Authored by the expert who managed and guided the team behind the Panama Property Pack
Everything you need to know before buying real estate is included in our Panama Property Pack
This article covers the current housing prices in Panama, giving you a clear picture of what properties cost across different neighborhoods, property types, and budget levels.
We constantly update this blog post to reflect the latest market data, so you always have access to fresh and reliable information.
And if you're planning to buy a property in this place, you may want to download our pack covering the real estate market in Panama.
Insights
- In Panama in 2026, closed property prices typically land about 8% below the listing price, meaning buyers who negotiate can save around $16,000 on a $200,000 condo.
- New construction in Panama commands roughly a 15% premium per square meter over existing homes, driven by bundled amenities and prime corridor locations.
- About 70% of Panama City's residential listings are high-rise apartments, making condos the dominant property type for buyers in 2026.
- Smaller 1-2 bedroom apartments in prime Panama neighborhoods have the highest price per square meter because buyers pay both a location premium and a "small-size" resale advantage.
- Panama's preferential mortgage interest program for first-time buyers helps keep entry-level and mid-market properties more liquid than luxury units.
- Over the past 10 years, Panama housing prices rose about 45% in nominal terms but only around 30% after adjusting for inflation, showing moderate real growth.
- Punta Pacifica in Panama has the highest price per square meter in 2026, ranging from $2,700 to $3,400 per sqm, while Betania offers the most affordable rates at $1,450 to $1,900 per sqm.
- A $500,000 budget in Panama in 2026 can get you a newer 3-bedroom condo of 140-200 sqm in Costa del Este, one of the most sought-after family neighborhoods.
What is the average housing price in Panama in 2026?
The median housing price is more telling than the average because it represents the middle of the market, meaning it is not skewed by a small number of ultra-expensive luxury properties that can inflate the average.
We are writing this as of January 2026, using the latest data collected from authoritative sources like ACOBIR, UTDT, and INEC, which we manually double-checked for accuracy.
The median housing price in Panama in 2026 is $160,000 (around €136,000), while the average housing price in Panama in 2026 is $245,000 (around €208,000). Since Panama uses the US dollar as its currency, there is no separate local currency conversion needed.
About 80% of residential properties in Panama in 2026 fall within a price range of $90,000 to $450,000 (€77,000 to €383,000).
A realistic entry range in Panama in 2026 is $80,000 to $120,000 (€68,000 to €102,000), which can get you an existing 1-2 bedroom apartment of 55-75 sqm in areas like outer Juan Diaz or Panama Oeste (Arraijan or La Chorrera) in an older building with basic amenities.
A typical luxury property in Panama in 2026 ranges from $900,000 to $2,500,000 (€765,000 to €2,125,000), which can get you an ocean-view 3-4 bedroom condo of 250-400 sqm in Punta Pacifica or Costa del Este, located on a high floor or penthouse level in a newer tower with full amenities.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Panama.
Are Panama property listing prices close to the actual sale price in 2026?
In Panama in 2026, closed prices are typically about 8% below the listing price.
This gap exists because most sellers in Panama list with a built-in negotiation buffer, expecting counteroffers, and banks often push buyers to renegotiate when appraisals come in lower than asking prices. The discount tends to be smaller in fast-moving entry-level segments and larger in the luxury market where buyers have more negotiating power.
Get fresh and reliable information about the market in Panama
Don't base significant investment decisions on outdated data. Get updated and accurate information with our guide.
What is the price per sq m or per sq ft for properties in Panama in 2026?
As of January 2026, the median housing price in Panama is $1,850 per sqm ($172 per sqft), which is around €1,570 per sqm (€146 per sqft). The average housing price in Panama is $2,050 per sqm ($190 per sqft), which is around €1,740 per sqm (€161 per sqft).
Smaller, well-located 1-2 bedroom apartments in prime Panama neighborhoods have the highest price per sqm because buyers pay a premium for location, amenities, and easier resale, while larger older units farther from the city center have the lowest price per sqm due to age, condition, and longer commute times.
In Panama in 2026, the highest prices per sqm are found in Punta Pacifica and Costa del Este, ranging from $2,700 to $3,400 per sqm. The lowest prices per sqm are found in Betania and Pueblo Nuevo, ranging from $1,450 to $1,900 per sqm.
How have property prices evolved in Panama?
Compared to one year ago (January 2025), Panama housing prices have increased by about 3% in nominal terms and roughly 3% in real terms since Panama inflation has been very low. This stability was supported by the government's preferential mortgage interest program for first-time buyers, which kept demand strong in entry and mid-level price segments.
Compared to ten years ago (January 2016), Panama housing prices have increased by about 45% in nominal terms and around 30% after adjusting for inflation. This long-term growth was driven by Panama City's shift toward premium high-rise living and international buyer demand concentrated in globalized submarkets like Costa del Este and Punta Pacifica.
