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

Source: AirROI Reviewed by Jun Zhou , Founder @ AirROI

Updated: 2026-07-06

The short-term rental market in Panama spans 66 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. Panama City, Provincia de Panamá leads by market size with 798 active listings and $973/month revenue. Across all ranked markets, average occupancy is 31.5% with $1,052/month in average revenue and $164/night ADR. 66 of 66 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. Panama City, Provincia de Panamá leads with 798 active short-term rental listings and $973/month in average revenue.

#	Market	Active Listings (TTM)	Revenue/mo	ADR	Occupancy	Regulation
1	Panama City, Provincia de Panamá	798	$973	$113	47.7%	Low
2	Bella Vista, Panamá Province	585	$1,329	$102	48.5%	Low
3	Panamá, Provincia de Panamá	471	$1,736	$129	49.1%	Low
4	Bocas del Toro, Bocas del Toro	464	$1,167	$161	31.7%	Low
5	San Francisco, Panamá Province	314	$1,406	$116	48.1%	Low
6	Distrito San Carlos, Panamá Oeste	267	$1,188	$212	25.8%	Low
7	Alto Boquete, Chiriquí	206	$534	$91	29.5%	Low
8	Calidonia, Panamá Province	202	$755	$78	41.0%	Low
9	Coronado, Panamá Oeste	194	$936	$179	27.0%	Low
10	Punta Chame, Panamá Oeste	189	$831	$152	24.8%	Low
11	Farallon, Coclé	187	$870	$196	23.4%	Low
12	Nueva Gorgona, Panamá Oeste	180	$911	$148	33.0%	Low
13	Bajo Boquete, Chiriquí	164	$994	$125	34.9%	Low
14	El Valle, Coclé	144	$1,054	$164	30.3%	Low
15	Rio Hato, Coclé Province	139	$1,005	$217	25.1%	Low
16	Bastimentos, Bocas del Toro	121	$1,092	$200	27.6%	Low
17	Ancón, Panamá Province	112	$892	$96	41.2%	Low
18	Santa Ana, Panamá Province	110	$1,099	$79	50.6%	Low
19	Maria Chiquita, Colón Province	103	$3,739	$431	34.3%	Low
20	Bocas del Toro Province, Bocas del Toro Province	100	$671	$134	34.1%	Low
21	David, Chiriquí	92	$268	$46	29.6%	Low
22	Río Hato, Provincia de Coclé	87	$1,169	$308	22.4%	Low
23	Veracruz, Panamá Oeste	84	$1,312	$172	35.6%	Low
24	Las Escobas del Venado, Provincia de Los Santos	84	$2,174	$287	35.9%	Low
25	Chame, Panamá Oeste	79	$882	$159	29.1%	Low
26	Los Naranjos, Chiriquí	77	$702	$119	29.5%	Low
27	El Chirú, Coclé Province	75	$1,773	$346	29.3%	Low
28	Playa Venao, Los Santos Province	72	$2,107	$267	34.2%	Low
29	Pedasí, Los Santos	71	$908	$149	30.1%	Low
30	Chame District, Panamá Oeste Province	71	$907	$160	23.9%	Low
31	Saboga, Panamá Province	65	$1,594	$314	28.5%	Low
32	Hicaco, Veraguas	64	$1,013	$116	33.6%	Low
33	Boquete, Chiriquí Province	63	$746	$147	37.2%	Low
34	Distrito de San Carlos, Panamá Oeste	63	$1,171	$173	29.5%	Low
35	El Chorrillo, Panamá Province	55	$1,651	$114	51.7%	Low
36	Las Tablas, Los Santos	53	$191	$103	17.7%	Low
37	Jaramillo, Chiriquí	52	$1,052	$117	38.1%	Low
38	Bethania, Panamá Province	52	$1,008	$92	39.2%	Low
39	Caimitillo, Panamá Province	52	$1,016	$182	23.8%	Low
40	Torio, Provincia de Veraguas	50	$612	$96	28.6%	Low
41	María Chiquita, Colón	48	$1,590	$247	24.0%	Low
42	Las Lajas, Chiriquí	44	$871	$143	30.1%	Low
43	San Blas Islands, Guna Yala Comarca	41	$1,803	$407	28.9%	Low
44	Parque Lefevre, Panamá Province	40	$564	$66	35.3%	Low
45	Cambutal, Los Santos	39	$1,055	$158	31.6%	Low
46	San Carlos District, Panamá Oeste Province	39	$892	$257	25.9%	Low
47	David Sur, Chiriquí	32	$207	$39	25.6%	Low
48	Pueblo Nuevo, Panamá Province	32	$516	$68	35.4%	Low
