What Are the Best Places to Invest in Airbnb in Panama?

Source: AirROI Reviewed by Jun Zhou , Founder @ AirROI

Updated: 2026-05-04

The short-term rental market in Panama spans 62 cities tracked in AirROI's 2026 dataset, ranging from mature urban markets with thousands of active listings to emerging destinations where early operators still have pricing leverage. Supply growth, regulation, and seasonal demand vary significantly across the region — making market selection one of the highest-leverage decisions an Airbnb investor can make.

This page ranks the best Airbnb markets in Panama across four dimensions: market depth (active listings), revenue, nightly rate (ADR), and occupancy rate. Bella Vista, Panamá Province leads by market size with 612 active listings and $1,264/month revenue. Across all ranked markets, average occupancy is 31.1% with $1,119/month in average revenue and $162/night ADR. 62 of 62 markets carry a low regulation profile — a key consideration for investors evaluating compliance costs and time-to-market.

Rankings based on AirROI's analysis of 20,000,000+ short-term rental listings across revenue, ADR, occupancy, and regulation. See ranking methodology.

Explore Live Market Data

Top Airbnb Markets in Panama by Active Listings

Active listing count is the most direct measure of a market's depth, maturity, and investor confidence. Cities with the most Airbnb listings in Panama attract the highest volume of travelers and offer the most reliable benchmarking data for pricing and revenue projections. Bella Vista, Panamá Province leads with 612 active short-term rental listings and $1,264/month in average revenue.

#	Market	Active Listings (TTM)	Revenue/mo	ADR	Occupancy	Regulation
1	Bella Vista, Panamá Province	612	$1,264	$97	48.0%	Low
2	Bocas del Toro, Bocas del Toro	474	$1,125	$157	31.5%	Low
3	Panamá, Provincia de Panamá	468	$1,692	$124	49.6%	Low
4	San Francisco, Panamá Province	327	$1,360	$113	48.1%	Low
5	Distrito San Carlos, Panamá Oeste	264	$1,154	$202	25.6%	Low
6	Calidonia, Panamá Province	212	$713	$75	41.1%	Low
7	Coronado, Panamá Oeste	199	$932	$179	26.6%	Low
8	Farallon, Coclé	187	$825	$192	22.7%	Low
9	Bajo Boquete, Chiriquí	169	$972	$120	34.9%	Low
10	Nueva Gorgona, Panamá Oeste	159	$895	$135	32.9%	Low
11	Alto Boquete, Chiriquí	151	$582	$90	29.5%	Low
12	Punta Chame, Panamá Oeste	147	$865	$151	23.8%	Low
13	Panama City, Provincia de Panamá	128	$1,872	$130	50.5%	Low
14	El Valle, Coclé	123	$1,133	$169	32.5%	Low
