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Property prices in Panama

Hello everyone,

Finding affordable housing in Panama is number one priority for newcomers. Tell us more about the estate market in your district/city/region.

What are the most desired places to live? What are the most affordable ones? What is the average cost of a rented flat? And what is the average sale price for an appartment or a house? Could you tell us more about local real estate policies/procedures? What about property tax or residency tax in Panama?

What about you? Where do you live now? Is it a place you would recommend?

Thank you in advance for your clarifications.

Priscilla

The most desired place? Where YOU are happy, which is different for everyone.

Affordable? not where there are a lot of expats, and rural is cheaper than city. Avoid Panama City if you are trying to save money.

Average cost? to rent? In Panama City? $1000-1500, I have heard, for something nice. Interior, depends on what you want. I know someone who has a room for $50, someone who has a small house in a small town in Chiriqui for $125, and big houses down the road from us cost $1000+. We pay $385 for an unfurnished 3/2 in a middle class neighborhood in the north side of David, and some locals think that is a bit expensive.

We rent - simple, sign a lease, hand over one month rent, security deposit, leave with keys in hand. Our agent stops by every month to pick up the rent. Others have an arrangement where they deposit it into the bank account of the landlord.

Others can answer questions about owning, buying, taxes, etc.

What is a residency tax? I don't think we have that here.

Well, I once found a house for $ 50/month...a typical small hose with a large garden. I opted to live in David when I visit Panama and rent a room in  a big house - share the kitchen and all else - and above all, the family are all out to help me and listen to my European tales:-) I always like to live with local people to learn the language.

I have recently returned to Europe and have to say, again, that everything in Panama has risen in price. I found even dentistry cheaper in Spain where I am moving next year.

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