Apartments for sale in Panama City
Browse 530 verified buildings across 37 neighborhoods. Honest market data, ROI by zone — what your local advisor already knows, on a single screen.
Sources: Google + ACOBIR + manual verification. Last audited 2026-05-14.
How much does an apartment cost in Panama City?
Prices vary sharply by zone. The table below compares the 7 premium zones with the highest investor demand.
| Zone | Min. price | Max. price | ROI | Buildings |
|---|---|---|---|---|
| Punta Pacífica | $500,000 | $3,000,000 | 6% – 8% | 59 |
| Costa del Este | $350,000 | $1,500,000 | 5% – 7% | 91 |
| Paitilla | $250,000 | $1,500,000 | 5% – 7% | 17 |
| Coco del Mar | $220,000 | $900,000 | 4.5% – 6.5% | 0 |
| Marbella | $250,000 | $800,000 | 4% – 6% | 12 |
| San Francisco | $220,000 | $650,000 | 4.5% – 6.5% | 108 |
| Obarrio | $200,000 | $600,000 | 5% – 7% | 32 |
| El Cangrejo | $180,000 | $500,000 | 3.5% – 5.5% | 32 |
| Bella Vista | $180,000 | $450,000 | 4% – 6% | 51 |
Price ranges = minimum and maximum observed across active sale listings and recent transactions in each zone. ROI = gross annual rental return. Building count includes only verified addresses.
The 7 best zones to buy an apartment in Panama City
Punta Pacífica
Ultra-lujo, oceanfront, ejecutivos internacionales
Costa del Este
Planificado, moderno, familias ejecutivas
Paitilla
Residencial premium, eje médico, perfil ejecutivo
Coco del Mar
Residencial costero, comunidad consolidada, frente al mar
Marbella
Zona de moda, nightlife, gastronomía
San Francisco
Residencial establecido, clase media-alta, familias
Obarrio
Corporativo, ejecutivos, profesionales
El Cangrejo
Walkable, europeo, bohemio, jóvenes profesionales
Bella Vista
Urbano, walkable, culturalmente vibrante
How to buy an apartment in Panama as a foreigner
Reservation offer
Submit an offer with a $1,000–$5,000 deposit, credited to the final price. The unit goes off-market while you negotiate the contract.
Promise of Sale (Promesa de Compraventa)
Preliminary contract with a 10% deposit. Standard window: 30–90 days for due diligence and financing arrangements.
Legal due diligence
Your Panamanian attorney verifies title, liens, mortgages, taxes and permits at Registro Público. Typically 1–2 weeks.
Financing (optional)
Panamanian banks lend to foreigners from ~5% APR. LTV: 70–80% for residents, 60–70% for non-residents. Cash-only purchases close faster.
Closing & registration
Sign the Escritura Pública before a notary. Registration at Registro Público takes 2–4 weeks. Transfer tax: 2% of cadastral value.
Tax and immigration figures are general guidance, not personal advice. Consult your CPA and a Panamanian immigration attorney for your specific situation.
Frequently asked questions
How much does a luxury apartment cost in Panama City?
Luxury apartments in Panama City range from $2,200 to $3,500 per square meter in premium zones such as Punta Pacífica, Costa del Este and Marbella. A 120 m² unit in an oceanfront tower typically falls between $264,000 and $420,000. Prices are verified against Google, public sources and live MLS listings.
Can foreigners buy property in Panama?
Yes. Foreigners have the same property rights as Panamanian citizens. No visa or residency is required to purchase. Title is held in your name (or in a Panamanian corporation if preferred for asset protection) and registered at the Registro Público de Panamá. Closing costs run roughly 2–3% of the purchase price.
What is the buying process for foreign investors?
The standard path is: (1) Reservation offer with a $1,000–$5,000 deposit credited to the price; (2) Promise of Sale contract with 10% deposit and a 30–90 day window for due diligence and financing; (3) Title due diligence by a Panamanian attorney; (4) Mortgage arrangement (banks lend to non-residents at 60–70% LTV from ~5% APR); (5) Closing before a notary public and registration at Registro Público. Total timeline: 60–120 days.
What taxes apply when buying real estate in Panama?
At purchase: 2% transfer tax on the cadastral value. Annually: progressive property tax of 0.5–0.7% of cadastral value. Important benefit: new construction is exempt from property tax for up to 20 years. There is no capital gains tax on the sale of a primary residence. Consult your CPA for personalized tax planning.
Is Panama a good real estate market for US expats in 2026?
Panama uses the US dollar as official currency, has no exchange-rate risk for US buyers, offers a residency-by-investment program (Investor Visa from $300,000 through October 15, 2026), and yields gross rental ROI of 5–8% in premium zones. Costa del Este leads appreciation at +5% annually. Foreign demand from US, Canadian, Colombian and Venezuelan buyers remains strong.
What is the Preferential Mortgage Law and does it apply to me?
The Preferential Mortgage Law (Law 3 of 1985, reformed by Law 341/2025) subsidizes interest rates for primary residences below USD 120,000. To qualify the buyer must be a Panama resident and the unit must be a primary residence — most foreign-investor purchases above $120K do not qualify, but foreign residents buying smaller units can. Consult your immigration attorney for residency timing.
Planning your purchase from abroad?
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