15	Ancón, Panamá Province	119	$853	$92	39.7%	Low
16	Santa Ana, Panamá Province	114	$1,048	$75	50.6%	Low
17	Bastimentos, Bocas del Toro	101	$1,068	$194	26.3%	Low
18	Rio Hato, Coclé Province	99	$1,120	$227	23.1%	Low
19	Veracruz, Panamá Oeste	83	$1,284	$166	35.5%	Low
20	Río Hato, Provincia de Coclé	74	$1,206	$315	21.1%	Low
21	Chame District, Panamá Oeste Province	72	$900	$156	24.1%	Low
22	Los Naranjos, Chiriquí	70	$701	$115	27.9%	Low
23	Playa Venao, Los Santos Province	68	$1,970	$265	32.6%	Low
24	Maria Chiquita, Colón Province	67	$4,316	$411	35.8%	Low
25	Distrito de San Carlos, Panamá Oeste	66	$1,081	$165	29.2%	Low
26	Las Escobas del Venado, Provincia de Los Santos	66	$2,393	$288	37.2%	Low
27	Hicaco, Veraguas	65	$936	$113	32.6%	Low
28	El Chirú, Coclé Province	64	$1,854	$334	27.7%	Low
29	David, Chiriquí	63	$267	$41	29.3%	Low
30	Saboga, Panamá Province	58	$1,584	$343	26.6%	Low
31	El Chorrillo, Panamá Province	57	$1,597	$111	51.9%	Low
32	Pedasí, Los Santos	56	$934	$149	30.3%	Low
33	Bethania, Panamá Province	54	$964	$90	40.4%	Low
34	Caimitillo, Panamá Province	51	$1,031	$176	26.5%	Low
35	María Chiquita, Colón	50	$1,560	$251	23.3%	Low
36	Chame, Panamá Oeste	50	$1,007	$152	29.4%	Low
37	Parque Lefevre, Panamá Province	42	$539	$62	36.5%	Low
38	Torio, Provincia de Veraguas	42	$678	$96	27.2%	Low
39	Las Tablas, Los Santos	41	$196	$100	16.9%	Low
40	Jaramillo, Chiriquí	40	$1,083	$123	32.9%	Low
41	Las Lajas, Chiriquí	35	$961	$150	29.4%	Low
42	Pueblo Nuevo, Panamá Province	34	$502	$64	34.0%	Low
43	Cambutal, Los Santos	33	$943	$154	29.7%	Low
44	San Blas Islands, Guna Yala Comarca	32	$1,899	$417	28.3%	Low
45	24 de Diciembre, Panamá Province	32	$1,018	$166	23.6%	Low
46	David Sur, Chiriquí	30	$225	$37	25.6%	Low
47	Bijao, Coclé	29	$664	$206	16.8%	Low
48	Bocas del Toro, Provincia de Bocas del Toro	29	$1,061	$131	28.4%	Low
49	Boca Chica, Chiriquí	28	$1,127	$229	27.0%	Low
50	Cristóbal, Colón	26	$818	$86	37.0%	Low
51	Taboga, Panamá Province	26	$1,299	$155	27.7%	Low
52	Puerto Lindo, Colón	24	$1,678	$230	26.4%	Low
53	Coloncito, Panamá Oeste	24	$1,108	$201	27.1%	Low
54	Nueva California, Chiriquí	23	$603	$108	33.4%	Low
55	Volcán, Chiriquí	23	$497	$102	26.9%	Low
56	Tierra Oscura, Bocas del Toro	22	$555	$113	25.1%	Low
57	Portobelo, Colón	22	$833	$171	20.6%	Low
58	Chitré, Herrera	21	$213	$82	17.4%	Low
59	Buenaventura, Coclé	20	$4,323	$465	32.8%	Low
60	Don Bosco, Panamá Province	20	$623	$53	45.7%	Low
61	Juan Díaz, Panamá Province	18	$605	$91	32.2%	Low
62	Santiago, Veraguas	18	$263	$63	21.8%	Low

