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:

"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 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.

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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.

Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.