Why More Americans Are Looking Beyond U.S. Borders for Real Estate Investments
For many investors, diversification means spreading money across stocks, bonds, or sectors of the economy.
But what if true diversification goes beyond asset classes — and even beyond borders?
That’s exactly the conversation I recently had on Pending & Trending with Steve Luther, founder of CHORD Real Estate and a long-time investor who has spent more than two decades building a real estate portfolio across the United States.
Today, he’s helping American investors explore something many people have never seriously considered: international real estate investing.
And one destination in particular keeps rising to the top of the list: Panama.
But the path that brought Steve there wasn’t just about numbers or spreadsheets. It was shaped by something far more personal.
When a Health Crisis Changes How You See the World
Steve has been investing in real estate for more than 25 years and operating as a broker for nearly as long. Like many experienced investors, he and his wife Ashley had already begun exploring international property ownership.
Their original plan was simple: purchase a home somewhere in the Caribbean.
They had even narrowed their search to destinations like St. Lucia and Grenada.
But in late 2021, everything changed.
Steve became severely ill with COVID-19, developing pneumonia and spending four and a half months on a ventilator in the hospital. At one point, he was even pronounced brain dead for several days before ultimately recovering.
Experiences like that tend to shift perspective.
For Steve and Ashley, it reframed how they thought about global real estate — especially when it came to something many investors overlook: healthcare infrastructure.
They realized that if a serious medical emergency had happened while they were on a small island, the outcome might have been very different.
That realization led them to search for a place that could offer both:
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The lifestyle they loved about tropical destinations
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A modern, reliable healthcare system
That search ultimately led them to Panama.
Why Panama Stands Out for International Real Estate Investors
When Americans think about buying property abroad, Panama isn’t always the first country that comes to mind.
But it should be.
Panama has quietly become one of the most attractive international destinations for both lifestyle buyers and real estate investors.
One major reason is its advanced healthcare system.
Panama City is home to world-class medical facilities, including hospitals affiliated with institutions like Johns Hopkins and the Mayo Clinic. The country has also become a hub for medical tourism, with billions of dollars being invested into new medical infrastructure.
For investors who want a tropical environment but also value modern services and stability, Panama checks a lot of boxes.
But healthcare is only one piece of the story.
International Diversification: The Strategy Many Americans Overlook
Most investors understand diversification within a single economy.
For example:
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Stocks
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Bonds
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Cash
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Real estate
But these assets are still tied to one country, one government, and one economic system.
International real estate introduces an entirely different layer of diversification.
By holding assets in multiple countries, investors gain exposure to:
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Different currencies
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Different economic cycles
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Different tax environments
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Different regulatory systems
This approach is actually very common in other parts of the world.
In Europe, for example, it’s not unusual for wealthy individuals to own property in three or four different countries.
Americans are only beginning to explore this strategy.
For Steve, the philosophy is simple:
Owning assets in multiple countries is a form of long-term risk management.
The Lifestyle Advantage of Global Property Ownership
While diversification is important, lifestyle is often what first sparks people’s interest in international property ownership.
Many investors want a place they can actually enjoy.
Steve and Ashley’s long-term vision is something that sounds increasingly appealing today: owning homes on multiple continents that can serve as travel bases.
Imagine:
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Spending time in Panama during the winter
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Traveling through Europe from a home base in Greece
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Exploring Asia from a property in Thailand or Japan
The goal isn’t just investment returns.
It’s flexibility, freedom, and optionality.
Can International Real Estate Lead to Residency?
Another major advantage of investing overseas is the possibility of residency — and sometimes citizenship.
Many countries offer residency-by-investment programs.
Panama is one of the more accessible examples.
Through Panama’s Friendly Nations Visa program, investors who purchase $300,000 or more in real estate may qualify for permanent residency.
After five years, they may even apply for citizenship.
For remote workers, retirees, or globally minded entrepreneurs, having residency in another country can open up entirely new lifestyle possibilities.
Some investors refer to this as a “Plan B” strategy.
Not necessarily because they plan to leave the United States — but because having options can be incredibly valuable.
Short-Term Rentals and International Cash Flow
For many investors, the next question is simple:
What happens to the property when you’re not using it?
In many international markets, the answer is short-term rentals.
Owners may spend a few weeks or months enjoying the property themselves and then rent it out for the remainder of the year.
This approach allows the property to:
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Generate income
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Offset ownership costs
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Potentially appreciate in value over time
Some investors focus primarily on rental returns, while others view international real estate more as a lifestyle investment.
Either way, it adds another dimension to a portfolio.
Why Panama’s Economic Position Makes It Unique
Beyond lifestyle and residency benefits, Panama also has strong economic fundamentals.
The country sits at the crossroads of global trade thanks to the Panama Canal, which connects the Atlantic and Pacific Oceans.
As a result, Panama City has evolved into a major hub for:
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International banking
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Corporate headquarters
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Global logistics
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Financial services
Hundreds of multinational companies operate there, creating a steady demand for housing and rentals.
In many ways, Panama today resembles cities like Singapore or Miami decades ago — before those markets became incredibly expensive.
For investors who recognize early-stage growth opportunities, that’s exactly what makes Panama so compelling.
Exploring Panama: The Invest Panama Summit
For investors who want to explore the opportunity firsthand, Steve and his team host educational events designed to give people a deeper look at the market.
One of those opportunities is the Invest Panama Summit, where investors can travel to Panama City and meet with:
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Local real estate professionals
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Developers
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Attorneys
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Property management companies
Participants tour new developments, explore different neighborhoods, and even visit nearby coastal areas to understand the full range of investment opportunities.
Before the event, Steve also hosts an online webinar that walks through the basics of investing in Panama.
For many people, it’s the first step in deciding whether international real estate might be part of their long-term strategy.
The Bigger Picture: Thinking Beyond Borders
One of the things I love about conversations like this is that they expand how we think about wealth building.
Real estate has always been a powerful tool for creating financial stability.
But as the world becomes more connected — and more people work remotely — the possibilities for where and how we invest are expanding as well.
For some investors, international real estate may never be part of their plan.
But for others, it could become one of the most interesting and rewarding pieces of their portfolio.
Because sometimes the best opportunities aren’t just in the next neighborhood or the next city.
Sometimes they’re across the ocean.
If this conversation sparked your curiosity about international real estate or global diversification, it may be worth exploring further.
And as always, I love bringing these kinds of conversations to Pending & Trending — because when we expand the way we think about investing, we expand what’s possible.
Together, we unlock possibilities.
Deidre Quinn
Host, Pending & Trending
The Deidre Quinn Team | eXp Realty