Most Profitable Airbnb Markets in Panama by Revenue

The most profitable Airbnb cities in Panama are those where hosts earn the highest average monthly revenue per listing — the single most telling indicator of a market's income potential. Buenaventura, Coclé leads with $4,323/month at $465 ADR and 32.8% occupancy. Whether you are evaluating your first STR investment or benchmarking an existing property, these top-earning Airbnb markets show where vacation rentals generate the greatest short-term rental income.

#	Market	Revenue/mo	Active Listings (TTM)	ADR	Occupancy	Regulation
1	Buenaventura, Coclé	$4,323	20	$465	32.8%	Low
2	Maria Chiquita, Colón Province	$4,316	67	$411	35.8%	Low
3	Las Escobas del Venado, Provincia de Los Santos	$2,393	66	$288	37.2%	Low
4	Playa Venao, Los Santos Province	$1,970	68	$265	32.6%	Low
5	San Blas Islands, Guna Yala Comarca	$1,899	32	$417	28.3%	Low
6	Panama City, Provincia de Panamá	$1,872	128	$130	50.5%	Low
7	El Chirú, Coclé Province	$1,854	64	$334	27.7%	Low
8	Panamá, Provincia de Panamá	$1,692	468	$124	49.6%	Low
9	Puerto Lindo, Colón	$1,678	24	$230	26.4%	Low
10	El Chorrillo, Panamá Province	$1,597	57	$111	51.9%	Low
11	Saboga, Panamá Province	$1,584	58	$343	26.6%	Low
12	María Chiquita, Colón	$1,560	50	$251	23.3%	Low
13	San Francisco, Panamá Province	$1,360	327	$113	48.1%	Low
14	Taboga, Panamá Province	$1,299	26	$155	27.7%	Low
15	Veracruz, Panamá Oeste	$1,284	83	$166	35.5%	Low
16	Bella Vista, Panamá Province	$1,264	612	$97	48.0%	Low
17	Río Hato, Provincia de Coclé	$1,206	74	$315	21.1%	Low
18	Distrito San Carlos, Panamá Oeste	$1,154	264	$202	25.6%	Low
19	El Valle, Coclé	$1,133	123	$169	32.5%	Low
20	Boca Chica, Chiriquí	$1,127	28	$229	27.0%	Low
21	Bocas del Toro, Bocas del Toro	$1,125	474	$157	31.5%	Low
22	Rio Hato, Coclé Province	$1,120	99	$227	23.1%	Low
23	Coloncito, Panamá Oeste	$1,108	24	$201	27.1%	Low
24	Jaramillo, Chiriquí	$1,083	40	$123	32.9%	Low
25	Distrito de San Carlos, Panamá Oeste	$1,081	66	$165	29.2%	Low
26	Bastimentos, Bocas del Toro	$1,068	101	$194	26.3%	Low
27	Bocas del Toro, Provincia de Bocas del Toro	$1,061	29	$131	28.4%	Low
28	Santa Ana, Panamá Province	$1,048	114	$75	50.6%	Low
29	Caimitillo, Panamá Province	$1,031	51	$176	26.5%	Low
30	24 de Diciembre, Panamá Province	$1,018	32	$166	23.6%	Low
31	Chame, Panamá Oeste	$1,007	50	$152	29.4%	Low
32	Bajo Boquete, Chiriquí	$972	169	$120	34.9%	Low
33	Bethania, Panamá Province	$964	54	$90	40.4%	Low
34	Las Lajas, Chiriquí	$961	35	$150	29.4%	Low
35	Cambutal, Los Santos	$943	33	$154	29.7%	Low
36	Hicaco, Veraguas	$936	65	$113	32.6%	Low
37	Pedasí, Los Santos	$934	56	$149	30.3%	Low
38	Coronado, Panamá Oeste	$932	199	$179	26.6%	Low
39	Chame District, Panamá Oeste Province	$900	72	$156	24.1%	Low
40	Nueva Gorgona, Panamá Oeste	$895	159	$135	32.9%	Low
41	Punta Chame, Panamá Oeste	$865	147	$151	23.8%	Low
42	Ancón, Panamá Province	$853	119	$92	39.7%	Low
43	Portobelo, Colón	$833	22	$171	20.6%	Low
44	Farallon, Coclé	$825	187	$192	22.7%	Low
45	Cristóbal, Colón	$818	26	$86	37.0%	Low
46	Calidonia, Panamá Province	$713	212	$75	41.1%	Low
47	Los Naranjos, Chiriquí	$701	70	$115	27.9%	Low
48	Torio, Provincia de Veraguas	$678	42	$96	27.2%	Low
49	Bijao, Coclé	$664	29	$206	16.8%	Low
50	Don Bosco, Panamá Province	$623	20	$53	45.7%	Low
51	Juan Díaz, Panamá Province	$605	18	$91	32.2%	Low
52	Nueva California, Chiriquí	$603	23	$108	33.4%	Low
53	Alto Boquete, Chiriquí	$582	151	$90	29.5%	Low
54	Tierra Oscura, Bocas del Toro	$555	22	$113	25.1%	Low
55	Parque Lefevre, Panamá Province	$539	42	$62	36.5%	Low
56	Pueblo Nuevo, Panamá Province	$502	34	$64	34.0%	Low
57	Volcán, Chiriquí	$497	23	$102	26.9%	Low
58	David, Chiriquí	$267	63	$41	29.3%	Low
59	Santiago, Veraguas	$263	18	$63	21.8%	Low
60	David Sur, Chiriquí	$225	30	$37	25.6%	Low
61	Chitré, Herrera	$213	21	$82	17.4%	Low
62	Las Tablas, Los Santos	$196	41	$100	16.9%	Low

Most Expensive Airbnb Markets in Panama by Nightly Rate

The average daily rate (ADR) measures how much guests pay per night in each market, making it the clearest indicator of a city's short-term rental pricing power. Buenaventura, Coclé commands the highest Airbnb nightly rate in Panama at $465/night, generating $4,323/month at 32.8% occupancy. Markets with premium nightly pricing typically feature high-demand destinations where travelers pay a significant premium over hotel alternatives.

