Real Estate in 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.

"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," remarked one member in Bocas del Toro.

"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," explained one expat living in Alto Boquete, 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," said one person 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," said one expat in Panama.

"Right now, my room is comparable in size to a prison cell, but it's clean, there is WiFi, a TV,a desk, a small fridge, and my own bathroom. (Only window is in the bathroom!) Oh, and a bed! A communal kitchen/lounge is available when wanted. Last night was as noisy as all get-out. Hope it won't be a regular thing-earplugs, perhaps. This area is VERY popular with expats; fortunately I know a few of them, so I have someone to advise and direct me, if I need help," remarked one member 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 expat living in Bocas del Toro, Panama.

"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," said one person in Boquete.

"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.

"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," explained one expat living in Panama.

"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," said one person in Panama City.

"Yes. a condo. Process is kind of sloppy. A bit tricky. Need a good attorney. a lot of patience," said one expat who made the move to Panama City.

"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," remarked one foreigner who made the move to Boquete.

"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," said one expat in 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.

"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 expat living in San Carlos, 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," said one in San Carlos.

"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," explained one person 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," said one expat in Nueva Gorgona.

"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," explained one person living 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 expat in San Carlos.

"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," said one foreigner 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," explained one expat living in Boquete, Panama.

"Keller Williams Realty Panama is one of the best countrywide real estate companies in Panama and they are aactive listing on the MLS, called ACOBIR in Panama. Debbie Fishell is an active Keller Williams associate who works primarily in the Chiriqui province [email protected]. There is a good site on the up and coming area of Puerto Armuelles called visitPuertoArmuelles.com, which has a classified section with some for sale by owner properties," said one person in Puerto Armuelles.