49	24 de Diciembre, Panamá Province	31	$1,046	$178	24.0%	Low
50	Boca Chica, Chiriquí	30	$1,154	$233	27.2%	Low
51	Bijao, Coclé	30	$714	$201	17.7%	Low
52	Bocas del Toro, Provincia de Bocas del Toro	29	$1,232	$138	29.1%	Low
53	Santa Catalina, Provincia de Veraguas	28	$621	$104	36.5%	Low
54	Portobelo, Colón	27	$797	$170	19.8%	Low
55	Taboga, Panamá Province	26	$1,316	$157	28.4%	Low
56	Playa Coronado, Provincia de Panamá Oeste	26	$1,119	$308	26.1%	Low
57	Cristóbal, Colón	25	$865	$91	34.8%	Low
58	Coloncito, Panamá Oeste	25	$1,090	$203	26.9%	Low
59	Santa Fé, Veraguas	25	$608	$122	25.8%	Low
60	Nueva California, Chiriquí	24	$633	$106	36.4%	Low
61	Penonomé, Coclé	24	$364	$77	21.0%	Low
62	Puerto Lindo, Colón	24	$1,713	$238	27.0%	Low
63	Volcán, Chiriquí	23	$564	$106	28.1%	Low
64	Altos del María, Provincia de Panamá Oeste	23	$1,447	$207	34.8%	Low
65	Tierra Oscura, Bocas del Toro	22	$628	$123	28.2%	Low
66	Arraijan, Provincia de Panamá Oeste	22	$588	$103	38.2%	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. Maria Chiquita, Colón Province leads with $3,739/month at $431 ADR and 34.3% 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	Maria Chiquita, Colón Province	$3,739	103	$431	34.3%	Low
2	Las Escobas del Venado, Provincia de Los Santos	$2,174	84	$287	35.9%	Low
3	Playa Venao, Los Santos Province	$2,107	72	$267	34.2%	Low
4	San Blas Islands, Guna Yala Comarca	$1,803	41	$407	28.9%	Low
5	El Chirú, Coclé Province	$1,773	75	$346	29.3%	Low
6	Panamá, Provincia de Panamá	$1,736	471	$129	49.1%	Low
7	Puerto Lindo, Colón	$1,713	24	$238	27.0%	Low
8	El Chorrillo, Panamá Province	$1,651	55	$114	51.7%	Low
9	Saboga, Panamá Province	$1,594	65	$314	28.5%	Low
10	María Chiquita, Colón	$1,590	48	$247	24.0%	Low
11	Altos del María, Provincia de Panamá Oeste	$1,447	23	$207	34.8%	Low
12	San Francisco, Panamá Province	$1,406	314	$116	48.1%	Low
13	Bella Vista, Panamá Province	$1,329	585	$102	48.5%	Low
14	Taboga, Panamá Province	$1,316	26	$157	28.4%	Low
15	Veracruz, Panamá Oeste	$1,312	84	$172	35.6%	Low
16	Bocas del Toro, Provincia de Bocas del Toro	$1,232	29	$138	29.1%	Low
17	Distrito San Carlos, Panamá Oeste	$1,188	267	$212	25.8%	Low
18	Distrito de San Carlos, Panamá Oeste	$1,171	63	$173	29.5%	Low
19	Río Hato, Provincia de Coclé	$1,169	87	$308	22.4%	Low
20	Bocas del Toro, Bocas del Toro	$1,167	464	$161	31.7%	Low
21	Boca Chica, Chiriquí	$1,154	30	$233	27.2%	Low
22	Playa Coronado, Provincia de Panamá Oeste	$1,119	26	$308	26.1%	Low
23	Santa Ana, Panamá Province	$1,099	110	$79	50.6%	Low
24	Bastimentos, Bocas del Toro	$1,092	121	$200	27.6%	Low
25	Coloncito, Panamá Oeste	$1,090	25	$203	26.9%	Low
26	Cambutal, Los Santos	$1,055	39	$158	31.6%	Low
27	El Valle, Coclé	$1,054	144	$164	30.3%	Low
28	Jaramillo, Chiriquí	$1,052	52	$117	38.1%	Low
29	24 de Diciembre, Panamá Province	$1,046	31	$178	24.0%	Low
30	Caimitillo, Panamá Province	$1,016	52	$182	23.8%	Low
31	Hicaco, Veraguas	$1,013	64	$116	33.6%	Low
32	Bethania, Panamá Province	$1,008	52	$92	39.2%	Low
33	Rio Hato, Coclé Province	$1,005	139	$217	25.1%	Low
34	Bajo Boquete, Chiriquí	$994	164	$125	34.9%	Low
35	Panama City, Provincia de Panamá	$973	798	$113	47.7%	Low
36	Coronado, Panamá Oeste	$936	194	$179	27.0%	Low
37	Nueva Gorgona, Panamá Oeste	$911	180	$148	33.0%	Low
38	Pedasí, Los Santos	$908	71	$149	30.1%	Low
39	Chame District, Panamá Oeste Province	$907	71	$160	23.9%	Low
