Real Estate in Panama

"We lived in Panama City for a short time while we were waiting for our goods to arrive. The heat is almost unbearable. We had visited Boquete on previous visits and decided that its mild weather is a good choice. Never too hot or too cold. We purchase a dehumidifier for the rainy season, but you don't need an air conditioner or space heater. A lighted ceiling fan is all you need," remarked one foreigner who made the move to Alto Boquete.

"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.

"I made a visit here in August,stayed in a pretty basic place in el Cangrejo, and felt quite at home. It reminds me of Greenwich Village in NYC. I'll be staying in the same place for a month, plan to begin the Pensionado process with a recommended-by-expats att'y., and then move about 1 1/2 hrs.outside the city, coming back in as needed to complete the paperwork," said one expat in Panama City.

"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 member in Panama.

"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.

"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," explained one person living in Panama City, Panama.

"Average home would probably go for 150K to 250K, depending on location and how modern it is. Depends on what you are looking for. Take the time to do your research with various real estate companies. You can pay beaucoup the bucks for waterfront mansions," remarked one foreigner who made the move to Coronado.

"Electricity more, especially when fuel prices soar. Cable is same. No ppty taxes, but now have $400 a month maintenance in the bldg, which includes water, garbage, common area items. When I look at check registers from California, I'm reminded that we paid a monthly (smaller) fee, but paid for garbage removal, gardener for back yard, all utilities, cable, phone. Here I can live with a cell phone only," explained one person living in Panama City, 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," said one expat in Panama.

"Actually, they are comparable! I came here from living in Phoenix for the last year. Had to be very fiscally conservative there-just another victim of the economic debacle-and so I am prepared to continue this ecomically challenged life-style. It is what it is! Panama offers such an amazing variety of natural riches,that I feel quite wealthy! And grateful for this opportunity to live a different kind of life and blessed to be here," remarked one member in Panama City.

"Monthly rental is $905.00 per month cheaper. Housing here is between $600 $700 for two bedrooms. There are real estate people here who will find a house or apartment for you. Be prepared, every local has his hand out. Everyone from the cab drivers to our exterminator will offer to find a house for you. They have contacts and get commissions. But make no mistake, the Panamanians are all good-hearted and mean well. Sometimes strike gold," explained one expat living in Alto Boquete, Panama.

"We decided to rent. We sold everything we had in the US and want the freedom to move if we are ever inclined to do that. We rent furnished and love not worrying about maintenance or replacement of anything. Buying abroad can be tricky and I would encourage anyone buying to do due diligence. As for us, we are happy renting," remarked one member in Nueva Gorgona.

"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.

"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 foreigner living in Boquete, Panama.

"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)," explained one expat living in Puerto Armuelles, Panama.

"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.

"Rental properties in Panama commonly include kitchen appliances such as refrigerator, oven and stove, common laundry appliances such as washer and dryer, air conditioning units, fans and window screens to keep out insects, and occasionally furnishings, depending on the agreement between the tenant and the landlord. Additionally, it is common practice for landlords to provide households with basic, essential utilities such as water, electricity and internet," said one foreigner living in Panama.

"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," explained one expat living in Nueva Gorgona, Panama.

"We live in Panama City, and rent a furnished 1 bedroom condo, in a nice 35 story high-rise in Bella Vista. Washer/dryer stackable, fridge/freezer combo, gas burner stove top, and stove. Small microwave. This is typical most places we looked at. What we don't have: dishwasher. Most places do not have. We are adding one to our new condo waiting to be built. We also bought an airfryer on Amazon. Very handy. I would pick up a dehumidifier for your unit, if it does not come with one. Will help cut down on mildew. ," said one person in Panama.

"Inside Panama Real Estate has the most versatile listings AND property management services. Many others can be easily found online. Some specialize in farm or ranch properties, some in high rise condos in Panama City," explained one expat in San Carlos.