Real Estate in Panama City, Panama
Last updated on Mar 03, 2023
Summary: The most desirable neighborhoods in Panama City, Panama are Punta Pacifica, Costa del Este, San Francisco, and El Cangrejo. The average cost to buy a nice 2 bedroom home in Panama City is around $200,000 USD, while a nice 3 bedroom home can cost around $300,000 USD. These properties typically include modern amenities such as air conditioning, stainless steel appliances, and granite countertops. Foreigners are allowed to purchase property in Panama City, however, there are certain restrictions. For example, foreigners are not allowed to purchase property within a certain distance of the Panama Canal or within a certain distance of the border. When searching for a home to buy in Panama City, it is important to research the area and the neighborhood. It is also important to work with a reputable real estate agent who is familiar with the area and the local market. Additionally, it is important to get a home inspection to ensure that the property is in good condition.
How do I find a place to live in Panama City?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"Realtors know where expats should live. They will probably steer you towards Punta Paitilla (Pie-TEE-ya) or Punta Pacifica, the upper class neighborhoods. El Cangrejo is a good choice too for "non-Corporate" budgets, and is a more "Soho-ish", hip part of town," said one expat who made the move to Panama City.
"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," explained one foreigner living in Panama City, Panama.
What is a typical expat home or apartment like in Panama City?
About the Author
Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.
- What do I need to know before moving to Panama City?
- What is a typical expat home or apartment like in Panama City?
- What is the average cost of housing in Panama City?
- How do I meet people in Panama City?
- What do I need to know before retiring in Panama City?
- What should I pack when moving to Panama City?
- Where should I setup a bank account in Panama City?
- Will I be able to find a job in Panama City?
- What is life like as an expat in your area?
- What do people like (and dislike) about Panama City?
- What type of social life can someone expect in Panama City?
- What is the social scene like in Panama City?
- What advice to expats in Panama City have about housing?
- What are medical services in Panama City like?
- Are healthcare and health insurance expensive in Panama City?
- Is the cost of living in Panama City high?
- What are the visa & residency requirements in Panama City?
- Why do people move to Panama City?