#	Market	ADR	Active Listings (TTM)	Revenue/mo	Occupancy	Regulation
1	Buenaventura, Coclé	$465	20	$4,323	32.8%	Low
2	San Blas Islands, Guna Yala Comarca	$417	32	$1,899	28.3%	Low
3	Maria Chiquita, Colón Province	$411	67	$4,316	35.8%	Low
4	Saboga, Panamá Province	$343	58	$1,584	26.6%	Low
5	El Chirú, Coclé Province	$334	64	$1,854	27.7%	Low
6	Río Hato, Provincia de Coclé	$315	74	$1,206	21.1%	Low
7	Las Escobas del Venado, Provincia de Los Santos	$288	66	$2,393	37.2%	Low
8	Playa Venao, Los Santos Province	$265	68	$1,970	32.6%	Low
9	María Chiquita, Colón	$251	50	$1,560	23.3%	Low
10	Puerto Lindo, Colón	$230	24	$1,678	26.4%	Low
11	Boca Chica, Chiriquí	$229	28	$1,127	27.0%	Low
12	Rio Hato, Coclé Province	$227	99	$1,120	23.1%	Low
13	Bijao, Coclé	$206	29	$664	16.8%	Low
14	Distrito San Carlos, Panamá Oeste	$202	264	$1,154	25.6%	Low
15	Coloncito, Panamá Oeste	$201	24	$1,108	27.1%	Low
16	Bastimentos, Bocas del Toro	$194	101	$1,068	26.3%	Low
17	Farallon, Coclé	$192	187	$825	22.7%	Low
18	Coronado, Panamá Oeste	$179	199	$932	26.6%	Low
19	Caimitillo, Panamá Province	$176	51	$1,031	26.5%	Low
20	Portobelo, Colón	$171	22	$833	20.6%	Low
21	El Valle, Coclé	$169	123	$1,133	32.5%	Low
22	24 de Diciembre, Panamá Province	$166	32	$1,018	23.6%	Low
23	Veracruz, Panamá Oeste	$166	83	$1,284	35.5%	Low
24	Distrito de San Carlos, Panamá Oeste	$165	66	$1,081	29.2%	Low
25	Bocas del Toro, Bocas del Toro	$157	474	$1,125	31.5%	Low
26	Chame District, Panamá Oeste Province	$156	72	$900	24.1%	Low
27	Taboga, Panamá Province	$155	26	$1,299	27.7%	Low
28	Cambutal, Los Santos	$154	33	$943	29.7%	Low
29	Chame, Panamá Oeste	$152	50	$1,007	29.4%	Low
30	Punta Chame, Panamá Oeste	$151	147	$865	23.8%	Low
31	Las Lajas, Chiriquí	$150	35	$961	29.4%	Low
32	Pedasí, Los Santos	$149	56	$934	30.3%	Low
33	Nueva Gorgona, Panamá Oeste	$135	159	$895	32.9%	Low
34	Bocas del Toro, Provincia de Bocas del Toro	$131	29	$1,061	28.4%	Low
35	Panama City, Provincia de Panamá	$130	128	$1,872	50.5%	Low
36	Panamá, Provincia de Panamá	$124	468	$1,692	49.6%	Low
37	Jaramillo, Chiriquí	$123	40	$1,083	32.9%	Low
38	Bajo Boquete, Chiriquí	$120	169	$972	34.9%	Low
39	Los Naranjos, Chiriquí	$115	70	$701	27.9%	Low
40	Tierra Oscura, Bocas del Toro	$113	22	$555	25.1%	Low
41	Hicaco, Veraguas	$113	65	$936	32.6%	Low
42	San Francisco, Panamá Province	$113	327	$1,360	48.1%	Low
43	El Chorrillo, Panamá Province	$111	57	$1,597	51.9%	Low
44	Nueva California, Chiriquí	$108	23	$603	33.4%	Low
45	Volcán, Chiriquí	$102	23	$497	26.9%	Low
46	Las Tablas, Los Santos	$100	41	$196	16.9%	Low
47	Bella Vista, Panamá Province	$97	612	$1,264	48.0%	Low
48	Torio, Provincia de Veraguas	$96	42	$678	27.2%	Low
49	Ancón, Panamá Province	$92	119	$853	39.7%	Low
50	Juan Díaz, Panamá Province	$91	18	$605	32.2%	Low
51	Bethania, Panamá Province	$90	54	$964	40.4%	Low
52	Alto Boquete, Chiriquí	$90	151	$582	29.5%	Low
53	Cristóbal, Colón	$86	26	$818	37.0%	Low
54	Chitré, Herrera	$82	21	$213	17.4%	Low
55	Santa Ana, Panamá Province	$75	114	$1,048	50.6%	Low
56	Calidonia, Panamá Province	$75	212	$713	41.1%	Low
57	Pueblo Nuevo, Panamá Province	$64	34	$502	34.0%	Low
58	Santiago, Veraguas	$63	18	$263	21.8%	Low
59	Parque Lefevre, Panamá Province	$62	42	$539	36.5%	Low
60	Don Bosco, Panamá Province	$53	20	$623	45.7%	Low
61	David, Chiriquí	$41	63	$267	29.3%	Low
62	David Sur, Chiriquí	$37	30	$225	25.6%	Low

