There have been many recent news stories about preconstruction condos in Panama City Beach. While the condo market has made a nice recovery, it is a little premature to forecast another preconstruction boom.
Updated 8/30/2017: As one of the most popular condo complexes in Panama City Beach, Calypso is known for its prime location near Pier Park. Since the real estate market began to rebound in 2011, Calypso has been able to command higher prices, and these units sell for more than similar floor plans in nearby buildings.
The Panama City Beach condo prices rose a healthy 2.3% the first half of this year compared to 2016. Despite the price increases, volume is up 29% compared to the same period last year. All signs point to a very healthy market.
If you are looking for a Panama City Beach condo, loan options may be different than you would expect for a secondary residence. I have written the following article, Condominium loans in Panama City Beach, to explain why. The article's main point is that qualified buyers who put at least 20% down can get a 5-year ARM or a 15-year fixed-rate mortgage. As of February 2017, qualified buyers can expect to get a 5 year arm amortized over 30 years with a rate of roughly 4.5%.
Update: July 2017: Normal condo loans are available at Calypso again.
In October 2016 Calypso was added to the no lend list for the banks that finance condos in Panama City Beach. One of the considerations for providing normal condo loans to gulf front condominiums in Panama City Beach is pending litigation. Any litigation banks feel could severely impact a condominium association can cause condominiums to be added to this list. In October of 2016 the bank that buys the majority of the Panama City Beach condo loans on the secondary market added Calypso to this list.