Home Panama Forum Panama Guide Moving to Panama Real Estate Healthcare in Panama
Panama
Resources
City Guides
Cigna International Health Insurance
JoinSign In
Cigna International Health Insurance

Panama City > Cost of Living in Panama City, Panama

Cost of Living in Panama City, Panama

By Betsy Burlingame

Last updated on: Oct 29, 2019

Summary: Should you move to Panama City for a lower cost of living? The answer may surprise you.

Living in Panama - Cost of Living in Panama City, Panama

Panama's Cost of Living has Risen

"Panama is no longer cheap, though not expensive. In most places you can live without a car if you want. Utilities are cheap, except electricity-keep this in mind if you want to live at low elevation. Real estate is slow now and deals can be had on rentals and purchases (but rent to try out before buying) A couple can rent and live comfortably, but not extravagantly, on $2000 a month," wrote one expat.

"It's not as cheap as I thought it would be. Food is the same or more. Restaurants are cheaper. Transport much cheaper. Clothing and appliances are probably cheaper in US. We have better sales in US," wrote one American who decided to retire in Panama City.

Expats living in Panama interested in expat health insurance should take a minute to get a quote from our trusted expat health insurance partner, CIGNA. Get a Quote

Expats living in Panama interested in expat health insurance should take a minute to get a quote from our trusted expat health insurance partner, CIGNA.

Rental Housing Prices

"A 2-bedroom, 2 bath in a new-build building would run about USD 1500-1700/month, furnished. Apartments in older buildings cost less. Many apartments, such as mine, are much larger - 3 or more bedrooms, family room/den, service quarters, etc. My apartment here is as big as a small house would be in Montreal. Let's compare amenities with Montreal: staffing levels are higher here, so service, cleanliness and maintenance are better than in places where salaries are higher. For example, here there are 2 janitors on duty 8 hours/day, 6 days/week. In Montreal my building had 1 janitor on duty 7 hours/day, 5 days/week. There is security/doorman 24/7, Common areas, gym, pool, party rooms are better. Just nicer for your money. You'd have to come check it out yourself. Suggest you look at the website Encuentra24 to get an idea of what is on the market in your chosen areas. PC is a big city," said one expat.

Cost of Typical Monthly Expenses

"[The cost of a] Used car depends on model, type, age, miles, you can always find a expat ready to sale one cheap because they are moving back. 5k to 10k ins. well that is cheap, about 200 dollars per year on a used car. Power bill 100 to 200 per month. Water 6 dollars. Gas a large 100 lb tank should last you a year at about 75 dollars. Cable and wifi the more you buy from them, like tv internet, phone - cheaper the bill. I get their fastest package for around 65 dollars per month. House rental is 500 and up. Food, again depends on your taste," explained one expat.

Moving to Panama soon? AGS Worldwide Movers is a leader in the international moving industry. Their experience and expertise allows them to guarantee their clients the best quality moving services. Get a moving quote today.

Low Cost of Living Doesn't Always Equal Happiness

"In my experience economic migrants who move to Panama ONLY to reduce their cost of living wind up bitter and disappointed because life in a developing country with a different culture and language has challenges that aren't erased by lower costs," commented one expat.

Deciding Where to Live in Panama

If you're thinking about moving to Panama and haven't narrowed down where you would like to live, consider taking a tour with our partner, Panama Relocation Tours.

Join our Panama Expat Forum

Visit our Panama Forum and talk with other expats who can offer you insight and tips about living in Panama.

Read Next

10 Tips for Living in Panama

Did you know it's hot in Panama City all year round? Did you know that it's hard to get a work visa in Panama? Did you know that Panama has great incentives for foreign retirees?

5 Great Places to Retire in Central America

Central America is an increasingly popular retirement destination. Retirees love it's proximity to the United States, lower cost of living, beautiful cities, amazing beaches, healthy lifestyle and friendly people.

7 Best Places to Live in Panama

Panama is a great place to live or retire with easy residency laws, warm people and lots of expats. Whether you want to live by the beach in Bocas del Toro or need to live in Panama City for work and schools, there are many places to explore. We highlight 5 great places to live in Panama.

Thanksgiving in Panama

American expats in Panama can enjoy a traditional Thanksgiving meal at these restaurants.

About the Author

Betsy Burlingame Betsy Burlingame is the Founder of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Some of Betsy's more popular articles include 6 Best Places to Live in Costa Rica, 12 Things to Know Before Moving to The Dominican Republic and 7 Tips for Obtaining Residence in Italy. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.

Cigna International Health Insurance

Write a Comment about this Article

Sign In to post a comment.

Updated On: Oct 29, 2019

First Published: Oct 29, 2019

Expatriate Health Insurance

Get a quote for expat health insurance in Panama from our partner, Cigna Global Health.
Get a Quote

16 Expats Talk About Moving to Panama

Expats living in Panama talk about making the big move to Panama, what they wish they had brought (and left behind), visas, culture shock, cost of living and more. It's a must read for anyone thinking about moving to Panama.
Expats living in Panama talk about making the big move to Panama, what they wish they had brought (and left behind), visas, culture shock, cost of living and more. It's a must read for anyone thinking...

10 Tips for Living in Panama

Did you know it's hot in Panama City all year round? Did you know that it's hard to get a work visa in Panama? Did you know that Panama has great incentives for foreign retirees?

Did you know it's hot in Panama City all year round? Did you know that it's hard to get a work visa in Panama? Did you know that Panama has great incentives for foreign retirees? ...

5 Great Places to Retire in Central America

Central America is an increasingly popular retirement destination. Retirees love it's proximity to the United States, lower cost of living, beautiful cities, amazing beaches, healthy lifestyle and friendly people.

Central America is an increasingly popular retirement destination. Retirees love it's proximity to the United States, lower cost of living, beautiful cities, amazing beaches, healthy lifestyle and fr...

7 Best Places to Live in Panama

Panama is a great place to live or retire with easy residency laws, warm people and lots of expats. Whether you want to live by the beach in Bocas del Toro or need to live in Panama City for work and schools, there are many places to explore. We highlight 5 great places to live in Panama.

Panama is a great place to live or retire with easy residency laws, warm people and lots of expats. Whether you want to live by the beach in Bocas del Toro or need to live in Panama City for work and...

Retirement-In-Nueva-GorgonaAn Expat Shares What it's Like Retiring in Nueva Gorgona, Panama

An expat retired in Nueva Gorgona, Panama wrote an extensive report about her experiences there. Everything from cost of living, housing, safety, how it feels to retire abroad, transportation and more are covered. A definite must read for anyone considering retiring in Panama!

An expat retired in Nueva Gorgona, Panama wrote an extensive report about her experiences there. Everything from cost of living, housing, safety, how it feels to retire abroad, transportation and mor...

Moving-To-Nueva-Gorgona-An Expat Talks about Moving to Nueva Gorgona , Panama

An expat talks about moving to Nueva Gorgona and advises newcomers to rent before buying so that you can move if you don't end up liking the neighborhood. We couldn't agree more with this advice!

An expat talks about moving to Nueva Gorgona and advises newcomers to rent before buying so that you can move if you don't end up liking the neighborhood. We couldn't agree more with this advice! ...

Panama Guide
Other Links
Our Story Our Team Contact Us Submit an Article Advertising Travel Warnings

Copyright 1997-2019 Burlingame Interactive, Inc.

Privacy Policy Legal