Panama City has many apartments available for sale or to rent. As with any city, there are good areas to live in, and some less desirable neighborhoods to avoid. The most popular areas for Downtown residences include Punta Paitilla, Bella Vista, Obarrio, El Cangrejo and Marbella. If you are new to Panama City, it is always a good idea to rent first to try out the neighborhood before you buy.
As with many cities across the USA, there has been a great building frenzy in recent years, and this makes the skyline of Panama very distinctive, especially along the coastline bordering the City and Corridor Sur. From most apartments the views of the ocean and surrounding mountains are very beautiful. However, as new high-rise buildings continue to appear, the view may suddenly become rather more restricted in this no-zoning environment.
Most apartment buildings offer 24-hour security, parking and elevators. There may also be a swimming pool, social areas and exercise facilities. Many of these amenities will be included in the rent, along with water, trash removal and basic cable TV, but do check your lease agreement first. If you are on a low floor, then barred windows are essential for security.
Rental/lease agreements are an official government document. Regardless of the term, they are cancelable with 30 days written notice, an important fact to know if you are not satisfied with the home. A security deposit of one month’s rent is usually required and is deposited with a copy of the signed agreement with the Housing Ministry (MIVI). It will be returned once the tenant has satisfactorily vacated the property.
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