How to check property prices in Panama before you make an offer (2026)
Updated: 2026-10-08
To check a price in Panama, hold the asking price up against what sellers ask for the same asset class in the same area, against the rent the property can earn, and against the official records at the Registro Público (Public Registry), the tax authority DGI and the land authority ANATI. Nearly all public residential price data in Panama is asking-price data. None of the sources we reviewed for this guide publishes what a sale closed at.
The data in this guide was checked on October 8, 2026. We start with what each source measures, move on to yields and price per square meter, and finish with the property's registry folio, its cadastral value and its tax clearance. This is general information. Title review and tax checks belong with a licensed attorney in Panama.
Global Property Guide's October 2026 release puts Panama's average gross rental yield at 7.40% and Panama City apartments at 7.66%, calculated from Compreoalquile asking rents and list prices.
Key takeaways
- Prices on Encuentra24 and other portals are what sellers ask. On October 8, 2026, Encuentra24's apartments-for-sale category for Panama showed more than 31,700 ads, and none of them says what the sale closed at.
- Global Property Guide puts Panama's average gross rental yield at 7.40% and Panama City apartments at 7.66% in its October 2026 release, using asking rents and list prices from Compreoalquile. The same site estimates net yields run 1.5 to 2 points lower.
- Global Property Guide reports US$2,745 per square meter for primary-market apartments in Panama City in Q2 2026. That figure tells you nothing about a resale apartment, a retail unit or a land lot.
- In Panavanti's active inventory as of October 7, 2026, the Costa del Este residential median is US$949,000 (n=5) and the commercial median is US$7.39 million (n=4). An average that blends the two describes no real property.
- A Registro Público property certificate identifies the owner, the property and any registered lien. If the seller is not the owner on the folio, the deal should stop.
- The DGI requires a property tax clearance (paz y salvo de finca) to transfer real estate, and property tax is charged on the cadastral value ANATI assigns. That value is a tax base.
What does each Panama price source measure?
Each public price source in Panama measures something different, and most of them measure what the seller asks. Classified portals such as Encuentra24 and Compreoalquile publish the price the advertiser sets. On Encuentra24, every apartment card shows the price and the floor area in square meters, and most also show the monthly condo maintenance fee. That is useful for comparison, but none of it is the price written into the deed.
Global Property Guide takes asking rents and list prices from Compreoalquile, computes medians for 1- to 3-bedroom apartments and updates the series twice a year. Its October 2026 release (the page labels it 'Q4, 2026') puts the national average gross yield at 7.40%, against 6.94% in Q2 2026. For price per square meter it uses a different source, Properstar, and covers only primary-market apartments in Panama City.
Offices and industrial buildings have their own benchmark. Newmark Central America reported Panama City office availability of 23.70% in Q2 2026, on an inventory of 1,833,260 square meters, with average rent of US$16.65 per square meter per month. Industrial availability fell from 8.07% to 6.01%. You judge an office with those figures and an apartment with residential yields. Mixing them tells you nothing.
Panavanti's inventory is asking-price data too: list prices of our active properties, grouped by area and asset class. If you want a second, paid dataset, TheLatinvestor sells a pack of PDF reports on Panama (a one-time US$19 to US$49 as of October 2026), and its two higher tiers include a 2026 prices, rents and yields report that the company says draws on more than 2,400 properties that were on the market. Read it as listing data as well.
