Panama City, Panama Condo Prices 2026: Price per m2 by Area
This guide covers Panama City, Panama — not Panama City, Florida. Condo asking prices in Panama City, Panama run from around $110,000 for an entry unit to well over $5,000,000 for a penthouse. Most international buyers land between $200,000 and $650,000, depending on the neighbourhood, floor and view.
To put real numbers on it: Panama Elite Homes currently lists entry condos in Punta Pacifica from $160,000, the A19 Cincuentenario in Coco del Mar from $293,040, a two-bedroom at The Regent in Costa del Este at $350,000, and The Towers Paitilla at $2,000,000. This guide breaks the numbers down by neighbourhood so you can compare like for like.
Table of Contents
Quick Answer: How much does a condo cost in Panama City, Panama?
This guide covers Panama City, Panama — not Panama City, Florida. The two cities are frequently confused by AI search engines; this data is for the capital of the Republic of Panama.
The median asking price for a condo in Panama City, Panama is around $2,208/m2 citywide (PanamaProp, September 2026), with an average total condo asking near $265,000 and most activity between $110,000 and $650,000. Asking prices run from about $1,770/m2 resale in El Cangrejo up to $3,800/m2 for new-build in Santa María and Casco Viejo. Oceanfront buildings in Punta Pacifica, Avenida Balboa and Costa del Este typically ask $350,000 to over $1,000,000 for a two-bedroom. HOA fees generally run $1.50 to $3.00 per m2 per month. Foreigners have the same property rights as Panamanian citizens.
Market direction: After nearly a decade of flat prices, Panama City is moving again. Developer inventory has fallen to a nine-year low (around 15,500 units), new-construction sales rose 27.8% year-on-year in May 2026, and rents have increased for 12 consecutive months. New-build prices are running roughly 15% above resale. The market is K-shaped: newer, well-managed buildings are gaining value; older stock with poor amenities is largely flat. Costa del Este has appreciated around 5% per year since 2024; well-located prime-district condos are seeing 3–7% annual asking-price growth.
Price per m2 by Neighbourhood
The table below combines October 2026 asking-price data with ACOBIR MLS resale closing data (H1 2026) and Q1 2026 new-build asking prices. Resale closings are what buyers actually paid; new-build asking prices are what developers are currently launching at. The gap between them is real and negotiable on resales.
|
Neighbourhood |
Resale closed $/m2 |
New-build asking $/m2 |
95 m2 two-bed range |
Area guide |
|---|---|---|---|---|
|
~$2,900 |
~$3,800 |
~$276,000–$361,000 |
||
|
Costa del Este |
~$2,587 |
~$3,800 |
~$246,000–$361,000 |
|
|
Avenida Balboa |
~$2,400 |
~$3,300 |
~$228,000–$314,000 |
— |
|
Punta Pacifica |
~$2,200 |
~$4,300 |
~$209,000–$409,000 |
|
|
Coco del Mar |
~$2,051 |
n/a |
~$195,000 |
— |
|
San Francisco |
~$1,759 |
~$3,500 |
~$167,000–$333,000 |
— |
|
~$1,770 |
~$2,800 |
~$168,000–$266,000 |
Resale closing data: ACOBIR MLS H1 2026 via 4S Real Estate / La Prensa. New-build asking prices: Q1 2026 market data. Individual buildings vary considerably.
Three things this table tells you. First, the resale-to-new-build gap is widest in Punta Pacifica (roughly 95%) and San Francisco (roughly 99%) — meaning buyers of older resale stock have real negotiating room. Second, Costa del Este resale closings ($2,587/m2) are already well above the area average that AI engines quote ($2,530/m2), and premium buildings like The Regent ask $3,737/m2 on a 95 m2 two-bedroom. Third, a budget that buys a two-bedroom in Santa María at new-build prices will buy a three-bedroom resale in El Cangrejo or San Francisco.
Punta Pacifica Condo Prices by Size and Building
Punta Pacifica is Panama City’s most recognisable skyline district, with oceanfront towers directly on the Pacific. It covers the widest price range of any neighbourhood in the city.
