A foreigner can buy property in Panama and own it in their own name. That is the question we get asked first, and the answer is short. What takes longer to explain is how the process runs, who you need on your side, and where people lose money by moving too fast.
This is written from the buying side of our business, so it covers what we do and what we see. It is not a guide to Panamanian property law. For that you need a Panamanian lawyer, and you want one from the beginning.
The lawyer comes first
In Panama your lawyer is the centre of a purchase. They check the title at the Public Registry, they draft or review the promise to purchase, and they handle the transfer.
This is the part we tell every buyer to spend proper money on. A title check is cheap compared to what it protects, and it is the step people skip when they are in a hurry to close on something they love. We work alongside your lawyer. We do their job for nobody.
If you do not have one, ask us and ask other buyers. Get a name from more than one source.
Residency and buying are two different things
You do not need residency to buy. Buying does not by itself give you residency.
Those two sentences cover most of the confusion we hear. If residency is part of your plan, talk to an immigration lawyer before you choose what to buy, because the choice can matter and it is expensive to fix afterwards. We are careful not to advise on this. It changes, it is specific to you, and a brokerage guessing about immigration rules is how people make costly decisions.
What the process looks like
- You see properties. We show you what fits, and we tell you when something is wrong for you.
- You make an offer and agree the terms.
- A promise to purchase is signed, usually with a deposit, and your lawyer reviews it before you sign anything.
- Title is checked at the Public Registry.
- Financing, if you are using it. Start this early. It is the step that decides your timeline.
- Closing and transfer, handled by the lawyers.
How long it takes depends almost entirely on step five. A cash purchase moves quickly. A financed one moves at the speed of the paperwork, and a foreign buyer should assume that takes longer than they were told.
What things cost
Our own current sale listings run from $620,000 to $1,400,000. Those are larger units in towers with full amenities, in the central areas foreign buyers ask for most.
The market goes well below that, and we take sale listings from $100,000. What we will not do is publish an average price per square metre for Panama City, Panama, because no reliable public figure for it exists and a made up one is how people build a budget on sand.
Beyond the price, budget for legal fees, transfer costs and registration. Your lawyer will give you those numbers for your specific purchase. We do not quote them, because they depend on the property and on rules that change.
The monthly cost is the part people forget
Buyers focus hard on the purchase price and then get a surprise in month one. Owning an apartment in a Panama City tower has a running cost: the building fee, utilities, insurance and property tax.
The building fee is charged every month whether you are in the country or not, and the buildings with the best amenities charge the most. Work this number out before you buy. We go through it in detail in our guide to what it costs to own an apartment in Panama City, Panama.
Off plan or finished
Both work. They are different risks, and it is worth being honest about which one you are taking.
A finished apartment you can walk through, inspect and rent out immediately. Off plan means you pay in stages, you wait, and you are depending on the developer delivering what the drawings showed, on time.
We have direct contact with developers building in Panama City, and they send us availability and pricing before it reaches the portals. We will tell you plainly which route fits what you are trying to do. See our new developments page if that is the direction you are leaning.
If you are buying to rent it out
Many of our buyers live somewhere else and want the apartment to earn while they are away. That is a business, and it needs someone here.
Before you buy, ask what the unit will realistically rent for, how quickly units in that building move, and who will handle the tenant, the utilities and the repairs. We manage properties for owners who live abroad, and we would rather tell you the honest rental number before you buy than after. Our page for property owners covers what that involves.
Frequently asked questions
What foreign buyers ask us most.
Yes. Foreign buyers can own property in Panama in their own name, and a large share of the buyers we work with are American. The specifics of your own purchase, including how you should hold the title, are questions for a Panamanian lawyer, and you want one from the start.
No. Buying and residency are separate things. Owning property in Panama does not by itself give you residency either, so if residency is part of your plan, talk to an immigration lawyer before you choose what to buy.
They check the title at the Public Registry, they draft or review the promise to purchase, and they handle the transfer. This is the part we tell every buyer to spend proper money on. We work alongside your lawyer on every purchase.
Our own current sale listings run from $620,000 to $1,400,000, which covers larger units in towers with full amenities. The market goes well below that. We take sale listings from $100,000.
Both work, and they are different risks. A finished apartment you can walk through and rent out immediately. Off plan means waiting, paying in stages, and depending on the developer delivering. We have direct contact with developers building in Panama City and we will tell you honestly which one fits what you are trying to do.
Tell us what you are trying to do
A home, an investment, or somewhere to retire. The answer changes which buildings make sense. Send us your budget and your plan and we will tell you what is available and what we think of it. We answer in English or Spanish.
