Last updated: June 1, 2026
Price per square meter is the most reliable indicator for comparing zones in Panama — much more so than the absolute price of an apartment, which depends on size. This report consolidates the median price per sqm in 2026 by premium zone, with the methodology behind each number and no invented figures.
Methodology (Summary)
The data comes from PanamaProp's proprietary index, built on verified active listings from Encuentra24, InmoPanama, and MLS ACOBIR (snapshot as of May 31, 2026).
- Sample: 3,199 sale listings and 1,153 rental listings that pass sanity filters (sale $400–$15,000/sqm, rent $3–$120/sqm/month) to exclude capture errors.
- Statistic: we use the median, not the average — more robust to outliers.
- Property type: residential apartments (no offices, no commercial spaces).
- Asking prices: these are listed (asking) prices, not transactional closing prices, which tend to sit above the real sale price.
- Currency: US$/sqm (Panama uses the dollarized balboa 1:1).
Median Price by Premium Zone (2026)
| Zone | Sale (median $/sqm) | Rent (median $/sqm/month) | Sample (sale) |
|---|---|---|---|
| Marbella | $3,119 | reduced sample* | 50 |
| Costa del Este | $2,762 | $13.45 | 273 |
| Punta Pacifica | $2,696 | $13.44 | 299 |
| Bella Vista | $2,204 | $13.00 | 181 |
| Obarrio | $2,057 | $12.59 | 52 |
| El Cangrejo | $2,042 | $11.76 | 94 |
| San Francisco | $2,038 | $11.61 | 405 |
| National (reference) | $2,208 | $12.59 | 3,199 |
*Marbella has the smallest rental sample; we do not publish its specific median rent (our golden rule: we do not assert what the sample cannot support).
Transparency: we publish only zones with a robust sample. Zones like Paitilla and Coco del Mar do not yet have a sufficient sample of their own (historically their listings were grouped under Punta Pacifica) and will be added once the ongoing reclassification allows it. We do not invent a price where the data does not support one.
Prices vary within each zone: a sea-view unit can be above its building's average; an interior or no-view unit, below.
The Yield Factor (Rental) by Zone
Price per sqm =/= profitability. A more expensive sqm does not guarantee a better return. Gross yield by zone (annual rent ÷ sale price, both per sqm):
| Zone | Gross annual yield |
|---|---|
| Obarrio | 7.35% |
| Bella Vista | 7.08% |
| El Cangrejo | 6.91% |
| San Francisco | 6.84% |
| Punta Pacifica | 5.98% |
| Costa del Este | 5.84% |
Zones with a higher price/sqm (Punta Pacifica, Costa del Este) tend to have a lower gross yield — the trophy-asset pattern: the premium concentrates in the sale price, not the rent. The national median gross yield is 6.84%.
What Each Sqm Range Buys You (Reference)
- Around $2,000/sqm: entry to central premium (San Francisco, El Cangrejo, Obarrio) — good price/location balance.
- $2,200–$2,800/sqm: consolidated premium (Bella Vista, Punta Pacifica, Costa del Este).
- $2,800/sqm and up: the top tier of the market (Marbella, sea-view units, high floors with a view).
Districts outside the premium zones usually trade below these levels, but we do not publish a per-district median until we have a sufficient sample for each one: we prefer not to assert a number the data cannot support.
How to Use This Table When Buying
- Compare apples to apples: the sqm of a 2010 building is not worth the same as one delivered in 2025, even in the same zone.
- Verify amenities: pool, gym, 24h security, and lobby affect the perceived sqm.
- View and floor: a sea-view unit can be well above its tower's average.
- Negotiate based on sqm: if you are offered an apartment above your zone's median, ask what justifies it.
Sources and Updates
- PanamaProp proprietary index over active listings from Encuentra24, InmoPanama, and MLS ACOBIR (snapshot as of May 31, 2026, n=3,199 sale / 1,153 rent).
- Statistic: median, with sanity filters. Asking prices, not closing prices.
- Updated periodically as the scrapers run.
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Want the real sqm price of a zone or specific building? Alma, PanamaProp's assistant, starts from this real data and places a property within the market in seconds. Talk to Alma, and if you want the exact comparable for a tower, the PanamaProp team continues.