1922
The Juan Franco racetrack opens on today’s Urbanización Obarrio
From ~$160K
New one-bedrooms in recent towers
Line 1
Metro stations on Vía España, a short walk away
Living in Obarrio
Walk to work in the heart of the banking district
In short: Obarrio is Panama City’s banking and business core, where new residential towers stand beside the Calle 50 office skyline. October 2026 asking prices start around $160,000 for a one-bedroom in a recent tower, and large three-bedrooms in older buildings start around $200,000.
Obarrio lies roughly between Vía España and Calle 50, whose official name is Avenida Nicanor de Obarrio, with Avenida Samuel Lewis running through the middle. Its neighbours are El Cangrejo to the north, Campo Alegre to the west, Marbella across Calle 50 and San Francisco to the east.
It is busy by day with banks, law firms, embassies, restaurants and the SOHO Mall complex, and quieter in the evening on the side streets. Housing is almost all apartments: new towers with amenity decks, and older 1980s to 2000s buildings with much larger layouts, often 160 to 250 m² for a three-bedroom.
Obarrio Listings
Below are our current listings in Obarrio, from new one-bedrooms to offices near Calle 50. 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 →
.png){kind=small}
What Apartments Cost in Obarrio
Based on about 60 advertised asking prices in October 2026, not closed sales. Building age moves the price per m² more than anything else.
Large apartments in older towers
Three bedrooms, 150 to 250 m², built in the 1980s to 2000s
From about $200,000
About $1,300–$2,100 per m²
New one-bedrooms
48 to 73 m² in recent towers with amenities
From about $160,000
About $3,300–$4,900 per m²
New two- and three-bedrooms
79 to 186 m² in new towers
From about $290,000
About $2,500–$3,700 per m²
What Drives the Price
Age. Older towers give far more space for the money but carry higher maintenance fees and dated finishes.
Location. Units a short walk from Calle 50 or the Metro hold their value best.
The building. Floor, view, parking spaces and the maintenance fee and reserve fund all move the price.
Around the Neighbourhood
Obarrio is built for working days, with shops, food and transport on every block.
WORK & BUSINESS
Calle 50 Banking District
Bank headquarters and office towers line Calle 50. The 1970 banking law is credited with creating the banking centre here and in Campo Alegre and Marbella.
LANDMARK
F&F Tower
The 52-storey twisting tower on Calle 50, finished in 2011, is one of the city’s best-known buildings and an easy reference point.
SHOPPING
SOHO Mall
An upscale mall in a mixed-use complex with offices and a hotel, on the Calle 50 side of Obarrio.
GETTING AROUND
Metro Line 1
Vía Argentina and Iglesia del Carmen stations on Vía España opened in 2014 and are a short walk from most Obarrio towers.
EAT & DRINK
Avenida Samuel Lewis
Obarrio’s main avenue, with cafés, restaurants, boutiques and services. Vía Argentina’s restaurant strip is a short walk north.
GREEN SPACE
Parks Nearby
Obarrio has little green space of its own. Residents use Parque Andrés Bello in El Cangrejo and the Cinta Costera, reached through Marbella.
Is Obarrio Right for You?
A quick, honest guide to who tends to love it and who might be happier elsewhere.
A Great Fit For
Professionals who want to walk to work
Buyers who want the Metro and less time in a car
Investors targeting executive tenants
Anyone who likes shops and restaurants at the door
Families after a large older apartment at a moderate price per m²
Think Twice If
You want a house, a garden or a gated community
Weekday traffic and building work bother you
You want a sea view (most towers look over the city)
You prefer quiet evenings in a residential setting
Renting It Out
Demand comes mainly from people working in the banks, law firms and multinationals around Calle 50, which supports interest in furnished one- and two-bedrooms. Several new towers are delivering units at once, so furnishing, amenities and walkability matter. We pull current comparable rents before you buy.
How Obarrio Grew
From a racetrack to the city’s banking district.
1922
Racing at Juan Franco
Horse racing began at the Juan Franco track on 15 October 1922, on the land along Vía España now known as Urbanización Obarrio.
1930
Part of Bella Vista
A 1930 mayoral decree created the Bella Vista corregimiento, and Obarrio was among the areas within its limits.
1956
The Track Moves Out
The last race day at Juan Franco was 8 July 1956. Racing moved to Juan Díaz, opening the land for city development.
1970
The Banking Centre
The 1970 banking law led to the international banking centre that grew up in Obarrio, Campo Alegre and Marbella.
2014
The Metro Arrives
Metro Line 1 opened with Vía Argentina and Iglesia del Carmen stations on Vía España, a short walk from Obarrio.
Buying Tips for Obarrio
What we check with buyers here before they make an offer.
Inspect Older Towers
Check the lifts, plumbing, wiring and waterproofing, and read the building’s reserve fund and meeting minutes.
Compare Maintenance Fees
Large older units can carry fees of $250–$350 a month or more. Count them in the real cost of ownership.
Vet Pre-Construction
Check the developer’s record, delivery date, payment schedule and where deposits are held. Your attorney should review the contract.
Read the Rental Rules
Some buildings restrict short stays. Confirm the building regulations before you buy for income.
Count Parking and Storage
Parking is often sold per space. Check how many spaces are titled with the unit.
Visit at Rush Hour
Traffic on Vía España, Calle 50 and Samuel Lewis is heavy at peak times. Test access and noise from the unit itself.
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.
Obarrio Real Estate FAQ
Where is Obarrio?
In central Panama City, within the Bella Vista corregimiento, roughly between Vía España and Calle 50, next to El Cangrejo, Marbella and San Francisco.
How much does an apartment in Obarrio cost?
October 2026 asking prices started around $160,000 for a one-bedroom in a recent tower, around $290,000 for a new two-bedroom, and around $200,000–$300,000 for a large three-bedroom in an older tower.
Is Obarrio safe?
It is a busy business district, and most buildings have doormen and 24-hour security. Normal big-city precautions apply, especially on quiet side streets at night.
How far is Obarrio from Casco Viejo?
About 4–5 km: a short drive along Avenida Balboa and the Cinta Costera, or Metro Line 1 to 5 de Mayo and a walk.
Is Obarrio good for rentals?
Demand from banking and corporate tenants is steady, but many new units compete. Well-furnished, walkable units with good amenities let best.
Can foreigners buy property in Obarrio?
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 Obarrio?
Tell us your budget, how many bedrooms you need, whether you want a new tower or more space in an established building, 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