Highest Occupancy Airbnb Markets in Panama

Airbnb occupancy rate measures the percentage of available nights actually booked — the most telling indicator of short-term rental demand in a market. Panamá, Provincia de Panamá leads Panama with 49.6% occupancy, $1,692/month revenue, and 468 active listings. Markets with the highest STR occupancy rates reflect strong, sustained guest demand — a critical signal for investors evaluating where properties will stay consistently booked year-round. This ranking is filtered to markets with 300+ listings to ensure statistical reliability.

#	Market	Occupancy	Active Listings (TTM)	Revenue/mo	ADR	Regulation
1	Panamá, Provincia de Panamá	49.6%	468	$1,692	$124	Low
2	San Francisco, Panamá Province	48.1%	327	$1,360	$113	Low
3	Bella Vista, Panamá Province	48.0%	612	$1,264	$97	Low
4	Bocas del Toro, Bocas del Toro	31.5%	474	$1,125	$157	Low

How to Choose an Airbnb Investment Market in Panama

No single ranking tells the full story. The best Airbnb market for a given investor depends on their capital, risk tolerance, operating model, and income goals. The four ranking dimensions on this page — market depth, revenue, ADR, and occupancy — serve different investor profiles.

If you prioritize predictable cash flow, start with the occupancy rankings. Markets where occupancy exceeds 55% offer consistent bookings and lower vacancy risk. High-occupancy markets may not have the highest nightly rates, but their revenue stability makes them better suited for mortgage-backed investments where monthly debt coverage matters more than peak earnings.

If you're targeting maximum income per property, use the revenue rankings. Revenue is the product of nightly rate and occupancy — it captures the combined effect of both. The highest-revenue Airbnb markets in Panama tend to be destination cities where travelers stay longer and pay a premium for entire-home listings.

If you're evaluating luxury or premium positioning, the ADR rankings show where guests are willing to pay top dollar per night. High-ADR markets reward property upgrades, professional photography, and amenity investments. However, a high nightly rate with low occupancy may generate less income than a moderately priced listing that stays booked consistently.

If you want the deepest market data, the active listings rankings identify cities with the largest short-term rental supply. More listings mean more comparable properties for pricing, more data points for revenue projections, and typically a more liquid resale market if your investment thesis changes.

In all cases, check the regulation column before committing capital. A profitable market with high regulation may require permits, annual caps on rental days, or costly compliance steps that erode returns. Markets with low regulation offer faster time-to-market but may tighten rules as STR supply grows.

Short-Term Rental Regulation in Panama

Understanding the regulatory environment is critical for any Airbnb investment in Panama. Regulation affects licensing costs, annual operating limits, tax obligations, and the long-term viability of a short-term rental strategy.

