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

Source: AirROI Reviewed by Jun Zhou , Founder @ AirROI

Updated: 2026-04-08

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 644 active listings and $1,255/month revenue. Across all ranked markets, average occupancy is 31.4% with $1,144/month in average revenue and $166/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 644 active short-term rental listings and $1,255/month in average revenue.

#	Market	Active Listings (TTM)	Revenue/mo	ADR	Occupancy	Regulation
1	Bella Vista, Panamá Province	644	$1,255	$100	47.6%	Low
2	Bocas del Toro, Bocas del Toro	484	$1,126	$160	32.1%	Low
3	Panamá, Provincia de Panamá	474	$1,646	$126	49.4%	Low
4	San Francisco, Panamá Province	347	$1,370	$117	48.0%	Low
5	Distrito San Carlos, Panamá Oeste	289	$1,101	$201	25.1%	Low
6	Calidonia, Panamá Province	222	$718	$78	41.1%	Low
7	Coronado, Panamá Oeste	215	$894	$181	25.9%	Low
8	Farallon, Coclé	192	$772	$193	21.2%	Low
9	Bajo Boquete, Chiriquí	175	$1,006	$121	35.4%	Low
10	Nueva Gorgona, Panamá Oeste	166	$866	$136	32.8%	Low
11	Alto Boquete, Chiriquí	162	$567	$94	29.6%	Low
12	Punta Chame, Panamá Oeste	147	$850	$154	23.5%	Low
13	Panama City, Provincia de Panamá	129	$1,733	$129	49.8%	Low
14	El Valle, Coclé	126	$1,109	$169	32.2%	Low
15	Ancón, Panamá Province	119	$886	$94	40.2%	Low
16	Santa Ana, Panamá Province	115	$1,071	$75	50.8%	Low
17	Bastimentos, Bocas del Toro	102	$1,103	$198	26.9%	Low
18	Rio Hato, Coclé Province	102	$1,094	$233	22.9%	Low
19	Veracruz, Panamá Oeste	85	$1,284	$169	36.3%	Low
20	Río Hato, Provincia de Coclé	75	$1,246	$313	21.8%	Low
21	Distrito de San Carlos, Panamá Oeste	72	$1,054	$172	27.5%	Low
22	Los Naranjos, Chiriquí	71	$736	$116	28.5%	Low
23	Chame District, Panamá Oeste Province	71	$909	$158	24.5%	Low
24	Las Escobas del Venado, Provincia de Los Santos	70	$2,404	$284	37.1%	Low
25	Playa Venao, Los Santos Province	68	$2,100	$270	33.3%	Low
26	Maria Chiquita, Colón Province	67	$4,441	$416	36.5%	Low
27	David, Chiriquí	65	$254	$42	28.0%	Low
28	El Chirú, Coclé Province	65	$1,939	$360	27.8%	Low
29	Hicaco, Veraguas	65	$975	$115	33.4%	Low
30	Pedasí, Los Santos	61	$935	$159	31.1%	Low
31	Saboga, Panamá Province	58	$1,594	$349	26.1%	Low
32	El Chorrillo, Panamá Province	57	$1,607	$111	52.3%	Low
33	Bethania, Panamá Province	55	$966	$91	41.1%	Low
34	María Chiquita, Colón	54	$1,570	$249	22.9%	Low
35	Chame, Panamá Oeste	53	$1,018	$164	29.2%	Low
36	Caimitillo, Panamá Province	51	$1,031	$178	27.2%	Low
37	Parque Lefevre, Panamá Province	44	$546	$62	36.3%	Low
38	Torio, Provincia de Veraguas	43	$657	$97	27.2%	Low
39	Jaramillo, Chiriquí	41	$1,067	$123	33.3%	Low
40	Las Tablas, Los Santos	39	$178	$97	16.8%	Low
41	Cambutal, Los Santos	37	$894	$154	31.6%	Low
42	Las Lajas, Chiriquí	36	$976	$155	28.2%	Low
43	Pueblo Nuevo, Panamá Province	35	$535	$67	34.9%	Low
44	David Sur, Chiriquí	32	$216	$39	25.7%	Low
45	San Blas Islands, Guna Yala Comarca	32	$1,746	$415	26.3%	Low
46	24 de Diciembre, Panamá Province	32	$1,076	$168	23.7%	Low
