Cost of living in Panama – 2015

I live in Panama City, Panama.  My husband and I moved to the Punta Pacifica neighborhood 5 months ago. 

Accommodations-
During our exploratory trip to Panama, we stayed for a month at the Country Inn & Suites, in El Dorado, in PC.  The accommodations were very nice and the cost was about $70 per night, including a light breakfast buffet and free Wi-Fi.  If you book in advance there are some really good specials available. Longer stays offer even better prices  There is another Country Inn closer to the canal but it fills up more quickly and is a little higher in price.  The hotel was clean and the staff was nice but they did not speak much English.  If you stay here, sign up for the Club Carlson Rewards Card and collect the points for future stays in Panama or the US.  Hotels like Hilton and Trump can cost $200 per night.

Public Transportation-
You do not need to own a car to get around in Panama City.  The taxis are very reasonable.  $2, $5, $7 will get you to most places throughout the city.  Maybe $8-$10 to Albrook Mall.  Taxi fare to the airport keeps rising and is $25-$40.  Many taxi drivers are entertainers, tour guides, and Spanish teachers which makes the cost an even better deal.  After you are here for just a short time, you will know if a driver is not being fair and you just say no and find another taxi.  Sometimes there will be a man in the street who will wave taxis for you.  Just give him a dollar for his effort.  Some drivers will ask you what you want to pay, so learn the fares as fast as you can.

The buses always have a very long waiting lines, so I have not tried a bus yet.  I find I can walk almost anywhere in the city for free.  The sidewalks are very walkable in PC despite what some people say.  The sidewalks may be uneven and not perfect but they are definitely walkable    I have walked from Punta Pacifica, along the Cinta Costera, to Casco Viejo.  Casco Viejo is one area where some taxi drivers will try to overcharge.  Whatever you pay to get there is what the fare should be for the return trip.

Food prices-
Food expense is very subjective.  If you eat local beef, chicken, vegetables, eggs, fresh vegetables, or bakery breads the costs are quite good.  A loaf of freshly baked French bread is 68 cents at the Super99.  Chicken, beef, and eggs are about the same as in the US.  Like the Panama For Real guy says in his blog, bananas are super cheap.  A group of 5 costs 78 cents. Panama requires that the stores sell some low cost items.  You can buy "ugly" loose veggies very cheap.  Produce may not look as big and perfect as in the US but it tastes the same.  Imported fruits are perfect and cost about the same as in the US.

It is the US or other international products that will cost a fortune.  A box of Beyer's ice cream is $7.95, Hebrew National hot dogs are $6.95 for a pack of 4.  American brand cheeses are $5-$7.  Local cheeses are cheaper.  There are many US and European products available which is great, but you will pay a high price for them.  There are no buy-one-get-one free sales here.  No weekly ads.   There are a few specials on foods but not often.  The special is usually something free taped to a package.  We buy a mixture of local and US to try to balance the cost.  Our food bill runs $400 a month for 2 people and 1 dog.

Health-
We still have our US employment based insurance.  We have purchased RX meds over the counter at the pharmacy.  My husband's cholesterol meds were higher than in the US pharmacy when using his insurance, but he used the 20% off Pensionado discount and will submit the receipts to our insurance company for reimbursement of the balance.  Check with your US or CDN insurance to see if you can submit your receipts for RX meds for reimbursement.  Make sure to keep each person's receipts separate and be sure the RX name is clearly stated on the receipt.

Rental Costs/Utilities-
Our rent could be considered high.   PC rents run from $1200- $5000, or even more, depending on the neighborhood, furnishings, included utilities, size, view, and amenities.  When you see the rental cost, check to see what is included in the rent and the price might seem more reasonable.  Our apt is completely furnished, right down to the towels and silverware. Our rent includes water, internet, cable, basic phone service, maintenance, a free shuttle van to the malls, a business center, pools, and a concierge staff to assist .

The electric bill is separate but in 5 months we have not paid over $65 per month for electricity.  We have a nice breeze in the daytime and only use the AC at night.  Our building has some special water chilling device on the roof that aids the AC units and keeps the cost low. 

Tickets-
If you have the Pensionado Visa, you will get 50% off on entrance fees at the movies or museums, etc.  I paid $6 to enter the Biomuseo instead of the normal $12 for adults.

Drinks, restaurants-
I drink sodas or water when out.  A cold soda or water from a street vendor is a dollar. At McDonalds, a soda is $1-$2, depending on size.  A can of local beer is 57-69 cents a can at the grocery store.  Lunch in the mall food court runs $5-$6 for a burger combo at McDonalds or $5 for a slice of pizza and soda at Sbarro.  Nicer restaurants are about $20-$25 for 2 for dinner.

