September 2026
Panama real estate market report — September 2026
Apartments in Panama stand at $2,220 per m² (sale) in September 2026.
Houses stand at $1,300 per m².
Monthly summary of the Panama real estate market by TuLugar, over 47,223 listings analysed once duplicates are removed. These are asking prices, not closing prices.
Apartments: $/m² (sale)
$2,220/m²
Houses: $/m² (sale): $1,300/m²across 7,834 houses reporting built area (79% of houses for sale)
Typical apartment price
- 1 bedroom
- $223,000
- 2 bedrooms
- $240,927
- 3 bedrooms
- $400,000
Key takeaways
- Chame is the country's most expensive city for apartments: $2,556/m², above Distrito de Panamá ($2,245/m²).
- San Felipe is the most expensive neighborhood in Distrito de Panamá ($4,167/m²); Río Abajo the most affordable ($1,650/m²).
- The highest gross apartment yield in Distrito de Panamá is in San Francisco: 7.9% a year.
- A typical Airbnb earns $1,565 per month at 43% occupancy.
- Gross apartment rental yield is 6.6% a year — about 15 years of rent to repay the purchase.
Key figures
Each figure is computed per property type — we never blend apartments, houses and land into one average.Apartments: $/m² (sale)
$2,220/m²
across 17,207 apartments for sale
Houses: $/m² (sale)
$1,300/m²
across 7,834 houses reporting built area (79% of houses for sale)
Median sale price (apartment)
$325,000
Median sale price (house)
$365,000
Median rent (apartment)
$1,800
Gross yield (apartments)
6.6%
≈ 15 years of rent to repay the purchase
Cities: apartment $/m²
Price per m² of apartments for sale and its monthly change. Two readings: where the m² is dearest, and what the deepest markets are doing. The first monthly change is published when the following month closes.
Most expensive
Cities with at least 200 apartments for sale, ordered by $/m².
- Chame$2,556365
- Antón$2,312488
- Distrito de Panamá$2,24514,912
- Arraiján$2,024371
- San Carlos$1,974335
- San Miguelito$1,770544
Largest markets
The 10 cities with the most apartments for sale, ordered by $/m².
- Portobelo$3,50553
- Chame$2,556365
- Antón$2,312488
- Distrito de Panamá$2,24514,912
- Arraiján$2,024371
- San Carlos$1,974335
- San Miguelito$1,770544
Distrito de Panamá: $/m² by neighborhood
Median price per m² of apartments for sale in September 2026. Neighborhoods with at least 30 apartments; gray = insufficient sample.
- 1San Felipe$4,167/m²
- 2Santa Ana$3,108/m²
- 3Juan Díaz$2,727/m²
- 4Calidonia$2,453/m²
- 5Bella Vista$2,250/m²
- 1Río Abajo$1,650/m²
- 2Pueblo Nuevo$1,715/m²
- 3Betania$1,722/m²
- 4San Francisco$2,108/m²
- 5Ancón$2,167/m²
| Neighborhood | $/m² | 2-bed apt. | Apt. rent | Gross yield | Apartments |
|---|---|---|---|---|---|
| San Felipe | $4,167 | — | — | — | 48 |
| Santa Ana | $3,108 | $358,850 | $1,600 | 5.9% | 141 |
| Juan Díaz | $2,727 | $355,000 | $2,500 | 5.3% | 3,592 |
| Calidonia | $2,453 | $332,236 | $1,800 | 6.9% | 275 |
| Bella Vista | $2,250 | $250,500 | $1,650 | 7.5% | 2,908 |
| Parque Lefevre | $2,184 | $146,750 | $1,500 | 6.3% | 532 |
| Ancón | $2,167 | $229,000 | $1,850 | 7.5% | 655 |
| San Francisco | $2,108 | $285,000 | $2,300 | 7.9% | 5,265 |
| Betania | $1,722 | $148,325 | $1,100 | 7.7% | 399 |
| Pueblo Nuevo | $1,715 | $158,418 | $1,000 | 6.7% | 426 |
| Río Abajo | $1,650 | $104,750 | $750 | 8.2% | 112 |
2-bed apt. = median sale price of 2-bedroom apartments (min. 50). Rent = median monthly apartment rent (min. 30). Gross yield = rent × 12 / median sale price, before expenses.
Short-term rentals (Airbnb)
Medians across entire homes active during the month. In small markets and seasonal destinations, large monthly swings usually reflect the change of season, not a trend.
Median nightly rate
$83
Median occupancy
43%
Median revenue/mo
$1,565
Entire properties analyzed
141
In Distrito de Panamá, the largest market with 129 entire homes, the median rate was $83/night at 47% occupancy.
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Sources & methodology
Data: the residential inventory TuLugar monitors continuously in the country — listings published on the site plus supply we track for statistics only — on asking prices, not closing prices, computed per property type and over unique units, plus public short-term-rental data. The full construction is in the methodology.
How each figure is calculated
- Apartments, $/m²: median asking price per built m² of apartments for sale (17,207 in this report).
- Houses, $/m²: median asking price per built m² of houses for sale that report their built area (7,834 of 9,922, 79%). Built areas outside 30–2,000 m² and prices outside USD 100–10,000 per m² are excluded. The median house price uses every house for sale.
- Median sale prices: the median asking price of each property type, never mixing types.
- Median rent: apartments on long-term rental, in US dollars per month.
- Gross yield: a median apartment’s annual rent divided by its median sale price. It is indicative: expenses, taxes and vacant months are not deducted.
- Properties analyzed: 47,223 unique units from the month’s census; a property listed by several agencies counts once.
The median rent covers long-term rentals; nightly and per-season listings are excluded from the calculation. In markets with a large holiday component, monthly rents in resort areas are seasonal and far above the capital — read them city by city rather than as a single figure.
When citing this report, credit TuLugar as the source with a link to this page.
For media
Publication-ready graphics for this edition. Attribution: "Source: TuLugar" with a link to tulugar.com.
