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Panama City Is Moving West - Residentially Speaking

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Real Estate Boom in Panama West


The value of building permits processed five years ago in the districts of La Chorrera and Arraiján amounted to $208 million, but at the end of 2016 it was  estimated at $313 million.

Growth in real estate development in Panama West could be further enhanced once Line 3 of the Metro starts to operate, and the fourth bridge over the Canal has been built reports CentralAmericaData.

La Prensa. reports that “…Five years ago, building permits for residential and non-residential areas in the districts of Arraiján and La Chorrera totaled $208.3 million. Meanwhile, last year the preliminary figure for permits was $312.9 million, which represents a $104.6 million, or 50% increase in the construction sector in the country, according to the Comptroller General..”

The development of the area has led to an increase in the valuation of the land. “… The cost of land in these areas can range from $5 to $200 per square meter depending on the type of project or housing.  Included in the range are affordable housing units at $50,000, with preferential interest up to $120,000 or much larger homes sold at $400,000.”



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Panama City began moving west as soon as the canal zone was turned over to Panama in 1999.  The government issued land grants to areas in the Arraiján District and the district was populated with houses very quickly. The main problem was NONE of the infrastructure was in place when that building boom started.  Today, most areas have electric power at least sometimes, the tubing for water supply is laid in on top of the ground, and city sewer systems don't exist to this day. I know this as 5 of Nena's sibs own houses there.

The area is a tangle of roads and Burunga has a population density higher than that of New Jersey.

The area around Panamá Pacífico is beginning to be a boom town once the Metro line and new bridge are completed.



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