By the way, we've written a blog article detailing the latest updates on property price variations in Panama.
Finally, if you want to know whether now is a good time to buy a property there, you can check our pack covering everything there is to know about the housing market in Panama.
We did some research and made this infographic to help you quickly compare rental yields of the major cities in Panama versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.
What types of properties are available in Panama and how do prices vary in 2026?
In Panama in 2026, about 70% of listings are high-rise apartments and condos, 15% are single-family houses, 10% are townhouses or duplexes, and 5% are luxury villas, because Panama City's real estate market is heavily vertical with most development focused on tower construction.
As of January 2026, studio and 1-bedroom apartments in Panama average around $120,000 (€102,000), 2-bedroom apartments average $190,000 (€162,000), and 3-bedroom apartments average $320,000 (€272,000). Townhouses and duplexes average around $260,000 (€221,000), single-family houses in city fringe areas average $280,000 (€238,000), and luxury penthouses or villas average $1,400,000 (€1,190,000).
If you want to know more, you should read our dedicated analyses:
- How much do properties cost in Panama?
- How much should you pay for a house in Panama?
- How much should you pay for lands in Panama?
How do property prices compare between existing and new homes in Panama in 2026?
In Panama in 2026, new construction properties command a premium of about 15% per square meter compared to existing homes.
This premium exists because new builds in Panama bundle modern amenities and lower immediate maintenance costs, and developers tend to position new projects in the most marketable corridors where buyers expect higher quality standards.
Buying real estate in Panama can be risky
An increasing number of foreign investors are showing interest. However, 90% of them will make mistakes. Avoid the pitfalls with our comprehensive guide.
How do property prices vary by neighborhood in Panama in 2026?
San Francisco is one of Panama's most popular expat neighborhoods, offering a central location with easy commutes and plenty of restaurants. Property prices in San Francisco in 2026 range from $220,000 to $650,000 (€187,000 to €553,000), reflecting its mix of mid-to-upper condos that attract both local professionals and international buyers.
Bella Vista and the Avenida Balboa corridor offer stunning ocean views and excellent walkability, making them highly desirable for buyers seeking a premium urban lifestyle. Property prices in Bella Vista in 2026 range from $250,000 to $900,000 (€213,000 to €765,000), with the higher end reserved for prime tower units with unobstructed views.
Costa del Este is a master-planned community popular with families, featuring international schools, green spaces, and newer towers. Property prices in Costa del Este in 2026 range from $350,000 to $1,200,000 (€298,000 to €1,020,000), reflecting its reputation as one of Panama's most premium family-friendly neighborhoods.
You will find a much more detailed analysis by areas in our property pack about Panama. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:
| Neighborhood | Category | Price Range ($) | Price per sqm ($) | Price per sqft ($) |
|---|---|---|---|---|
| San Francisco | Popular / Central | $220k - $650k | $1,900 - $2,700 | $176 - $251 |
| Bella Vista | Commute / Views | $250k - $900k | $2,100 - $3,000 | $195 - $279 |
| Costa del Este | Family / Premium | $350k - $1.2M | $2,200 - $3,200 | $204 - $297 |
| Punta Pacifica | Luxury / Views | $450k - $2.5M | $2,700 - $3,400 | $251 - $316 |
| Punta Paitilla | Luxury / Established | $400k - $1.6M | $2,400 - $3,200 | $223 - $297 |
| Obarrio | Commute / Business | $230k - $750k | $2,000 - $2,900 | $186 - $269 |
| Marbella | Commute / Premium | $250k - $850k | $2,100 - $3,000 | $195 - $279 |
| El Cangrejo | Popular / Walkable | $140k - $320k | $1,700 - $2,300 | $158 - $214 |
| Parque Lefevre | Value / Central | $130k - $480k | $1,650 - $2,350 | $153 - $218 |
| Betania | Value / Residential | $110k - $300k | $1,450 - $1,900 | $135 - $177 |
| Clayton | Family / Green | $350k - $900k | $1,600 - $2,400 | $149 - $223 |
| Casco Viejo | Boutique / Historic | $250k - $1.1M | $2,400 - $3,400 | $223 - $316 |
How much more do you pay for properties in Panama when you include renovation work, taxes, and fees?
In Panama in 2026, you should expect to pay an additional 4% to 12% on top of the purchase price to cover taxes, fees, and any renovation work.
If you buy a property around $200,000 in Panama, you can expect to add roughly $12,000 (about 6%) for transfer taxes, legal fees, notary costs, and basic closing expenses. This brings your total cost to approximately $212,000.
For a property around $500,000 in Panama, the additional costs would be roughly $30,000 (about 6%), bringing your total to approximately $530,000, assuming the property is newer and requires no major renovation work.
