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Cost of Living in Panama City, Panama

Prices in Panama City

Compare Panama City with:
IndexInfo
Consumer Price Index (Excl.Rent): 58.91
Rent Index: 37.99
Groceries Index: 63.95
Restaurants Index: 54.99
Consumer Price Plus Rent Index: 48.79
Local Purchasing Power: 40.56

Currency: Default Currency      Switch to imperial measurement units
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Restaurants [Edit] Avg.
Range
Meal, Inexpensive Restaurant 7.00 $
4.00
8.00
Meal for 2, Mid-range Restaurant, Three-course 45.00 $
35.00
60.00
Combo Meal at McDonalds or Similar 6.00 $
5.00
6.00
Domestic Beer (0.5 liter draught) 2.00 $
2.00
3.00
Imported Beer (0.33 liter bottle) 3.25 $
3.00
4.00
Cappuccino (regular) 2.13 $
1.50
3.00
Coke/Pepsi (0.33 liter bottle) 1.25 $
1.00
1.50
Water (0.33 liter bottle) 1.18 $
1.00
1.50
Markets [Edit] Avg.
Milk (regular), (1 liter) 1.36 $
1.22
1.50
Loaf of Fresh White Bread (500g) 1.51 $
1.30
1.80
Rice (white), (1kg) 2.57 $
1.50
3.50
Eggs (12) 2.27 $
1.99
2.50
Local Cheese (1kg) 7.74 $
6.00
9.92
Chicken Breasts (Boneless, Skinless), (1kg) 7.18 $
6.00
7.72
Apples (1kg) 2.73 $
2.25
3.25
Oranges (1kg) 1.25 $
1.00
1.50
Tomato (1kg) 2.98 $
2.19
3.49
Potato (1kg) 1.61 $
1.00
2.00
Lettuce (1 head) 1.32 $
1.00
1.75
Water (1.5 liter bottle) 1.33 $
1.00
2.00
Bottle of Wine (Mid-Range) 8.00 $
5.00
10.00
Domestic Beer (0.5 liter bottle) 0.78 $
0.70
0.90
Imported Beer (0.33 liter bottle) 1.22 $
0.80
1.50
Pack of Cigarettes (Marlboro) 4.50 $
4.26
4.75
Transportation [Edit] Avg.
One-way Ticket (Local Transport) 0.25 $
0.25
0.80
Monthly Pass (Regular Price) 15.00 $
10.00
30.00
Taxi Start (Normal Tariff) 1.25 $
1.00
2.00
Taxi 1km (Normal Tariff) 1.00 $
0.70
1.25
Taxi 1hour Waiting (Normal Tariff) 20.00 $
10.00
30.00
Gasoline (1 liter) 1.09 $
1.05
1.12
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 19,000.00 $
13,000.00
20,000.00
Utilities (Monthly) [Edit] Avg.
Basic (Electricity, Heating, Water, Garbage) for 85m2 Apartment 111.88 $
75.00
163.62
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 0.10 $
0.08
0.12
Internet (6 Mbps, Unlimited Data, Cable/ADSL) 34.40 $
29.99
42.00
Sports And Leisure [Edit] Avg.
Fitness Club, Monthly Fee for 1 Adult 57.50 $
50.00
70.00
Tennis Court Rent (1 Hour on Weekend) 6.00 $
3.00
10.00
Cinema, International Release, 1 Seat 5.00 $
4.00
5.50
Clothing And Shoes [Edit] Avg.
1 Pair of Jeans (Levis 501 Or Similar) 55.00 $
40.00
70.00
1 Summer Dress in a Chain Store (Zara, H&M, ...) 22.00 $
19.00
25.00
1 Pair of Nike Shoes 53.33 $
50.00
60.00
1 Pair of Men Leather Shoes 60.00 $
40.00
80.00
Rent Per Month [Edit] Avg.
Apartment (1 bedroom) in City Centre 1,083.33 $
800.00
1,500.00
Apartment (1 bedroom) Outside of Centre 460.00 $
350.00
500.00
Apartment (3 bedrooms) in City Centre 2,300.00 $
1,600.00
2,500.00
Apartment (3 bedrooms) Outside of Centre 950.00 $
600.00
1,450.00
Buy Apartment Price [Edit] Avg.
Price per Square Meter to Buy Apartment in City Centre 1,900.00 $
1,700.00
2,000.00
Price per Square Meter to Buy Apartment Outside of Centre 1,383.33 $
1,200.00
1,600.00
Salaries And Financing [Edit] Avg.
Average Monthly Disposable Salary (After Tax) 861.86 $
600.00
1,200.00
Mortgage Interest Rate in Percentages (%), Yearly 5.56
5.25
6.00

These data are based on 479 entries in the past 18 months from 65 different contributors.

