Panama City Beach Florida is a popular tourist destination for the Southern United States and the Midwest. Once you put your toes in the sand you will understand why the Panama City Beach slogan is “The World’s Most Beautiful Beaches”. In the early 2000’s, high-rise construction transformed the city. At the peak of the real estate boom, many beachfront properties had quadrupled or more in value since 2000. In November 2006 CNN/Money named Panama City Beach the No. 1 real estate market in America. Beachfront property has sold for upwards of $60,000 per “beachfront foot” at the top of the market.