Panama City was founded in August 1519 as the first European settlement on the Pacific Coast. It soon became a gold diggers dream as gold that was found in Peru passed through Panama to be shipped
elsewhere, namely Spain. Naturally wherever there is money, there are also some shoddy characters and in 1671 English pirates lead by a guy named Henry Morgan not only ransacked the city, but also destroyed it in the process.
This makes Panama City the ideal place to consider for real estate investments. With the amount of visitors visiting the city annually, it should be no problem to rent out your condo, apartment or beach house. Known as the new frontier of real estate in Latin America, Panama City will not disappoint.