Cost of Living in Panama
Panama offers a very comfortable retirement solution, in part because the nation is much more developed than most visitors expect. Many are shocked by the modernity of Panama and the clusters of skyscrapers that define Panama City’s skyline. All of the amenities one could wish for are readily available.
By moving to Panama, you will enjoy the benefits of a developing economy where you can still take a taxi across town for a buck or two, get your haircut for a couple of dollars, or enjoy dinner for two with a bottle of wine at one of the finest restaurants in Panama City for a mere $30.
No matter what your taste or budget, you’ll find that Panama offers plenty of quality options.
Here’s a sample monthly budget for two people:
Rental or mortgage on two-bedroom apartment in central Panama City): $700 to $1,500
Utilities with moderate air conditioning use (electricity, gas, water): $250
Supermarket items (food and household): $300
Maintenance and fuel for one small car: $200
Entertainment for two (movies twice a month and dinner four times a month): $150
Communication (phone, Internet, Cable TV): $100
Monthly total for a First-World lifestyle in the big city: approx. $1,700 to $2,500.
*Prices as of 2013
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