El Cangrejo Apartment for Sale | 2BR at PH Zaphiro, Panama City — $250,000

View all 18 photosWhere Panama City Wakes Up: A Corner of El Cangrejo That Feels Like the Center of EverythingThis is city living without the compromise — 115 square meters of comfortable, sensible space in a neighborhood where breakfast, business, and the last glass of wine of the evening are all within a few blocks' walk. PH Zaphiro wraps that lifestyle in a pool, a gym, a barbecue terrace, and round-the-clock security. At $250,000, it's one of the more grounded value propositions in Panama City real estate today. 115 m² of well-proportioned interior spaceTwo bedrooms, two full bathroomsDeeded parking space includedPool, gym, social lounge and event roomRooftop-style terrace with barbecueBackup generator and 24/7 securityHeart of walkable El Cangrejo, steps from the MetroAvailable for sale at $250,000 or rent at $1,700/monthNeighborhoodEl Cangrejo is Panama City's original bohemian quarter — shaded streets, mid-century apartment blocks, and a restaurant scene that runs from three-dollar empanadas to white-tablecloth institutions. It's the rare Latin American capital neighborhood where a car is optional and a good pair of shoes is essential. Expats, professors, diplomats, and lifelong Panamanians share the same sidewalks here, and the mix is what gives the district its warmth. Commute Times: Roughly 10–15 minutes to the banking district and Punta Pacífica, 15–20 minutes to Casco Viejo and the Cinta Costera, about 25 minutes to Albrook domestic airport, and 30–45 minutes to Tocumen International — traffic depending. The Metro at your doorstep makes rush hour largely optional. It works out to roughly $2,175 per square meter — competitive for a centrally located, fully amenitized building in Panama City. Comparable square footage in newer Punta Pacífica or Costa del Este towers typically commands a meaningful premium, and few of those locations offer this level of walkability. Absolutely — the owner is currently offering it at $1,700 per month, which gives you a real-world benchmark rather than a projection. El Cangrejo draws a steady tenant pool of students, medical professionals, embassy staff and long-stay expats, making it one of the more reliable rental submarkets in the city. Yes. Panama grants foreign buyers the same titled ownership rights as Panamanian citizens, with no special permits required for residential property. Purchases are typically closed through a Panamanian attorney with funds held in escrow, and DoPanama can guide you through every step. Not really — and that's the appeal. Groceries, pharmacies, restaurants, banks, clinics and the Metro are all within walking distance. The apartment still includes one parking space for weekend escapes to the beach or the mountains. Residents enjoy a swimming pool, gym, social area, event room, and a terrace with barbecue for entertaining. The building also has two elevators, a backup generator for power interruptions, and 24/7 security. It's an excellent fit. Panama's Pensionado program offers retirees substantial discounts on healthcare, transport, dining and utilities, and El Cangrejo's walkability plus proximity to top private hospitals makes daily life easy without a car. Centrally located, fully amenitized two-bedrooms under $260,000 are getting harder to find in Panama City — and this one is available for either sale or rent, which means it may well be spoken for by a tenant before a buyer. Chat on WhatsApp🏠Interested in This Property?Contact our team for more details, to schedule a viewing, or to make an offer. +507 6443-3341[email protected]Thinking About Selling Your Property?We know this market. List your property and reach qualified international buyers.