Coronado is Panama’s most established Pacific beach town, located about 60 to 90 minutes from Panama City. Property prices average $2,200 to $2,300 per square meter, with entry-level homes starting around $150,000. Rental yields can reach 8% to 10% annually. Foreigners have the same ownership rights as Panamanian nationals and do not need residency to buy. A completed road project now cuts the drive from the capital to under 45 minutes.
Why Coronado Draws So Many Foreign Buyers
Panama saw a 10.1% increase in visitor arrivals in 2024, and Coronado has been at the center of that growth. The town sits on the Pacific coast, roughly an hour from Panama City, and it has built a reputation as one of the most livable beach communities in Central America.
What separates Coronado from other beach towns in the region is the infrastructure. You get a working town with supermarkets, international schools, clinics, banks, and restaurants, not just a weekend getaway strip. Major chains like El Rey, Riba Smith, and Super 99 operate here. That combination of beach access and real amenities is why retirees, remote workers, and families keep choosing Coronado over more remote alternatives.
A highway improvement project, fully delivered in 2025, reduced the drive from Panama City from two hours or more to under 45 minutes via the La Espiga and Loma Coba corridor. That single change has been a major boost for property demand and long-term valuations.
Coronado, Panama Real Estate Prices in 2025 and 2026
The current average price sits between $2,200 and $2,300 per square meter, making Coronado more affordable than comparable coastal markets in Costa Rica or Mexico. Entry-level single-family homes in gated communities start around $150,000, while oceanview condos and larger estate properties range from $300,000 into the millions.
Gated communities like Vista Mar, Punta Barco, and Coronado Golf have seen 10% to 15% appreciation over the past 12 to 18 months, according to Coastal Panama Properties. Inventory has tightened in these areas, and properties close to the beach or the golf course are selling faster than properties further inland.
Prices on resale homes have come down slightly in some oversupplied pockets near Playa Blanca and VistaMar, where days on market can exceed 300. If you know where to look, that creates real buying opportunities for those willing to do the research.
Property Types and Best Neighborhoods
Coronado is not one neighborhood; it is a collection of distinct communities with different price points and lifestyles.
- Coronado Golf and Country Club is the most established area, with large lots, golf course frontage, and a mature expat community. Prices reflect the prestige, but long-term values here are stable.
- Vista Mar offers ocean views and gated security, popular with Panamanian families and foreign buyers alike. It has seen some oversupply, so negotiation room exists.
- Punta Barco sits about 10 minutes west of central Coronado and attracts buyers who want more seclusion and direct beach proximity. Appreciation here has been strong.
- Nueva Gorgona and Playa Blanca, just east of Coronado, offer lower entry points and newer condo developments with resort-style amenities.
Property types vary from beachfront estates and golf villas to two-bedroom condos and preconstruction apartments. Buying preconstruction can unlock better pricing and developer financing, but it carries more risk and longer timelines.
Rental Income and Investment Returns
Coronado’s rental market is active year-round, with a peak season from January through April when occupancy and short-term rates spike. According to Coastal Panama Properties, a well-managed vacation rental in Coronado can generate more than $12,000 annually, with net returns of 8% to 10%.
Late 2024 data shows 274 active Airbnb listings in the area, with properties achieving an average of 237 booked nights per year and a 65% occupancy rate. Those numbers put Coronado well above many other beach markets in the region.
Unlike Panama City, Coronado does not restrict short-term rentals the same way urban condos sometimes do. That landlord-friendly environment matters if passive income is part of your strategy. One important caveat: Panama has not yet passed formal legislation on short-term rental licensing at a national level. If you are buying specifically for Airbnb income, confirm the property already has the appropriate local permit before you commit.
Mortgage rates for foreign buyers in Panama range from 6.5% to 8.5% as of early 2026, and local banks typically require a minimum 30% down payment. Many buyers, particularly retirees, purchase without financing at all.
How Foreigners Can Buy Property in Coronado
Panama’s property laws are among the most open in Latin America. Foreigners have the same ownership rights as Panamanian nationals and do not need residency, a visa, or government approval to purchase residential property. You can buy with just a valid passport.
There is one geographic restriction worth knowing: foreigners cannot own titled property within 10 kilometers of the borders with Costa Rica or Colombia. Coronado is nowhere near either border, so that rule does not apply here.
The buying process follows a standard sequence. You sign a purchase agreement, a Panamanian attorney conducts title due diligence, and the transfer is registered in the Public Registry. Legal fees typically run 1.5% to 2.5% of the purchase price. You should always insist on titled property. Avoid Right of Possession land, which carries significant legal risk because the government technically holds the title.
One coastal detail matters here: the first 22 meters from the high-tide line is public land. The next 200 meters is often concession land, which can be leased but not owned outright. A local real estate attorney will clarify exactly what you are buying before you sign anything.
Using Your Purchase to Get Panama Residency
Buying property in Coronado can also open the door to permanent residency. Panama offers two main visa pathways tied to real estate investment.
The Friendly Nations Visa is available to citizens of 50 countries, including the United States, Canada, the United Kingdom, and most of Europe and Australia. It requires a minimum real estate investment of $200,000 and leads to permanent residency after a two-year provisional period.
The Qualified Investor Visa is faster, granting permanent residency in as little as 30 days. The minimum real estate investment is currently $300,000, and that threshold is valid until October 2026, after which it is set to rise to $500,000. If residency is part of your plan, locking in a qualifying purchase before that deadline has a clear financial advantage.
Property taxes in Panama are low. Primary residences valued under $120,000 pay 0%. For properties above that threshold, rates remain modest by international standards, and several exemption programs apply to new construction.
What to Watch Before You Buy
Coronado is a strong market, but it is not without risks. A few things to keep in mind before making an offer.
- Oversupply in certain pockets. Areas like Playa Blanca and parts of VistaMar have more inventory than demand can absorb right now. Properties there may sit for 300 days or more before selling.
- Buyer’s premium. Foreign buyers who skip local market research often overpay by 5% to 15% compared to well-advised buyers on similar properties. Hire an independent attorney, not just the seller’s agent.
- Title verification. Always confirm you are buying a titled property registered in Panama’s Public Registry. Right of Possession land is a common pitfall for foreign buyers in coastal areas.
- Short-term rental licensing. If you plan to rent through Airbnb or similar platforms, verify that the property has the appropriate permit. Panama’s short-term rental regulation is still evolving.
- Currency stability. Panama uses the U.S. dollar, so there is no currency risk for American buyers and predictable costs for other international buyers.
FAQs
Can foreigners own property in Coronado, Panama?
Yes. Foreigners have the same property rights as Panamanian citizens in Coronado. No special visa or government approval is required to buy. You can take the title in your own name.
What is the average price of property in Coronado, Panama?
Average prices sit between $2,200 and $2,300 per square meter. Entry-level homes in gated communities start around $150,000, while beachfront and golf community properties can reach several hundred thousand dollars or more.
Is Coronado, Panama, a good real estate investment?
For buyers focused on rental income and long-term appreciation, Coronado has competitive fundamentals: strong occupancy, growing demand, and improving infrastructure. As with any market, location within Coronado matters significantly. Some pockets are oversupplied.
How far is Coronado from Panama City?
A completed road project delivered in 2025 cut the drive to under 45 minutes from central Panama City via the Pan-American Highway.
Can buying property in Coronado lead to Panama residency?
Yes. A purchase of $200,000 or more can qualify you for the Friendly Nations Visa. A purchase of $300,000 or more can qualify you for the Qualified Investor Visa, which grants permanent residency in as few as 30 days. The $300,000 threshold is valid until October 2026.
