Can I buy real estate in Panama with cryptocurrencies?

Yes, you can acquire any form of real estate in Panama using cryptocurrency via Panacrypto, whether it’s located in the city or rural area. The procedure is similar to buying property with traditional currencies but with an extra step: before the purchase, cryptocurrencies are converted to fiat currency through an OTC exchange transaction that is safeguarded under escrow.

Do I Need A Realtor In Panama To Buy A Property?

Not neccessarily, but having a real estate professional by your side is always a good idea, especially when you are new to the country! When looking for Panama real estate properties for sale, it is essential to find a reliable and trustworthy agency to work with, as property prices and professional attitude among agencies can vary drastically in Panama. Panacrypto is your reliable and well connected partner, specialized in providing world class real estate & payment services in the country of Panama. Get in touch with us today!

Can US Citizens Live In Panama?

Of course it is legal for US Citizens to live in Panama. Without a Visa, you can also visit the country for 180 days in a row - after that, you would need to leave and come back again. For pensioners and retirees, there are also different options to choose from. For example, if you can prove a monthly income of $1000 into a Panamanian bank account, you can apply for the Retirement Visa and stay in the country for as long as you choose. For more details, contact us anytime!

How to invest in real estate using cryptocurrency?

The process of purchasing with Panacrypto is similar to purchasing with USD. The difference lies in that Panacrypto exchanges the cryptocurrency to USD through an OTC exchange. OTC exchanges have the ability to process high-volume transactions without affecting the market price of securities. The funds are then securely held in escrow until needed for the down payment or final purchase transaction.

Is There A Different Price For Crypto Transactions?

There is a slight increase in the sales price when you choose to pay with crypto, yes. In order to purchase a property with Bitcoin for example, the funds have to be exchanged under escrow and then sent to the seller via wire transfer. The total exchange fee (including legal & fiduciary, as well as bank fees) amounts to 5.5%. For more information about buying a property with crypto, get in touch with us anytime!

Is Panama A Good Place To Buy A Property?

The Panama real estate market offers favorable return on investments, has good property conditions and a home or land investment always comes at a fair price - especially when compared with US-American or European property prices! Panama is one of the most affordable countries when it come to real estate and many Westerners are beginning to think about relocating to the country. There are several areas in Panama that are perfect for a vacation or weekend-home, including Altos del Maria, Bocas del Toro, Coronado, San Carlos, Buenaventura, Pedasi, Colon & Boquete. The price for a property can be quite different in these areas, but there is definetely something for every budget.

How high are the fees for purchasing a property with cryptocurrencies?

When buying a property with crypto through Panacrypto, there are crypto-fees of ca. 5% of the transaction volume due to banking, exchange and fiduciary fees. All fees are already incorporated into the prices you can see on the Panacrypto platform, and there are no hidden fees.

Can A Foreigner Buy A House In Panama?

Yes. It is legal for foreigners to buy and hold a property in Panama in person. Although, it is always convenient to found a Panamanian corporation to hold the property in its name. When investing into a property that is worth more than $300k, you are eligable for the Panama Qualified Investor Visa, which would allow you to stay in the country indefinetely. For any questions regarding the process of buying a property in Panama, Visa application or legal issues, feel free to get in touch with us!

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Panama Real Estate Market

Panama offers a wide range of real estate options, including properties by both the Caribbean and Pacific Oceans, featuring beautiful beaches, islands, and archipelagos. Additionally, Panama has mountain areas with cooler climates and unique plants and animals. There are also agricultural areas with stunning river views and valleys. For those interested in nature, Panama has rainforests and jungles, as well as urban areas, suburbs, gated communities, and more, catering to all preferences.

Buying real estate in Panama is quite straightforward and similar to the process in other countries. Most properties are titled or can be titled. Traditional mortgages are available, and Panama has laws that protect foreign investors and their rights to property ownership. All titled properties are listed in the Public Registry of Panama, which can be accessed online, making it easy for buyers to find information.

Real Estate - FAQ

What is the average price of real estate in Panama?

Yes, there is variability based on location and type. Prices for homes in Panama can vary widely. For example, three-bedroom apartments in Panama City typically range from $190,000 to $300,000 or more. Detached homes in safe areas of Panama City start around $300,000 and can exceed $500,000 depending on various factors such as location, quality, and age of the building.

What factors influence the price of a home in Panama?

Yes, several key factors determine home prices. The price of a home in Panama is influenced by its location, views, building age, and quality. Properties in prestigious locations or near metro stations command higher prices. Additionally, properties with panoramic views or from reputable developers are highly valued.

How does buying a property in Panama work?

Research and identify a desirable property
Hire a real estate agent or lawyer to assist with the transaction
Negotiate the price with the seller
Sign a purchase agreement
Transfer the funds to an escrow account
Obtain necessary government permits
Transfer the title to the buyer’s name
Close the sale and take possession of the property.
It is important to have a clear understanding of the legal process and procedures in Panama to ensure a smooth transaction.

What are the current trends in the Panama real estate market?

The market shows growth and increased interest from foreign buyers. The Panama real estate market is experiencing a rise in property values, driven by a decrease in inventory and increased demand from foreign buyers, particularly from regions like the United States and Canada. This trend is reinforced by political stability and an attractive investment climate.

How has the Panama real estate market recovered from recent global events?

There has been a noticeable recovery. After a slowdown in 2020, the Panama real estate market has shown signs of recovery with prices stabilizing and even showing slight upward trends in 2023. This recovery is supported by ongoing foreign investment and strategic economic sectors like mining boosting the economy.

What is the price range for luxury properties in Panama?

Luxury properties vary significantly in price. In prime areas like Punta Pacifica and Costa del Este, prices can range from $2,300 to $3,000 per square meter. These areas are popular due to their central location, proximity to luxury amenities, and the presence of multinational corporate headquarters.

Are there any particular areas in Panama known for high-value properties?

Yes, several areas are renowned for their high-value properties. Areas like Santa Maria, Costa del Este, and Punta Pacifica are known for their luxury real estate offerings, with prices often starting at around $2,800 per square meter. These areas are desirable due to their modern amenities, strategic location, and exclusive communities.

What is the outlook for the Panama real estate market in the coming years?

The market outlook is positive. Factors such as regional instability in other parts of the world and upcoming elections are expected to influence the market dynamics, potentially leading to increased foreign investment and sustained growth in property values.

What should potential buyers know about the process of buying real estate in Panama?

Understanding local market conditions is crucial. Buyers should be aware of the influence of various factors on property prices, such as proximity to amenities, quality of construction, and economic conditions. It's also advisable to consider the historical price trends and current market predictions when making investment decisions.

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