being so mature that entry points have narrowed significantly.
The Third Summit
CHORD Real Estate has announced the third annual Invest Panama Summit for January 21 through January 24, 2027, in Panama City. The four-day program includes guided tours across Panama City’s primary development zones and an excursion to the Pacific coast. Steve and Ashley Luther are available to speak with prospective participants ahead of the event. Information is available at chordrealestate.com/investpanamasummit, or by contacting CHORD directly at info@chordrealestate.com or (615) 988-1001.
About the Expert: Steve Luther is the Principal, Chief Strategist & Advisor of CHORD Real Estate, a Nashville-based firm specializing in residential and international property services, with an international division focused on Panama and other emerging markets.
Disclaimer: This article is intended for informational purposes only and does not constitute legal, financial, or investment advice. The views expressed reflect those of the individuals quoted. Readers should conduct their own due diligence and consult qualified professionals before making any investment decisions.