For a property around $1,000,000 in Panama, especially if it is an older unit needing updates, you might add $80,000 to $100,000 (8% to 10%) for taxes, fees, and renovation. This brings your total to approximately $1,080,000 to $1,100,000.
By the way, we keep updated a blog article detailing the property taxes and fees to factor in the total buying cost in Panama.
Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Panama
| Expense | Category | Estimated Cost and Details |
|---|---|---|
| Transfer Tax | Taxes | 2% of the property price. This is a statutory tax paid at the time of transfer. The exact allocation between buyer and seller can sometimes be negotiated in the purchase contract. |
| Advance Withholding | Taxes | 3% of the property price. This is a withholding mechanism applied to real estate transfers. In practice, this amount is often factored into the overall transaction cost structure. |
| Legal Fees | Fees | 0.5% to 1.5% of the property price ($1,000 to $15,000 for typical purchases). Covers attorney review of contracts, title verification, and closing coordination. More complex transactions cost more. |
| Notary Fees | Fees | 0.25% to 0.5% of the property price ($500 to $5,000 for typical purchases). Required for notarizing the deed and other legal documents involved in the transfer. |
| Registry Fees | Fees | 0.25% to 0.5% of the property price ($500 to $5,000 for typical purchases). Covers the cost of registering the new title with Panama's Public Registry. |
| Light Renovation | Renovation | $250 to $450 per sqm ($2,500 to $45,000 for a 100 sqm property). Includes painting, minor repairs, flooring updates, and basic fixture replacements for move-in ready condition. |
| Full Remodel | Renovation | $450 to $900 per sqm ($4,500 to $90,000 for a 100 sqm property). Includes kitchen and bathroom overhauls, electrical and plumbing updates, and structural improvements for older stock. |
| Furniture and Appliances | Setup | $5,000 to $30,000 depending on property size and quality preferences. Covers essential furnishings, kitchen appliances, and any electronics or decor needed for comfortable living. |
| HOA Catch-up or Reserves | Admin | $0 to $5,000 depending on the building. Some buildings require new owners to contribute to reserve funds or cover any outstanding fees from the previous owner. |
We made this infographic to show you how property prices in Panama compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What properties can you buy in Panama in 2026 with different budgets?
With $100,000 in Panama in January 2026, you can buy an existing 1-bedroom apartment of 45-60 sqm in Betania or Pueblo Nuevo in an older building, a small existing 2-bedroom of 55-70 sqm in Parque Lefevre, or a newer 2-bedroom condo in Panama Oeste areas like Arraijan or La Chorrera.
With $200,000 in Panama in January 2026, you can buy an existing 2-bedroom apartment of 70-90 sqm in El Cangrejo, an existing 2-bedroom of 75-95 sqm in non-prime pockets of San Francisco, or an existing 3-bedroom of 100-130 sqm in Parque Lefevre or outer Juan Diaz.
With $300,000 in Panama in January 2026, you can buy an existing 3-bedroom apartment of 120-160 sqm in San Francisco in an older tower, a newer 2-3 bedroom of 100-140 sqm in the entry-level end of Costa del Este, or a townhouse of 140-200 sqm in Panama Pacifico.
With $500,000 in Panama in January 2026, you can buy a newer 3-bedroom condo of 140-200 sqm in Costa del Este, a larger 3-bedroom of 160-240 sqm in Bella Vista with partial views, or a premium 2-3 bedroom of 120-180 sqm in Punta Paitilla depending on the building age.
With $1,000,000 in Panama in January 2026, you can buy a high-floor luxury 3-4 bedroom condo of 250-350 sqm in Punta Pacifica with full amenities, a large ocean-view condo of 220-320 sqm on Avenida Balboa, or a single-family house of 250-400 sqm in Clayton or Ancon.
With $2,000,000 in Panama in January 2026, you can buy a penthouse of 350-500 sqm in Punta Pacifica with direct ocean views, a trophy unit in a top Costa del Este tower, or a prime boutique luxury property in the historic Casco Viejo district, though availability at this level is limited and highly property-specific.
If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in Panama.
What sources have we used to write this blog article?
Whether it's in our blog articles or the market analyses included in our property pack about Panama, we always rely on the strongest methodology we can … and we don't throw out numbers at random.
