Santa María Residences: A Close Look at Panama City's Golf-Side Homes

Santa María Residences: a unique project in one of Panama City’s most coveted areas

Mundo introduces a unique opportunity in an upscale neighborhood in Panama City: Santa Maria Residences. Santa Maria, Panama, is just beyond Costa del Este, with easy access to the downtown area yet a natural ambiance and a retreat-like feel. The large park, only for residents, and an 18-hole golf course give it an air of exclusivity that makes it upscale and highly coveted.

The project, Santa Maria Residences, has the most cost-effective units in the area, constituting a unique opportunity to buy high-end real estate at accessible prices. It will have two- and three-bedroom apartments between 81 and 85 square meters, and premium 160-square-meter penthouses, ideal to accommodate families, retirees, corporate travelers, and expats. 

Santa Maria Residences key facts:

• 44 levels (penthouses from level 3800 to 4400)
• Eligible for Qualified Investor with apartments starting at 360K
• 360-degree views of the city from the top floors
• Private cinema included in the building’s facilities 
• Gated community, 10 minutes from the city center, 5 minutes from Costa del Este
• Best prices in the Santa María district
• 2 minutes from the golf club

The project’s position within the Santa María master plan

Santa Maria Residences will rise behind PH Colonial, in Santa Maria, Panama, with direct access to fast-track routes to drive downtown or nearby neighborhoods. Costa del Este, one of Panama’s most developed districts, is just 5 minutes away, downtown Panama is 10 minutes away, and the Tocumen International Airport is 15 minutes away.

The golf course, golf club, and sports facilities

The amenities in Santa Maria, Panama are chosen for elite living and focused on a relaxed lifestyle. Although there is a commercial center, the area is mostly residential. Its most outstanding facility is the golf course, with 18 holes, and the golf club, which adds value to the area as a rental yield driver. The master plan includes a large, resident-exclusive park with a lake. 

Buyer profile: who benefits the most from a unit in Santa Maria Residences

Their size and convenient floor plans, with distributions of two and three bedrooms, make Santa Maria Residences perfect for small families, retirees, or investors who want to obtain rental yield within a gated community.

A unit of such high standards is rarely found at these prices in Santa Maria, which constitutes a unique opportunity. Investors can start to build their portfolio, and families can buy a comfortable and nice, golf-side place for less than 400K.

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The residences: How will people live in Santa Maria Residences?

Types and sizes: from cozy apartments to fancy penthouses

Buyers can choose apartments ranging from 81 to 85 square meters or penthouses on the upper levels, each with 160 square meters. Average prices are USD 370,000 for apartments and USD 750,000 for penthouses. 

The 81-square-meter apartments have 2 bedrooms and 2 bathrooms, an integrated living room, dining room, and kitchen, a laundry room, a balcony, and a walk-in closet. On the other hand, the 85-square-meter apartments have extra room in the common areas and the kitchen. 

Regarding the bedroom sizes, they differ slightly from model to model. For example, a Model A apartment, with 85 square meters, has a master bedroom of 3.20 x 4.00, while the 81-square-meter apartment (Model F) has a slightly smaller master bedroom of 3.40 x 2.80.

The table shows Santa Maria Residence’s two clearly defined tiers: the apartment type, with an average of 81-84 square meters and prices around USD350,0000 -USD 370,000, and the penthouses, which require almost twice the investment but are twice as big. In other words, this means that all apartments are eligible for the Qualified Investor program. 

According to the project's master plan, penthouses will be on the highest floors from level 3800 to level 4400, while apartments are spread throughout levels 700 to 3700, with 6 per floor. All the inferior levels are designated for the lobby, the parking lots, and the complex amenities, which include a spa, a social lounge, a swimming pool, a gym, and sport courts. One of the project's most picturesque amenities is that it will have its own cinema. 

Mundo expert’s opinion: Since prices start at USD360,000, Santa Maria Residences can make buyers eligible for immediate permanent residency through the Qualified Investor Visa

Beyond the purchase: annual taxes and fixed costs 

Santa Maria vs Downtown Panama City: amenities, potential, and price per square meter 

At the moment of writing, the price per square meter at Santa Maria Residences is USD 4,693. Prices downtown can surpass this range or may be slightly lower, depending on the neighborhood, accessibility, prestige, and the building’s features. 

