Living in Punta Paitilla
Established, central and surrounded by water
Punta Paitilla sits on a small point on the Bay of Panama, at the eastern end of Avenida Balboa and the Cinta Costera, next to Punta Pacífica and Bella Vista. It was one of the first areas of the city to go high-rise, and for about 70 years it was also home to the city’s domestic airport, which moved to Albrook in 1999.
Today it is a quiet, mostly residential district of ocean-view towers, many with generous older layouts, alongside newer buildings with full amenities. Multicentro mall, supermarkets, the Cinta Costera and the Corredor Sur toward Tocumen are all close by.
Ocean Views
Many towers face the Bay of Panama
From ~$160K
Older apartments in established buildings
Big Layouts
Family apartments of 300–400 m² and more
$0
Agent commission paid by buyers
Paitilla and Nearby Listings
Below are our listings in Punta Paitilla and the neighbouring waterfront areas. If you don’t see the right one, tell us your budget and must-haves and we’ll search the area for you, including properties not yet advertised. Start the Buying Process →
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What Apartments Cost in Paitilla
Based on a sample of advertised asking prices in October 2026, not closed sales. Building age and the view drive most of the difference.
Older apartments
Established towers, often with remodel potential
From about $160,000
Varies with size and condition
Large family units and duplexes
Three and four bedrooms of 400 m² or more in older buildings
About $500,000–$575,000
About $1,200–$1,250 per m²
New ocean-view towers
Recently built buildings with full amenities
Around $1.3 million for 329 m²
About $3,950 per m²
What Drives the Price
Building age. A large apartment in a 1980s building can cost a third of the price per m² of a new tower.
Renovation. Many older units need updating, so budget for it and check what the building allows.
The view. Direct bay views on a high floor carry a clear premium.
From Airstrip to Skyline
A short history of one of Panama City’s first high-rise neighbourhoods.
1930s
An Airport on the Point
For about 70 years, Paitilla was home to the city’s domestic airport, Marcos A. Gelabert, right on the edge of the bay.
1960s
Homes and Hotels
Development took off with family homes and accommodation for visitors, followed by some of the city’s first residential towers.
1970s
A Landmark Hotel
The Hotel Plaza Paitilla Inn, which opened as a Holiday Inn, was for a time the tallest building in Panama City.
1999
The Airport Moves
Domestic flights moved to Albrook in January 1999, and the surrounding waterfront continued to fill with towers.
2009
The Cinta Costera
The new bayfront park and promenade linked Paitilla to Bella Vista and Casco Viejo along the water.
Around Punta Paitilla
A compact, mostly residential point with the bay on three sides.
WATERFRONT
Cinta Costera
The bayfront promenade starts close by and runs west along Avenida Balboa toward Casco Viejo, ideal for walking, running and cycling.
SHOPPING
Multicentro
A shopping mall with stores and restaurants at the entrance to the neighbourhood.
GETTING AROUND
Corredor Sur
The highway toward Costa del Este and Tocumen International Airport starts on the edge of Paitilla.
HEALTHCARE
Punta Pacífica Next Door
Pacífica Salud hospital and Multiplaza mall are a short drive away in neighbouring Punta Pacífica.
COMMUNITY
Kosher Dining
The area is known for its kosher restaurants and shops.
RESIDENTIAL
Quiet Streets
With little through traffic, Paitilla feels calmer than the busier districts around it.
Buying Tips for Punta Paitilla
Many Paitilla buildings are decades old. Here is what we check with buyers.
Inspect the Building
Ask about elevators, plumbing, windows, facade work, recent special assessments and the HOA reserve fund.
Budget for Renovation
Large older units are excellent value once updated. Get quotes early and check what works the building allows.
Compare HOA Fees
Fees vary widely between older and newer towers. Ask what is included and whether increases are planned.
Check the Parking
Confirm how many spaces come with the unit and that they are included in the title or the sale.
Check the View Line
Ask what could be built in front of you, even in a mostly built-out area.
Use an Independent Attorney
Your attorney should verify the title, liens, HOA debts and building rules before you sign.
Is Paitilla Right for You?
Who tends to love it, and who might be happier elsewhere.
A Great Fit For
Families who want a big apartment
Buyers who want ocean views at a sensible price per m²
Retirees who want a calm, central base
Buyers happy to renovate
Anyone who wants the Cinta Costera nearby
Think Twice If
You want a brand-new building with resort amenities
You need a house with a garden
You want nightlife on your doorstep
You don’t want to manage a renovation
You need a gated community
Renting It Out
Long-term demand comes from families, professionals and people relocating for work who want space and a central location. Rents depend on the building, view, furnishing and parking. Many buildings restrict short-term rentals, so check the rules first. We pull current comparable rents before you buy.
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.
Punta Paitilla Real Estate FAQ
Where is Punta Paitilla?
On a small point on the Bay of Panama at the eastern end of Avenida Balboa, next to Punta Pacífica and Bella Vista, with the Corredor Sur starting nearby.
How much does an apartment cost in Paitilla?
Based on a sample of asking prices in October 2026, older apartments start around $160,000, large family units and duplexes of 400 m² or more ask about $500,000 to $575,000, and new ocean-view towers reach about $1.3 million.
Why are Paitilla apartments so large?
Many buildings date from the 1970s to the 1990s, when family apartments were built bigger than most new units today.
Was there an airport in Paitilla?
Yes. The city’s domestic airport operated in Paitilla for about 70 years until January 1999, when flights moved to Albrook.
Is Paitilla quiet?
It is mostly residential with little through traffic, so it is calmer than the busier districts nearby.
Can foreigners buy property in Paitilla?
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.
What are the closing costs?
Buyers pay no agent commission. Plan for 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.
Can buying here 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 the rules with an immigration attorney.
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.
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.
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. Hero photo: Panama City skyline by Octavio Cogley, CC BY 3.0, via Wikimedia Commons.
Looking for an Apartment in Paitilla?
Tell us your budget, how much space you need, whether a renovation is on the table and whether you want a bay view. We will search the area, 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