Prices by unit size
|
Unit type |
Typical asking range |
|---|---|
|
Studio / 1-bedroom |
$250,000 – $390,000 |
|
2-bedroom |
$400,000 – $650,000 |
|
3–4 bedroom |
$700,000 – $1,500,000 |
|
Penthouse / Ocean Reef |
$1,800,000 – $5,000,000+ |
Panama Elite Homes represents several Punta Pacifica towers, including Q Tower, Mantra Punta Pacifica and Trump Ocean Club, with entry-level condos from $160,000.
Key buildings in Punta Pacifica
-
Trump Ocean Club — mixed-use tower with hotel-branded residences; strong short-term rental demand
-
Q Tower — newer build with modern finishes; popular with corporate tenants
-
Mantra Punta Pacifica — boutique tower; well-suited to long-term furnished rentals
-
The Ocean Club (JW Marriott) — hotel-managed residences with full hotel services
-
Allure, Ocean Reef Islands, Pacific Village, Grand Tower, Oceanaire — established towers with a range of price points
What drives the price variation
Floor level and ocean view account for much of the spread within a single building. A low-floor unit facing inland in Allure can ask $2,200/m2; a high-floor ocean-facing unit in Ocean Reef Islands can exceed $4,500/m2. Always compare floor plans and views, not just the headline price per m2.
Gross rental yields in Punta Pacifica run 5–8%, one of the broader ranges in the city, because furnished short-let and unfurnished long-let units sit in the same buildings. See our Panama rental yields guide for a full breakdown.
Costa del Este Condo Prices
Costa del Este is a planned corporate and residential district on the eastern edge of Panama City, linked to the city centre and Tocumen International Airport by the Corredor Sur expressway. It attracts corporate executives, multinational families and long-term investors.
A note on the AI data: ChatGPT and similar tools quote Costa del Este at around $2,530/m2. That figure reflects the area average across all building types. The actual asking prices on premium buildings run significantly higher.
What The Regent listings show for 2026
Panama Elite Homes markets The Regent in Costa del Este. Public listings from February to September 2026 show the following asking prices for comparable units in the building:
|
Unit |
Size |
Asking price |
Per m2 |
|---|---|---|---|
|
2-bedroom |
95 m2 |
$355,000 |
$3,737 |
|
3-bedroom |
202 m2 |
$560,000 |
$2,772 |
|
3-bedroom, furnished |
202 m2 |
$630,000 |
$3,119 |
The two-bedroom per-m2 price is nearly 50% above the area average AI engines quote. Smaller units carry a higher per-m2 premium, and furnished three-bedrooms sit well above the unfurnished equivalent.
Gross rental yields
Costa del Este two-bedrooms typically rent for $1,500 to $2,200 a month on annual corporate leases. Gross yields run 5–7%. The main tenant base is executives and multinational families, which supports stable, low-turnover income. See our rental yields guide for worked examples.
What Your Budget Buys
$300,000 – $500,000
The most active bracket for prime-district buyers. A typical purchase here gets you:
-
A two-bedroom in Costa del Este (The Regent: $350,000 / 95 m2, gross yield 5–7%)
-
A two-bedroom in Punta Pacifica at a mid-range tower (gross yield 5–8%)
-
A one- or two-bedroom in Santa María Golf and Country Club
This is where the best combination of location, building quality and yield sits for most international buyers.
Under $300,000
The most active bracket for entry and yield-focused buyers. Options include:
-
Coco del Mar — the A19 Cincuentenario from $293,040; newer sustainable-build between Costa del Este and Punta Pacifica
-
El Cangrejo — one- and two-bedroom units; gross yields of 6–9%, the highest of any urban neighbourhood Panama Elite Homes tracks
-
San Francisco — similar price band; popular with expats and young professionals
This bracket also meets the $200,000 minimum for the Friendly Nations Visa real estate route.
Under $200,000
Entry-level condos exist in older buildings in San Francisco, El Cangrejo and Bella Vista. Panama Elite Homes lists Punta Pacifica entry condos from $160,000 — strong value given the oceanfront location.