Thank you pacificamaryann for this info on the cost of living. I am excited about moving there in the near future. I am hoping to be in Panama in the month of February to check things out.Perhaps we could meet for a coffee and a chat.Cheers!
Kim

Riba Smith is one of the best grocery stores for U.S. and other international foods and products.  Their website has a  list of thousands of products, with photos, prices, and sizes.  Check it out to see what food and supplies actually cost in Panama.  www.ribasmith.com/panama

the dollar is falling falling into an apocalyptic abyss

I missed one expense.

Common Bills-

Our Internet/cable TV/ and telephone package is $52 per month and is included in the rent. 

We bought a Smart Phone for $80 and just add minutes, rather than have a monthly contract.  Minutes can be purchased for $5, $10, $20 etc.

The cable is considered basic but includes channels like ESPN 1, ESPN 2, Fox Sports, HLN, Fox News, Disney, TCM, SciFy, and one Cinemax, all in English.  There are more English channels plus many Spanish channels.   The basic telephone service is just for local calls. 

You can sign up for USTV Now for free and watch ABC, NBC, CBS, and FOX on your laptop.  As long as you have a good Internet signal strength, you can watch TV for free and skip cable TV service. The USTV Now free TV can be upgraded to a full US style cable service with DVR. Our TV expenses are 1/3 of what we paid in the US.

purplebox wrote:

the dollar is falling falling into an apocalyptic abyss

Tin hat alert!  You clearly just landed from Mars!  The major currencies have all fallen relative to the USD!  The CAD (over 10% decline), GBP (approximately 9% decline), JPY (over 10% decline), AUD (over 10% decline) and EUR (over 17% decline) in the past year (11 year low).  With the SNB (Swiss National Bank) recently un-pegging the CHF to the EUR, the CHF is the only one up against the USD.

Please be more specific on when this apocalyptic abyss began!

the currency abyss began when the fed was created
http://en.wikipedia.org/wiki/Tables_of_ … tes_dollar
lending is 50:1 and more
all is pumped in the stock market bubble

We live in David, and I have posted a number of cost of living reports on my blog. blog.thepanamaadventure.com/3-the-cost-of-living-in-panama/

We live in Bocas del Toro Panama in town
Accomodations: anywhere from $10 a night hostel to over a $1000 per night all inclusive hotel, Long term rentals from $150 ( Panamanian local style on up to fancy houses for thousands per month. There is a shortage of long term rentals in the $400 to $800 range.
Public Transportation: Shuttle to Boquete $30, Taxi to David $100, Bus $11, taxi to Bluff beach or Drago $30RT, water taxis depends where you go $1 to Carenero, $3 to Bastimentos, $10 to Red Frog beach, $10 to Solarte and many more getting more expensive as you go further.
Groceries: 2 people $400 to 600 per month
Health Ins: depends on your age age 55 non smoker $55 a month
Energy: Electric $50, Water $7, propane $6.40
Internet $40
Phone: cell on a plan $45, by prepaid minutes $35
Restaurant: 2 people dinner and drinks $40-60 depending how much you drink
coffee or drink: $1.50 to $3
No movie theater here

My observations....dealing with immigration is a freaking nightmare!!! The cost for a new cedula will be about $1000.00. NEVER give a lawyer or anyone money up front. $225.oo for a drivers license. If you get a cedula you have 3 months to get a license so they can track you. Otherwise you need to play the "Fronterra Game" where you need to leave every 3 months to stay legal.

There are no cheap flights from here to anywhere. They built a beautiful new airport in Rio Hato and no commercial flights. Typical Panama thinking. We live in the interior so we need to take a 4-5 hour bus ride to Tocumen to get a overpriced flight to anywhere. All I can do is recommend is COPA AIR for travel and NEVER a USSA carrier. They use old aircraft with worn out interiors and crew. Besides, they don't have any good food, as COPA is fantastic.

If you drive the highways you will be going through numerous speed traps, check points and bogus radar armed cops. Just keep a $5 bill with your license as a "Gift", for the offensive cop. Watch out for the speed-traps as they are usually in the 80-100km zone, then drop to 40km for no reason, except as part of their revenue enhancement program.