We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source | Why It's Authoritative | How We Used It |
|---|---|---|
| ACOBIR/4S Real Estate Report | Produced by Panama's official real estate brokers association with a specialist research firm, using documented data collection methods. | We used its segment-level new-build pricing and listing tables by neighborhood to anchor typical condo prices. We also used its corregimiento data to establish neighborhood price spreads across Panama City. |
| UTDT RIAL Index | Published by a respected Latin American university with transparent methodology for tracking real estate asking prices across major cities. | We used the Panama City price-per-sqm benchmark as the best public indicator for overall market asking prices. We reconciled it with ACOBIR data to estimate market-wide median and average prices. |
| INEC Panama | Panama's official national statistics institute, publishing the authoritative Consumer Price Index used for inflation calculations. | We used INEC CPI data to convert nominal price changes into inflation-adjusted real changes. We applied this to ensure our 1-year and 10-year comparisons accurately reflect purchasing power. |
| European Central Bank | The euro area's central bank, providing official reference exchange rates widely used as an international benchmark. | We used the late-December 2025 ECB reference rate as our official FX point for January 2026. We applied the rate of €1 = $1.18 consistently for all EUR conversions throughout the article. |
| PwC Worldwide Tax Summaries | A top-tier global tax advisory firm providing standardized country-by-country tax references used by professionals worldwide. | We used it to anchor the statutory 2% transfer tax and 3% advance withholding mechanism for Panama real estate. We added typical market ranges for legal and notary fees based on this foundation. |
| Panama Ministry of Economy and Finance | An official government ministry communicating housing finance policy changes directly to the public. | We used it to explain the preferential mortgage interest program supporting first-time buyers. We cited this as a key demand driver keeping entry and mid-market segments liquid in 2026. |
| Contraloria General de Panama | Panama's General Comptroller office, responsible for official government statistics and economic data. | We cross-referenced economic indicators and construction data to validate market activity levels. We used this to confirm trends observed in other sources. |
| Banco General | One of Panama's largest and most established banks with significant mortgage lending activity. | We referenced typical mortgage terms and lending practices to understand buyer financing behavior. We used this context when discussing negotiation dynamics and price gaps. |
| La Prensa | Panama's leading independent newspaper, providing regular coverage of real estate market developments. | We monitored market news and transaction reports to validate pricing trends. We used this to confirm that our estimates align with current market conditions. |
| Compreoalquile | A major Panama real estate listing portal with extensive property inventory across all neighborhoods. | We analyzed listing data to verify neighborhood price ranges and property availability. We used this to ensure our budget examples reflect actual market offerings. |
| Encuentra24 | One of Central America's largest classified platforms with substantial Panama real estate listings. | We cross-checked property prices and availability across different neighborhoods. We used this to validate the price ranges provided by institutional sources. |
| GoGetIt Panama | A specialized Panama real estate portal aggregating listings from multiple agencies and developers. | We reviewed listing prices for various property types and neighborhoods. We used this data to confirm our estimates for different budget levels. |
| Panama Realtor | A professional real estate agency with deep expertise in the Panama City market and expat clientele. | We consulted market insights on expat-popular neighborhoods and pricing dynamics. We used this to inform our neighborhood descriptions and buyer guidance. |
| Sotheby's International Realty Panama | A globally recognized luxury real estate brand with premium property listings in Panama. | We analyzed luxury segment pricing in prime neighborhoods like Punta Pacifica. We used this to establish our luxury price range estimates. |
| Christie's Real Estate | An international luxury real estate network affiliated with the renowned auction house. | We reviewed high-end property listings to validate our luxury market estimates. We used this to confirm pricing for penthouses and premium units. |
| CAPAC Panama | Panama's Chamber of Construction, representing builders and tracking construction activity nationwide. | We referenced construction data to understand new-build inventory levels. We used this to validate the premium for new construction versus existing homes. |
| Superintendencia de Bancos de Panama | Panama's banking regulator overseeing financial institutions and publishing lending statistics. | We reviewed mortgage lending data to understand financing trends affecting buyer behavior. We used this context when discussing appraisal friction and negotiations. |
| Autoridad Maritima de Panama | Panama's Maritime Authority, relevant for waterfront and port-adjacent property considerations. | We consulted for context on coastal and waterfront property regulations. We used this to understand factors affecting oceanfront property values. |
| MIVIOT Panama | Panama's Ministry of Housing and Territorial Planning, responsible for housing policy and urban development. | We referenced housing program information and urban planning initiatives. We used this to understand government support for entry-level housing. |
| Registro Publico de Panama | Panama's Public Registry where all property titles and transactions are officially recorded. | We consulted for information on registration procedures and associated costs. We used this to estimate registry fees in our total cost calculations. |
| DGI Panama | Panama's tax authority under the Ministry of Economy and Finance, administering property-related taxes. | We verified transfer tax rates and withholding requirements for real estate transactions. We used this to ensure accuracy in our tax estimates. |
| Global Property Guide | An international real estate research platform providing standardized market data across countries. | We cross-referenced yield and price data for Panama against our primary sources. We used this to validate our market-wide estimates. |
| Numbeo | A crowd-sourced global database of cost of living and property prices with wide coverage. | We compared user-reported property prices against institutional data sources. We used this as a sanity check for our neighborhood price ranges. |
Get the full checklist for your due diligence in Panama
Don't repeat the same mistakes others have made before you. Make sure everything is in order before signing your sales contract.