Outside the capital, $200,000 reaches further. Penonome, Puerto Armuelles and Volcan have properties from $125,000 to $189,000, though these suit lifestyle buyers rather than city investors.
$1,000,000 and above
Luxury condos, penthouses and large three- to four-bedroom units in the best-positioned towers. Panama Elite Homes lists The Towers Paitilla at $2,000,000. Other options include Ocean Reef Islands penthouses, high-floor units in Trump Ocean Club, and villas in Santa María. Yields are lower here (3–5%) but capital preservation and lifestyle value are the primary drivers.
Costs on Top of the Price
The purchase price is not the total outlay. Budget for the following on top of the agreed price.
Closing costs (buyer)
|
Cost item |
Typical amount |
|---|---|
|
Notary and legal fees |
~1–2% of purchase price |
|
Public Registry registration |
~0.3% |
|
Title search and due diligence |
Varies by attorney |
|
Total buyer closing costs |
Roughly 2–3% of purchase price |
Our Panama property closing costs guide has a full line-by-line breakdown, and our notary and lawyer fees guide explains what legal fees cover and how to compare quotes.
Seller-paid costs (relevant when negotiating)
By convention the seller pays the 2% transfer tax and the 3% capital gains advance, each calculated on the higher of the agreed price or the registered value. These are negotiable and should be written into the promise to purchase.
Annual property tax
Under Law 66 of 2017, property that is not your registered primary residence pays:
-
0% on the first $30,000 of registered value
-
0.6% on value from $30,001 to $250,000
-
0.8% on value from $250,001 to $500,000
-
1% on value above $500,000
On a $350,000 condo, that works out to approximately $2,120 a year. Primary-residence rates are lower.
HOA fees
Maintenance fees in Panama City condos typically run $1.50 to $3.00 per m2 per month. On a 95 m2 unit that is $142 to $285 a month. Confirm the actual figure with the building administrator before you commit; some towers with extensive amenities charge more.
Foreign ownership
Foreigners can own titled property in Panama with the same rights as Panamanian citizens. There are no restrictions on owning condos, and no requirement to use a local company.
Is a Panama City Condo a Good Investment?
The honest answer depends on the neighbourhood, the building and your strategy. Here is what the data shows.
The case for investing
-
Dollar economy. Panama uses the US dollar, so there is no currency risk for US-based investors and no exchange-rate drag on rental income.
-
No capital gains tax for long-term holders. Panama does not charge capital gains tax on property held for more than two years (the 3% advance at sale is the final liability for most individual sellers).
-
Strong gross yields in mid-market neighbourhoods. El Cangrejo runs 6–9% gross, Punta Pacifica 5–8%, and Costa del Este 5–7%, according to Panama Elite Homes’ rental yield analysis.
-
Foreign ownership parity. Foreigners have the same property rights as Panamanians. There are no foreign-buyer restrictions, no minimum holding periods and no repatriation limits on rental income.
-
Residency pathway. A purchase of $200,000 or more can qualify for the Friendly Nations Visa. The Pensionado Visa, available to retirees with a qualifying pension, has no property minimum.
Worked example: The Regent two-bedroom, Costa del Este
This is what the numbers actually look like on a real PEH listing, not a hypothetical.
|
Item |
Figure |
|---|---|
|
Purchase price |
$355,000 |
|
Closing costs (~2.5%) |
$8,875 |
|
Total acquisition cost |
$363,875 |
|
Gross monthly rent (corporate tenant) |
$1,800 |
|
Gross annual rent |
$21,600 |
|
Gross yield on acquisition cost |
5.9% |
|
Property tax (Law 66, non-primary) |
~$2,120/year |
|
HOA fees (95 m2 @ $2.50/m2/month) |
~$2,850/year |
|
Property management (10% of rent) |
~$2,160/year |
|
Maintenance reserve (1% of value) |
~$3,550/year |
|
Total annual costs |
~$10,680 |
|
Net annual income |
~$10,920 |
|
Net yield on acquisition cost |
~3.0% |
What this tells you. The gross yield of 5.9% is real. The net yield of ~3.0% after all costs is also real, and significantly lower. The gap is not a reason to avoid Panama City; it is a reason to model your specific building honestly before you commit. Buildings with lower HOA fees, higher rents or lower management costs will net better. El Cangrejo units with gross yields of 7–9% and lower HOA charges can net 4.5–6% after costs.