Cost of living here is now about $1500 to $2500 a month. We are a family of 2 with 5 dogs and 2 cats so food and supplies are expensive and we grow most all our own fruits and veggies. We never by meat but pollo, pesca and puerco on occasion. The beef here SUCKS, no matter where you buy it. They have no clue on how to prepare the different cuts. Besides the beef was walking around yesterday. They trim all the fat from the beef, there goes the flavor if it actually was aged.

The gov't. price controls are a joke. The markets simply raised the price of everything else about 25%. BTW, ALWAYS CHECK THE EXPIRATION DATES ON EVERYTHING!!!! They buy the USSA supermarkets short/out dated, damaged and discontinued items every month. That's why if you find a favorite product, the next month its gone...forever.  Riba Smith is the best market here, but very expensive. If the have what you need, then its worth it. Otherwise, shop around. The closest one to us is an hour away so we combine it with other needs near them. We also only buy EU or SA products as the USSA brands are loaded with GMO's and other strange chemicals. Besides they are much cheaper and taste much better.

Electricity, Sat TV, Internet and Fuel is still very expensive $2.58 91/87 octane and diesel $2.45 per gallon.

My eyes are getting tired so I'll wrap this up for now.....in short Panama or Costa Rica are NOT what they were 10-15-20 years ago. They are more expensive than in the USSA for most things. Medical needs, we use SALUD and the public hospitals. Medicine at SALUD is very cheap but seldom available. If you have a Rx plan use it as chances are your meds are not available here or if in the pharmacies, are very expensive. You can get most without a Rx except narcotics and most antibiotics. Guess the doctors felt cheated.

Forget the banks here. They don't want you as a customer. We have better and safer ways to keep your money here and away from the IRS. ALL legal.

Be very careful buying land or houses!!! ALL way over priced for the Gringos.

More later if I remember and have time. 

From Volcan, our history for the past almost two years:
Accomodation: We rent a fully furnished two bed/one bath Panamanian style home for $300. We have friends who rent one similar for $350. Deals can be found but one needs to really be diligent in their homework.

Bus/Cab Fares: The cab from one end of town to the other is less than $2. The buses are wonderful and you can go from Volcan to Caizan, Volcan to Cerro Punta, Volcan to David etc. They are fast on the road and stop almost anywhere. Simply wave your hand and they will stop. We have only taken the bus once from Volcan to Rio Serrano and I think it was about $4 each one way.

Food prices are very reasonable if you choose to eat a "local" diet. If you choose to eat more of an American diet then it will obviously cost you more and you'll probably need to make a trip to David to go to Super 99 or Super Baru. We tend to eat a little simpler than some and we find ourselves spending about $300-350 per month.

In our house we have lights, computer and tv, refrig and a small heater so take the chill off the room on the few nights it's a bit colder. Our monthly bill will range from $20 to $32 depending upon our usage.

Cable & Wireless Internet 5mg and unlimited house phone with all calls in Panama included is about $50/m

Sky TV varies with the package chosen. We have the mid-level and we have about 12 or so channels that are in English. There is no way with Sky or other TV provides to get U.S. TV unless you do it online, one option being "ustvnow.com".

Cell phones are very inexpensive. We just purchased a "VeryKool" android phone for $80 and purchase "air time" for $25 or so but with the Android we downloaded "WhatsApp" and we can text and voice chat for free so it does not use up our minutes. Another option is to download "Viber" and you can make calls without cost or using minutes.

There are many "fondas" that offer three or four Panamanian selections for meals....entree, rice and small salad or plantain and it will run you $3.50-$4 per plate. Some places offer soup, entree, rice and add'l side for $4 to $4.50 and one of the best is Burricos Mexican Grill.

Regular places to eat are many and you will find that a main course will run about $7-$10 depending. You can find places for more if you wish.

Coffee is $1 or less. Not sure about drinks as we don't.

We find life here WONDERFUL. It is all about adapting to the culture. We see so many "gringos" who are unhappy and say how awful Panama is and that nothing is right. I do not understand why they just don't pack up and move out or go back to the States. If they are unhappy they are skewing the scales the wrong way. One has to adapt to the culture in which we live. We are guests in this country and if one is not happy then there is no reason to stay just to denegrade the people and/or culture.

Life is what you make it. Life here, near the Costa Rican border is rich with wonderful people and great stores and good food. The public health is good "up" here and the local doctors are good people with an adequate knowledge for most things. If it is serious then please do your homework and weight the pros and cons of having it done here or outside of Panama.

There are honest and dependable attorneys in Panama. We can recommend at least three.

Anyhow, it is all what you make it.

Write me if you have any concerns and/or questions.