Price sources and what they measure (October 2026)
Before you use a number, find out which source it comes from and what that source measures. All figures were checked on October 8, 2026.
| Source | What it measures | Latest figure | Limit |
|---|---|---|---|
| Encuentra24 (portal) | Asking price and floor area of each ad; most also show the maintenance fee | More than 31,700 ads in the apartments-for-sale category (Oct 8, 2026) | Does not show the closing price |
| Global Property Guide, yields | Median asking rents and list prices from Compreoalquile, 1- to 3-bedroom apartments | 7.40% gross nationally and 7.66% in Panama City (Oct 2026 release) | Gross figure, net usually 1.5 to 2 points lower |
| Global Property Guide, price per m2 | Average price per square meter of primary-market apartments, Properstar data | US$2,745 per m2 in Panama City (Q2 2026) | Does not measure resales, retail or land |
| Newmark Central America | Office and industrial availability and rent | Offices 23.70% available at US$16.65 per m2 per month (Q2 2026) | Does not cover housing |
| Panavanti active inventory | List prices by area and asset class | Costa del Este residential, median US$949,000 with n=5 (Oct 7, 2026) | Small samples of asking prices |
| Registro Público | Owner, property, liens and entry history of the folio | Folio search in the 2026 online office | Not a price index |
| DGI and ANATI | Cadastral value and property tax balance | Property tax clearance required for transfer | Cadastral value is a tax base |
No row in this table is a closing price. Use them together and check every number at its source before you make an offer.
How do you check rent and yield before making an offer?
Work out the gross yield from the rent the unit really earns and compare it with the area median for the same number of bedrooms. Global Property Guide's formula is monthly rent times 12, divided by price, times 100. A 2-bedroom apartment priced at US$370,000 and rented at US$2,100 a month yields 6.81% gross. Those three numbers are Global Property Guide's medians for 'East Coast', which we read as Costa del Este (/zonas/costa-del-este), in the October 2026 release.
If the unit is already rented, ask for the current lease and the last few months of receipts. Then take out the costs a gross yield leaves in. Global Property Guide notes that its figures come before taxes, repairs, agent fees and other costs, and that net yields usually land 1.5 to 2 points lower. The maintenance fee, when the Encuentra24 card shows it, is one of those costs. To get from gross to net with every expense, use our guide to cap rates in Panama.
Always compare the same size in the same area. In the October 2026 release, a 2-bedroom apartment yields 6.81% in Costa del Este and 8.00% on Avenida Balboa (/zonas/avenida-balboa). If someone offers you 10% in an area whose median sits near 7%, ask where that rent comes from and ask for the lease behind it.
Reference medians for 2-bedroom apartments (October 2026 release)
Global Property Guide medians based on Compreoalquile list prices and asking rents, before costs. The source uses these English names without defining them. We read them as literal translations: 'East Coast' as Costa del Este, 'Pacific Point' as Punta Pacifica and 'Balboa Avenue' as Avenida Balboa.
| Area | Median list price | Median monthly rent | Gross yield |
|---|---|---|---|
| Costa del Este ('East Coast') | US$370,000 | US$2,100 | 6.81% |
| Punta Pacifica ('Pacific Point') | US$460,000 | US$2,750 | 7.17% |
| Avenida Balboa ('Balboa Avenue') | US$345,000 | US$2,300 | 8.00% |
| Coco del Mar | US$320,000 | US$2,100 | 7.88% |
| San Francisco | US$215,000 | US$1,400 | 7.81% |
| El Cangrejo | US$223,100 | US$1,450 | 7.80% |
| Panama City, all areas | US$245,000 | US$1,600 | 7.84% |
Across all sizes, the Panama City apartment average is 7.66% gross in the same release. Source: Global Property Guide, accessed October 8, 2026.
How do you compare price per square meter without mixing asset classes?
Price per square meter is only comparable between properties of the same asset class, in the same area and at the same stage, new or resale. Global Property Guide reports an average of US$2,745 per square meter for primary-market apartments in Panama City in Q2 2026, up 11.0% on a year earlier, using Properstar data. That is a new-build apartment benchmark. It says nothing about a retail unit, an office or a lot.
The spread is wide even inside one class. On October 8, 2026, Encuentra24 showed a 3-bedroom, 256-square-meter apartment in Santa Maria, sold directly by the developer, at US$930,000, about US$3,633 per square meter. The same day, a 3-bedroom, 125-square-meter apartment in El Cangrejo, listed with 'no intermediaries', asked US$225,000, or US$1,800 per square meter. Both have three bedrooms, and one asks twice as much per square meter.