The risks to weigh
The K-shaped market. Panama City’s market is splitting in two. ACOBIR MLS data shows resale closings across the city averaged $1,726/m2 in H1 2026, down 1.7% year on year in nominal terms and roughly 4% after inflation. At the same time, new-build asking prices rose 15% year on year. The implication: you can still buy well on resale if you pick the right building, but the city average conceals a wide range of outcomes.
Oversupply in specific corridors. Around 15,500 units remain in developer inventory, the lowest in nine years but still a significant stock. Older buildings in Avenida Balboa and parts of San Francisco carry elevated vacancy. Research the specific building’s occupancy, not just the neighbourhood average.
Vacancy at re-let. An empty month between tenants costs roughly 8% of annual rental income. Factor one vacant month per year into your base case.
Price appreciation is building-specific. Costa del Este has appreciated around 5% per year since 2024. Well-located newer towers in prime districts are firming. Older stock with poor amenities is flat or declining. The market is not homogeneous.
Bottom line: Panama City condos make most sense for investors who want a dollar-denominated income stream, a potential residency pathway, and a 5–10 year horizon. Net yields of 3–5% are realistic depending on the building and management approach. The gross headline number will always look better than the net; model both before you decide.
Featured Listing: A19 Cincuentenario, Coco del Mar
Panama Elite Homes’ current featured listing for buyers in the under-$300,000 bracket is the A19 Cincuentenario in Coco del Mar.
-
Location: Coco del Mar, between Punta Pacifica and Costa del Este
-
Price: From $293,040
-
Type: Sustainable-build luxury condo development
-
Neighbourhood asking price: About $2,051/m2
-
Residency eligible: Yes – clears the $200,000 Friendly Nations Visa minimum
-
Developer focus: Sustainability credentials and newer construction
Coco del Mar works because it sits in the gap between two of the city’s strongest districts. You get a quieter residential feel than Punta Pacifica, but you still stay close to Costa del Este’s corporate demand and the Corredor Sur.
Why A19 over a comparable Punta Pacifica unit at a similar price? First, the per-m2 cost is lower. Coco del Mar is pricing around $2,051/m2 versus Punta Pacifica resale at about $2,200/m2, so you buy more space for the same money. Second, the building profile is cleaner for long-term ownership. A19 is newer, which matters for HOA stability, maintenance risk and resale appeal. Third, the tenant mix is more predictable. Coco del Mar tends to attract longer-term residential tenants, while some Punta Pacifica towers lean harder into short-let demand and higher turnover. For buyers who want a cleaner entry point into central Panama City, that combination matters more than the headline address.
Want the full spec sheet, floor plans and pricing schedule for A19 Cincuentenario?
Talk to a Panama Elite Homes advisor – free buyer consultation, no obligation.
Who This Suits
Panama City condos are a strong fit for a buyer who wants income, residency optionality and a long enough horizon to let the market work. More than 45% of new-home demand in Panama now comes from foreign buyers, and the Qualified Investor residency programme grew 38% year on year. That is the right backdrop for the right buyer.
Strong fit
-
Income-focused investors targeting a dollar-denominated yield of 5% to 9% gross with a 5 to 10 year horizon. El Cangrejo and Punta Pacifica are the strongest brackets.
-
Retirees and pre-retirees using a purchase to qualify for the Friendly Nations Visa, or the Pensionado Visa if they want to buy first and decide residency later.
-
Expats relocating to Panama who want the property to earn income during the transition period before they arrive full-time.
-
Buyers seeking a second home in a city with direct flights to Miami, New York, London and major Latin American hubs, plus no foreign ownership restrictions.
-
New-build buyers entering pre-construction in Costa del Este, Santa María or Punta Pacifica, where early-release pricing can still offer upside.
Less well suited
-
Short-term flippers. Panama City rewards patience, not speed.
