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Moving to Contadora Island, Panama | Expat Exchange
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Moving to Contadora Island, Panama

By Joshua Wood, LPC

Last updated on Jul 08, 2024

Summary: Moving to Contadora Island, Panama: Expats, retirees and digital nomads talk about everything you need to know before moving to Contadora Island.

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

What do I need to know before moving to Contadora Island?

When we asked people what advice they would give someone preparing to move to Contadora Island, they said:

"Contadora Island, is a popular destination for expats due to its tropical climate, beautiful beaches, and relaxed lifestyle. Before moving there, it's important to know that Spanish is the official language, so learning some basic phrases can be helpful. The cost of living can be higher than in other parts of Panama due to its island location, so budgeting accordingly is essential. The island is small, with a population of just a few hundred people, so it offers a close-knit community feel. The healthcare facilities on the island are limited, so for serious medical issues, you may need to travel to the mainland. The island's economy is primarily based on tourism, so job opportunities may be limited to this sector. The island has a tropical climate, with a rainy season from May to November, and a dry season from December to April. While the island is generally safe, it's still important to take standard precautions to protect your personal safety and belongings. The island is accessible by ferry or small plane from Panama City, but keep in mind that transportation can be affected by weather conditions. Finally, it's important to understand the visa and residency requirements for living in Panama, as you'll need to ensure you're legally allowed to stay in the country long-term," explained one expat living in Contadora Island, Panama.

How do I find a place to live in Contadora Island?

We asked expats how they chose their neighborhood and found a place to live. They answered:

"Finding a place to live in Contadora Island, involves several steps. First, you need to determine your budget and the type of accommodation you're looking for. This could range from a simple room rental to a luxury villa. Next, you should research online real estate platforms that list properties in Panama. Websites like Encuentra24, Compreoalquile, and Panama Realtor are popular options. These platforms allow you to filter your search based on location, price, property type, and other factors. You can also consider hiring a local real estate agent who specializes in Contadora Island properties. They can provide you with listings that match your criteria, arrange viewings, and guide you through the purchasing or renting process. Another option is to visit Contadora Island and look for "For Rent" or "For Sale" signs. This can be a good way to find properties that may not be listed online. Once you've found a potential place, make sure to inspect it thoroughly. Check the condition of the property, the amenities, and the neighborhood. If you're planning to rent, ask about the terms of the lease, including the duration, the rent, and any additional costs. Finally, before making a final decision, spend some time on the island to see if it suits your lifestyle. Consider factors like the availability of services, the community, and the activities on offer. Remember, moving to a new place, especially an island, is a big decision. Take your time to research and consider all your options before making a commitment," remarked one expat in Contadora Island, Panama.

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What is a typical expat home or apartment like in Contadora Island?

"Expat homes or apartments in Contadora Island, are typically designed to blend in with the tropical surroundings. They are often spacious, with open floor plans to allow for natural light and air circulation. The homes are usually built with high-quality materials to withstand the tropical climate, including features like tiled floors and high ceilings. Many homes have large balconies or terraces, offering stunning views of the ocean or lush greenery. The interiors are often furnished with comfortable, tropical-style furniture and modern appliances. The kitchens are usually fully equipped, and the bedrooms are often air-conditioned. Many homes also have private pools, gardens, and outdoor living spaces to take advantage of the warm weather. Despite being on an island, these homes often come with modern amenities such as high-speed internet, satellite TV, and even home security systems. They are usually located within close proximity to the beach, restaurants, and other local attractions. However, it's important to note that living on Contadora Island can be quite different from living in a city. The island has a relaxed, laid-back vibe, and the pace of life is much slower. The local community is small and tight-knit, and many expats enjoy the sense of camaraderie and the opportunity to immerse themselves in the local culture," explained one expat living in Contadora Island, Panama.

What is the average cost of housing in Contadora Island?

If you are thinking about moving to Contadora Island, cost of living in probably a key consideration. Expats commented about the cost of housing:

"The average cost of housing in Contadora Island can vary greatly depending on the type and size of the property. For a luxury villa, prices can range into the millions, while smaller homes or condos may be more affordable. On average, you can expect to pay a few hundred thousand dollars for a decent-sized home. However, rental properties are also popular on the island, with prices varying based on the season and length of stay," said one expat in Contadora Island.

Should I buy or rent a home in Contadora Island?

