In the last years there has been a boom in the Real Estate business in Panama, which has focused a lot of attractive investment projects for foreigners that wish to own a property in this tropical paradise.  Properties exist for all tastes,  from living near the city, the beaches or the mountains, you will find incentives for your investment (financial as well as fiscal).

As a foreign citizen you may obtain a bank finance for the purchase of real estate, usually by advancing 30% of the property value and the remaining 70% you may finance with an annual interest of approximately 7% (march 2006), if the purchase is for housing you should add the 1% FECI (Special Fund for Interest Compensation). The maximum estimated years for financing may be calculated by subtracting 75 years from the current age of the person.

– What will be required for a mortgage loan? A credit history notarized and apostilled, the last two income returns, copy of the passport notarized and apostilled, copy of the drivers license, a valuation of the property, the loan request duly signed and evidence of the income or salary. For example, if you wish to purchase a house for US$150,000 you will be required a monthly family income of minimum US$3,000.00.

Documents required from foreigners who wish to apply for a mortgage:

  • A completed and duly signed application.
  • A copy of the passport, including the pages showing the migratory movements (entry and exit seals).
  • A copy of a second ID (Driver’s licence, Social Security Card, etc.).
  • 2 Last Income Tax Statements.
  • Two bank references letters from his/her country of origin.
  • If he/she has a bank account in Panama, a reference letter from the local bank.
  • Credit references from his/her country of origin.

*Besides the commercial documentation required, if the mortgage contracting party is a Corporation, and if there are foreigners amongst the Shareholders or Board Members, or if the ultimate beneficiary owner is a foreigner, such persons also have to individually comply with the requirements.
Banco General offers you the tools, the products and the experience in the Panamanian market to facilitate the process of acquiring your new home. We make the application process easier, providing complete solutions in the home buying process.

– And what about your Immigration status?
Do not worry; you may obtain a residence visa by purchasing a property of US$200,000, which automatically exonerates you of having to open a bank account to demonstrate your solvency

– What type of fiscal incentives may you have? You may enjoy 20 year property tax exoneration for all constructions where their construction permits were issued before September 1st, 2006, as long as said improvements are recorded in the Public Registry before August 31st of 2007. Those new constructions that have construction permits issued after September 1st, 2006 may enjoy an exoneration of 15 years depending on the value range of the construction

It is important to point out that Panama has a reliable and fast public registry of properties. In this country you will not find any type of restrictions for the purchase of real estate for being a foreigner. The property offers that you may find have prices ranging from US$750 and US$1,800 per square meter, with luxury real estate projects in the capital city as well as in the outskirts of the country

In Panama you may find an enormous variety of project offers, below we present to you some of the most important:

  • Trump Ocean Club International Hotel & Tower Panama – First project of the renowned investor Donald Trump in Latin America. A multifunctional investment located in Punta Pacifica contemplates a building of 62 floors, hotel, marina, spa, shops, business center and an international casino.
  • Santa María Golf and Country Club – Is a new luxury residential development community, with modern colonial style located next to Costa del Este in the Republic of Panama, which also will feature a field of world class golf 18 holes designed by the legendary professional golfer Jack Nicklaus and as a country club, towncenter, golf clubhouse
  • Proyecto “Megapolis Panama – Exclusive condominium project with hotel service the only one in Panama, operated by the prestigious hotel chain of the Group “Hoteles Decameron”. The project consists of 63 levels with view to the ocean, Bay and/or Panama City. Also, with hotel, social and business areas, as well as direct access to the Multicentro Centerl.
  • Tucan Country Club & Resort – It´s a kind mountain residential gated community, located near Panama City and just a few minutes from the beaches of the Pacific coast of Panama. You will enjoy a mountain spring weather all year round (75 ° F – 24 C º), lots are located at altitudes between 450 to 1.100 meters (1.476 to 3.608 feet) above sea level.
  • Bijao Resort Community & Golf – New complex located in Rio Hato (Cocle), between San Carlos and Sea Cliff, that will compete with its neighbors Decameron and Playa Blanca. It will have residential villas, luxury condominiums, a lake, restaurants, bars, beach club, ecological trail and a golf court. The design of the project will have five different styles of villas and two residential buildings (with architecture of the time of the construction of the canal.
  • Altos de María –  Es un residencial de montaña del tipo comunidad cerrada, ubicado cerca de la Ciudad de Panamá y a sólo unos cuantos minutos de las playas de la costa del Pacífico panameño. Usted disfrutará de un clima primaveral de montaña durante todo el año (75º F – 24 Cº); los lotes de terreno están localizados a altitudes entre los 450 – 1,100 metros (1,476 – 3,608 pies) sobre el nivel del mar.
  • The Bridge – A residential apartment complex located in the Hills of Amador (just before the Causeway of Amador). They offer t8 apartments (from 198mts2 to 542mt2) in three towers of seven floors each, with beautiful and exclusive view to the Bay of Panama and the Bridge of the Americas.
  • P.H. Amador Hill – Exclusive residential project located in Amador with spectacular view to the Old City, Bay and Panama Canal. The building with style and European design of six floors has 20 apartments (322mt2, 169m2 y 155 mts), social area, private parking, 2 elevators, emergency generator, internet, parking for visitors, 24 hours security.
  • Naos Harbour Island (Amador – Panamá). Project located in the Causeway of Amador (Isla Naos). Includes a 5 star hotels that has a beach, convention center, casino and commercial area (restaurants, bars, terraces), as well as a Residential condominium with excellent view to the Pacific Ocean and of the transit of the boats through the Canal.
  • El Alcázar de Coronado – Project located at 80kms to the west of Panama City. Designed for the growing community of families and foreign retirees in Panama. They will offer 64 residences of four rooms with large balconies with view to the Pacific Ocean and the green mountains of the continental division.
  • Isla Viveros (Archipiélago de las Perlas) – Residential and tourist project at only 40 miles (15 minutes in plane) from the city of Panama. Exclusive community (more that 300 residential lots, condominiums and golf court, beach front and with view to the sea. Includes airport, marina, 5 star hotel, restaurant, commercial center, business center, medical center, etc.

For more information about properties and Real Estate in Panama visit:
Asociación Panameña de Corredores y Promotores de Bienes Raíces

*Below we provide you a list with some of the real estate developers in the country:

MDA Panama507-393-9941/393-9942
TRIBALDOS Bienes y Raíces507-300-2222
Semusa21 Century507-270-5060
Pinzón Lozano & Asoc.507-223-8555
Ventas y Proyectos507-214-2376
Grupo Corcione507-263-3617
Btesh & Virzi507-215-2222
HOMES 507-215-1878
CB Richard Ellis507-210-1675
Inversiones Moses507-269-4004
Inversiones Natasha507-2233989
Romero Realty507-265-5210
Cinthya Dutary Realty507-6616-6095
F&F Properties507-236-0372
Global Alliances Group507-214-8000
Grupo Shahani507-215-0000
Grupo Sucasa507-263-4055
Habitats Realty507-265-3030
Inversiones Panamá Florida507-264-3500
Procasa Panamá S.A.507-209-2222


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