Prices vary according to the area and development: USD 6,549 (El Cangrejo), USD 4,050 (Avenida Balboa), USD 3,135 (Obarrio), and USD 5,767 (Punta Pacífica). Punta Pacifica can be compared to Santa Maria in terms of style and premium design, and in the fact that they are both mainly residential.

However, they present their differences: Punta Pacifica is mostly crowded with modern towers, and its charm lies in the marina and fancy waterfront rather than in lush landscapes. It has less land available; this is why developments in Punta Pacifica are rare and highly coveted, presenting a unique opportunity for short-term rental, especially in the medical tourism niche.

The table shows the project’s competitive price per square meter not only within Santa Maria but also when compared with downtown Panama City. Furthermore, it allows access to an exclusive, safe gated community a short ride away from urban amenities.

Annual costs: property tax, community dues, maintenance

The success of an investment is largely based on smart estimations at the time of purchase and throughout the asset’s lifetime. Knowing the approximate monthly expenses becomes necessary for expats who are looking at Panama as a possible relocation destination. 

With the following table, the buying party can have a general overview of monthly and annual estimated costs.

*Prices are estimated and might be outdated at the time of reading. Updated information about costs and prices is provided only through formal consultations

According to the table above, we can estimate approximately a maintenance fee of USD168 for apartments and USD320 for penthouses in Santa Maria Residences. Owners should add a USD100 monthly fee charged by the community, regardless of the apartment’s size. Thus, apartment owners will pay roughly USD268 and penthouses owners roughly USD420.

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The rental scenario: corporate and diplomatic tenants

One usually associates places like Santa Maria with a retreat for retirees or stay-at-home parents, and projects like Pullman with business trips and fleeting corporate stays. While it is natural that conference attendees seek accommodation near the event’s venue, other corporate or diplomatic officers come to Panama for months or even years.

These tenants particularly enjoy the type of amenities found in Santa Maria and appreciate a quiet environment after work. The golf course brings an upscale touch and can help them meet like-minded people and other expats. Regarding the project itself, it’s convenient for two types of tenants: single corporate officers, and corporate officers moving with their spouse and toddlers or young children. 

Santa María Residences and the Qualified Investor Visa

Meeting the investment threshold

All apartments at Santa Maria Residences are eligible for Panama residency programs. The investor visa (known as Qualified Investor visa) requires a minimum of USD 300,000, Friendly Nations requires a minimum of USD 200,000, and Pensionado visa requires a minimum of USD 100,000. Although the three visas include real estate, one way or the other, they are intrinsically different. Check out the infographic below for more insights into their differences.

Structuring the purchase for the immigration file

To apply for Panama residency, the applicant must buy real estate and comply with the corresponding requirements of the chosen visa. For the Qualified Investor visa, the minimum threshold is USD 300,000, as stipulated in Executive Decree 193, and the applicant must be of legal age and invest with funds from abroad. As for Friendly Nations, applicants must be citizens of a list of 50 countries that are considered to be friendly to the Republic of Panama, and Pensionado applicants must have a lifetime pension.

Residences or rental: uses, formats and how to make a decision

Unlike other developments that are strictly oriented towards rentals, Santa Maria Residences is flexible and allows the owner to use the units according to their needs and preferences. The objectives of the purchase are for the investor to decide and must be defined according to current needs and weighing short-term and long-term benefits. 

In this sense, projects like Santa Maria Residences are a great fit thanks to their flexibility, which is quite convenient because needs shift through the years. An investment like this allows a change of strategy 5 or 10 years from now, even with the possibility of selling and maintaining Panama residency after holding it for five years.

Disclaimer: the prices, fees, and costs described in this article are estimated and may be inaccurate or outdated at the time of reading. This article doesn't constitute legal or investment advice. These costs, prices, floor plans, apartment features, and building characteristics must be confirmed with the developer.

Why buy through Mundo: How we work and how we can help you

Mundo assists with financial services and investments that belong with the international investor and global citizen sector. Our team works remotely, based in different jurisdictions, which gives us flexibility and availability to assist clients from different backgrounds and speaking different languages. 

Furthermore, we have a physical office in Panama City with on-site staff, and a sub-team specially dedicated to real estate in Panama. Besides, we are master brokers for Mercan Group projects, world-class developers who recently landed in Panama with outstanding developments such as Santa Maria Residences and Pullman. 

With a strong presence in Panama and several years of experience, our team will be happy to assist you. Contact us and find out more about Santa Maria and other developments in Panama.

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