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The cost of short-term rentals in Panama City, Panama, has been on a steady rise over the past few years, and it’s becoming a bit of a talking point among travelers, digital nomads, and even locals.
Panama City has always been a hub for tourism and business, given its strategic location, modern skyline, and vibrant culture. Add to that the growing popularity of platforms like Airbnb, and you’ve got a recipe for soaring rental prices. A few years back, it was relatively easy to find affordable short-term stays, even in popular neighborhoods like Casco Viejo or Punta Pacifica. But now? Not so much.
Several factors are driving this trend. First, there’s the classic supply-and-demand equation. With Panama’s reputation as a top destination for expats and remote workers, the demand for short-term rentals has shot up. Landlords and property managers are keenly aware of this and are pricing accordingly.
Then there's the general post-pandemic travel boom. People are eager to explore again, and Panama City, with its mix of modern amenities and tropical vibes, has been a prime destination. Higher tourist volumes mean higher rental prices, especially during peak travel seasons.
Let’s not forget inflation and rising property values, which have impacted the real estate market globally. Property owners are adjusting their rates to keep up with increased costs, and those higher prices are trickling down to renters.
For travelers on a budget, this means it’s time to get creative—maybe looking into less touristy areas or booking well in advance to snag deals. And for locals who might have relied on short-term rentals as a more flexible housing option? They’re feeling the pinch, too.
It’s a classic case of a city growing in popularity and value—but with that growth comes challenges, especially when it comes to affordability.