Well, that was a different perspective. Not " in country " yet, but will be interested in feedback from other expats.Thank you all.

In response to username609 post Thank you for your post. Certainly a different perspective from others. Not " in country " yet, so am interested in responses from other expats on this blog. Thank you to everyone who take time to help those of us that are considering the leap to Panama!

@PacificaMaryAnn
(Moderated: no judgment here please)
in panama you go to markets and buy fresh produce
not labeled garbage from a supermarket

Purplebox:  Be sure to check out the Public Market in Casco Viejo.  Farmers bring their produce to the open market to sell each day.  The veggies are not beautiful but they are cheap.  Most farmers only have 1 or 2 varieties that they grow and bring to the market.  You will find many of the root vegetables that you are looking for.  Also, the Fish Market is next door and you can get fish that was just caught in the morning.  The fish is super cheap.  If you can hold your nose and walk into a real grocery store, where many Panamanians like to shop, you can also buy farmers' produce.  The veggies will be the rather "ugly" potatoes, carrots, lettuce, or onions, but they will taste the same as the perfect looking produce.  These are price controlled items. 

Check out Supermarket Shopping Tips #1, #2, #3, #4, and #5 on the Panama For Real Site.  See where Panamanians really shop for food.  Most of us living in Panama shop in a variety of stores and markets, or buy  from vendors.

www.panamaforreal.com

@PacificaMaryAnn
people migrate for the better
and in rome you do what the romans do
locals have lots of produce to chose from

walmart has maybe one bagel with 56 artificial flavors
among other modified crap they stock to impress dumb buyers

the "ugly" potatoes might have not been drowned in "monsanto" pesticides
like the mcdonald potatoes from idaho

consider this one of many articles when eating at mcdonald again

McDonald's french fries are suspected of killing farm animals and poisoning wildlife and Minnesotans, including students and farmers. No, it's not the high cholesterol or deep frying that's in question – or the crappy ingredients (i.e., genetically modified oils, sugar, and anti-foaming agents). It's the pesticide drift that's applied every five to seven days on commercial potato fields that's plaguing the state.

McDonald's buys more than 3.4 billion pounds of U.S.-grown potatoes every year. They are the single largest consumer of potatoes in Central Minnesota and the northwestern region. Potato fields cover the landscape, stretching for 45,000 acres in every direction. Thanks to pesticide drift, residents living near potato fields have developed serious chronic health problems, and some small farms have lost livestock.

Research published in the journal Environmental Health Perspectives reports that skin, lung, and intestinal irritations are linked to some incidences of pesticide drift, with the most acute reactions among children. - there is more to read

you might want to watch this: <www.youtube.com/watch?v=rbZBJT358_Y>

Hi everbody,

We are getting off topic here.
Let's come back to the initial topic which is the Cost of living in Panama.

Thanks

Priscilla 

cost of living in any country is living like locals

purplebox wrote:

cost of living in any country is living like locals

That may not be the same for expats.

Please get back on topic with some prices / costs.

Hi Folks,
We have been in Panama for six months.  We live just outside of Boquete in a nice neighborhood with a mix of indigenous, Panamanians and expats.  We rent a house that is a mix of Panama style with a little larger room sizes that we like.  It is on a larger lot with bananas, oranges, grapefruit and papaya trees.  We have two bedrooms, two baths, a large living room / dining room combo, a nice large kitchen and great covered patio area.  We could be less expensive but this was the comfort we wanted without much compromise.  We are a couple of blocks to a small plaza with a store, a couple of restaurants, a bakery and a bank.  The mall is on the Highway between David and Boquete, so public transportation is quickly available.  We decided we are going to try life without a car and it's expense for now.
That being said here are our average monthly expenses and a few comments on their meaning.

Rent                  $825  Like I said we could be cheaper but this is nice.
Electricity          $  32
Food                 $350  We have nice mix of local fresh vegetables and fruit and prepared U. S. style meals.
Vices                 $300  This includes beer, liquor, cigarettes.  We are not giving up entertaining, having a few drinks and my wife smokes.
Dinners out      $100
Household       $100  This includes House cleaning once a month, cleaning supplies, Birthday presents etc.
Transportation $  60   
Bank Fee's       $  28  We choose to use our U. S. Credit Union and an A.T.M. here at least for now.
Medical             $  50  We pay out of pocket for medical at this point.  What we have experienced is decent quality care for inexpensive prices.  My prescriptions cost about what my co-pay was in the U. S.

