If you live in Europe and have started looking at Panama, there is a new waterfront launch worth knowing about. GLP has opened sales on Tower III at Ipanema Waterfront Residences in Costa del Mar, Panama City, the third and final tower of a community that already has two towers standing. For buyers from Spain, Germany, France, the Netherlands, the UK and most of the rest of Europe, it also sits in an interesting spot on the residency map: GLP's own sales site lists Ipanema from USD $412,000, which is above the property thresholds for both of Panama's main investment residency routes.
Below is what GLP has published about the tower, how the residency rules apply to European passports, and what we would ask before reserving a unit.
1. What GLP has launched
Ipanema Waterfront Residences is GLP's oceanfront community in Costa del Mar, minutes from Costa del Este, the district that holds many of Panama City's multinational offices, shops and international schools. Tower III, designed by Mallol Arquitectos, completes the original plan next to Towers I and II, and GLP describes it as using the same design language as the first two.
GLP (Grupo Los Pueblos) has been developing in Panama since 1985. Its sales presentation lists Albrook Mall, the Gran Terminal de Transporte bus terminal, the Playa Caracol beach community and the Ocean Reef Islands among its projects.
The sales presentation and residential collection (August 2026) list:
- About 7,500 m² of social areas and more than 30 resort-style amenities.
- New with Tower III: a 25 m lap pool (Towers I and II share a 50 m pool), a spa with treatment rooms, sauna, steam room and cold plunge, Pilates, a beauty salon, coworking, a golf simulator, a cinema, a pool bar, a beach deck bistro and a hammock area.
- Access to Costa del Mar's private man-made beach and its sports areas: tennis courts, soccer fields, basketball courts and a running track.
- Tocumen International Airport about 15 minutes away, per GLP.
- Nearby, per the same brochure: Hospital Pacífica Salud (affiliated with Johns Hopkins Medicine), several international schools, supermarkets and the Town Center and Atrio malls.
2. The apartments, floor by floor
GLP's typical floor plan (level 400) shows seven units, each facing a different way:
| Unit | Faces | View | Type | Area |
|---|---|---|---|---|
| 1 | Northwest | Costa del Mar | D1 | 57.6 m² |
| 2 | Northeast | Park | D2 | 69.1 m² |
| 3 | Southeast | Ocean and park | A1 | 99.9 m² |
| 4 | South | Ocean | A2 | 93.8 m² |
| 5 | South | Ocean | A3 | 93.8 m² |
| 6 | Southwest | Oceanfront | B2 | 96.3 m² |
| 7 | Southwest | Ocean and Costa del Mar | C2 | 123.9 m² |
Across the tower, GLP's Residential Collection groups the layouts into five families: Olas (type A, two bedrooms), Viento (type B, two bedrooms), Amanecer (type C, three bedrooms), Atardecer (type D, one bedroom) and Velero (penthouses). Total areas run from 50.5 m² for the smallest one-bedroom to 201.7 m² for the largest penthouse, and several types grow slightly on higher floors. GLP notes that the images and specifications are illustrative and may change.
For a European reader used to measuring in square metres, these sizes are easy to compare with home. Prices are in US dollars, so if you earn in euros, pounds or Swiss francs, the exchange rate on the day you pay each instalment matters as much as the list price.
Want the current price list and the floor plans for a specific view? Book a free consultation, take the 4-question residency check, or message Jake on WhatsApp.
3. Residency: how European passports fit in
Property and residency are linked in Panama, and the numbers on this tower matter for both main routes.
Friendly Nations. Panama's Friendly Nations route covers 51 countries. In Europe that includes Germany, Austria, Belgium, Croatia, Cyprus, the Czech Republic, Denmark, Estonia, Finland, France, Greece, Hungary, Ireland, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Slovakia, Spain and Sweden, plus Andorra, Liechtenstein, Monaco, Montenegro, Norway, San Marino, Serbia, Switzerland and the United Kingdom. Italy is not on the list, so Italian buyers need a different route. The National Migration Service (SNM) requires a Public Registry certificate showing property worth at least $200,000 in your name, your company's or your private interest foundation's, and it says the purchase can be financed by a local bank.