40	Ancón, Panamá Province	$892	112	$96	41.2%	Low
41	San Carlos District, Panamá Oeste Province	$892	39	$257	25.9%	Low
42	Chame, Panamá Oeste	$882	79	$159	29.1%	Low
43	Las Lajas, Chiriquí	$871	44	$143	30.1%	Low
44	Farallon, Coclé	$870	187	$196	23.4%	Low
45	Cristóbal, Colón	$865	25	$91	34.8%	Low
46	Punta Chame, Panamá Oeste	$831	189	$152	24.8%	Low
47	Portobelo, Colón	$797	27	$170	19.8%	Low
48	Calidonia, Panamá Province	$755	202	$78	41.0%	Low
49	Boquete, Chiriquí Province	$746	63	$147	37.2%	Low
50	Bijao, Coclé	$714	30	$201	17.7%	Low
51	Los Naranjos, Chiriquí	$702	77	$119	29.5%	Low
52	Bocas del Toro Province, Bocas del Toro Province	$671	100	$134	34.1%	Low
53	Nueva California, Chiriquí	$633	24	$106	36.4%	Low
54	Tierra Oscura, Bocas del Toro	$628	22	$123	28.2%	Low
55	Santa Catalina, Provincia de Veraguas	$621	28	$104	36.5%	Low
56	Torio, Provincia de Veraguas	$612	50	$96	28.6%	Low
57	Santa Fé, Veraguas	$608	25	$122	25.8%	Low
58	Arraijan, Provincia de Panamá Oeste	$588	22	$103	38.2%	Low
59	Volcán, Chiriquí	$564	23	$106	28.1%	Low
60	Parque Lefevre, Panamá Province	$564	40	$66	35.3%	Low
61	Alto Boquete, Chiriquí	$534	206	$91	29.5%	Low
62	Pueblo Nuevo, Panamá Province	$516	32	$68	35.4%	Low
63	Penonomé, Coclé	$364	24	$77	21.0%	Low
64	David, Chiriquí	$268	92	$46	29.6%	Low
65	David Sur, Chiriquí	$207	32	$39	25.6%	Low
66	Las Tablas, Los Santos	$191	53	$103	17.7%	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. Maria Chiquita, Colón Province commands the highest Airbnb nightly rate in Panama at $431/night, generating $3,739/month at 34.3% 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	Maria Chiquita, Colón Province	$431	103	$3,739	34.3%	Low
2	San Blas Islands, Guna Yala Comarca	$407	41	$1,803	28.9%	Low
3	El Chirú, Coclé Province	$346	75	$1,773	29.3%	Low
4	Saboga, Panamá Province	$314	65	$1,594	28.5%	Low
5	Playa Coronado, Provincia de Panamá Oeste	$308	26	$1,119	26.1%	Low
6	Río Hato, Provincia de Coclé	$308	87	$1,169	22.4%	Low
7	Las Escobas del Venado, Provincia de Los Santos	$287	84	$2,174	35.9%	Low
8	Playa Venao, Los Santos Province	$267	72	$2,107	34.2%	Low
9	San Carlos District, Panamá Oeste Province	$257	39	$892	25.9%	Low
10	María Chiquita, Colón	$247	48	$1,590	24.0%	Low
11	Puerto Lindo, Colón	$238	24	$1,713	27.0%	Low
12	Boca Chica, Chiriquí	$233	30	$1,154	27.2%	Low
13	Rio Hato, Coclé Province	$217	139	$1,005	25.1%	Low
14	Distrito San Carlos, Panamá Oeste	$212	267	$1,188	25.8%	Low
15	Altos del María, Provincia de Panamá Oeste	$207	23	$1,447	34.8%	Low
16	Coloncito, Panamá Oeste	$203	25	$1,090	26.9%	Low
17	Bijao, Coclé	$201	30	$714	17.7%	Low
18	Bastimentos, Bocas del Toro	$200	121	$1,092	27.6%	Low
19	Farallon, Coclé	$196	187	$870	23.4%	Low
20	Caimitillo, Panamá Province	$182	52	$1,016	23.8%	Low
21	Coronado, Panamá Oeste	$179	194	$936	27.0%	Low
22	24 de Diciembre, Panamá Province	$178	31	$1,046	24.0%	Low
23	Distrito de San Carlos, Panamá Oeste	$173	63	$1,171	29.5%	Low
24	Veracruz, Panamá Oeste	$172	84	$1,312	35.6%	Low
25	Portobelo, Colón	$170	27	$797	19.8%	Low
26	El Valle, Coclé	$164	144	$1,054	30.3%	Low
27	Bocas del Toro, Bocas del Toro	$161	464	$1,167	31.7%	Low
28	Chame District, Panamá Oeste Province	$160	71	$907	23.9%	Low
29	Chame, Panamá Oeste	$159	79	$882	29.1%	Low
30	Cambutal, Los Santos	$158	39	$1,055	31.6%	Low
31	Taboga, Panamá Province	$157	26	$1,316	28.4%	Low
