Penonomé, Coclé: a 2026 real estate and investment guide to central Panama
Penonomé is the capital of Coclé Province in central Panama: a district of 104,326 people (2023 census) on the Pan-American Highway, about 1.5 hours west of Panama City and 30 minutes from the Pacific beaches. It is one of the lowest-cost places in Panama to buy new, titled construction. At Residencial Las Golondrinas, a new 3-bedroom apartment starts at $106,990 and a 3-bedroom house at $119,990, both under the $120,000 cap of Panama's Preferential Interest Law.
| Penonomé at a glance | Fact |
|---|---|
| Province | Coclé (Penonomé is the provincial capital) |
| District population | 104,326 (2023 national census, INEC) |
| Main road | On the Pan-American Highway (Vía Interamericana) |
| Drive to Panama City | About 1.5 hours |
| Drive to Pacific beaches | About 30 minutes |
| Drive to El Valle de Antón | About 45 minutes |
| New 3-bedroom apartment | From $106,990 (Horizonte, 81.59 m² / 878 sq ft) |
| New 3-bedroom house | From $119,990 (Primavera, 115 m² on a 316 m² lot) |
| Currency | US dollar (the balboa is pegged 1:1) |
Where is Penonomé, and how do you get there?
Penonomé sits in the geographic center of Panama, in Coclé Province, directly on the Pan-American Highway. From Panama City the drive is about 1.5 hours west. From Penonomé it is about 30 minutes to the Pacific beach towns of Coclé and about 45 minutes to the mountain town of El Valle de Antón. Residencial Las Golondrinas is on Calle 66N in the Cuarto Centenario area, 1 minute from the highway and 5 minutes from downtown Penonomé.
What does new construction cost in Penonomé?
New titled homes in Penonomé start under $120,000. Residencial Las Golondrinas, a 94-home development (84 apartments and 10 houses) by Eisenmann Real Estate, publishes fixed pre-sale prices:
| Model | Type | Price | Price per m² |
|---|---|---|---|
| Horizonte | Apartment in tower · 3 bed / 2 bath · 81.59 m² | $106,990 | ≈ $1,311 |
| Primavera | Single-family house · 3 bed / 2 bath · 115 m² on its own 316 m² lot | $119,990 | ≈ $1,043 (built area) |
Price per m² is the list price divided by the built area. Construction is under way and delivery is projected for April 2027. The maintenance fee is $50 per month. See the Horizonte and Primavera models.
How do Penonomé prices compare with Panama City?
A new apartment in Penonomé costs roughly a third to a half less per square meter than an apartment in Panama City. TheLatinvestor's September 2026 data shows purchase prices of about $1,889 per m² in the San Francisco neighborhood and $2,546 per m² in Costa del Este, with a median 2-bedroom apartment at $245,000. The Horizonte apartment in Penonomé is about $1,311 per m², which is 31% below San Francisco and 49% below Costa del Este. The full trade-offs are in our comparison of central Panama vs Panama City for real estate investment.
What services are in Penonomé?
Penonomé is the commercial and administrative hub of Coclé. Within about 5 minutes of Las Golondrinas are downtown Penonomé, the Hospital Aquilino Tejeira, a Super 99 supermarket, and branches of Banco General, Banistmo, BAC and Global Bank. Residents do their daily errands in town and use Panama City for international flights and specialized services.
Who is buying in Penonomé?
As the developer of Las Golondrinas, the buyers we work with so far are mostly Panamanian families purchasing a first home with bank financing through Caja de Ahorros under the Preferential Interest Law. Foreign buyers are a newer segment for Penonomé than for the beach corridor or the capital, which is part of why prices here remain low.
Is Penonomé a good place to invest in real estate?
Penonomé suits an investor who wants a low cost basis in US dollars and titled new construction, and who accepts a smaller, less documented market than Panama City. The case on both sides:
- For: entry prices from $106,990 for a new 3-bedroom unit; titled property registered in the Registro Público; a dollar economy; a location on the country's main highway between the capital and the beaches; pre-sale pricing while construction advances.
- Against: Panama has no public MLS, and there is no published rental-yield dataset for Penonomé, so rents must be checked locally; the resale market is smaller and less liquid than in Panama City; pre-construction carries delivery risk (delivery here is projected for April 2027); and bank financing terms for non-resident foreigners are stricter than for residents.
We do not publish a projected yield for Penonomé because the data to support one publicly does not exist yet. Any return is a projection, never a guarantee.
How do you estimate a rental return in Penonomé?
Gross rental yield is annual rent divided by purchase price. At the Horizonte price of $106,990, every $100 of monthly rent equals about 1.12% of gross yield. To get a net figure, subtract the $50 monthly maintenance fee, vacancy, management, insurance and taxes. For reference, Panama City apartments show about 7.57% gross according to Global Property Guide data cited by TheLatinvestor (September 2026), and landlords there keep roughly 4.5%–6% before financing and income tax. Ask us for current rental comparables in Penonomé before you model a return.
Can foreigners buy property in Penonomé?
Yes. Foreigners can own titled property in Panama with the same rights as nationals, and no residency is required to buy. Our guide to buying property in Panama as a foreigner covers the process, taxes and financing. On residency: Panama's Qualified Investor program currently requires a minimum real estate investment of $300,000, so a single Las Golondrinas unit does not qualify on its own. We do not give immigration or legal advice; we connect buyers with a Panamanian attorney.
Looking at Penonomé from abroad?
Message us on WhatsApp +507 6635-8362 for current availability and rental comparables, or see the Residencial Las Golondrinas project page.
Sources
- Population: Instituto Nacional de Estadística y Censo (INEC), 2023 national census, district of Penonomé, as summarized in Distrito de Penonomé.
- Panama City prices and yields: TheLatinvestor, "Panama City: Rental Yields for Apartments", updated September 21, 2026, citing Global Property Guide.
- Las Golondrinas prices, areas and delivery date: Eisenmann Real Estate, developer of the project.
Disclaimer: general information, not legal, tax, immigration or investment advice. Prices and program rules change; confirm with a licensed Panamanian attorney and your bank before purchasing.
Frequently asked questions
Where is Penonomé, Panama?
Penonomé is the capital of Coclé Province in central Panama. It lies on the Pan-American Highway about 1.5 hours west of Panama City, 30 minutes from the Pacific beaches and 45 minutes from El Valle de Antón.
How much does a new home cost in Penonomé?
At Residencial Las Golondrinas in Penonomé, a new 3-bedroom apartment (Horizonte, 81.59 m²) starts at $106,990 and a new 3-bedroom house (Primavera, 115 m² on a 316 m² lot) starts at $119,990. These are fixed pre-sale prices.
Are there new apartment towers in Penonomé?
Yes. Residencial Las Golondrinas includes 84 apartments in towers (the Horizonte model: 3 bedrooms, 2 bathrooms, 81.59 m²) plus 10 single-family houses, for 94 homes in total. Construction is under way and delivery is projected for April 2027.
Is Penonomé cheaper than Panama City?
Yes. The Horizonte apartment in Penonomé is about $1,311 per m², compared with about $1,889 per m² in Panama City's San Francisco neighborhood and $2,546 per m² in Costa del Este (TheLatinvestor, September 2026).
What is the rental yield in Penonomé?
There is no public rental-yield dataset for Penonomé, so we do not publish a projected yield. Gross yield is annual rent divided by price: at $106,990, each $100 of monthly rent is about 1.12% gross. Ask for current local rental comparables before modeling a return.