Accommodation in Panama

Take embassies, for instance: although the capital is the logical place to find these, the US embassy sends representatives to David and Boquete from time to time, which might suit some people.

If you're aiming to set up a small business relying on local trade, you'll need to visit and research several places before deciding where to plump for.

For pure retirement and a leisurely lifestyle, there are centers such as Coronado, on the Pacific coast a couple of hours' drive from Panama City. When city dwellers say they're going to the beach for the weekend, this is usually where they mean. And this coast is full of golf courses too.

Formalities

In general, the lease's terms and conditions, as well as the rent price can be negotiated with the owner. Once you have dealt with this, you can sign your lease documents and register these with the Ministry of Housing's Lease Directorate. This will ensure your safety and your rights as a tenant.

You will also have to pay a guarantee fee which is equivalent to one month's rent to the Lease Directorate. It's a standard deposit, refundable if you leave the place as you found it.

Cost of rent in Panama

Rent prices vary according to cities and regions, the type of accommodation and the comfort level. Thus, the price of a single bedroom apartment (as of 2017) can be anything between 700 and US$ 1,400 in the capital and 400 and US$ 500 in rural areas. For a three bedroom apartment in the capital, you will pay between US$ 1,200 and 2,500 per month for rent. In other areas, you will be required to pay between 500 and US$ 1,000 per month.

As economic conditions fluctuate, there are bargains to be had. At the time of writing, for instance, there were plenty of empty apartments in condominiums on the Pacific coast and in other areas, so there is scope for negotiation.

Real estate agents will, of course, be only too pleased to give advice and point you in the direction of properties advantageous to them, but it's worth doing some internet research to get a more general picture first.

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