Real Estate in Panama

"One of the most popular ways to go about finding a place to live in Panama is to contact a real estate agent. Real estate agents have up-to-date databases on listings and can help you find something that fits your needs. Additionally, you can use online property listing services such as Pana Network and Encuentra24 to browse through property listings offered in Panama. You can narrow down your search by location, price, size, or amenities. You may also be able to find available rentals through online expat forums, social media, and other expatriate websites. You may want to consider visiting the location if possible to get a feel for the area and evaluate whether it meets your criteria," remarked one foreigner who made the move to Panama.

"We wanted to live in a safe local neighborhood near the ocean. I listened to my friends who were already here and looked in those areas," explained one person living in Bocas del Toro, Panama.

"We live in Costa del Este because we wanted to be very close to services without being in a noisy city and we also like to walk and Costa del Este is a beautiful place with wide sidewalks and beautiful landscaping," said one expat in Panama City.

"Most good rentals are found through people you know. Ours was never advertised, only word of mouth. Good rentals are difficult to find," remarked one member in Boquete.

"You will find that Albrook is much nicer than Panama City, but close enough to the City for recreation and business. After almost 30 years in Panama, I chose Albrook for my place to live about 14 years ago. It is not included in any of the relocation tours, although it should be in my opinion. If you are interested in finding out about Albrook, please send me a private message. I also have a very nice room for rent in my house and can send you info on that also if you are interested," explained one expat living in Panama City, Panama.

"I own/rent apartments in both Nueva Gorgona (Royal Palm -RP) and near Panama City/Panama Pacifico at Casa Bonita -CB. Given the two I like the Beach in Gorgona best - its really unique as it is in part a black volcanic rock beach that shimmers in the moonlight - amazing and fantastic- also I do like to cool off in the different pools there. People bash Gorgona because of proximity to shopping - I thinks its better proximity to shopping than Casa Bonita above. The last couple of times I stayed at CB there was oddly police men checking for a pass - to go the quicker "back way" to shop at Panama Pacifico (that you can buy for $5 but oddly again they can't process them fast enough for you to get one). CB is much closer and right across the americas bridge from Panama City. But going to Panama City (for me) is an all day event in traffic from CB. But that depends on planning around traffic. CB would be the place I would stay if I constantly needed advanced healthcare. Also there are pools at CB - you have to have a Pearl Club membership to swim and use the nice facilities there. Also I like CB to watch marine traffic and ships pass by going into the Canal. Also kind of funny story - Gorgona has dogs barking and cocks crowing all the time - but at CB I wake up to hear a howler monkey in the jungle - that the locals say is "just a dog" ? who's pulling who's leg. But anyway as far as square meter, beds bathrooms both places are very comparable," said one person in Nueva Gorgona.

"We have a 2 bedroom rental house up the hill from Boquete town. It is our preferred area. We were lucky and planned well in advance of moving here," remarked one foreigner who made the move to Boquete.

"Homes in Boquete range from quite rustic Panamanian style homes to large luxury homes. It all depends on your desires and budget! Most homes in Panama are concrete block construction. I will disagree with the previous poster, most homes in Boquete do not have either AC or heat, as it is not needed due to the stable and comfortable air temperature. As you drive from Boquete to David it get significantly hotter and AC would be highly desirable in those areas. See homes at https://casasolution.com," explained one person living in Boquete, Panama.

"In a highrise, and that was after living in a home, on the ground, in California. Never dreamed I'd be going vertical again. But it has safety advantages, especially in a building that has a good, stable reputation," said one expat in Panama City.

"Expat homes and apartments in Panama tend to vary greatly depending on the location and the particular preferences of expats. They often feature high-end amenities, such as pools, terraces, and modern appliances. Most expat homes feature multiple bedrooms, large bathrooms and spacious kitchens. Expat apartments may be equipped with security measures and a concierge service as well. Some expats opt for homes or apartments that are located close to beaches or other tourist attractions, while others choose to live in more secluded locations. No matter the type of property chosen, expat homes and apartments in Panama tend to have comfortable, luxury appeal," remarked one member in Panama.