Last update: March, 2014

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10 Comments so far

#Cesar on Mar 26, 2014 :
Born in the Country of Panama, lived and worked in the USA NYC for 35 years, retired at 62 years in USA, now in Panama on $1750.00 a month and I live super comfortable and have enough to travel on vacation at least 3 times a year to NYC. Panama is safe people are great and happy easy going friendly and up on coming. Prices are great, yes if you want to live like Donald Trump in NY yes you will pay $3K per month in rent, but with $600 to $800 monthly you can afford 1,2 or 3 bedroom in secure space in comparison to someone renting for $5K in rent in NYC and with doorman and amenities.
Of the mayor 20 cities in the country of Panama, only 1 city to avoid in the country of Panama is the city of Colon because of the level of poverty.

According to the CIA World Factbook, as of 2011 Panama had an unemployment rate of 2.7%.[4] A food surplus was registered in August 2008. On the Human Development Index Panama was ranked at number 60 (2008). In recent years, Panama's economy has experienced an economic boom, with growth in real gross domestic product (GDP) averaging over 10.4% from 2006–2008. The Panamanian economy has been among the fastest growing and best managed in Latin America. Latin Business Chronicle has predicted that Panama will be the fastest growing economy in Latin America in the five-year period 2010–14, matching Brazil's 10% rate.[28]
#Terry parish on Sep 21, 2013 :
We love panama and we are planning our retirement in this tropical Paridise
#Joaquin on Jul 22, 2013 :
Hi Im updating the info on how mass transportation is operating right now in Panama City, Currently the city is going under heavy modernization, Current President Ricardo Martinelli decided to hit multiple Projects to Gain acceptance for the working class in Panama City Panama and improve his chaces for winning the 2014 elections but his plan has turned into a Nightmare , the logistics for this huge Project has brought the traffic to a complete halt. the completion of this projects are estimated to end by early 2015 after all the caos this has bright some positive aspects and has made a great improvement on Public transportation by elimination of the so called Diablos Rojos US School Buses turned into Public Transport and operated by Private Sociedades anonimas (S.A.).

This Guys were the drivers and commuters nightmares because of their reckless driving for many years in Panamá City …... this people did not go by the State laws and frequently they had a long list of criminal records that included hit and run , not obeying street lights , stop sings , accidents involving mechanical failure of the buses such as rear axel separating from the chassis , wheel coming off at high speed and hiting pedestrians , private property , smashing into homes and business, killing people crossing street and the list goes on an on luckily this problem has been resolved to a 95% .

Now we have the New system that is going thru a very convulsive change and is struggling every day to operate at is 100% due to the lack of alternate Streets that right now are being rebuilt and at the same time they are building new intersection bridges and widening of lanes and Metro Stations thru out the whole city and making daly commute a Stressful experience for the past 4 years in a Row for everyone living on the City because of the lack of organization and lack of Metrobus units, the current Government is pormising to start the Operation of the New Metro on the first quarter of 2014 and this promises to alleviate all the City Caos for the upcoming 2014.

as for know we will have to wait till next year to see the benefits of all this investment , its promising but it has costed lost of logistical problems in Panama city for the past 4 Years .

There is a lot of expectation and it seem like live in Panama city will return to Normal on the upcoming months
#frsfaza on Jun 25, 2013 :
If you have money, come to Panama. As a citizen, I don't recommend living here. Just coming like a tourist is allright
#sam on Jun 05, 2013 :
I got offer to work in Panama for 6 month extendable, I have one kid
if i wana live in compound building, which include swimming , shopping near, Supermarket , can Anybody inform me the price of 2 bedroom furnished flat
#Uapanama on May 28, 2013 :
Hey guy's this site answered a a good amount of questions when it came to retirement and living in panama. Also it broke down the 'Benefits of the Pensionado Program'. The link is http://uapanama.com/panama-real-estate-services/panama-retirement/ its highlited in Blue. Hope this helps
#Fluegge on Dec 03, 2012 :
I keep reading how cheap it is to live here, but we did & electricity is very expensive...A/C is not something you can do without there. Medical IN Panama city can be good. Dental is a fiasco. My husband researched & found what was considered the best & was elated at the time. $10,000. for comparable $30,000. US. Got the work done only to find out foundation work was not done, so now $50,000. to correct in US. This is just the tip of the iceberg. Very interesting to hear how many have "Lost" their retirement, because of move there.
#Joe Motes on Oct 31, 2012 :
Hello Claudia, what's it like for a Veteran living in Panama, as I'm with the V.A. I'm retired.
#Claudia on Oct 19, 2012 :
Sorry, Robert, but you cannot compare Wichita Falls, TX to Panama City.
#Robert Clark on Jul 31, 2012 :
I don't find it too cheap living in Panama after checking the prices listed. 900.00 plus for a one bedroom apmt. I have a 3 bedroom apmt here in Wichita Falls Texas that's 850.00 all bills paid.

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