Across the 62 markets ranked on this page: 62 have a low regulation profile (generally operator-friendly with minimal licensing requirements), 0 have medium regulation (some permit or registration requirements), and 0 have high regulation (strict licensing, annual rental day caps, or active enforcement). Markets with low regulation offer the lowest barrier to entry, while high-regulation markets may still be profitable — but require careful compliance planning and often limit the number of properties a single operator can manage.

AirROI classifies regulation as a market-level signal based on available ordinance data and platform registration patterns. This is not legal advice — always verify current local ordinances, as short-term rental rules can change rapidly, especially in high-growth markets where municipalities are actively responding to STR expansion.

How We Rank the Best Airbnb Investment Markets in Panama

This page ranks Airbnb markets in Panama across four dimensions that matter most to short-term rental investors and operators: market depth (active listings), revenue potential (monthly income per listing), pricing power (average daily rate), and booking demand (occupancy rate). Each ranking uses the same underlying dataset but sorts by a different metric, giving you multiple lenses to evaluate where to invest in Airbnb in Panama.

No single metric tells the full story. A market with high ADR but low occupancy may underperform one with moderate pricing and strong demand. Revenue captures the combined effect of rate and occupancy, while active listings signal whether a market has enough depth for reliable benchmarking and a liquid resale environment. We include regulation data alongside every ranking so you can weigh compliance risk before committing capital.

Ranking Methodology & Data Sources

Active Listings (TTM): The count of active short-term rental listings in each market over the trailing twelve months — a proxy for market maturity, data reliability, and investor confidence in Panama.
Monthly Revenue: Average gross revenue per listing per month — the bottom-line metric for evaluating Airbnb profitability in Panama and projecting cash flow.
Average Daily Rate (ADR): The mean nightly booking price across all active listings — the clearest measure of a market's short-term rental pricing power.
Occupancy Rate: Percentage of available nights booked — the demand signal that determines how much of your nightly rate converts to actual income. Occupancy rankings are filtered to markets with 300+ listings to exclude small markets with unreliable averages.
Regulation: An indicator of the local regulatory climate in Panama, from low (operator-friendly) to high (strict licensing and enforcement) — essential for assessing compliance risk.

All data is sourced from AirROI's proprietary analytics pipeline, which tracks 20,000,000+ properties across 190+ countries. Metrics are recalculated on a rolling basis using trailing twelve-month aggregates from active listings. For full methodology, see the data methodology page.

Frequently Asked Questions About the Best Airbnb Markets in Panama

These quick answers summarize the most common investor and operator questions using AirROI's latest market data for Panama.

What are the best places to invest in Airbnb in Panama?

Bella Vista, Panamá Province leads this ranking for Panama with 612 active listings — the largest market by depth. Markets are ranked by listing count because deeper markets offer more comparable data, more pricing benchmarks, and a more predictable operating environment for investors. Each row also shows revenue, ADR, occupancy, and regulation so investors can evaluate based on what matters most to them.

Which market has the highest Airbnb revenue in Panama?

Buenaventura, Coclé posts the highest average monthly revenue in this ranking at $4,323. Revenue leaders often combine healthy rates, solid occupancy, and enough listing scale to support repeatable operations rather than one-off outliers.

Which market has the strongest Airbnb occupancy in Panama?

El Chorrillo, Panamá Province has the highest occupancy rate in this comparison at 51.9%. High occupancy can signal resilient demand, but investors still need to balance it against nightly rates, regulation, and supply depth before deciding where to buy or operate.

Which Airbnb markets in Panama have the lowest regulation?

Bella Vista (Panamá Province), Bocas del Toro (Bocas del Toro), Panamá (Provincia de Panamá) currently show low regulation profiles in this ranking. Lower regulation can reduce compliance costs and time-to-market for new hosts, but investors should always verify local ordinances before purchasing — rules can change quickly as short-term rental markets grow.

Is short-term rental investing still profitable in Panama in 2026?

The markets ranked here average 31.1% occupancy, and the top performer posts $4,323 in monthly revenue. Profitability depends on property acquisition cost, local operating expenses, and regulation compliance — but the data shows active, performing markets exist across Panama for well-researched investors.

How often are AirROI's top Airbnb market rankings updated?

AirROI updates these rankings using the latest market snapshot available in the dataset, which for this page is anchored to 2026. Rankings should be treated as current market intelligence rather than permanent truths because pricing, demand, regulation, and supply can all shift over time.

