From 9.4% gross to what you keep
Short answer: A published 9.4% gross yield (Miró, El Cangrejo) becomes about 7.6% if signed rents run 19% under asking, and about 7.0% after one empty month a year, before maintenance fees, management and taxes. The ranking of towers barely changes; the level does.
Every yield on a listing or a neighbourhood report starts as asking rent times twelve over price. This note walks six El Cangrejo towers through the two adjustments you can make with public numbers, then lists the ones only you can fill in. Brax calculation, illustrative: the 19% gap is a city-wide indicator, not a tower measurement.
Step 1: start from the published gross yield
lakilé publishes gross yields for six El Cangrejo towers, from 9.8% (Luxor 100+200) to 6.7% (Mont Royale). They compare asking rent per m² with registry closing price per m². lakilé notes that asking rent is the ceiling of what a tenant ends up paying.
Step 2: haircut for signed rents, then one empty month
In our rent analysis, ACOBIR’s MLS recorded signed rents about 19% below the asking average city-wide in the first half of 2026. That is a small, city-wide base, so the table applies it uniformly as an illustration. Then it subtracts one vacant month a year (11/12), a deliberately mild assumption.
| Tower | Built | Published gross | × 0.81 (signed vs asking) | Then minus 1 empty month |
|---|---|---|---|---|
| Luxor 100+200 | 2006 | 9.8% | 7.9% | 7.3% |
| Miró | 2014 | 9.4% | 7.6% | 7.0% |
| Marquis Tower | 2008 | 8.2% | 6.6% | 6.1% |
| Van Gogh | 2022 | 7.5% | 6.1% | 5.6% |
| Luxor 400+600 | 2024 | 6.8% | 5.5% | 5.0% |
| Mont Royale | 2007 | 6.7% | 5.4% | 5.0% |
Step 3: the costs only you can fill in
Maintenance fee (cuota), management fee if you use one, repairs and furnishing wear, and income tax on rent are all specific to the unit and your structure. We do not invent them here. Take the last column of the table as the ceiling before those, then run your numbers in our yield calculator guide.
What the walk changes, and what it does not
The order of towers is unchanged: the older towers still lead, and the 2022–24 towers sit near 5.5–6.1% at signed rents (about 5.0–5.6% after the empty month). The level is what moves, and it moves a lot: the best tower drops from 9.8% to about 7.3%, close to where a good new tower started. That is why comparing a tower’s published gross yield with a bank rate or a rival country’s net yield overstates the case for property.
Where the high yields come from
Two of the top three towers (Miró, Luxor 100+200) also hold much of the neighbourhood’s frozen-title and auction cases in lakilé’s review. A higher yield may be partly priced for that risk. Order a title study on the specific unit before comparing yields at all.
Related: Chart of the Week #3: newer, not richer, The rent reality check.
Common questions
Is a 9% gross yield in Panama City realistic?
As an asking-rent figure, yes in some towers (lakilé reports 9.4–9.8% in two El Cangrejo towers). At signed rents around 19% lower, the same towers fall to about 7.6–7.9%, before fees and vacancy.
How do I turn a gross yield into a net yield?
Multiply by signed-rent realism, subtract vacancy, then deduct maintenance fee, management, repairs and taxes with your own figures. Our worked table covers the first two steps only.
Do newer towers yield less in El Cangrejo?
On lakilé’s September 2026 data, the two newest towers yield 7.5% and 6.8% gross, below the neighbourhood median of 7.8%, but a 2007 tower yields 6.7%, so age alone is not the rule.
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