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Retire in Panama City, Panama | Expat Exchange
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Panama City, Panama

Retire in Panama City, Panama

By Joshua Wood, LPC

Last updated on Mar 09, 2023

Summary: Panama City, Panama is a popular destination for retirees due to its low cost of living, beautiful beaches, and vibrant culture. There are several retirement communities in Panama City, offering a variety of amenities such as swimming pools, fitness centers, and social activities. The cost of a nice two bedroom home in Panama City is typically around $150,000 USD, while a nice three bedroom home can cost around $200,000 USD. The weather in Panama City is generally warm and humid, with temperatures ranging from the mid-70s to the mid-90s Fahrenheit.

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

What is it like to retire in Panama City?

"Life for a retiree in Panama City and its surroundings is quite enjoyable. There is an active expat community, with many retirees from the United States and Europe. There are plenty of cultural attractions to explore, such as the Panama Canal, the Panama Viejo ruins, and the many museums and galleries. There is also plenty of recreation to be had, from hiking in the nearby mountains to swimming in the Caribbean Sea. For those looking for nightlife, there are plenty of bars, clubs, and restaurants to explore," commented one retiree living in Panama City, Panama.

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What advice do overseas retirees have for others considering retiring abroad?

"Don't do it because you think you save a lot. At least not in Panama. Rural, small city town US is probably just as cheap overall. But healthcare is a big issue now and you can save a lot in Panama. Getting outside the US could be good if conditions in US get bad. I would probably choose Asia if I could. But it is too far away. Since I need to travel a lot back to US," remarked one retiree in Panama City.

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What are the most challenging aspects of retiring in Panama City?

"One of the most challenging aspects of retiring in Panama City is the language barrier. Although English is widely spoken in the city, Spanish is the official language and is used in most official documents and interactions. Additionally, the cost of living in Panama City is higher than in other parts of the country, making it difficult to stretch retirement savings. Furthermore, the city is prone to natural disasters such as hurricanes and flooding, which can cause significant damage and disruption. Finally, the healthcare system in Panama City is not as advanced as in other countries, making it difficult to access quality medical care," remarked one retiree in Panama City.

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What are the most rewarding aspects of retiring in Panama City?

"Retiring in Panama City offers a variety of rewarding experiences. The city is known for its vibrant culture, with a variety of festivals and events throughout the year. The cost of living is relatively low, making it an attractive option for retirees. The city also offers a wide range of outdoor activities, from hiking and biking to swimming and snorkeling. The climate is tropical, with warm temperatures year-round, making it a great place to enjoy the outdoors. Additionally, Panama City is home to a diverse population, with a variety of cultures and languages, making it a great place to meet new people and learn about different cultures," said a retiree who moved to Panama City, Panama.

What are healthcare services like in Panama City?

We asked retirees if they have access to good medical care in Panama City. They wrote:

"Healthcare services in Panama City are generally of a high quality. The city has a number of private hospitals and clinics that offer a wide range of medical services, including general practice, specialist care, and emergency services. The public healthcare system is also well-developed, with a number of public hospitals and clinics providing free or low-cost care. In addition, there are a number of pharmacies and health stores that provide over-the-counter medications and other health-related products," explained one retiree living in Panama City.

How do I meet people in Panama City?

When we asked people living in Panama City about club and activities where newcomers can meet others, they responded:

"Expats in Panama City often join clubs and activities such as golf, tennis, sailing, and hiking. Expats can also join local language classes, book clubs, and cooking classes. Additionally, many expats join local churches, volunteer organizations, and business networking groups. Expats can also meet people by attending local events such as festivals, concerts, and art shows. Additionally, many expats make friends by exploring the city's restaurants, bars, and cafes," said one retiree in living in Panama City, Panama.

What is life like in Panama City?

When we asked people living in Panama City what life is like and how people spend their time, they said:

"Priorities start with family, extended family, family friends, other friends, socializing, sports, all other non-work related activities, and finally: work," commented one retiree living in Panama City, Panama.

"Life for expats and digital nomads in Panama City is generally quite pleasant. The city is a vibrant and modern metropolis with plenty of amenities and activities to keep expats and digital nomads entertained. The cost of living is relatively low, making it an attractive destination for those looking to stretch their budget. The city is also home to a diverse population, with many expats and digital nomads from all over the world. The city is also well-connected, with a reliable public transportation system and easy access to the rest of the country. Overall, Panama City is an excellent destination for expats and digital nomads looking for a vibrant and affordable place to live," explained one retiree living in Panama City.

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What do I need to know before retiring in Panama City?

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

"We see service dogs all the time here in Panama City in the malls, restaurants and bars. They accept them inside and some even offer them a water dish," explained one retiree living in Panama.

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What type of recreational activities are there in Panama City?

"Panama City offers a variety of recreational facilities for visitors and locals alike. The Amador Causeway is a popular spot for walking, biking, and rollerblading, with stunning views of the Panama Canal and the city skyline. The Cinta Costera is a 3.5-mile long waterfront park that is great for running, walking, and rollerblading. The Panama Canal Yacht Club is a great spot for sailing, fishing, and other water sports. The Metropolitan Natural Park is a great place to explore the local flora and fauna, with trails for hiking and biking. The Biomuseo is a museum dedicated to the biodiversity of Panama, with interactive exhibits and a butterfly garden. For those looking for a more urban experience, the city has a variety of shopping malls, restaurants, and nightlife," remarked one retiree in Panama City.

Where will I buy groceries and do other shopping in Panama City?

"The Albrook Mall is the largest mall in Latin America, so there is plenty of shopping for when you need it. Albrook is also the hub for bus and plane service to travel throughout Panama, and there is a Metro station next to the bus terminal as well," remarked one retiree in Panama City.

"In Panama City, expats can find a variety of grocery stores and shopping centers to meet their needs. The largest supermarket chain in the city is Super 99, which has several locations throughout the city. Super 99 offers a wide selection of international and local products, as well as a variety of fresh produce. Additionally, expats can find a variety of international products at the Multiplaza Pacific Mall, which is a large shopping center located in the heart of the city. The mall also has a variety of restaurants, cafes, and stores. For more local products, expats can visit the Mercado de Mariscos, which is a large seafood market located in the city's historic district. Here, expats can find a variety of fresh seafood, as well as other local products," explained one retiree living in Panama City.

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.

Panama City, Panama
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AGS Worldwide Movers

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AGS Worldwide MoversAGS Worldwide Movers

AGS Worldwide Movers can move you to and from anywhere in the world.
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Panama Legal Business (PANLEB)
Panama Legal Business (PANLEB)

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