Cost of Living in Panama

"I suppose for normal people (unlike me) you'd best have a couple thousand dollars per month," remarked one in Las Tablas.

"We do fine with $2000/monthly for everything. But, no mortgage, car payment, credit card bills..," explained one expat.

"A couple (renting) can live in a condo and a very comfortable lifestyle, eating out a time or two a week, for $2-2.5K/ month in this area or less depending on where you live. We are pretty spoiled," said one person in Nueva Gorgona.

"Our situation on isla Solarte in Bocas is such that we can live comfortable spending $1500 a month. Renting an apartment in town and riding a bicycle can produce a similar situation. I have older, single friends who live in town who spend much less than we do," remarked one expat in Bocas del Toro.

"The cost of living in Panama is generally considered to be very affordable. Groceries, rent, utilities, healthcare and other necessities are typically more affordable than in many other countries. The cost of dining out, entertainment, and other services is also competitive. Panama is a great option for those looking to live comfortably and keep their cost of living low," explained one expat living in Panama.

"Its 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," explained one expat.

"Electricity more, especially when fuel prices soar. Cable is same. No ppty taxes, but now have $400 a month maintenance in the bldg, which includes water, garbage, common area items. When I look at check registers from California, I'm reminded that we paid a monthly (smaller) fee, but paid for garbage removal, gardener for back yard, all utilities, cable, phone. Here I can live with a cell phone only," wrote a person living in Panama City.

"Monthly rental is $905.00 per month cheaper. Housing here is between $600 $700 for two bedrooms. There are real estate people here who will find a house or apartment for you. Be prepared, every local has his hand out. Everyone from the cab drivers to our exterminator will offer to find a house for you. They have contacts and get commissions. But make no mistake, the Panamanians are all good-hearted and mean well. Sometimes strike gold," explained one expat living in Alto Boquete.

"Actually, they are comparable! I came here from living in Phoenix for the last year. Had to be very fiscally conservative there-just another victim of the economic debacle-and so I am prepared to continue this ecomically challenged life-style. It is what it is! Panama offers such an amazing variety of natural riches,that I feel quite wealthy! And grateful for this opportunity to live a different kind of life and blessed to be here," said one in Panama City.

"Average home would probably go for 150K to 250K, depending on location and how modern it is. Depends on what you are looking for. Take the time to do your research with various real estate companies. You can pay beaucoup the bucks for waterfront mansions," explained one expat who made the move to Coronado.

"The rental price for a nice 1 bedroom apartment in Panama is generally in the range of $500 to $800 per month, while a nice 2 bedroom apartment can typically be rented in the range of $800 to $1200 per month," said one expat living in Panama.

"There are homes available for lower rents in Gorgona but I'm in a condo on the beach and that is the market I’m familiar with. Furnished two bedroom, two bathroom rentals along the beach in a condo usually run from $900 to $2,000 and above. Many rents include WiFi, electricity, gas, water, trash collection. Be sure to know what is included," mentioned one expat in Nueva Gorgona.

"Rental properties in Panama commonly include kitchen appliances such as refrigerator, oven and stove, common laundry appliances such as washer and dryer, air conditioning units, fans and window screens to keep out insects, and occasionally furnishings, depending on the agreement between the tenant and the landlord. Additionally, it is common practice for landlords to provide households with basic, essential utilities such as water, electricity and internet," wrote one expat.

"In the furnished condos along the beach, kitchens have all appliances.. these include refrigerator, stove and microwave, many even have washers/dryers, dishwashers, and garbage disposals. They are often furnished with toasters, blenders, coffee makers and other small kitchen appliances and table service too. Units usually have air conditioners too. It's a good idea to check the kitchen out thoroughly and see what is there," commented one expat who moved to Nueva Gorgona.