Bayfront
The Cinta Costera promenade is steps away
From ~$150K
Large apartments in established towers
1970s
When large-scale building began here
$0
Agent commission paid by buyers
Living in Marbella
Central and calm, with the bay at the end of the street
In short: Marbella is a central, established apartment neighbourhood between the banking district and the bay. October 2026 asking prices start around $150,000 for a large apartment in an older tower and around $155,000 for a new compact unit, with the Cinta Costera a short walk away.
It lies between Calle 50 and Avenida Balboa, with Calle 53 and Calle Aquilino de la Guardia running through it. Its neighbours are Obarrio across Calle 50, Campo Alegre and Bella Vista to the west and Punta Paitilla to the east.
Marbella is quieter than Obarrio despite being just as central, with tree-lined streets and mostly older apartment buildings. The housing mixes spacious 1980s and 1990s towers with 130 to 280 m² units, office towers along Calle 53, new compact residential towers and branded projects facing the bay on Avenida Balboa. Detached houses are rare.
Marbella Listings
Below are our current listings in Marbella, from established towers to new pre-construction units. If you don’t see the right one, tell us your budget and must-haves and we’ll search the whole neighbourhood for you, including properties not yet advertised. Start the Buying Process →
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Around the Neighbourhood
Everything Marbella residents use day to day is within a few blocks.
GREEN SPACE
Cinta Costera
The bayfront park and promenade, with walking and cycling paths and sports courts, is the neighbourhood’s back garden.
GETTING AROUND
Avenida Balboa
The bayfront avenue links Marbella west to Bella Vista and Casco Viejo, and east to Punta Paitilla and the Corredor Sur.
WORK & BUSINESS
Calle 53
The World Trade Center Panama and the banking towers on Calle Aquilino de la Guardia make Marbella part of the office core.
WORK & BUSINESS
Calle 50
Marbella’s northern edge puts the Calle 50 banking district and the F&F Tower a short walk away, with Obarrio beyond.
LANDMARK
Bayfront Towers
The twin diagonal Los Delfines towers, built in 1992, are among the buildings that define Marbella’s skyline on Avenida Balboa.
EVERYDAY
Shops and Services
Supermarkets, pharmacies, banks, clinics and cafés are spread through the neighbourhood.
Is Marbella Right for You?
A quick, honest guide to who tends to love it and who might be happier elsewhere.
A Great Fit For
Buyers who want space in a central apartment
Walkers, runners and cyclists who want the Cinta Costera nearby
Retirees and families after a calmer central setting
Professionals working on Calle 50 or Calle 53
Investors looking at new small units
Think Twice If
You want a house or a garden
You need the Metro at the door (Line 1 is a 10–15 minute walk)
You are wary of maintenance costs in older towers
You need a guaranteed view
Renting It Out
Long-term tenants include people working in the Calle 50 and Calle 53 office towers, plus families and retirees who like the Cinta Costera. Furnished, renovated units in well-run buildings let more easily than tired older stock. We pull current comparable rents before you buy.
What Apartments Cost in Marbella
Based on about 40 advertised asking prices in October 2026, not closed sales. Building age and the view set most prices here.
Large apartments in older towers
Two and three bedrooms, 110 to 280 m²
From about $150,000
About $1,250–$1,700 per m²
New one- and two-bedrooms
35 to 102 m² in new towers
From about $155,000
About $3,400–$4,500 per m²
Premium and bay-view homes
Three bedrooms or more, or branded towers
About $450,000–$675,000
Varies widely by building
What Drives the Price
Age. Older towers with very large layouts sell for a fraction of new-build prices per m², among the best value in central Panama City.
The view. An open bay view over the Cinta Costera and a position close to Avenida Balboa add a premium.
The building. Maintenance fees, the reserve fund and parking all count. Branded and hotel-licensed projects price at the top.
Buying Tips for Marbella
What we check with buyers here before they make an offer.
Look Beyond the Lobby
In older towers, ask for the financial statements, reserve fund and recent assessments, and inspect lifts, pumps and plumbing.
Check the Lot Next Door
A bay or city view can disappear when a neighbouring lot is built on. Look at vacant lots and approved projects nearby.
Understand Hotel-Licensed Units
Some new units are sold as hotel-licensed investments, with management contracts, fees and rules unlike a standard apartment.
Confirm Short-Stay Rules
If you plan short-term rentals, confirm in writing that the building regulations allow them.
Check Parking and Access
Older buildings may have fewer or tandem spaces. Confirm what parking is titled with the unit.
Visit at Different Times
Streets near Calle 50, Calle 53 and Avenida Balboa can be noisy at peak hours. Check from the unit itself.
How Marbella Grew
From a quiet corner of Bella Vista to a central residential and office district.
1930
Part of Bella Vista
A 1930 mayoral decree created the Bella Vista corregimiento, which today includes Marbella.
1970s
Building Begins
Residential and commercial building took off after the 1970 banking law created the banking centre in Marbella, Obarrio and Campo Alegre.
1982
A Banking Landmark
The former Chase Manhattan Bank headquarters on Calle Aquilino de la Guardia, designed by Skidmore, Owings & Merrill, was built.
1992
Bayfront Towers
The two diagonal Los Delfines towers went up on Avenida Balboa.
2009
The Cinta Costera
The Cinta Costera project remodelled Avenida Balboa and added a bayfront park along Marbella’s southern edge.
Costs to Budget For
Plan for these on top of the purchase price.
HOA Fees
Monthly, and they vary widely with the building and its amenities. Ask for the current fee and the reserve fund balance.
Legal Fees
About 1% to 1.5% of the price for your independent attorney, plus small notary and Public Registry fees.
Property Tax
Annual, based on the registered value, with an exemption for a registered primary residence up to a set value.
Transfer Tax
Panama’s 2% transfer tax is customarily paid by the seller. Buyers pay no agent commission.
Marbella Real Estate FAQ
Where is Marbella?
In central Panama City, within the Bella Vista corregimiento, between Calle 50 and Avenida Balboa, next to Obarrio and Punta Paitilla.
How much does an apartment in Marbella cost?
October 2026 asking prices started around $150,000 for a large older apartment and around $155,000 for a small new one-bedroom. Premium and bay-view homes asked about $450,000–$675,000.
Is Marbella safe?
It is an established residential and office area. Most buildings have doormen and security, and the Cinta Costera is busy with walkers and runners. Ordinary big-city precautions apply at night.
How far is Marbella from Casco Viejo?
About a 10-minute drive in light traffic along Avenida Balboa and the Cinta Costera.
Is Marbella good for rentals?
Long-term demand from office workers, families and retirees is steady, especially for renovated or furnished units in well-run buildings.
Can foreigners buy property in Marbella?
Yes. Foreigners have the same property rights as Panamanians and can own titled property in their own name or through a Panamanian corporation or foundation.
About This Guide
Written by Ken Norton, founder of Panama Properties, a licensed buyer’s brokerage. We help buyers find homes and investments across Panama City, working alongside independent attorneys, inspectors and property managers. Prices are based on advertised asking prices reviewed in October 2026.
Looking for an Apartment in Marbella?
Tell us your budget, how much space you need, whether a bay view matters and whether you plan to live in it or rent it out. We will search the neighbourhood, arrange viewings in person or by live video and check the building before you make an offer.
Message us on WhatsApp at +507 6169-2453. Buyers pay no agent commission.
Panama Properties
Unit 1 Plaza Pedasí (Super Pedasí Plaza)
Pedasí, Los Santos 7401, Panama
WhatsApp: +507 6169-2453
Email: ken@panama-properties.com