47	Bijao, Coclé	30	$693	$204	16.4%	Low
48	Bocas del Toro, Provincia de Bocas del Toro	29	$1,001	$132	28.7%	Low
49	Boca Chica, Chiriquí	28	$1,120	$224	26.8%	Low
50	Cristóbal, Colón	27	$814	$88	37.3%	Low
51	Taboga, Panamá Province	27	$1,309	$166	27.3%	Low
52	Puerto Lindo, Colón	25	$1,693	$230	26.2%	Low
53	Coloncito, Panamá Oeste	24	$1,097	$195	26.2%	Low
54	Tierra Oscura, Bocas del Toro	23	$602	$121	28.6%	Low
55	Nueva California, Chiriquí	23	$631	$107	33.9%	Low
56	Portobelo, Colón	23	$770	$169	19.7%	Low
57	Volcán, Chiriquí	22	$553	$107	29.0%	Low
58	Buenaventura, Coclé	21	$4,365	$461	32.8%	Low
59	Chitré, Herrera	21	$224	$84	17.6%	Low
60	Don Bosco, Panamá Province	20	$663	$54	46.0%	Low
61	Altos del Maria, Provincia de Panamá Oeste	19	$1,652	$179	35.7%	Low
62	Juan Díaz, Panamá Province	18	$644	$91	33.6%	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 $4,441/month at $416 ADR and 36.5% 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	$4,441	67	$416	36.5%	Low
2	Buenaventura, Coclé	$4,365	21	$461	32.8%	Low
3	Las Escobas del Venado, Provincia de Los Santos	$2,404	70	$284	37.1%	Low
4	Playa Venao, Los Santos Province	$2,100	68	$270	33.3%	Low
5	El Chirú, Coclé Province	$1,939	65	$360	27.8%	Low
6	San Blas Islands, Guna Yala Comarca	$1,746	32	$415	26.3%	Low
7	Panama City, Provincia de Panamá	$1,733	129	$129	49.8%	Low
8	Puerto Lindo, Colón	$1,693	25	$230	26.2%	Low
9	Altos del Maria, Provincia de Panamá Oeste	$1,652	19	$179	35.7%	Low
10	Panamá, Provincia de Panamá	$1,646	474	$126	49.4%	Low
11	El Chorrillo, Panamá Province	$1,607	57	$111	52.3%	Low
12	Saboga, Panamá Province	$1,594	58	$349	26.1%	Low
13	María Chiquita, Colón	$1,570	54	$249	22.9%	Low
14	San Francisco, Panamá Province	$1,370	347	$117	48.0%	Low
15	Taboga, Panamá Province	$1,309	27	$166	27.3%	Low
16	Veracruz, Panamá Oeste	$1,284	85	$169	36.3%	Low
17	Bella Vista, Panamá Province	$1,255	644	$100	47.6%	Low
18	Río Hato, Provincia de Coclé	$1,246	75	$313	21.8%	Low
19	Bocas del Toro, Bocas del Toro	$1,126	484	$160	32.1%	Low
20	Boca Chica, Chiriquí	$1,120	28	$224	26.8%	Low
21	El Valle, Coclé	$1,109	126	$169	32.2%	Low
22	Bastimentos, Bocas del Toro	$1,103	102	$198	26.9%	Low
23	Distrito San Carlos, Panamá Oeste	$1,101	289	$201	25.1%	Low
24	Coloncito, Panamá Oeste	$1,097	24	$195	26.2%	Low
25	Rio Hato, Coclé Province	$1,094	102	$233	22.9%	Low
26	24 de Diciembre, Panamá Province	$1,076	32	$168	23.7%	Low
27	Santa Ana, Panamá Province	$1,071	115	$75	50.8%	Low
28	Jaramillo, Chiriquí	$1,067	41	$123	33.3%	Low
29	Distrito de San Carlos, Panamá Oeste	$1,054	72	$172	27.5%	Low
30	Caimitillo, Panamá Province	$1,031	51	$178	27.2%	Low
31	Chame, Panamá Oeste	$1,018	53	$164	29.2%	Low
32	Bajo Boquete, Chiriquí	$1,006	175	$121	35.4%	Low
33	Bocas del Toro, Provincia de Bocas del Toro	$1,001	29	$132	28.7%	Low
34	Las Lajas, Chiriquí	$976	36	$155	28.2%	Low
35	Hicaco, Veraguas	$975	65	$115	33.4%	Low
36	Bethania, Panamá Province	$966	55	$91	41.1%	Low
37	Pedasí, Los Santos	$935	61	$159	31.1%	Low
