Posted by Maria Arias on August 22, 2017 | | 0

How much does it cost to live in Panama?

Panama City offers a safe and low-cost lifestyle. It is a cosmopolitan city that at the same time you can find in a few minutes a lush nature where you can easily rent a property. Living in Panama is one of the best destinations to buy or rent a property and retire. It is important to emphasize that Panama's economy is constantly growing, which means that it is an ideal country for investment

You can live in Panama comfortably with $ 2,000 or $ 1,500 a month. 

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Cost of living in Panama

Restaurants

Eating at a restaurant in Panama can be made for less than $ 7 per person, while a 3-course meal for 2 at a fancy restaurant can be around $ 35. Meals at fast-food restaurants are cheaper than in Europe or the USA.

Shopping

Panama has the best shopping centers in Central America. The five major shopping centers in Panama are: Multiplaza in Punta Pacifica, Albrook Mall, Multicentro in Avenida Balboa, Metro Mall near the international airport and the Westland Mall in Arraiján.

Public Services

For less than $ 250 you can cover the cost of electricity, water, and internet. The telephone service and other basic services are also inexpensive compared to other countries for example: a cell phone data plan is only about $ 20 per month.

Accommodation

It is possible to find a two bedroom apartment in a normal area of Panama for $ 900. You can also get a studio apartment at $ 500 per month. You can know more about the different areas to live in Panama in this link.

Transportation

It is easy to get around Panama City without having your own car. If you live in a central area like El Cangrejo, Bella Vista, El Carmen, Via España or Vía Argentina you can do almost everything walking.

A taxi ride costs around $ 3 or you can buy a rechargeable card that costs two dollars to use the Metrobus or Metro. The cost of the Metrobus ticket is $ 0.25 and the metro is $ 0.35, operates by routes and does not accept cash.

Panama City also has a private transportation network such as Uber and Cabify. 

Financial Services

Panama has a strong financial services sector, you will find ATMs that give access to your account from anywhere in the world. You will also find in Panama City a sophisticated banking sector with more than 100 banks.

Health Services

Health insurance and health care are cheap and high quality. Doctors and dentists trained in English can be found. Several hospitals are equipped with the latest testing and diagnostic services. The prescriptions and medicines are quite cheap. Full coverage health insurance policies are very reasonably priced for any age, as low as $ 250 for a couple.

When you think of buying a property in Panama you need the help of someone who knows how the process of buying and selling is. At TDI Real Estate we are experts in buying and selling properties in Panama, and we can help you find the right property for you.

Advantages of living in Panama

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