What metrics should I use to evaluate Airbnb investments in Panama?

The most important metrics for comparing short-term rental markets are active listing count (market depth and data reliability), occupancy rate (demand consistency), average daily rate (pricing power), monthly revenue (income potential), and regulation level (compliance cost and risk). This ranking sorts by market depth first; use the other columns to filter for the profile that fits your investment strategy.

What makes a good Airbnb market for first-time investors in Panama?

First-time investors in Panama should prioritize markets with high occupancy (55%+) and low regulation, which reduce the risk of empty calendars and compliance surprises. Markets with 200+ active listings also provide better benchmarking data and a more predictable operating environment. Revenue is important, but consistent demand is more forgiving for operators still learning pricing and guest management.

What is a good Airbnb occupancy rate in Panama?

Across the markets ranked here, the average occupancy rate in Panama is 31.1%. Occupancy above 50% is generally considered healthy for short-term rentals, and above 65% signals strong, sustained demand. However, the best occupancy rate depends on pricing strategy — some hosts maximize revenue by targeting fewer bookings at higher nightly rates rather than maximizing booking volume.

How does regulation affect Airbnb investment returns in Panama?

Regulation is one of the most overlooked risks in short-term rental investing. In Panama, 62 of 62 ranked markets have low regulation, 0 have medium, and 0 have high. High-regulation markets often require permits, limit annual rental days, or impose occupancy taxes — all of which reduce net returns. Low-regulation markets offer faster time-to-market and lower compliance costs, but rules can tighten as STR supply grows.

What is the difference between ADR and RevPAR for Airbnb investing?

ADR (Average Daily Rate) is the average nightly price guests pay, while RevPAR (Revenue Per Available Rental night) factors in both price and occupancy. A market with $200 ADR and 50% occupancy has $100 RevPAR — the same as a market with $125 ADR and 80% occupancy. RevPAR is a better single-number benchmark for comparing markets because it captures how effectively nightly rates convert to realized income. AirROI's city-level reports include RevPAR with percentile breakdowns for deeper analysis.

How many Airbnb listings does a market need to be investable in Panama?

Markets with fewer than 100 active listings can show volatile averages that do not predict future performance. The median market in this Panama ranking has about 57 listings. Larger markets (500+) offer more reliable data, more comparable properties for pricing, and typically a more liquid exit if you decide to sell. Smaller markets can still be profitable, but investors should treat the data as directional rather than precise.

How do seasonal and year-round Airbnb markets differ in Panama?

Seasonal markets in Panama experience dramatic swings in booking demand — often earning 60-70% of annual revenue in just 3-4 peak months. Year-round markets deliver steadier cash flow with lower peak-to-trough variation. Investors who need predictable monthly income should prioritize high-occupancy markets with low seasonal variance, while those comfortable with cash-flow timing can target seasonal markets where peak rates compensate for off-season softness.

About AirROI Market Data

AirROI tracks over 20 million properties across 190+ countries and maintains 15+ years of historical performance data, making it one of the deepest Airbnb and STR intelligence platforms available. The analytics pipeline aggregates listing-level data monthly — revenue, occupancy, nightly rates, RevPAR, guest demographics, booking patterns, and competitive supply — so investors and operators can benchmark any market against its own history and against neighboring destinations.

Real estate investors, property managers, financial institutions, hospitality consultants, and academic researchers rely on AirROI data to underwrite acquisitions, optimize pricing, model macro trends, and conduct peer-reviewed research. Data is available through in-depth market reports, the data portal for bulk downloads, the Airbnb API with 22 endpoints, and an Airbnb MCP Server for AI agents.

All metrics reflect trailing twelve-month aggregates from active listings as of 2026-05-04. Revenue figures are market averages, not projections. For full methodology, see the data methodology page.

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What Other Airbnb Markets Are in Panama?

Bocas del Toro Chiriquí Coclé Coclé Province Colón Colón Province Guna Yala Comarca Herrera Los Santos Los Santos Province Panamá Oeste Panamá Oeste Province Panamá Province Provincia de Bocas del Toro Provincia de Coclé Provincia de Los Santos Provincia de Panamá Provincia de Veraguas Veraguas