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," said one person in Alto Boquete.

"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," explained one foreigner living 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 in Panama City.

"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.

"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," explained one expat living in 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.

"We are renting a home. It is typical housing; concrete outside. This home has a lot of wood including ceilings. We just paid for an exterminator to gas the house. It is large. It has 4 bedrooms, one barely larger than a closet. The kitchens in older homes have no drawers. Think table service settings. Small countertop, limited storage in overhead cabinets. My eating area has steel shelving that I brought from the US. It provides storage for the mixer, baking equipment extra dishes and bowls. It's has a very Restoration Hardware look about it. I think that new construction has limited storage space as well. If you have books or dvds, buy shelving. Linen closets often don't exist. I store my linens and fabric in antique suitcases. Even if you buy kitchenware in Panama, you have to store it somewhere," said one expat who made the move to Alto Boquete.

"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 foreigner living in Bocas del Toro, 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.

"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," said one expat who made the move to Nueva Gorgona.

"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 foreigner living in Las Tablas, Panama.

"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," said one in Taboga Island.

"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," explained one expat in 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," explained one person living in 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," wrote one expat who made the move to San Carlos.

"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," said one in Puerto Armuelles.

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

"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," explained one person living in Puerto Armuelles, Panama.