One practical point for off-plan buyers: the SNM asks for the Public Registry certificate of a property you own. A unit that is still under construction is usually not registered in your name yet, so ask a lawyer how the timing works for your file, or whether a fixed deposit (the SNM also accepts $200,000 for three years in a Panamanian bank) makes more sense in the meantime.
Qualified Investor. Executive Decree 17 of 2026, in force since September, replaced the earlier Qualified Investor rules. According to Panamanian law firms' summaries, a new property bought directly from the developer qualifies at $300,000, while a resale needs $500,000. This route gives permanent residency directly. A first sale from GLP is the kind of purchase the $300,000 tier is meant for, but confirm with a lawyer that your contract, the payment schedule and the registration meet the decree's conditions before you count on it.
If residency is part of your plan, decide which route you are using before you sign, because it changes how the purchase should be structured. Simon Girard on our team handles residency and bank accounts, and he works in English, French, Spanish and Portuguese.
4. What we would ask before reserving
GLP's Tower III brochures do not state a delivery date, a payment plan or maintenance fees. None of that is unusual for a new launch, but it is exactly what a buyer from abroad should get in writing:
- Price and inventory on the day. Which units and views are still available, and the price of each.
- Payment schedule. Reservation amount, deposit, instalments during construction and the balance at delivery.
- Delivery date and penalties. The contractual delivery date and what happens if it slips.
- Structural design code. After the October earthquake, ask which code the structure is designed to. Panama's current code is REP-2021. Our post-earthquake checklist explains why.
- Monthly maintenance fee. An estimate per square metre, and what it covers with more than 30 amenities.
- Rental rules. Whether short-term rentals are allowed in the building, if you plan to let it out while you are in Europe.
- How the money moves. Wiring from a European bank, and whether you will open a Panamanian account first. Our banking page covers how that works.
We are an introduction service. We put you in touch with GLP's sales team and with independent professionals for the residency file, the bank account and the legal review. Each quotes its own fees, and any referral fee is disclosed.
5. Ask GLP directly, tomorrow night
Webinar Wednesdays is our free live webinar on Zoom, every Wednesday at 8 PM Panama time. In Europe that is 1 AM on Thursday in London and Lisbon, and 2 AM in Madrid, Paris, Berlin and Amsterdam. This Wednesday, November 4, our guest is Mitch Bubb of GLP Properties Panama on secure, profitable real estate for international buyers, so it is a good chance to put your Ipanema questions to GLP directly. If the hour does not suit you, register anyway and send your questions ahead. Save your seat, or register directly on Zoom.
More reading: why foreign buyers are driving Panama's property market in 2026 and mortgage options for foreigners in Panama City.
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Sources
- GLP International Sales, Ipanema (from USD $412,000): https://glpinternationalsales.com/ipanema/
- GLP, Ipanema Waterfront Residences project page: https://glp.com.pa/en/proyecto/ipanema/
- GLP, Ipanema Tower III sales presentation (August 2026), Residential Collection and Views and Floorplans (developer documents, available on request)
- Servicio Nacional de Migración, requirements for Friendly Nations (Países Amigos) residency: https://www.migracion.gob.pa/wp-content/uploads/02-PAISES-ESPECIFICOS.pdf
- Servicio Nacional de Migración, decrees list (Executive Decree 17 of 2026; Executive Decree 16 of 2026 adding Ecuador to the Friendly Nations list): https://www.migracion.gob.pa/decretos-3/
- Mirabello Consultancy, "Panama Friendly Nations Visa 2026: 51 countries" (country list; Italy not included): https://www.mirabelloconsultancy.com/es/immigration/panama-friendly-nations-visa
- Legal 500 (Quijano & Associates), "Panama Updates Its Permanent Residency Regime For Qualified Investors": https://www.legal500.com/intelligence/panama/finance-and-banking/panama-updates-its-permanent-residency-regime-for-qualified-investors
- Nubia Legal, "Panama Overhauls Qualified Investor Residency: What Executive Decree 17 of 2026 Changes", October 7, 2026: https://nubia.legal/en/news/panama-qualified-investor-residency-executive-decree-17-2026