Across asset classes the comparison stops making sense. In Panavanti's active inventory as of October 7, 2026, Costa del Este has 13 properties for sale. The residential median (apartments and houses, n=5) is US$949,000, the commercial median (n=4) is US$7.39 million and the land median (n=4) is US$8.58 million. An average of all 13 describes nothing you could buy there, so we publish each class separately, with a median only when there are at least 3 properties and a range when there are fewer.
Panavanti active inventory by area and asset class (October 7, 2026)
List prices of Panavanti's properties for sale, split by asset class. n is the number of properties. With fewer than 3 properties we give only the range.
| Area and asset class | n | Median | Asking price range |
|---|---|---|---|
| Costa del Este, residential (apartments and houses) | 5 | US$949,000 | US$591,000 to US$2,300,000 |
| Costa del Este, commercial | 4 | US$7,390,000 | US$4,000,000 to US$15,900,000 |
| Costa del Este, land | 4 | US$8,579,950 | US$6,741,200 to US$10,704,000 |
| Avenida Balboa, residential | 7 | US$379,000 | US$240,000 to US$1,250,000 |
| Coco del Mar, residential (apartments) | 3 | US$595,000 | US$590,000 to US$625,000 |
| Punta Pacifica, residential (apartments) | 2 | no median (n below 3) | US$590,000 to US$695,000 |
| Casco Antiguo, commercial | 14 | US$1,995,000 | US$227,715 to US$12,000,000 |
Source: Panavanti active inventory as of October 7, 2026. These are asking prices. Each area has its own page at /zonas/costa-del-este, /zonas/avenida-balboa, /zonas/coco-del-mar, /zonas/punta-pacifica and /zonas/casco-antiguo.
How do you check title and liens at the Registro Público?
Ask the seller for the property number (finca) and location code, and check at Panama's Registro Público who the registered owner is and which liens are recorded before you sign the promise of sale. In Panama, ownership is established by registration at the Registro Público. The NDM law firm put it this way in July 2026: the property certificate (certificado de finca) identifies the owner, the property and any registered encumbrance, and a mismatch between the seller, the finca number, the boundaries or the chain of owners is the most reliable sign of a deal that should not go ahead.
According to its 2026 user manuals, the Registro Público's online office lets you search real-estate folios with a user account. Results show the location code, district, building and owners. The folio screen separates current from non-current electronic records and has a priority tab (prelación) with the documents of each entry, which you can view and download. You request the certificate in the same online office, pay by Visa, MasterCard or Yappy and, if you choose electronic delivery, receive it by email.
Have your attorney read that history in full. NDM traces the chain of title and looks for mortgages, attachments and other registered liens, and warns that not all land in Panama is titled: rights-of-possession land is still common, including in areas popular with foreign buyers. Once the property is in your name, the Registro Público's Alerta Registral service notifies you in real time of filings on the folios you subscribe. It costs B/.15.00 per folio for 1 to 5 folios, lasts one renewable year, and the first subscription is done in person.
What do the cadastral value and property tax tell you?
The cadastral value is the base for property tax, and ANATI (the national land administration authority) assigns it. The DGI explains that the finca number from the Registro Público must also be on file with ANATI, which is the body that sets the property's value. It also says that before checking whether a finca owes tax, you need to confirm its cadastral values are up to date at ANATI.
The cadastral value sets the annual tax. Law 66 of 2017 establishes the rate table and the DGI publishes it on its website. For property that is not a primary residence, the first US$30,000 is exempt and the rest pays 0.60% to 1.00% by bracket. A primary residence registered under that regime pays nothing up to US$120,000. The full brackets are in our Panama property tax guide. The finca also has to be current, because the DGI requires the property tax clearance for any transfer. Tax is paid in three installments, on April 30, August 31 and December 31.
