Cost of Living in Panama in 2021

Cheryl Moderator

17047POSTS

5 years ago

Hello everybody,

We would like to take stock of the changing cost of living in Panama, particularly in your city or region. The aim is to measure the impact that the health crisis may have had on your expenses.
This will help other expatriates on the spot and all those who would like to relocate there in the near or more distant future.

> What is the price of a property rental in Panama? What about buying a property?

> How much does petrol cost or how much does it cost to use the various public transport services?

> How much do you spend on average on your weekly groceries in Panama? Have you noticed a change in the price of staple foodstuff?

> What is the price of your health insurance? How much does seeing a general practitioner or specialist cost?

> How much are your children's school fees? What about the cost of childcare?

> How much do you spend on your regular bills (water, electricity, mobile phone package, internet subscription etc.) on a monthly basis?

> What budget do you set aside for your leisure activities in Panama? What is the price of a cinema or concert ticket? How much does a subscription to a gym cost?

Do not hesitate to indicate any other price changes you may have in mind.

Many thanks,

Cheryl,
Expat.com team

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cbassols New member

4POSTS

5 years ago

Hello,
I'm a semi-retired US ex-pat living in Panama City. Currently, I'm renting from a friend and live in a lovely apartment in Paitilla for an unusually good rate.

Although my situation isn't the norm here, one can find studios and one-bedrooms for under $600 a month in a good neighborhood. A friend rented a two-bedroom with a terrace for $750. Shop around. I was surprised at what I found.

As far as buying property, I've been instructed to bargain, bargain, bargain. I'm from the DC area so I thought a 10% reduction in price was being "tough but respectful". A Panamanian friend laughed at me.

I don't have a car and only can tell you it's easy to rent a car when you need to get away from the city. Public transportation in the city is quite good and CHEAP! The metro is beautiful and clean. The busses are fine but have at least 2 types of public lines. One is .75 per ride and always has air-conditioning, the other is .35 and is often crowded, hot, and may break down. The second line has more stops and takes a great deal more time.

I'm not a dedicated cook so I shop easy, fresh food that I don't have to turn on the stove to prepare. Fresh fruit and vegetables are available everywhere. I got a medium-sized pineapple, 6 bananas, and an avocado "para hoy" for $3.5 from a street vendor, for example. I have noticed supermarkets do seem to have fewer products since the beginning of the pandemic.

As far as how much I spend on leisure, if I could go out, I would set aside 25% out of my monthly budget for hobbies, dinners, travel, etc. Currently, I'm saving money.

kristc99 Serial expat

883POSTS

5 years ago

I've tracked our cost of living now and then over the last 8 years and it really hasn't changed that much. Here in Chiriqui fruits and veggies continue to be available and affordable. Now we are mostly staying home because of the pandemic so our car is now getting 3 months to the gallon (ha!). But generally we (a retired couple) are living really well on $1200/mo or less (basic living expenses)
https://blog.thepanamaadventure.com/3-t … in-panama/