"The cost of housing in Panama tends to vary depending on the location and type of property. Generally speaking, prices for apartments or condos range from moderate to expensive, with smaller units costing significantly less than luxury homes. On average, rental fees in urban locations can start as low as $500 while more upscale dwellings can range up to over $2,000 per month," said one expat who made the move to Panama.

"About rents that is one big advantage of Panama. Rents have sky-rocketed in the USA but they are still reasonable here. You do need to do some looking. I would recommend staying in an airbnb place for a couple of weeks in the area that you like so you can take your time looking for a place to rent, If you are going to rent long term it is probably cheaper to buy your own furniture and rent an unfurnished place," explained one foreigner living in Panama.

"Our rent (including electric, gas and high-speed internet) is less than half of just our mortgage in S. Florida. Tip: if internet is important to you, don't ask, "do you have internet" since everyone can get it. Ask, "what speed internet can I get and how much does it cost?" We pay about $50 for 5G megs mo. Five minutes away it is $150 for 1meg," said one in Boquete.

"We bought our home and turned half of it into a vacation rental (Tres Terrazas). We used an attorney for this as we were conducting the purchase from the states with emails, faxes, federal express and bank deposits. Not really that difficult but we had a great attorney," explained one expat living in Taboga Island, Panama.

"DO your due diligence, engage a realtor who A - speaks English, B-is responsive and pro-active, where EVER you are calling them from. KNOW what you are looking for (we made a LIST of 'must haves' and 'must NOT haves'! We found our DREAM here," said one expat in San Carlos.

"When purchasing property anywhere in Panama, it is best to use a knowledgeable real estate company and/or attorney to walk you through the process. If you work with an expat in Panama, make sure they are working here legally! Ask to see their work permit. If you work with an illegal (even if they are from your hometown!), you will have no recourse if something goes wrong. Also, understand the difference between the two types of property ownership in Panama, TITLED and R.O.P. (Right of Possession)," said one foreigner living in Puerto Armuelles, Panama.

"It is important to hire an experienced and licensed real estate attorney to help guide you through the process of buying property in Panama. Additionally, the title search should be conducted to ensure the property is properly registered with the local public registry and that any legal liens are properly handled. Make sure to get a due diligence review of any contracts and documents associated with the purchase to identify any potential risks. Before signing the closing documents, verify that all taxes, fees, and assessments are properly paid and any other conditions associated with the purchase are met. Lastly, confirm that the deed to the property is written in the buyer's name and ensure that all necessary details such as a correct street address and owner's name are included in the document," explained one expat living in Panama.

"Use only a well known reputable realtor and have an attorney. If you hire professionals listen to their advice. We bought prior to moving here 2 1/2 years ago, and we bought sight unseen as it was an unusual opportunity. The process went smoothly, no issues. We couldn't be happier with our property and in retrospect we really got a great deal on a great property," said one person in Boquete.

"Some years ago the government passed laws limiting "visitor" stays to maximum of 3 months. Property owners apply for and can be granted residency status which may take some time and $$$$, but is a must if the property here will be your primary home," explained one person living in San Carlos, Panama.

"Foreigners have the same property rights as Panamanians, with one exception. Foreigners are not allowed to own property in their own name within 10 kilometers of the border of Costa Rica. Of course, there are still legal ways to have your dream beach house! ROP properties are not included in this rule, since they are not technically "owned" and Titled properties can be held in a Panamanian Corporation or Foundation that is set up properly for this. Another reason to hire a competent attorney," remarked one foreigner who made the move to Puerto Armuelles.

"In the furnished condos along the beach, kitchens have all appliances.. these include refrigerator, stove and microwave, many even have washers/dryers, dishwashers, and garbage disposals. They are often furnished with toasters, blenders, coffee makers and other small kitchen appliances and table service too. Units usually have air conditioners too. It's a good idea to check the kitchen out thoroughly and see what is there," said one in Nueva Gorgona.

"I would recommend using a reputable agent! Highly recommend Lauretta Bonfiglio with Boquete Land and Realty and also affiliated with Casa Solution. Highly knowledgeable," said one expat in Boquete.