What's the cost to rent an apartment in Panama?
Michael Ducharme - Lotus Garden
A newer apartment in a safe area of Panama City (Punta Pacifica) costs around $1500 per month for 3 bedrooms, or $1200 for 2 bedrooms.
A newer apartment in a safe area of Panama City (Punta Pacifica) costs around $1500 per month for 3 bedrooms, or $1200 for 2 bedrooms.
Posted January 23, 2013
Bill Hamilton - Bill Hamilton
The cost to rent an apartment in Panama depends on the location. In the city from around $700 for a small apartment and upwards of $1,200 for a reasonably sized one. On the Causeway or in other exclusive areas you can pay from $3,000. to $6,000 monthly. Out of town in the provinces then the price can drop to as low as $300.
The cost to rent an apartment in Panama depends on the location. In the city from around $700 for a small apartment and upwards of $1,200 for a reasonably sized one. On the Causeway or in other exclusive areas you can pay from $3,000. to $6,000 monthly. Out of town in the provinces then the price can drop to as low as $300.
Posted April 10, 2013
Chris Frochaux - Chris Frochaux - SERVMOR REALTY
To rent a small apartment in Panama City, you should budget around US$1,000 and upwards. Typically, that would be a one bedroom + living room with one full bathroom and a guest bathroom. The location would be San Francisco, for example. You would probably have a small balcony, with a city view. You would have only one parking space. Some agents will tell you there are additional guest parking spaces, but this is lie, because as a tenant you would not be considered a guest! As a rule of...
To rent a small apartment in Panama City, you should budget around US$1,000 and upwards. Typically, that would be a one bedroom + living room with one full bathroom and a guest bathroom. The location would be San Francisco, for example. You would probably have a small balcony, with a city view. You would have only one parking space. Some agents will tell you there are additional guest parking spaces, but this is lie, because as a tenant you would not be considered a guest! As a rule of thumb, you would need to rent a three-bedroom if you require two parking spaces. At that price level, the building would be modern, located in a safe neighborhood, with access controlled by a security guard and provided with a pool and a gym. The apartment would be unfurnished, but equipped with lighting, appliances and air conditioners. The monthly building administration fee is usually paid by the landlord. Water and gas are usually included in the rent. However you would have to subscribe the electrical supply contract in your name, as well as phone, Internet and cable TV. Please keep in mind that every ad you see online or classifieds is intended for a duration of 12 months renewable - unless expressly indicated otherwise. Therefore, don't waste time investigating if the owner would rent you the apartment for 3 o 6 months. You do not have to pay a cent to your agent, as commissions are paid by the owners. It's not a bad idea to be assisted (at no cost) by an agent (preferably with a license number and a business card) since you will be required to sign a lease - in Spanish.... there are no standard leases, like in the US, so beware of the fine print!
Posted April 25, 2013
Esteban Guerra
The apartments in Panama City are expensive. The amount I pay to rent an apartment in Spain can only afford me to rent a room in Panama City. I am renting a room in an apartment and it costs US $500 per month but the good thing about it is that I am living in a nice neighborhood and the apartment building is close to transportation, the groceries, and other shops. If you will rent an unfurnished apartment with two bedrooms and two bathrooms in a nice area...
The apartments in Panama City are expensive. The amount I pay to rent an apartment in Spain can only afford me to rent a room in Panama City. I am renting a room in an apartment and it costs US $500 per month but the good thing about it is that I am living in a nice neighborhood and the apartment building is close to transportation, the groceries, and other shops. If you will rent an unfurnished apartment with two bedrooms and two bathrooms in a nice area in Panama City, it will cost around $1,000 per month.
A furnished apartment with two bedrooms and two bathrooms will cost around $1,500 or more per month. The rent includes electricity and water. Internet and cable TV may be included, depending on your agreement with the owner.
Posted November 9, 2014
Neil Flemming - VaultMax Global Inc
If you want to live in one of the nicer areas (a foreigner wouldn’t live in a barrio or something like that), for a two or three-bedroom apartment in Panama City, you’ll pay between US $1,600 and $2,000 a month. If you wanted to go to one of the really super fashionable areas, which will be Costa del Este or at Casco Viejo, which is the old town, then you’re going to be spending more. You’re not going to have any parking in...
If you want to live in one of the nicer areas (a foreigner wouldn’t live in a barrio or something like that), for a two or three-bedroom apartment in Panama City, you’ll pay between US $1,600 and $2,000 a month. If you wanted to go to one of the really super fashionable areas, which will be Costa del Este or at Casco Viejo, which is the old town, then you’re going to be spending more. You’re not going to have any parking in Casco Viejo. There’s literally no parking in Casco Viejo.