32	Punta Chame, Panamá Oeste	$152	189	$831	24.8%	Low
33	Pedasí, Los Santos	$149	71	$908	30.1%	Low
34	Nueva Gorgona, Panamá Oeste	$148	180	$911	33.0%	Low
35	Boquete, Chiriquí Province	$147	63	$746	37.2%	Low
36	Las Lajas, Chiriquí	$143	44	$871	30.1%	Low
37	Bocas del Toro, Provincia de Bocas del Toro	$138	29	$1,232	29.1%	Low
38	Bocas del Toro Province, Bocas del Toro Province	$134	100	$671	34.1%	Low
39	Panamá, Provincia de Panamá	$129	471	$1,736	49.1%	Low
40	Bajo Boquete, Chiriquí	$125	164	$994	34.9%	Low
41	Tierra Oscura, Bocas del Toro	$123	22	$628	28.2%	Low
42	Santa Fé, Veraguas	$122	25	$608	25.8%	Low
43	Los Naranjos, Chiriquí	$119	77	$702	29.5%	Low
44	Jaramillo, Chiriquí	$117	52	$1,052	38.1%	Low
45	Hicaco, Veraguas	$116	64	$1,013	33.6%	Low
46	San Francisco, Panamá Province	$116	314	$1,406	48.1%	Low
47	El Chorrillo, Panamá Province	$114	55	$1,651	51.7%	Low
48	Panama City, Provincia de Panamá	$113	798	$973	47.7%	Low
49	Volcán, Chiriquí	$106	23	$564	28.1%	Low
50	Nueva California, Chiriquí	$106	24	$633	36.4%	Low
51	Santa Catalina, Provincia de Veraguas	$104	28	$621	36.5%	Low
52	Arraijan, Provincia de Panamá Oeste	$103	22	$588	38.2%	Low
53	Las Tablas, Los Santos	$103	53	$191	17.7%	Low
54	Bella Vista, Panamá Province	$102	585	$1,329	48.5%	Low
55	Torio, Provincia de Veraguas	$96	50	$612	28.6%	Low
56	Ancón, Panamá Province	$96	112	$892	41.2%	Low
57	Bethania, Panamá Province	$92	52	$1,008	39.2%	Low
58	Cristóbal, Colón	$91	25	$865	34.8%	Low
59	Alto Boquete, Chiriquí	$91	206	$534	29.5%	Low
60	Santa Ana, Panamá Province	$79	110	$1,099	50.6%	Low
61	Calidonia, Panamá Province	$78	202	$755	41.0%	Low
62	Penonomé, Coclé	$77	24	$364	21.0%	Low
63	Pueblo Nuevo, Panamá Province	$68	32	$516	35.4%	Low
64	Parque Lefevre, Panamá Province	$66	40	$564	35.3%	Low
65	David, Chiriquí	$46	92	$268	29.6%	Low
66	David Sur, Chiriquí	$39	32	$207	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 49.1% occupancy, $1,736/month revenue, and 471 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	49.1%	471	$1,736	$129	Low
2	Bella Vista, Panamá Province	48.5%	585	$1,329	$102	Low
3	San Francisco, Panamá Province	48.1%	314	$1,406	$116	Low
4	Panama City, Provincia de Panamá	47.7%	798	$973	$113	Low
5	Bocas del Toro, Bocas del Toro	31.7%	464	$1,167	$161	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 66 markets ranked on this page: 66 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?

Panama City, Provincia de Panamá leads this ranking for Panama with 798 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?

Maria Chiquita, Colón Province posts the highest average monthly revenue in this ranking at $3,739. 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 51.7%. 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?

Panama City (Provincia de Panamá), Bella Vista (Panamá Province), 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 31.5% occupancy, and the top performer posts $3,739 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 31.5%. 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, 66 of 66 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 63 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 2026-07-06. Revenue figures are market averages, not projections. For full methodology, see the data methodology page.

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