If you want an independent market value before making an offer, hire an appraiser listed in ANATI's national register of appraisers and appraisal firms. That is the register ANATI requires for its specific-appraisal procedure, per its March 2026 requirements sheet and Resolution ANATI-ADMG-542-2025 of August 25, 2025, and for that procedure the report must split land value from the value of improvements. NDM also notes that unpaid balances follow the property and not the seller, so ask for proof that condo (propiedad horizontal) fees and utilities are current.
Red flags before you make an offer
- The seller does not match the owner on the folio, or the finca number and boundaries do not match what you are being shown.
- The land is offered under rights of possession, with no title registered at the Registro Público.
- The seller cannot produce the property tax clearance, or there is no proof that condo fees are current.
- The advertised yield comes from an expected rent instead of a current lease, or beats the area median for the same number of bedrooms by several points.
- The price per square meter is defended with averages from another asset class, or with the new-build apartment average when you are buying a resale unit.
- You are asked for a deposit before your attorney finishes the title review. NDM explains that the due diligence period is agreed in the promise of sale: a home may need only weeks, while commercial property, land and properties held through companies commonly need 60 days or more.
In what order should you run the checks?
Start with the price and finish with the registry, because the first two checks are free and can rule out an overpriced property before you pay for a certificate or a title review. Compare the asking price with ads for the same asset class, area and size, and with our area pages such as Coco del Mar (/zonas/coco-del-mar) or Casco Antiguo (/zonas/casco-antiguo). Then work out the gross yield from the real rent and subtract the costs.
Once the numbers hold up, move to the documents. Get the finca number, review the folio and the certificate at the Registro Público, confirm the tax clearance with the DGI and the cadastral value with ANATI, and let a licensed attorney finish the title review within the promise-of-sale deadline. If you are investing from abroad, our guide for foreign investors in Panama covers how to structure the purchase.
This content is informational and does not constitute legal, tax or immigration advice. Verify current requirements with a licensed attorney in Panama before making decisions.
Sources
- www.globalpropertyguide.com — Edición de octubre de 2026 (la página la rotula 'Q4, 2026', con próxima actualización en abril de 2027): rendimiento bruto promedio de Panamá de 7.40%, frente a 6.94% en el segundo trimestre de 2026. Apartamentos de la Ciudad de Panamá 7.66%. Medianas por zona y recámaras (por ejemplo, 2 recámaras en 'East Coast' US$370,000 y US$2,100 de renta, 6.81%). Fuente de datos: Compreoalquile, rentas pedidas y precios de lista. Rendimientos brutos. El neto suele ser 1.5 a 2 puntos menor. (accessed 2026-10-08)
- www.globalpropertyguide.com — Precio promedio por metro cuadrado de apartamentos de mercado primario en la Ciudad de Panamá: US$2,745 en el segundo trimestre de 2026, 11.0% más que un año antes. Fuente de datos: Properstar. (accessed 2026-10-08)
- www.encuentra24.com — Categoría de apartamentos en venta en Panamá: dos consultas del 8 de octubre de 2026 mostraron 'más de 31,735' y 'más de 31,731 resultados'. Cada ficha muestra precio pedido y m2; la mayoría, también la cuota de mantenimiento. Ejemplos de ese día: apartamento de 3 recámaras y 256 m2 en Santa María, directo de promotora, US$930,000. Apartamento de 3 recámaras y 125 m2 en El Cangrejo, anunciado sin intermediarios, US$225,000. (accessed 2026-10-08)