The cost there for an apartment rental is between $1,600 and $3,000 a month for a 100 to 200-square meter (about 1,075 to 2,150 square feet), two or three-bedroom. That would be a relatively new building, relatively new area, and safe. That’s the type of neighborhood where a foreigner will be comfortable living. That would have security, parking, a pool, and a social area; all that kinds of things.
If you compare this to the cost of a similar type of place, let’s say, in Frankfurt or in London, in these European cities, the rent would cost you a fortune. A 200-square meter apartment in London with underground parking, a pool, and all of that will probably cost a lot more. That’s for sure.
The key is to get a good realtor. I was lucky and I found one. I went to a few duds first. Somebody was recommended to me and she was absolutely wonderful. I recommended her to other people. They’ve all been delighted with her.
Unfortunately, there are lots of cowboys in the rental market here. You tell them exactly what you want. You show up to look at it. For example, you specifically told him that you want three bedrooms and they’re trying to show you to a two-bedroom place. You explained to them at length already that you needed three bedrooms, but they don’t care, or they won’t even show up at all. They arrange to show you an apartment, you show up in the place, and then they were better off somewhere else. They just don’t even show up, which is kind of bizarre.
That’s renting an apartment in Panama City. The problem is probably because there are so many people coming into the city, the agents (whatever you call them) have their choice of clients;. I don’t know. They rarely call you back. If they do call you back, they’re not going to follow up, so it’s important to get a good realtor, for sure.
Personally, it was worth the trouble to get a good realtor. Absolutely! Most of the good apartments sign up with a realtor to get it rented. You can cut out a lot of leg work by just getting a good realtor. She’ll be able to show you, in two or three days, six or seven places that are exactly what you need. For that, she gets one month’s rent from the apartment owner. It works out.
(Costa del Este, Panama, pictured.)
Posted November 20, 2015
David Whittington - Tucan Golf Club and Resort
Asking what’s the cost to rent an apartment in Panama is like asking how much it costs to rent an apartment in the US. You can pay $5,000 a month for a tiny apartment in New York, but much less other places. Right now in Panama City to rent a high end apartment fully furnished would probably run about $2,000 to $2,500. For this amount in Panama City, you could get an apartment of about 200 square feet, with a balcony, mostly in a...
Asking what’s the cost to rent an apartment in Panama is like asking how much it costs to rent an apartment in the US. You can pay $5,000 a month for a tiny apartment in New York, but much less other places. Right now in Panama City to rent a high end apartment fully furnished would probably run about $2,000 to $2,500. For this amount in Panama City, you could get an apartment of about 200 square feet, with a balcony, mostly in a high-rise building, and with good amenities. Most apartments here all have granite countertops. You could find one cheaper, but if you’re looking for an apartment up to North American standards, the minimum would be around $2,000. It would most likely have at least two bedrooms, and two to two and a half bathrooms.
In Boquete, in the Chiriquí Highlands, you can probably rent a home as well. I’ve met people in Boquete from Texas who are renting a small apartment for $250 a month in another person’s home, but they were happy with it. They walk up and down the streets, to the store, and they had proper facilities and they paid the lady $20 a week to clean. It depends on where it is and what you’ll find and what you’re willing to accept. My wife probably wouldn’t live there.
Here in Tucan, outside of Panama City, we have smaller one or two bedroom apartments that are running right now at $1,800 for a one bedroom and $2,100 for a two bedroom. That includes amenities and they have access to the clubhouse and the pool with that rental.
(Condos at Tucan Country Club and Golf, pictured.)
Posted July 16, 2016
Kathya de Chong - Alto Boquete Condominios
As with any real estate, prices will mostly be affected by location. In Panama City there are areas which are most wanted because of the proximity with the business area, Balboa Avenue, Punta Pacífica and San Francisco, with prices starting at $1,100 for example. In the countryside there are also other areas more wanted by expats, such as Coronado and Boquete where you may find rentals starting at $800. Long term rentals can be most...
As with any real estate, prices will mostly be affected by location. In Panama City there are areas which are most wanted because of the proximity with the business area, Balboa Avenue, Punta Pacífica and San Francisco, with prices starting at $1,100 for example. In the countryside there are also other areas more wanted by expats, such as Coronado and Boquete where you may find rentals starting at $800. Long term rentals can be most convenient for getting better prices.
Posted May 13, 2017
Jon
Are the contributors all real estate agents? There is no way that $2000 is average and expected. Learn Spanish! There are countless opportunities to live comfortably for less. Costa Rica is more expensive than Panama and bargains are everywhere.
Are the contributors all real estate agents? There is no way that $2000 is average and expected. Learn Spanish! There are countless opportunities to live comfortably for less. Costa Rica is more expensive than Panama and bargains are everywhere.
Posted June 10, 2018