Panama House Prices, Rents & Rental Yields (2026)
How much property costs in Panama, what it rents for and how that compares with neighbouring markets in Latin America and the Caribbean. City-centre prices per m² rank 2 of 10 in this comparison; gross yields rank 1 of 10.
- Apartment price per m² (city centre)
- $2,519
- 2023
- Apartment price per m² (outside centre)
- $1,492
- 2020
- Gross rental yield (city centre)
- 8.7%
- 2024
- Price-to-income ratio
- 11.1
- 2024
- Rent: 1-bedroom, city centre
- $881/mo
- 2023
- Mortgage interest rate (20-year fixed)
- 6.3%
- 2023
Price and rent trends in Panama
Latest property market indicators
| Indicator | Value | Year | Change | Source |
|---|---|---|---|---|
| Apartment price per m² (city centre)Average asking price per square metre to buy an apartment in city centres | $2,519 | 2023 | +7.9% vs 2022 | Numbeo |
| Apartment price per m² (outside centre)Average price per square metre to buy an apartment outside city centres | $1,492 | 2020 | -0.5% vs 2019 | Numbeo |
| Price-to-income ratioMedian apartment price divided by median annual disposable family income | 11.1 | 2024 | +8.8% vs 2023 | Numbeo |
| Gross rental yield (city centre)Annual rent as a percentage of purchase price, city-centre apartments | 8.7% | 2024 | -0.4 pp vs 2023 | Numbeo |
| Price-to-rent ratio (city centre)Purchase price divided by annual rent, city-centre apartments | 11.4 | 2024 | +3.6% vs 2023 | Numbeo |
| Rent: 1-bedroom, city centreAverage monthly rent of a one-bedroom apartment in the city centre | $881/mo | 2023 | -3.5% vs 2022 | Numbeo |
| Rent: 1-bedroom, outside centreAverage monthly rent of a one-bedroom apartment outside the centre | $597/mo | 2023 | +3.9% vs 2022 | Numbeo |
| Rent: 3-bedroom, city centreAverage monthly rent of a three-bedroom apartment in the city centre | $2,034/mo | 2023 | +8.6% vs 2022 | Numbeo |
| Rent: 3-bedroom, outside centreAverage monthly rent of a three-bedroom apartment outside the centre | $1,450/mo | 2023 | +50.2% vs 2022 | Numbeo |
| Mortgage interest rate (20-year fixed)Average yearly mortgage interest rate, 20-year fixed | 6.3% | 2023 | +0.5 pp vs 2022 | Numbeo |
Year-by-year data
| Year | Apartment price per m² (city centre) | Apartment price per m² (outside centre) | Price-to-income ratio | Gross rental yield (city centre) | Price-to-rent ratio (city centre) | Rent: 1-bedroom, city centre | Rent: 1-bedroom, outside centre | Rent: 3-bedroom, city centre | Rent: 3-bedroom, outside centre | Mortgage interest rate (20-year fixed) |
|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | — | — | 11.1 | 8.7% | 11.4 | — | — | — | — | — |
| 2023 | $2,519 | — | 10.2 | 9.1% | 11 | $881/mo | $597/mo | $2,034/mo | $1,450/mo | 6.3% |
| 2022 | $2,333 | — | 11.2 | 8.1% | 12.4 | $913/mo | $575/mo | $1,873/mo | $965/mo | 5.8% |
| 2021 | $1,535 | — | 12.3 | 7.4% | 13.6 | $729/mo | $414/mo | $1,463/mo | $842/mo | — |
| 2020 | $2,230 | $1,492 | 12.6 | 8.2% | 12.2 | $791/mo | $524/mo | $1,514/mo | $918/mo | 5.6% |
| 2019 | $2,178 | $1,500 | 12.7 | 8.1% | 12.4 | $804/mo | $537/mo | $1,485/mo | $1,021/mo | 5.3% |
| 2018 | $2,169 | $1,567 | 14.1 | 8.2% | 12.2 | $964/mo | $633/mo | $1,662/mo | $1,156/mo | 5.5% |
| 2017 | $2,299 | $1,413 | 12.2 | 10.3% | 9.7 | $894/mo | $536/mo | $1,730/mo | $1,013/mo | 5.0% |
Panama compared with Latin America and the Caribbean
| Country | Apartment price per m² (city centre) | Gross rental yield (city centre) | Price-to-income ratio | Mortgage interest rate (20-year fixed) |
|---|---|---|---|---|
| Panama | $2,519 | 8.7% | 11.1 | 6.3% |
| Argentina | $2,312 | 3.0% | 21.1 | 98.0% |
| Bolivia | $1,120 | 5.7% | 12.8 | 7.7% |
| Brazil | $1,778 | 4.5% | 16.5 | 10.8% |
| Chile | $2,813 | 4.3% | 17.5 | 5.3% |
| Colombia | $1,241 | 4.8% | 18.7 | 14.7% |
| Costa Rica | $1,659 | 7.0% | 9.4 | — |
| Dominican Republic | $1,450 | 7.4% | 15.5 | 14.2% |
| Ecuador | $1,214 | 6.1% | 11.3 | 10.9% |
| Mexico | $1,852 | 7.7% | 10.7 | 11.4% |
Related
- Properties for sale in Panama (5,253)
- Mortgages in Panama for foreigners
- Panama market overview
- Tax rates in Panama
Prices, rents, yields and mortgage rates: Numbeo (crowd-sourced, national averages of city data). Values in US dollars.