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Real Estate in San Carlos, Panama | Expat Exchange
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Real Estate in San Carlos, Panama

By Joshua Wood, LPC

Last updated on Apr 01, 2023

Summary: Expats and retirees talk about real estate in San Carlos, Panama? How do you find a home in San Carlos? Should you buy or rent? What is the cost of housing?

Business Panama Group
Business Panama Group
Business Panama Group
Business Panama Group

How do I find a place to live in San Carlos?

We asked expats how they chose their neighborhood and found a place to live. They answered:

"Finding a place to live in San Carlos involves several steps. First, you need to determine your budget and what type of accommodation you are looking for. This could range from a small apartment to a large house, depending on your needs and financial situation. Next, you should research the different neighborhoods in San Carlos to find one that suits your lifestyle and preferences. Some people might prefer a quiet, residential area, while others might want to be closer to the city center with its shops, restaurants, and nightlife. Once you have a good idea of what you're looking for, you can start your search. There are several online real estate portals that list properties for rent or sale in San Carlos, such as Encuentra24 and CompreoAlquile. These websites allow you to filter your search based on location, price, size, and other features. In addition to online searches, you might also want to consider hiring a local real estate agent. They can provide valuable insight into the local market, help you negotiate prices, and guide you through the legal process of renting or buying a property in Panama. Visiting San Carlos in person is also a good idea if possible. This allows you to get a feel for the city, visit potential homes, and meet with real estate agents or landlords. Remember to take your time and not rush into any decisions. Finally, once you've found a place you like, make sure to thoroughly read the rental or purchase agreement before signing. If you're not fluent in Spanish, it might be worth hiring a translator to ensure you fully understand the contract. Remember, finding a place to live in a new city or country can be challenging, but with patience and careful planning, you can find a home that's right for you in San Carlos, Panama," explained one expat living in San Carlos, Panama.

Kovalenko & Vera Attorneys at Law in PanamaKovalenko & Vera Attorneys at Law in Panama
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Kovalenko & Vera is a Panamanian law firm that specializes in immigration law, corporate law, real estate law, banking, contract negotiation, taxes and flag registry. With more than 20 years of professional practice, Kovalenko & Vera builds lasting relationships with our clients to ensure your interests are safeguarded.

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Kovalenko & Vera Attorneys at Law in PanamaKovalenko & Vera Attorneys at Law in Panama

Kovalenko & Vera is a Panamanian law firm that specializes in immigration law, corporate law, real estate law, banking, contract negotiation, taxes and flag registry. With more than 20 years of professional practice, Kovalenko & Vera builds lasting relationships with our clients to ensure your interests are safeguarded.
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What is a typical expat home or apartment like in San Carlos?

"Expat homes in San Carlos, are typically spacious and comfortable, designed to accommodate the tropical climate. They often feature open floor plans to allow for natural ventilation and light. Many homes have large patios or balconies, perfect for enjoying the warm weather and beautiful views. The architecture often blends modern and traditional Panamanian styles, with high ceilings, tiled floors, and wooden accents. Kitchens are usually fully equipped with modern appliances, and living areas are furnished with comfortable seating. Bedrooms are often air-conditioned, and bathrooms are typically modern and well-maintained. Many expat homes also have private pools or access to community pools, and are located within gated communities for added security. These homes are often surrounded by lush tropical gardens, and are located close to local amenities such as shops, restaurants, and healthcare facilities. Some are even within walking distance to the beach. Despite the luxurious features, these homes blend seamlessly into the local landscape, offering expats a comfortable and authentic Panamanian living experience," remarked one member in San Carlos.

Kovalenko & Vera Attorneys at Law in Panama

Kovalenko & Vera is a Panamanian law firm that specializes in immigration law, corporate law, real estate law, banking, contract negotiation, taxes and flag registry. With more than 20 years of professional practice, Kovalenko & Vera builds lasting relationships with our clients to ensure your interests are safeguarded.

Learn MoreConnect

Click connect to have our partner contact you via e-mail and/or phone.

Kovalenko & Vera Attorneys at Law in Panama

Kovalenko & Vera is a Panamanian law firm that specializes in immigration law, corporate law, real estate law, banking, contract negotiation, taxes and flag registry. With more than 20 years of professional practice, Kovalenko & Vera builds lasting relationships with our clients to ensure your interests are safeguarded.

Learn MoreConnect

Click connect to have our partner contact you via e-mail and/or phone.

What is the average cost of housing in San Carlos?

If you are thinking about moving to San Carlos, cost of living in probably a key consideration. Expats commented about the cost of housing:

"The average cost of housing in San Carlos, can vary greatly depending on the type and location of the property. For a standard family home, prices can range from affordable to quite expensive. Luxury homes and beachfront properties are typically on the higher end of the price spectrum. However, compared to many other popular expat destinations, San Carlos offers a relatively affordable cost of living. It's always recommended to visit and explore the area in person to get a better understanding of the housing market and living costs," explained one expat living in San Carlos, Panama.

Should I buy or rent a home in San Carlos?

If you have not spent a lot of time in San Carlos, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:

"The decision to buy or rent a home in San Carlos, largely depends on your personal circumstances, financial situation, and long-term plans. If you plan to stay in Panama for a long time, buying a home could be a good investment. Owning a property allows you to build equity over time and could provide a sense of stability and permanence. On the other hand, renting might be a better option if you're not sure about your long-term plans or if you prefer not to have the responsibilities of home ownership. Renting can offer more flexibility, as it's easier to move if your circumstances change. It also means you won't have to worry about maintenance costs or property taxes. It's also important to consider the real estate market in San Carlos. If property prices are high and continue to rise, buying a home could be a good investment. However, if prices are low or stagnant, it might be more cost-effective to rent. Finally, consider your financial situation. Buying a home requires a significant upfront cost, including a down payment and closing costs. If you don't have enough savings, renting might be a more feasible option. In conclusion, the decision to buy or rent a home in San Carlos, Panama, should be based on your personal circumstances, financial situation, and long-term plans. It's always a good idea to consult with a real estate professional or financial advisor before making such a significant decision," said one person in San Carlos.

What do I need to know when buying property in San Carlos?

When we asked expats what advice they would give a foreigner before buying a property in San Carlos, they said:

"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," remarked one foreigner who made the move to San Carlos.

Are foreigners allowed to own property in San Carlos?

When we asked expats what advice they would give a foreigner before buying a property in San Carlos, they said...

"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," explained one expat in San Carlos.

Additional Information about Searching for a Home in San Carlos:

When we asked expats in San Carlos if foreigners are allowed to own property, they answered...

"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.

About the Author

Joshua Wood 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.

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