This is Punta Pacifica, a luxury enclave in Panama hoping to become the Dubai ... and high-end shopping malls have sprouted across the waterfront, drawing visitors intrigued by this extravagance.

Ranging from $2.2 million to $1.15 million, here are the top five most expensive homes sold in Bay County during February.

Located in Panama City Beach, Florida ... near several outdoor activities and next door to Barefoot Hide-A-Way Grill. The property features an outdoor pool, a whirlpool and a fitness center.

Three Panama City homes and two Panama City Beach homes make up Bay County's five priciest February sales. The most expensive home sold for $2.2 million, a waterfront property on Bunkers Cove Road.