Coco del Mar
Panama City, Panama
Guide Price
$499,000
$499,000 USD · $362/sqft
PROPERTY TYPE
Condo
BEDROOMS
2
BATHROOMS
2
SIZE
1378 sq ft
Description
San Francisco – Mandarín Bay For Sale: $400,000 206.32 sqm — 3 bedrooms | 3.5 bathrooms | den | balcony | ocean view Located in the heart of San Francisco, one of Panama ...
Location
Open in Google MapsLiving in Panama City
The US dollar is the currency here, which eliminates exchange rate headaches entirely -- and living costs run 35-50% less than comparable US cities. Modern high-rises in neighborhoods like Punta Pacifica and Costa del Este feel like Miami, with US-trained doctors and familiar American chains everywhere. One of the easiest residency programs in the world (Friendly Nations visa), though traffic is brutal and the humidity is relentless.
Morning coffee overlooking the Pacific, an afternoon thunderstorm that resets the heat, and the strange comfort of paying for everything in dollars while howler monkeys scream from the trees.
Visa
Friendly Nations Visa — available to US citizens with professional/economic ties to Panama. Requires employment, $200,000 real estate investment, or $200,000 bank deposit. Grants 2-year provisional residency, then permanent. Pensionado Visa — for retirees with $1,000+/mo pension, extensive senior discounts on flights, restaurants, and utilities.
Learn more: Golden Visa Programs: Buy Property, Get Residency→Key Fact
Panama uses the US dollar, has no income tax on foreign-earned income, and offers a Pensionado program with extensive senior discounts (flights, restaurants, utilities). It is the most tax-friendly destination on this list for US expats.
Learn more: The $126,500 Tax Break for Americans Abroad→Panama at a glance
How Panama scores for American expats
Cost of buying in Panama
Estimated fees and ongoing costs for this property
Closing Costs
3-5% of purchase price
- ·Transfer tax: 2%
- ·Registration: 0.3%
- ·Legal fees: $1,500-3,000
- ·Title search: $300-500
Annual Costs
Property Tax
0% for first 5-20 years on new construction (tax exemption), then 0.5-1%
Insurance
$400-1,000/yr
HOA / Condo Fees
$100-400/mo for condos
Good to Know
Agent Fees
Seller pays (5%)
Foreign Buyer Note
No restrictions on foreign buyers. One of the most buyer-friendly countries. Tax exemptions on new construction are a major advantage.
Legal help in Panama
Hire your own attorney — not the seller's. We'll match you with a vetted local lawyer.
Need a local attorney in Panama?
We'll connect you with an independent, English-speaking real estate attorney experienced with foreign buyers. Not the seller's lawyer — yours.
Next steps for moving to Panama
Interested in this property? Here's how to move forward.
Understand the buying rules
Foreign ownership laws vary wildly by country. Some welcome you, others restrict or ban foreign buyers entirely.
Sort out your visa
Owning property doesn't give you the right to live there. Research residency options before you buy.
Plan your finances
Understand currency risk, international wire transfers, and whether you can get a local mortgage.
Know your tax obligations
US citizens are taxed on worldwide income. You'll need to file US taxes from abroad and may owe local taxes too.
Set up healthcare
Medicare doesn't cover you overseas. You'll need international health insurance or a local plan.
Run the full checklist
Banking, mail forwarding, power of attorney, pet import rules — the complete pre-move checklist.
Encuentra24.com
120,000
USD