TOTAL       $1845    We could live cheaper but this gives us everything we need and some of what we want with money left over for savings.
Hope this helps you as you.  I know information like this helped me over the last few years as we made our choices.
Rick and Sally

Rick and Sally wrote:

TOTAL       $1845    We could live cheaper but this gives us everything we need and some of what we want with money left over for savings.

The detail you provide should make this helpful to folks trying to determine their budget.  Seems that living your lifestyle and providing a contingency for emergencies, irregular trips and travel outside Panama and a small cushion for future inflation rounds up to $2,000 a month.

here some official numbers about Panama:
Cost of Living in Panama
<www.numbeo.com/cost-of-living/country_result.jsp?country=Panama>
Cost of Living in Panama City
<www.numbeo.com/cost-of-living/city_result.jsp?country=Panama&city=Panama+City>
you will find many other areas as well as data about
property prices crime pollution traffic health

I wouldn't rely on those prices - For David it has gas at $1.20/l. Last month I paid $0.64/l. in David. And so forth. Different cities within Panama show wildly differing costs.

this site is an indicator and you can select different areas
imagine what it takes to run such a website
with constantly changing prices worldwide

The website numbeo.com relies on people posting information, facts and figures on it.

Hi Rick & Sally,
Great info. Thank you. We will be in Bouquet area May 1st. Hopefully we can meet you.
Cheers,
John & Susan

you can find more accurate daily weekly monthly and yearly prices of many different products on this panamanian governmental site:
http://www.ima.gob.pa/sipanpagedetail.a … e=Repo1397

Glad you liked it.  Will be happy to meet you when you get here.  If you need other help get back to us.
Rick

hi all,
i pay 300$ for a three bedroom- one bathroom house in Panama city but the east quite closed to the airport (pacora 24 de diciembre)...with garage spot which is in the front yard. the area is safe and quite family style.
from where i live there are a lot of ways to get to the city centre; you can pay a metrobus which is 25cents, or a minivan transport 1$, or a local bus 50 cents depending on your budge you can choose.
In food, i spend 60$ weekly for my husband my son and myself... eating nicely. the cheapest supermarket in this area in el xtra you can go, shop and then pay a 3$ taxi to get home with all the bags. Sometimes there are certain products that i like to buy in big quantities so i go to the city centre to buy in pricesmart. you can get a huge bag of cereal or 12 cans of tuna in a better price than the supermarket.
in the health aspect, you can access the public hospital which is pretty near and you pay 2$ for a medical apointment. it's very cheap. there are smaller hospital centers in each community, there's one near my house and you pay just 2$ as well. maybe you have to wait a bit but it's ok for that price.. there are thousands of private clinics as well near my house but you need to pay 7$.
in education, in the city centre i used to pay 180$ for a nursery school in Betania lunch included from 7 am to 5pm.. near my house there are three small private schools and you pay 60$ only. education in panama is mostly paid.. even college.
i pay 30$ for the electrical power and 5$ for thw water service. monthly only one fan, one tv, a dvd player, and an inverter ac.
i have a digicel service in my phone, just one dollar for the chip and 19$ for the monthly data 3gb.

One more for the list-

Eye exam by an optician and 2 pairs of quality glasses w/cases $110 in Punta Pacifica, Panama City.  The glasses were ready in 5 days.

Actually if you get SKYPE or FACETIME you don't need a USSA based address or carrier. Chk them out 1st b4 making ur decision. 

train your vision and live without glasses

Nueva era (New Age) naturopathy and the ancient Indian medical-metaphysical healing of Ayurveda may not work for everyone. 

Optician costs in Panama City are reasonable.

sunglasses and many other useless trendy gadgets are included

Wow, is what "username609" said really true? This is the very first negative review I've seen of Panama from any website. Or from anyone I've spoken to in person. I don't want any surprises when I come to visit, hopefully later this year.

Lindsey G. wrote:

Wow, is what "username609" said really true? This is the very first negative review I've seen of Panama from any website. Or from anyone I've spoken to in person. I don't want any surprises when I come to visit, hopefully later this year.

Really?  I don't know what you've heard, but you might want to ignore all of it and view Panama for yourself with no preconceived opinions or views.  There's plenty to like and plenty to hate.  This does not make it unsuitable for everyone but it is unsuitable for many.  You need to figure out what your tolerance is for these conditions.

Lindsey G. wrote:

I don't want any surprises when I come to visit.

Really? Then why visit or travel? There are surprises everywhere!

So true sunsetsteve. We experienced surprise after surprise almost every day. But that's the best part of travelling. Well worth every penny! !