- www.vidayexito.net — Newmark Central America, segundo trimestre de 2026 (artículo del 7 de septiembre de 2026): oficinas de la Ciudad de Panamá con 1,833,260 m2 de inventario, 23.70% de disponibilidad y renta promedio de US$16.65 por m2 al mes. Disponibilidad industrial de 8.07% a 6.01%. (accessed 2026-10-08)
- www.ndm.com.pa — NDM Law Firm (15 de julio de 2026): el certificado de finca identifica al dueño, el inmueble y los gravámenes inscritos. Una diferencia entre vendedor, número de finca, linderos o cadena de titulares es el indicador más fiable de una operación que no debe seguir. Los derechos posesorios siguen siendo comunes. Los saldos pendientes siguen al inmueble. El periodo de diligencia se pacta en la promesa (semanas para vivienda, 60 días o más para comerciales, terrenos e inmuebles en sociedades). (accessed 2026-10-08)
- www.rp.gob.pa — Portal de Servicios Telemáticos del Registro Público: 'Puede iniciar sesión en el formulario de acceso que aparece a continuación o crear su usuario pulsando el botón Registrarse'. Las consultas y certificados en línea se hacen con una cuenta de usuario. (accessed 2026-10-08)
- registro-publico.gob.pa — Manual 'Consulta de folios', Nueva Oficina Virtual 2026 del Registro Público: la búsqueda de inmuebles muestra código de ubicación, distrito, edificio y propietarios. La ficha separa registros electrónicos vigentes y no vigentes y tiene la pestaña de prelación, cuyos documentos se pueden consultar y descargar. (accessed 2026-10-08)
- registro-publico.gob.pa — Manual 'Solicitud de certificados', Nueva Oficina Virtual 2026: el certificado se pide en línea, se paga con Visa o MasterCard o con Yappy, y con entrega telemática llega por correo electrónico. (accessed 2026-10-08)
- registro-publico.gob.pa — Alerta Registral del Registro Público: aviso en tiempo real de movimientos sobre los folios suscritos. B/.15.00 por folio de 1 a 5 folios. Dura un año, renovable. La primera suscripción se hace en persona. (accessed 2026-10-08)
- dgi.mef.gob.pa — DGI, impuesto de inmuebles: la ANATI concede el valor a la propiedad. Antes de consultar el saldo hay que verificar que los valores catastrales estén actualizados en la ANATI. Pago en tres partidas (30 de abril, 31 de agosto y 31 de diciembre). Tablas de 0% hasta B/.30,000 y 0.60% a 1.00% por tramos, y de 0% hasta B/.120,000 para vivienda principal. (accessed 2026-10-08)
- dgi.mef.gob.pa — DGI: el paz y salvo indica que el contribuyente no tiene deuda y sus tributos están al día. 'El paz y salvo de finca es un requisito para traspaso de bien inmueble'. (accessed 2026-10-08)
- www.anati.gob.pa — ANATI, requisitos del trámite de avalúo específico (versión marzo de 2026): certificado de propiedad del Registro Público con vigencia de tres meses e informe de un perito inscrito en el Registro Nacional de Peritos Valuadores y Empresas Avaluadoras de ANATI (Resolución ANATI-ADMG-542-2025 de 25 de agosto de 2025), con valor de mercado separado entre terreno y mejoras. (accessed 2026-10-08)
- s3-legispan.asamblea.gob.pa — Ley 66 de 17 de octubre de 2017 (G.O. 28388-C): tarifa del artículo 766-A para inmuebles comerciales, otras residencias y terrenos (0% hasta B/.30,000, 0.60%, 0.80% y 1.00% por tramos) y del artículo 766 para vivienda principal o patrimonio familiar tributario (0% hasta B/.120,000, 0.50% hasta B/.700,000 y 0.7% sobre el excedente). (accessed 2026-10-08)
- thelatinvestor.com — TheLatinvestor vende un paquete de informes en PDF sobre Panamá con pago único de US$19, US$39 o US$49. Las opciones de US$39 y US$49 incluyen el informe 'Prices, Rents and Yields in Panama in 2026', basado según la empresa en más de 2,400 propiedades que estuvieron en el mercado. (accessed 2026-10-08)
Related guides: Cap Rates in Panama: How to Calculate Them With 2026 Data · Panama Property Tax Guide: Exemptions and 2026 Rates · zonas alto rendimiento 2025 · inversionistas extranjeros panama
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