38	Chame District, Panamá Oeste Province	$909	71	$158	24.5%	Low
39	Cambutal, Los Santos	$894	37	$154	31.6%	Low
40	Coronado, Panamá Oeste	$894	215	$181	25.9%	Low
41	Ancón, Panamá Province	$886	119	$94	40.2%	Low
42	Nueva Gorgona, Panamá Oeste	$866	166	$136	32.8%	Low
43	Punta Chame, Panamá Oeste	$850	147	$154	23.5%	Low
44	Cristóbal, Colón	$814	27	$88	37.3%	Low
45	Farallon, Coclé	$772	192	$193	21.2%	Low
46	Portobelo, Colón	$770	23	$169	19.7%	Low
47	Los Naranjos, Chiriquí	$736	71	$116	28.5%	Low
48	Calidonia, Panamá Province	$718	222	$78	41.1%	Low
49	Bijao, Coclé	$693	30	$204	16.4%	Low
50	Don Bosco, Panamá Province	$663	20	$54	46.0%	Low
51	Torio, Provincia de Veraguas	$657	43	$97	27.2%	Low
52	Juan Díaz, Panamá Province	$644	18	$91	33.6%	Low
53	Nueva California, Chiriquí	$631	23	$107	33.9%	Low
54	Tierra Oscura, Bocas del Toro	$602	23	$121	28.6%	Low
55	Alto Boquete, Chiriquí	$567	162	$94	29.6%	Low
56	Volcán, Chiriquí	$553	22	$107	29.0%	Low
57	Parque Lefevre, Panamá Province	$546	44	$62	36.3%	Low
58	Pueblo Nuevo, Panamá Province	$535	35	$67	34.9%	Low
59	David, Chiriquí	$254	65	$42	28.0%	Low
60	Chitré, Herrera	$224	21	$84	17.6%	Low
61	David Sur, Chiriquí	$216	32	$39	25.7%	Low
62	Las Tablas, Los Santos	$178	39	$97	16.8%	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 $461/night, generating $4,365/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	$461	21	$4,365	32.8%	Low
2	Maria Chiquita, Colón Province	$416	67	$4,441	36.5%	Low
3	San Blas Islands, Guna Yala Comarca	$415	32	$1,746	26.3%	Low
4	El Chirú, Coclé Province	$360	65	$1,939	27.8%	Low
5	Saboga, Panamá Province	$349	58	$1,594	26.1%	Low
6	Río Hato, Provincia de Coclé	$313	75	$1,246	21.8%	Low
7	Las Escobas del Venado, Provincia de Los Santos	$284	70	$2,404	37.1%	Low
8	Playa Venao, Los Santos Province	$270	68	$2,100	33.3%	Low
9	María Chiquita, Colón	$249	54	$1,570	22.9%	Low
10	Rio Hato, Coclé Province	$233	102	$1,094	22.9%	Low
11	Puerto Lindo, Colón	$230	25	$1,693	26.2%	Low
12	Boca Chica, Chiriquí	$224	28	$1,120	26.8%	Low
13	Bijao, Coclé	$204	30	$693	16.4%	Low
14	Distrito San Carlos, Panamá Oeste	$201	289	$1,101	25.1%	Low
15	Bastimentos, Bocas del Toro	$198	102	$1,103	26.9%	Low
16	Coloncito, Panamá Oeste	$195	24	$1,097	26.2%	Low
17	Farallon, Coclé	$193	192	$772	21.2%	Low
18	Coronado, Panamá Oeste	$181	215	$894	25.9%	Low
19	Altos del Maria, Provincia de Panamá Oeste	$179	19	$1,652	35.7%	Low
20	Caimitillo, Panamá Province	$178	51	$1,031	27.2%	Low
21	Distrito de San Carlos, Panamá Oeste	$172	72	$1,054	27.5%	Low
22	El Valle, Coclé	$169	126	$1,109	32.2%	Low
23	Portobelo, Colón	$169	23	$770	19.7%	Low
24	Veracruz, Panamá Oeste	$169	85	$1,284	36.3%	Low
25	24 de Diciembre, Panamá Province	$168	32	$1,076	23.7%	Low
26	Taboga, Panamá Province	$166	27	$1,309	27.3%	Low
27	Chame, Panamá Oeste	$164	53	$1,018	29.2%	Low
28	Bocas del Toro, Bocas del Toro	$160	484	$1,126	32.1%	Low
29	Pedasí, Los Santos	$159	61	$935	31.1%	Low
30	Chame District, Panamá Oeste Province	$158	71	$909	24.5%	Low
