Real Estate in Panama

"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.

"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 person 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," said one expat who made the move to Panama.

"Originally the view was unobstructed. But immediately around our apt. are schools, Atlapa, a large supermarket, a police station, community pool...things that will not get bought out and have a highrise pop up," said one in Panama City.

"We live in a spacious one bedroom apartment across from the ocean for $400 a month. There are people who live in smaller cheaper places more inland and folks who live out on the water in larger homes for more money. Typical is what fits you," explained one person living in Bocas del Toro, Panama.

"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," said one expat in 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," remarked one member in Nueva Gorgona.

"Very few homes in El Valle have air conditioning because it is generally not necessary here. The elevation of the mountains makes El Valle a bit cooler than coastal locations. Also we have very few, if any, gated communities here. Most homes are privately owned in residential areas. I hope this is helpful," explained one expat living in El Valle de Anton, Panama.

"Typical construction of homes in Boquete, or all of Panama, is lack of insulation. During rainy season the rain drops, size of marbles on a tin roof is deafening. You may want to keep ear plugs nearby," said one person in Boquete.

"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 expat living 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 person 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," said one expat who made the move to Panama City.

"I rented a house. At first I made the mistake of letting a local person insert himself between the owner of the house and me. Money got diverted. Now I'm looking to rent a bedroom only, trying for 80 to 100 dollars per month. Shouldn't be difficult. But mind you, I don't mind living in abject poverty," explained one expat living in Las Tablas, 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," explained one person living in San Carlos, 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)," 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.

"Yes, foreigners are allowed to own property in Panama. The Panamanian government has established a legal framework that allows foreign individuals and companies to purchase and own real estate in the country. Foreigners can purchase property in their own name, or through a Panamanian corporation. The process of purchasing property in Panama is relatively straightforward and can be completed in a few weeks. Additionally, foreign investors are eligible for the same tax benefits as Panamanian citizens," remarked one foreigner who made the move to 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," said one foreigner living in Nueva Gorgona, Panama.

"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," explained one expat living in 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.

"Expats can search for homes in Panama by looking online for real estate listings, contacting a local real estate agent, or searching for rental properties on websites such as Airbnb or VRBO. Additionally, expats can look for homes in Panama by attending open houses, networking with other expats, or asking for referrals from friends and family," said one expat 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," said one foreigner living in San Carlos, Panama.

"There is a website used by many real estate people and individuals that put their house/condo etc. up for sale and rent. The site is https://www.encuentra24.com/panama-es/clasificados . It covers all of Panama so it is best to know where it is you are interested in buying. It took us 3 years of traveling throughout Panama to find where we wanted to settle. Good luck with your search," explained one expat living in Panama.

"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 person in Boquete.