Americans, Europeans, Mexicans and Colombians are all looking to the country that holds the world's most important commercial gateway, the Panama Canal, plus Latin America's most important air link.
The combination of the canal for trade and the Tocumé Airport that joins the Americas has attracted investors like Donald Trump.
Now that Panama is sprouting towers all around its capital it has a new challenge, the development of tourism.
The economic and tourism boom has created an inordinate amount of investment in hotels, which is threatening to lower the occupancy rate to unsustainable levels.
The opening of more than 20 hotels has been announced for 2012, adding 6,000 rooms to the inventory offered by Panama, and representing an annual increase of 300% in the hotel supply, while the increase in the number of visitors to the country during 2011 grew by - 13%, which although significant, is far below what would be needed to keep up the hotel occupancy rate, which currently stands at 66%.
Private real-estate investment in Costa Rica is likely to be affected by the lack of regulation and planning of public infrastructure.
San José's real-estate boom has led to healthy profits for the construction industry and private investors.
But the new buildings, as well as those that are still on the drawing board, could be threatened by the lack of plans for the development of public infrastructure.
In Panama, the construction sector is seeing the same high levels of growth that existed before the crisis, however residential properties prices are falling.
Unlike other countries in the region, the effect of the global recession of 2008 on property investment in Panama was not very serious. The slight impact resulted in a small reduction in prices and a decrease in the growth rate of new constructions.
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