31	Las Lajas, Chiriquí	$155	36	$976	28.2%	Low
32	Punta Chame, Panamá Oeste	$154	147	$850	23.5%	Low
33	Cambutal, Los Santos	$154	37	$894	31.6%	Low
34	Nueva Gorgona, Panamá Oeste	$136	166	$866	32.8%	Low
35	Bocas del Toro, Provincia de Bocas del Toro	$132	29	$1,001	28.7%	Low
36	Panama City, Provincia de Panamá	$129	129	$1,733	49.8%	Low
37	Panamá, Provincia de Panamá	$126	474	$1,646	49.4%	Low
38	Jaramillo, Chiriquí	$123	41	$1,067	33.3%	Low
39	Tierra Oscura, Bocas del Toro	$121	23	$602	28.6%	Low
40	Bajo Boquete, Chiriquí	$121	175	$1,006	35.4%	Low
41	San Francisco, Panamá Province	$117	347	$1,370	48.0%	Low
42	Los Naranjos, Chiriquí	$116	71	$736	28.5%	Low
43	Hicaco, Veraguas	$115	65	$975	33.4%	Low
44	El Chorrillo, Panamá Province	$111	57	$1,607	52.3%	Low
45	Nueva California, Chiriquí	$107	23	$631	33.9%	Low
46	Volcán, Chiriquí	$107	22	$553	29.0%	Low
47	Bella Vista, Panamá Province	$100	644	$1,255	47.6%	Low
48	Torio, Provincia de Veraguas	$97	43	$657	27.2%	Low
49	Las Tablas, Los Santos	$97	39	$178	16.8%	Low
50	Alto Boquete, Chiriquí	$94	162	$567	29.6%	Low
51	Ancón, Panamá Province	$94	119	$886	40.2%	Low
52	Juan Díaz, Panamá Province	$91	18	$644	33.6%	Low
53	Bethania, Panamá Province	$91	55	$966	41.1%	Low
54	Cristóbal, Colón	$88	27	$814	37.3%	Low
55	Chitré, Herrera	$84	21	$224	17.6%	Low
56	Calidonia, Panamá Province	$78	222	$718	41.1%	Low
57	Santa Ana, Panamá Province	$75	115	$1,071	50.8%	Low
58	Pueblo Nuevo, Panamá Province	$67	35	$535	34.9%	Low
59	Parque Lefevre, Panamá Province	$62	44	$546	36.3%	Low
60	Don Bosco, Panamá Province	$54	20	$663	46.0%	Low
61	David, Chiriquí	$42	65	$254	28.0%	Low
62	David Sur, Chiriquí	$39	32	$216	25.7%	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 49.4% occupancy, $1,646/month revenue, and 474 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	49.4%	474	$1,646	$126	Low
2	San Francisco, Panamá Province	48.0%	347	$1,370	$117	Low
3	Bella Vista, Panamá Province	47.6%	644	$1,255	$100	Low
4	Bocas del Toro, Bocas del Toro	32.1%	484	$1,126	$160	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 644 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 $4,441. 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 52.3%. 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 market has the highest Airbnb nightly rate in Panama?

Buenaventura, Coclé commands the highest average daily rate at $461 per night. A high ADR does not automatically translate to the highest revenue — occupancy and seasonality determine how much of that rate converts to realized income.

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 31.4% occupancy, and the top performer posts $4,441 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 31.4%. 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 58 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 2026-04-08. Revenue figures are market averages, not projections. For full methodology, see the data methodology page.

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