US$
Panama’s currency, so no exchange risk for dollar earners
~$160K
Where new compact condos start in our current listings
Tocumen
Direct flights to North America, Latin America and Europe
$0
Agent commission paid by buyers
Living and Buying in Panama City
The widest choice of property in Panama
Panama City is the country’s capital and its business and banking centre. Within a short drive you can choose between a high-rise condo on Avenida Balboa, a family apartment in Costa del Este or San Francisco, a restored colonial home in Casco Viejo, or a residence on Ocean Reef Islands.
Some buyers want a full-time home with good hospitals, schools and restaurants close by. Others want a city base between trips to the beach or the mountains, or a long-term rental in a neighbourhood with steady demand. Each area has its own character, building rules and price level, so the right choice depends on how you plan to use the property.
Panama City Properties for Sale
Our current Panama City listings cover a wide range of homes and investments. In Casco Viejo you’ll find restored colonial apartments, new loft residences in Santa Ana and commercial spaces in historic buildings. Elsewhere in the city we have furnished condos in Costa del Este, a family apartment in San Francisco, new buildings in Bella Vista and Amador, condos in Coco del Mar, and resort-style residences on Ocean Reef Islands. Choose a property for details, photos and pricing, or contact us for a list matched to your budget and plans.
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Asking Prices at a Glance
Taken from the Panama City properties we currently have listed. These are asking prices as of October 2026, not closed sales, so use them as a guide to where the market sits today rather than a valuation of any one property.
New and pre-construction condos
Bella Vista, Amador and Coco del Mar
From about $160,000
$3,700–$4,000 per m²
One-bedroom condos
Costa del Este
$264,000–$331,000
$4,350–$5,000 per m²
Apartments and lofts
Casco Viejo
$263,000–$885,000
$3,500–$4,900 per m²
Large resale family apartment (330 m²)
San Francisco
$430,000
About $1,300 per m²
Island resort condos
Ocean Reef Islands
$1.16M–$2.15M
Varies by unit
Commercial space
Casco Viejo
From about $198,000
$4,500–$5,000 per m²
What the Numbers Show
Older resale can be far cheaper per m². The San Francisco apartment is less than half the price per m² of most new condos, though older buildings may need updating and can cost more to maintain.
Small units cost more per m². Compact one-bedrooms and studios carry the highest price per m², so compare similar sizes.
The building matters as much as the area. Views, floor level, terraces, parking and amenities often move the price more than the neighbourhood alone.
Neighbourhood Finder
Every part of the city has its own character, building style and price level. These are the areas our buyers ask about most. Not sure where to start? Tell us how you plan to use the property and we’ll suggest two or three to compare.
Punta Pacífica
Waterfront towers next to Multiplaza mall and Punta Pacífica hospital, many with bay views and full amenities.
Best for: high-rise living near shopping and healthcare
Costa del Este
A planned east-side district with modern towers, offices, schools and quick access to Tocumen via the Corredor Sur.
Best for: families and professionals
Avenida Balboa
Towers facing the bay and the Cinta Costera promenade, close to Casco Viejo and the banking district.
Best for: bay views and an active waterfront life
San Francisco
Central and residential, with Parque Omar, local restaurants and apartments at many price levels.
Best for: central living and good value
Casco Viejo
The UNESCO-listed historic district of restored colonial buildings, lofts, plazas and restaurants.
Best for: character and walkable streets
Ocean Reef Islands
Two man-made islands off Punta Pacífica with private residences, resort amenities and a marina.
Best for: privacy close to the city
El Cangrejo
Tree-lined, walkable streets with cafés around Vía Argentina and easy access to Metro Line 1.
Best for: a lively neighbourhood without towers
Marbella
A small central area between Bella Vista and Punta Paitilla, with smaller, more affordable apartments.
Best for: long-term rentals
Obarrio
Part of the main business and banking district around Calle 50, with offices, hotels and towers.
Best for: living close to work
Clayton
A green former Canal Zone area with houses, townhomes and several international schools nearby.
Best for: families who want space and gardens
Albrook
Quiet streets of houses beside the Metropolitan Natural Park, near Albrook Mall and the transport hub.
