Casco Viejo Real Estate Market Report Q4 2026: Price per m² and Data Snapshot
This quarterly report covers Casco Viejo, Panama City's historic old quarter. It summarises the asking prices of the 10 properties we currently list there, including apartments and commercial or mixed-use spaces, with price per square metre, price bands and the key technical facts. For current listings, see our Casco Viejo real estate page.
Casco Viejo at a glance: October 2026
Active listings analysed: 10
Asking price range: US$197,800 to US$3,500,000
Median asking price: US$457,000
Property mix: 5 condos/apartments, 5 commercial/mixed-use
Condos and apartments: 5 listed, from US$263,424 (median US$449,000, top US$885,000)
Bedroom mix (homes and condos): 1-bed × 3, 2-bed × 2
Sizes: median condo size 124 m²
Asking price per square metre
Condos and apartments (built area): 5 listings with a stated size, median US$4,201/m², range US$3,540–4,882/m²
Commercial and mixed-use (built area): 2 listings with a stated size, median US$3,577/m², range US$2,309–4,845/m²
Commercial and mixed-use listings are included in the price range and price bands; only those with a stated area are used for price per m².
Listings by price band
Under US$200,000: 1 listing
US$200,000–399,999: 3 listings
US$400,000–749,999: 3 listings
US$750,000–1.49 million: 2 listings
US$1.5 million and over: 1 listing
Technical snapshot: Casco Viejo
Status: Casco Viejo was listed as a UNESCO World Heritage Site in 1997.
Heritage rules: restoration and building rules protect the façades and limit new supply.
Entry points: listings from about US$198,000 (commercial) and apartments from about US$263,000.
Property types in this sample: restored colonial apartments and commercial or mixed-use units.
Check each building's rules on short-term rentals before you buy.
Buying costs and rules that apply
Currency: Panama uses the US dollar, so prices are quoted and paid in US$.
Ownership: foreigners can own property outright with the same rights as Panamanians, in their own name or through a corporation or foundation.
Deposit: typically 10% of the price, held in trust or escrow when the Promise to Purchase Agreement is signed.
Buyer costs: buyers pay no commission to Panama Properties. Typical costs are attorney's fees of about 1% of the price, notary and registration fees of a few hundred dollars, and a small escrow fee if used.
Seller costs: sellers typically pay the transfer tax and capital gains tax.
Property tax (primary residence): first US$120,000 of cadastral value exempt, 0.5% from US$120,001 to US$700,000, 0.7% above that.
Property tax (rentals and second homes): first US$30,000 exempt, 0.6% to US$250,000, 0.8% to US$500,000, 1.0% above.
Finance: most foreign buyers pay cash by international wire, and mortgage options are available through our lending partners on approved credit (OAC).
Methodology
How to read these numbers: every figure here comes from the asking prices of properties currently listed with Panama Properties in Casco Viejo as of October 2026. They are not completed sale prices, valuations or appraisals, and the samples are small, so a single listing can move a median. Price per m² for homes and condos is the asking price divided by the stated construction area; for land it is the asking price divided by the lot area. Listings without a stated size are counted in the price figures but left out of the per-m² figures. Use this report as a starting point, and ask us for comparables on any property you are considering.
See every Casco Viejo listing
Browse current apartments and commercial spaces on our Casco Viejo real estate page. Prices and availability change often, and this report will be refreshed each quarter.
Ready to look at properties? Start the Buying Process and we will send you matching listings and comparables. You can also WhatsApp Ken Norton on +507 6169-2453 (English) or Evelyn Díaz on +507 6718-4140 (Español).