If you have not spent a lot of time in Contadora Island, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:

"The decision to buy or rent a home in Contadora Island, largely depends on your personal circumstances, financial situation, and long-term plans. If you plan to stay on the island for a long time, buying a home could be a good investment. Owning a property allows you to build equity over time and could provide a potential source of income if you decide to rent it out when you're not using it. On the other hand, renting a home can offer more flexibility. If you're not sure how long you'll be staying or if you prefer not to deal with the responsibilities of homeownership, renting might be a better option. Renting can also be more affordable in the short term, as it doesn't require a large down payment. It's also important to consider the real estate market in Contadora Island. If property values are rising, buying a home could be a smart financial move. However, if the market is unstable or if property values are declining, renting might be safer. Lastly, consider your lifestyle and preferences. If you enjoy the freedom to move around and explore different places, renting could be more suitable. But if you prefer stability and the feeling of owning your own place, buying a home could be the right choice. In conclusion, both buying and renting have their own advantages and disadvantages. It's crucial to carefully consider your financial situation, long-term plans, and personal preferences before making a decision. Consulting with a real estate professional or financial advisor could also be beneficial," replied a member in Contadora Island.

What should I pack when moving to Contadora Island?

We asked people living in Contadora Island to list three things they wish they had brought and three they wish they had left behind. They responded:

"When moving to Contadora Island, it's essential to pack lightweight and breathable clothing due to the tropical climate. Include items like shorts, t-shirts, and sundresses, as well as a light jacket or sweater for cooler evenings. Don't forget your swimwear, as the island is known for its beautiful beaches. Pack a good pair of walking shoes or sandals suitable for walking on the beach and exploring the island. Also, include a hat, sunglasses, and plenty of sunscreen to protect yourself from the sun. Bring along your necessary toiletries, but keep in mind that many items can be purchased on the island. However, if you have specific brands you prefer, it might be a good idea to bring them with you. Remember to pack any prescription medications you need, along with a copy of your prescription. It's also a good idea to bring a basic first aid kit for minor injuries. If you plan on cooking, consider packing some non-perishable food items, as the selection on the island can be limited and more expensive. Don't forget your important documents, such as your passport, driver's license, and any necessary visas or permits. It's also a good idea to have copies of these documents in case they get lost. Lastly, pack entertainment items like books, games, or a laptop. While the island offers plenty to do, there may be times when you want to relax at home," remarked one expat who made the move to Contadora Island.

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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.
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What cultural faux pas should I try to avoid making in Contadora Island?

We asked people in Contadora Island if they could share any humorous cultural blunders they commited. For new expats, keep in mind that these incidents are an inevitable part of expat life. Learning to laugh about them is the key!:

"When visiting Contadora Island in Panama, it's important to respect the local customs and traditions. Avoid wearing revealing clothing, especially in religious or traditional settings, as it can be seen as disrespectful. Panamanians value punctuality, so try not to be late for appointments or social gatherings. Avoid discussing sensitive topics such as politics, religion, or personal finances, as these can be seen as intrusive or disrespectful. It's also considered rude to interrupt someone while they're speaking, so wait for your turn to talk. When dining, remember that it's customary to finish everything on your plate, as leaving food can be seen as wasteful or unappreciative. Panamanians are generally friendly and hospitable, so refusing an invitation or not reciprocating a greeting can be seen as rude. Always remember to say "please" and "thank you" as common courtesy. Lastly, avoid littering or damaging the environment, as Panamanians take pride in their natural surroundings. Always dispose of your trash properly and respect the local flora and fauna," remarked one expat in Contadora Island, Panama.

About the Author

Joshua Wood Joshua Wood, LPC joined Expat Exchange in 2000 and serves as one of its Co-Presidents. He is also one of the Founders of Digital Nomad Exchange. Prior to Expat Exchange, Joshua worked for NBC Cable (MSNBC and CNBC Primetime). Joshua has a BA from Syracuse and a Master's in Clinical and Counseling Psychology from Fairleigh Dickinson University. Mr. Wood is also a licensed counselor and psychotherapist.

Some of Joshua's articles include Pros and Cons of Living in Portugal, 10 Best Places to Live in Ireland and Pros and Cons of Living in Uruguay. Connect with Joshua on LinkedIn.

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SJB Global

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SJB Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model.
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