Best for: a residential feel with easy transport
Panamá Pacífico
A planned community 15 to 20 minutes west across the Bridge of the Americas, with forest and trails.
Best for: families wanting a house and garden
Types of Property in Panama City
Panama City has the widest range of property in the country. Here is what you’ll find and who each type tends to suit.
01
High-Rise Condos With Views
Towers along Avenida Balboa, Punta Pacífica, Coco del Mar and Costa del Este, many with pools, gyms, security and parking. Views, floor level and amenities drive the price, and HOA fees in amenity-rich towers can be significant.
02
Historic Homes and Lofts
Restored colonial buildings and high-ceilinged lofts in Casco Viejo, plus new residences in neighbouring Santa Ana. Restoration rules apply to historic buildings, so check what can be changed.
03
Central City Apartments
Established and new buildings in Bella Vista, Obarrio, El Cangrejo and San Francisco, close to offices, parks and restaurants. Popular with professionals and long-term tenants.
04
Family Apartments and Houses
Larger apartments in Costa del Este and San Francisco, and houses and townhomes in greener Clayton and Albrook, with schools and shopping nearby.
05
Pre-Construction
Buy early, choose your unit and pay in instalments during construction. In return you take on delivery risk, so review the developer’s track record, payment schedule and delay terms.
06
Commercial Property
Retail, office and mixed-use units, especially in Casco Viejo. Zoning, permitted uses, existing leases and building rules all affect value and need careful due diligence.
07
Island Living
Private residences on Ocean Reef Islands, with resort-style amenities and marina access, close to the city but set apart from it.
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Not Sure Which Type Suits You?
Tell us your budget and how you will use the property, and we’ll send a short list of buildings and neighbourhoods to compare.
Why Buyers Choose Panama City
Equal Ownership Rights
Foreigners can own titled property with the same rights as Panamanians, in their own name or through a corporation or foundation. Border-area restrictions do not affect Panama City.
A Dollar Economy and Banking Centre
Panama uses the US dollar, and local banks lend to foreign buyers on titled property. See our mortgage and financing guide.
Property Tax and Retiree Benefits
Property tax is based on the registered value, with an exemption for a registered primary residence. Pensionado visa holders get discounts on many everyday services. Read our property tax guide.
Steady Long-Term Rental Demand
Professionals, diplomats, executives and relocating families rent in the central and waterfront neighbourhoods. Returns depend on the building, HOA fees and management.
Everyday Convenience
Private hospitals, international schools, malls, restaurants, the Cinta Costera, Parque Omar and the Metro are all close at hand.
A Base for Exploring Panama
Tocumen has direct flights to North America, Latin America and Europe. The Coronado beaches are about an hour away, with domestic flights to David and Bocas del Toro.
Renting and New Construction
Two questions that shape most Panama City purchases: can you rent it, and should you buy new?
Long-Term Rentals
Demand comes from professionals, diplomats, executives and relocating families, especially in central and waterfront areas. Rents depend on the building, size, furnishing and parking, so ask us for current comparable rents.
Short-Term Rentals
Many buildings restrict or ban short-term rentals, while others, including some in Casco Viejo, allow them. Always check the building’s rules before you buy with rental plans, and budget for management and cleaning.
New and Pre-Construction
Several new buildings are selling at once, which gives buyers choice and payment plans. Review the developer’s track record, the payment schedule, the completion date and the delay terms, and compare with resale nearby.
Costs to Factor In
The price is only part of the budget. Plan for these as well.
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.
How We Help You Buy in Panama City
We work for you as the buyer, in English and Spanish, alongside independent attorneys, inspectors, banks and property managers. Meet our team or see how we work with buyers.
STEP 1
Plan
Tell us how you’ll use the property and we shortlist two or three neighbourhoods.
STEP 2
View
In person or by live video: resale, new buildings and pre-construction.
STEP 3
Compare
HOA fees, rental rules, building condition and realistic rents, side by side.
STEP 4
Close
Offer, independent legal due diligence, escrow and title registration.
