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Cost of Living in Panama City, Panama | Expat Exchange
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Panama City, Panama


Cost of Living in Panama City, Panama

By Betsy Burlingame

Panama Legal Business (PANLEB)
Panama Legal Business (PANLEB)

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

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.

Panama Legal Business (PANLEB)Panama Legal Business (PANLEB)
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Explore Panama Legal Business for a full suite of legal services tailored to your needs. From obtaining residency and visas to opening bank accounts, obtaining apostilles, conducting background checks, setting up businesses, and navigating real estate transactions, trust our experience and dedication to guide you through every step of the process in Panama.

Panama Legal Business (PANLEB)Panama Legal Business (PANLEB)

Explore Panama Legal Business for a full suite of legal services tailored to your needs. From obtaining residency and visas to opening bank accounts, obtaining apostilles, conducting background checks, setting up businesses, and navigating real estate transactions, trust our experience and dedication to guide you through every step of the process in Panama.
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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.

Kovalenko & Vera Attorneys at Law in PanamaKovalenko & Vera Attorneys at Law in Panama
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Kovalenko & Vera is a Panamanian law firm that specializes in immigration law, corporate law, real estate law, banking, contract negotiation, taxes and flag registry. With more than 20 years of professional practice, Kovalenko & Vera builds lasting relationships with our clients to ensure your interests are safeguarded.

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Kovalenko & Vera Attorneys at Law in PanamaKovalenko & Vera Attorneys at Law in Panama

Kovalenko & Vera is a Panamanian law firm that specializes in immigration law, corporate law, real estate law, banking, contract negotiation, taxes and flag registry. With more than 20 years of professional practice, Kovalenko & Vera builds lasting relationships with our clients to ensure your interests are safeguarded.
Connect

Click connect to have our partner contact you via e-mail and/or phone.

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.

Panama Legal Business (PANLEB)

Learn MoreGet Quotes

Explore Panama Legal Business for a full suite of legal services tailored to your needs. From obtaining residency and visas to opening bank accounts, obtaining apostilles, conducting background checks, setting up businesses, and navigating real estate transactions, trust our experience and dedication to guide you through every step of the process in Panama.

Panama Legal Business (PANLEB)

Connect

Explore Panama Legal Business for a full suite of legal services tailored to your needs. From obtaining residency and visas to opening bank accounts, obtaining apostilles, conducting background checks, setting up businesses, and navigating real estate transactions, trust our experience and dedication to guide you through every step of the process in Panama.

About the Author

Betsy Burlingame Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.

Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.


Panama Legal Business (PANLEB)
Panama Legal Business (PANLEB)

Panama Legal Business (PANLEB)
Panama Legal Business (PANLEB)

Panama City, Panama

Panama Legal Business (PANLEB)
Panama Legal Business (PANLEB)

Discover a full range of legal services in Panama, from residency and visas to bank accounts, company formation, and real estate advice. Trust Panama Legal Business.
Get Quotes

Panama Legal Business (PANLEB)Panama Legal Business (PANLEB)

Discover a full range of legal services in Panama, from residency and visas to bank accounts, company formation, and real estate advice. Trust Panama Legal Business.
Get Quotes

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