Where to rental in Panama?

Housing is affordable and plentiful in Panama. Rentals are inexpensive compared to what you would pay in the U.S., Canada or Europe.

Prices of rentals can vary greatly depending on where you choose to live and the amenities. In the lower range— from $300 to $700—you can expect to find a two to three bedroom house or apartment in a middle class neighborhood. Since the majority of Panamanians pay less than $150 monthly for rent, a few hundred dollars should rent a nice place to live. Most affordable houses and apartments are unfurnished. However, you can usually buy a complete household of furniture from someone who is leaving the country. This way you can save money.

Many of the upper end apartments have such amenities as parking, elevators, 24-hour security, a swimming pool, a doorman, recreational area, a gym and a social area for parties or entertaining friends.

When looking for a place, remember to check the phone, the shower, the closet size, kitchen cabinets, electrical outlets, light fixtures, the toilet, faucet and water pressure, locks, general security of building, windows and the condition of the stove, refrigerator and furniture, if furnished. Look at ceilings for telltale leaks and stains.

Also, check for traffic noise, signs of insects and rodents and what the neighbors are like. Ask about the proximity of buses and availability of taxis. If you have a pet make sure there are no restrictions about having animals. Have anything you sign translated into English before you sign it. Do not sign anything you do not understand based on the landlord’s word of honor.

With the implementation of Law No. 93 (1973), the owner of an apartment and/or office unit, with a monthly rent between $250.00 and $500.00, is not permitted to raise the rent unless first approved by the Housing Ministry. All other leasing contracts, with rents superior to the monthly amounts mentioned above, are free to be governed by agreements between the parties. This law remains in force today. Resulting from private sector criticism surrounding Law No. 93, and due to the lack of new investment by developers on rental buildings, Law No. 38 (1984) was enacted, and with it came deregulation in the leasing market. However, this modification only applies to new rental buildings which commenced construction after November 16th, 1984.

Whether you rent or lease, you will most likely have to pay a security deposit equivalent to one month’s rent. If the apartment is in good condition when you vacate it, your deposit will be returned.

When reading the ads in the Spanish newspapers, you should be familiar with the following words: Se Alquila-for rent, agua caliente-hot water, alfombrado-carpeted, amueblado-furnished, sin muebles-unfurnished, baño-bathroom, cocina-kitchen, cochera or garaje-garage, contrato-contract, depósito-deposit, dormitorio-bedroom, guarda-guard, jardín-garden, seguro-safe, patio-patio, parqueo-parking, verjas-bars, zona verde-grassy area.

If you are seriously interested in exploring the country for living and retirement, we suggest you read Living and Investing in Panama guidebook, then contact us to show the areas where you think you may want to live.