STEP 5
Settle In
Help with utilities, property management and settling in after the sale.
Panama City Real Estate FAQ
Can foreigners buy property in Panama City?
Yes. Foreigners have the same property rights as Panamanian citizens and can own titled property in their own name or through a Panamanian corporation or foundation. Border-area restrictions do not affect Panama City. Use an independent attorney to verify the title, liens and building records.
Which Panama City neighbourhood is best for me?
It depends on how you will use the property. Avenida Balboa and Punta Pacífica suit high-rise living with bay views, Costa del Este suits families and professionals, El Cangrejo and San Francisco offer walkable central living, and Casco Viejo offers historic character.
How much does a condo cost in Panama City?
Based on our listings in October 2026, new and pre-construction condos start from about $160,000 for compact units, one-bedroom condos in Costa del Este ask about $264,000 to $331,000, and Casco Viejo apartments ask about $263,000 to $885,000.
Should I buy new, pre-construction or resale?
Resale apartments are ready to move into, and you can see the real HOA fees and the building’s condition. New and pre-construction projects offer modern finishes and payment plans, but pre-construction carries delivery risk, so check the developer’s track record and contract terms.
Can I rent my apartment on Airbnb?
It depends on the building. Many Panama City buildings restrict or ban short-term rentals, while others allow them. Check the building’s rules before you buy, and plan for the cost of management and cleaning.
What is the long-term rental market like?
Demand comes from professionals, diplomats, executives and relocating families, especially in central and waterfront neighbourhoods. Rents depend on the building, size, furnishing and parking, so we pull current comparable rentals before you buy.
What are HOA fees like?
They vary widely with the building and its amenities, such as pools, gyms, security and staff. Before you make an offer, ask for the current fee, what it covers, any planned special assessments and the reserve fund balance.
What are the closing costs when buying?
Buyers pay no agent commission; the seller pays it. Your main cost is your attorney, typically about 1% to 1.5% of the price, plus small notary and Public Registry fees. The 2% transfer tax is customarily paid by the seller, and a deposit of around 10% is usually held in escrow until closing.
Do I pay property tax in Panama?
Yes. Property tax is based on the registered value, with an exemption for a registered primary residence up to a set value. Some properties carry exemptions from earlier incentive programmes, so ask whether one applies and when it ends.
Is there capital gains tax when I sell?
Yes. Panama withholds 3% of the sale price or the registered value, whichever is higher, which most sellers accept as the final tax. You can instead file on the actual profit, with the 3% credited.
Can I get a mortgage as a foreigner?
Yes. Through our lending partner, qualified foreign buyers can finance up to 75% of the purchase price on titled property. Banks require proof of income, and terms depend on your profile and residency status.
Should I buy in my own name or through a corporation?
Both are common. A Panamanian corporation can help with estate planning and multiple owners, but selling the company’s shares later is taxed as a sale of securities, and a buyer of the company takes on its history. Get advice from an independent attorney and tax adviser.
Can buying property help me get residency?
It can. As of September 2026, the Qualified Investor visa requires $300,000 in a first sale from a developer or $500,000 in a resale, and the Friendly Nations visa accepts titled property from $200,000. Confirm current rules with an immigration attorney.
Can I buy without being in Panama?
Yes. We can show you properties by live video, and you can sign through a power of attorney given to your lawyer. Many buyers still visit before closing to see the building and neighbourhood in person.
How long does it take to buy a property?
A cash purchase of a resale apartment often closes in about 30 to 90 days, depending on due diligence and paperwork. Mortgage purchases usually take longer, and pre-construction purchases close when the unit is delivered and titled.
About This Guide
Written by Ken Norton, founder of Panama Properties, a licensed buyer’s brokerage. Our team works in Panama City regularly, viewing properties, meeting developers and showing buyers around neighbourhoods, alongside independent attorneys, inspectors and property managers. Prices reflect our current listings and were last reviewed in October 2026.
Ready to Find Your Place in Panama City?
Tell us your budget, the neighbourhoods you like and whether the property is a home, a city base or a rental. We can show you properties in person or by live video, and help you compare resale homes with new and pre-construction projects.
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