Panama Real Estate For Rent

view through window of panama city from apartment

Prices in Panama for rentals vary depending on a number of factors, most principally neighborhood, the age of the property, floor height (in the case of a condo for rent), and amenities included within the building/ gated community.

In most instances, Panama rental contracts are for a minimum of 12 months, however, some owners are inclined to shorten the period to six months. Typically, the tenant is responsible for paying the monthly utility bills which include electricity, internet, cable, and local telephone. The cost for a basic phone/internet/cable combination is roughly $60.00 per month and power bills depend on the size of the property and how often the tenant is at home. For a typical 1,200 square foot condo, a power bill will range anywhere from $75.00 – $200.00 per month, depending on how cold/frequent you keep the air conditioning running and how often you are home.

If you are looking for a Panama rental property in the city center, you’ll find that the Panama real estate market for rental property is mostly comprised of condos for rent. The words “condo” and “apartment” are generally interchangeable in Panama and refer to multi-family residential towers referred to locally simply as “condos”. Condos for rent in Panama range from three-story low rises to massive 70+ story high rises.

Don’t know what to expect when renting in Panama? Check out our Guide to Renting Property in Panama to learn all you need to know.

Panama Long Term Rentals

Panama City rent prices vary based mostly on location. Panama City neighborhoods that tend to have a higher-end offering (and thus higher rental prices) include Punta Pacifica, Costa del Este, Avenida Balboa and the historic region of Casco Viejo. More affordable sectors of the Panama real estate for rent market are San Francisco, El Cangrejo, Bella Vista, and El Dorado.

The condo offering in the Panama real estate for rent market is comprised of both furnished and unfurnished properties for rent. Typically, there is a 10% premium on an unfurnished rental property, meaning that an unfurnished condo may run $1,000/month and that same condo would be $1,100/month if it was furnished. Most appliances including the water heater are run on gas, and the gas is usually part of the condo association dues, meaning that gas is usually included in the monthly rental price. This is also the case with water.

Homes for rent in Panama are traditionally either stand-alone single-family homes or duplex style construction. In the example of a duplex, two homes will share a common wall. If the house/apartment for rent is located in a gated community, you may have the advantage of a shared swimming pool or barbeque area, the use of which would be included in your monthly rent.

Panama real estate rental options vary greatly, with some buildings and neighborhoods having all sorts of amenities like multiple swimming pools, gyms, social areas, putting greens, saunas, racquetball courts while other buildings have none of the above.

We work with owners, property administrators, and fellow real estate agents to help our clients source the right fit for their rental needs and we have literally hundreds of rental options to choose from.

Panama Equity Real Estate was founded on a commitment to deliver a professional real estate experience to all of our clients. Our real estate agents understand the concept of working hard, working smart, and always doing what’s right. We appreciate the trust that our clients put in us, and are always looking to improve the way we deliver the Panama Equity experience.

What does a professional real estate experience entail?

  • Timely responses to your questions
  • Accurate and updated market information to base your decisions on
  • Setting realistic expectations for your experience buying or selling property in Panama
  • Anticipating your needs
  • Pairing you with an agent who has an in-depth understanding of the real estate market and the parties involved in every sale
  • Following up with all parties to ensure a successful transaction and a professional experience for you