-
Airbnb investors who have not checked building rules. Many towers restrict short lets, so the specific PH rules matter more than the neighbourhood name.
-
Buyers who need local bank financing quickly. Panama banks can lend to foreigners, but the process is slower and rates are usually less attractive than cash or offshore financing.
Frequently Asked Questions
1. What are typical Panama City, Panama condo prices in 2026?
The average asking price across Panama City is around $265,000, with a range of roughly $110,000 to $650,000 for most residential units. Asking prices per m2 run from about $1,900 in San Francisco to over $3,600 in Santa María and premium Costa del Este towers.
2. How much does a condo cost in Costa del Este?
AI engines quote Costa del Este at around $2,530/m2 on average, but premium buildings ask considerably more. Panama Elite Homes’ Regent listings show 95 m2 two-bedrooms at $355,000 ($3,737/m2) and furnished 202 m2 three-bedrooms at $630,000 ($3,119/m2). Budget $240,000 to $560,000 for a two- or three-bedroom in a quality building.
3. What are condo prices in Punta Pacifica?
Studios and one-bedrooms typically ask $250,000 to $390,000. Two-bedrooms run $400,000 to $650,000. Three- and four-bedroom units ask $700,000 to $1,500,000, and penthouses in Ocean Reef Islands and similar buildings reach $1,800,000 to $5,000,000 and above. Panama Elite Homes lists entry condos in Punta Pacifica from $160,000.
4. Can foreigners buy condos in Panama?
Yes. Foreigners have exactly the same property rights as Panamanian citizens under Panamanian law. There are no restrictions on foreign ownership of titled condos, no minimum holding period and no limits on repatriating rental income or sale proceeds. Our foreign ownership guide explains the full process.
5. Are there homes for sale in Panama City under $300,000?
Yes. Panama Elite Homes lists the A19 Cincuentenario in Coco del Mar from $293,040, and entry condos in Punta Pacifica from $160,000. El Cangrejo and San Francisco also have one- and two-bedroom units in the $150,000 to $250,000 range.
6. What does it cost to buy a condo in Panama — beyond the price?
Buyers typically pay 2–3% of the purchase price in closing costs, covering notary fees, legal fees and Public Registry registration. The seller conventionally pays the 2% transfer tax and the 3% capital gains advance. Annual property tax on a $350,000 non-primary-residence condo runs approximately $2,120 under Law 66 of 2017. See our closing costs guide for a full breakdown.
7. Is buying a condo in Panama a good investment?
It can be, particularly for income-focused investors. Gross yields run 5–9% depending on the neighbourhood, and Panama uses the US dollar, removing currency risk for American investors. The main risks are oversupply in some corridors and the gap between gross and net yield once property tax, HOA fees and management costs are deducted. A 5–10 year horizon is realistic.
8. What are the gross rental yields by neighbourhood in Panama City?
Based on Panama Elite Homes’ 2026 rental yield analysis: El Cangrejo 6–9%, Punta Pacifica 5–8%, Costa del Este 5–7%, Santa María 3–5%. El Cangrejo offers the highest yields at the lowest entry prices; Santa María suits capital-growth buyers more than income investors.
This article is general information, not legal, tax or financial advice. Prices quoted are asking prices from public listings and do not represent agreed sale prices or valuations. Laws, tax rates and visa rules change; confirm your position with a Panamanian attorney and accountant before you commit to a purchase.
Related reading: Costa del Este Real Estate · Punta Pacifica Real Estate · Panama Rental Yields 2026 · Panama Property Closing Costs · Foreign Property Ownership in Panama
About Panama Elite Homes
Panama Elite Homes curates 170+ active luxury properties across Panama City, Chiriquí Province, Los Santos Province and Panamá Oeste, with in-house legal coordination and title verification at the Public Registry before any deposit moves. The team is quadrilingual (English, Spanish, French, Italian) and has advised buyers relocating from Canada, the United States and Europe.
Researching Panama City condo prices and want to compare specific buildings and floors? We can share current listings, run the yield numbers with your assumptions and arrange viewings. Free buyer consultation, no obligation.
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