Panama City Real Estate Buyer's Guide (2026)
Panama City is less one market than a dozen neighbourhoods sharing a skyline, from the colonial streets of Casco Viejo to the master-planned towers of Costa del Este. Retirees, remote workers, families relocating for work and investors all buy here, and the neighbourhood you choose matters more than the city itself. This guide gives you the big picture; for what is on the market now, browse our Panama City real estate page.
Why Buyers Choose Panama City
Most of our city buyers want an urban life with good healthcare, easy flights home and a home that suits their budget. The capital offers all of that across a very wide range of property types and prices.
Variety: restored colonial apartments, high-rise condos with bay views, family homes in former Canal Zone communities, and commercial space.
Connections: Tocumen International Airport puts international flights within easy reach.
Healthcare and schools: private hospitals in Punta Pacífica and international schools in Costa del Este.
A large expat community, so newcomers find English-speaking services and neighbours quickly.
Foreigners hold property with the same rights as Panamanian citizens, personally or through a corporation or foundation.
Buyers pay no agent commission when they buy with us.
Where to Buy in Panama City
Each district has its own character and its own type of buyer. These are the areas we show most often, with links to our neighbourhood guides where we have them.
Punta Pacífica: luxury high-rises, ocean views and private hospitals; popular with retirees and buyers who value medical care close by.
Costa del Este: master-planned, with wide boulevards and international schools; a favourite with families and professionals.
Avenida Balboa: waterfront towers with skyline views beside the Cinta Costera.
San Francisco: a residential and commercial hub suited to young professionals and long-term rentals.
Marbella: between Punta Pacífica and Avenida Balboa, and generally more affordable; good for first-time buyers.
El Cangrejo: walkable and tree-lined, with a strong expat presence.
Obarrio: the financial district, with luxury residences for executives.
Clayton and Albrook: former Canal Zone communities with green space, low-rise homes and townhomes near the Canal and Metropolitan Park.
Casco Viejo: the UNESCO historic district, with heritage apartments and commercial buildings.
What Property Costs in Panama City
The figures below are advertised asking prices as of October 2026, not closed sales. Broadly, condos are advertised from about $150,000 to $1,200,000 and up, homes from about $250,000 to $3,000,000 and up, and land from about $100,000 to $5,000,000 and up depending on zoning and location. Recent examples from our current Panama City listings:
New boutique tower in Bella Vista: from $160,000 for units of 43 to 60 square metres.
New ocean-view boutique building on Amador: $198,500 to $638,500 for 50 to 164 square metres.
Casco Viejo apartment with amenities: $270,000 for 55.3 square metres.
New apartment in Costa del Este: $330,600 for 76 square metres.
PH Mandarín Bay, San Francisco: $420,000 for 206 square metres.
Large family apartment in San Francisco: $430,000 for 330 square metres.
Loft-style residence in Casco Viejo: $885,000 for 250 square metres.
The Palms Beach Resort, Ocean Reef Islands: $1,157,450 to $2,146,250.
How Buying Works in Panama City
Almost everything for sale in the city is a condo in a titled building, which makes the process straightforward compared with rural land. The usual sequence looks like this:
Choose two or three neighbourhoods that match your lifestyle and budget, and tell us what matters most: views, schools, walkability or rental use.
Tour shortlisted properties with us, in person or by video, and compare buildings as carefully as apartments.
Submit a written offer. We negotiate on your behalf.
Hire an independent Panamanian attorney who works for you, not the seller or developer.
Sign a promissory contract and pay the deposit, typically 10%.
Your attorney completes due diligence: title, liens, HOA debts and building rules.
Sign the final purchase deed, pay the balance and close.
Your attorney registers the transfer at the Panama Public Registry, and the title is in your name.
What to Check Before You Buy
Title: buy titled property. Rights of Possession are rare in the city and need extreme caution and advanced legal review.
Monthly HOA fees, the building's bylaws and what the fee covers.
Rental policies: many buildings restrict short-term rentals, so get the rules in writing before you count on rental income.
Ownership structure: personal name, corporation or foundation, depending on tax planning, multiple owners and rental management.
New construction: confirm the developer's track record and whether any property tax exemption applies, and for how long.
An independent inspection, which is optional but worth the small cost on any resale.
Costs, Financing and Residency
Buyers pay legal fees of about 1% to 1.5% plus small notary and Public Registry fees; the 2% transfer tax is customarily paid by the seller. Annual property tax depends on the registered value; our property tax guide explains how it works.
Most foreign buyers in the city pay cash, but it is not the only option. Through our lending partner, qualified foreign buyers can finance up to 75% of titled property. Banks require proof of income. See our mortgages and loans page for details.
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. Rules change, so confirm your route with an immigration attorney. Our residency through investment guide covers both visas.
Is Panama City Right for You?
A great fit if you want walkable urban living, top private hospitals, international schools, restaurants and an airport within easy reach, or if you are buying a condo you plan to rent long term.
Think twice if you want a garden, beach or mountain air on your doorstep. In that case, look at Coronado on the Pacific coast, or Boquete in the Chiriquí highlands.
Panama City Buyer FAQ
Can foreigners buy property in Panama City?
Yes. Foreigners have the same property rights as Panamanians and can hold titled property personally or through a Panamanian corporation or foundation.
Which neighbourhoods suit families?
Families tend to look at Costa del Este for its planned streets and international schools, and at Clayton and Albrook for low-rise homes and green space. San Francisco also offers large family apartments close to Parque Omar.
Do I need to be in Panama to buy?
Not necessarily. Many of our clients start with video tours, and your attorney can explain the options for signing from abroad. We still recommend seeing a building in person if you can.
Do I pay 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.
What does it cost me to use Panama Properties?
Nothing. Buyers pay no agent commission. Your own costs are your attorney plus small notary and registry fees.
When you are ready, Start the Buying Process and tell us how you want to live in the city, or browse our Panama City area guide and listings. Buyers pay no commission, and you can reach us on WhatsApp at +507 6169-2453. Our office is at Unit 1 Plaza Pedasí (Super Pedasí Plaza), Pedasí, Los Santos 7401.
