The neighbourhoods
Área Bancaria & Obarrio
USD 1,000–1,700 / month for a 1-bedThe financial district — towers, banks, restaurants and the most convenient address in the city
Commute: Walk to the banks and corporate offices; metro Line 1 nearby
- Walk to work if you're in banking or corporate services
- Best restaurant density in the city
- Modern buildings with pools, gyms and 24-hour security
- Traffic on the main avenues is heavy
- Quiet at weekends
- Construction noise is a constant somewhere nearby
Casco Viejo
USD 1,200–2,200 / month for a 1-bedRestored colonial old town — the most beautiful and most sociable place to live, at a premium
Commute: 15–25 minutes to the financial district by car; not directly on the metro
- Genuinely walkable, historic and full of life
- The best bars, rooftops and restaurants in Panama
- Views across the bay to the skyline
- Most expensive per square metre in the city
- Tourist volume and weekend noise
- Older buildings with quirks; parking is very difficult
Avenida Balboa & Punta Paitilla
USD 1,100–1,900 / month for a 1-bedBayfront towers with sea views, close to the best private hospitals
Commute: 10–20 minutes to the financial district; walkable in parts
- Sea views and the Cinta Costera waterfront on your doorstep
- Punta Pacífica hospital nearby
- Newer high-rise stock with full amenities
- Priced for the view
- Very high-rise and car-dependent between towers
- Limited street life at ground level
El Cangrejo
USD 700–1,200 / month for a 1-bedOlder, leafier and more local — mid-rise apartments, university nearby, good cheap food
Commute: 10–15 minutes to the financial district; metro station in the area
- Best value close to the centre
- Genuine neighbourhood feel with local restaurants
- Walkable and served by the metro
- Older buildings, fewer amenities
- Less polished than the bayfront
- Some blocks are noisy
Costa del Este
USD 1,000–1,700 / month for a 1-bedA planned suburb east of the city — wide streets, new towers and family living
Commute: 20–40 minutes to the financial district, traffic-dependent
- Purpose-built, orderly and green, with good international schools
- Newest apartment stock in the metro area
- Quieter and more spacious than the centre
- The commute in is genuinely bad at peak times
- Car-dependent and suburban in feel
- Little of the city's character
How renting works in Panama City
Rentals are dollar-denominated, listed through agents and increasingly on Encuentra24, and governed by a tenancy law that is more tenant-protective than most of the region. Two months' deposit plus one month's advance is the norm.
- 1
Search Encuentra24 and work with an agent
Encuentra24 is the dominant classifieds site for Panamanian property. Agents are useful for the tower market, where many units never reach a portal.
- 2
View in person and check the building
Ask about water pressure on high floors, generator coverage, and whether the building has had assessments levied. Tower quality varies enormously.
- 3
Negotiate — there is usually room
Panama has significant residential supply, particularly in the newer towers. Asking rents are often above what units actually let for, especially for a longer lease.
- 4
Sign and register the lease
Residential leases can be registered with the Ministerio de Vivienda, which formalises deposit protection. Ask for this rather than an unregistered private arrangement.
- 5
Confirm what's included
Some tower rentals include maintenance, water and even internet; others bill everything separately. Get the all-in monthly figure before agreeing.
Upfront cost
Typically two months' deposit plus the first month in advance — three months' rent to move in. Agent commission is customarily paid by the landlord rather than the tenant.
Where to search
Insider tips
- Negotiate harder than you would elsewhere. Panama has a lot of new residential supply and asking rents frequently exceed achieved rents, particularly for unfurnished units on a twelve-month lease.
- Ask about water pressure if you're looking above the tenth floor. It's a recurring complaint in older towers and impossible to fix from inside your apartment.
- Check generator coverage extends to your unit, not just lifts and lobbies. Outages happen and a partial generator is little help.
- Register the lease with the Ministerio de Vivienda. It formalises your deposit protection, and a landlord reluctant to do so is telling you something.
- Furnished is common and often good value here, which suits anyone testing whether Panama suits them before committing to a shipment.
Avoid these
- Paying a deposit before viewing in person, or to someone who cannot prove they control the property.
- Accepting the asking rent without negotiating in a market with real supply.
- Comparing rents without maintenance fees, water and utilities.
- Leaving the lease unregistered and weakening your deposit position.
- Taking Costa del Este without testing the inbound commute at 8am.
Some of this may be out of date. Spotted something inaccurate? Help us keep it right for the next newcomer.