Cost of Living in Panama City

Summary about cost of living in Panama City, Panama:

Restaurants
Edit Range
Meal, Inexpensive Restaurant 8.39 € 5.04-16.79
Meal for 2 People, Mid-range Restaurant, Three-course 41.97 € 29.38-67.15
McMeal at McDonalds (or Equivalent Combo Meal) 5.88 € 5.46-6.72
Domestic Beer (1 pint draught) 2.10 € 1.26-4.20
Imported Beer (12 oz small bottle) 3.36 € 2.52-4.20
Cappuccino (regular) 2.60 € 1.68-3.78
Coke/Pepsi (12 oz small bottle) 1.21 € 0.84-1.68
Water (12 oz small bottle) 0.97 € 0.84-1.68
Markets
Edit
Milk (regular), (1 gallon) 4.81 € 4.29-5.37
Loaf of Fresh White Bread (1 lb) 1.39 € 0.69-2.25
Rice (white), (1 lb) 0.85 € 0.48-1.52
Eggs (regular) (12) 1.80 € 1.34-3.01
Local Cheese (1 lb) 3.86 € 1.52-7.61
Chicken Fillets (1 lb) 2.97 € 1.22-3.81
Beef Round (1 lb) (or Equivalent Back Leg Red Meat) 4.20 € 2.11-8.39
Apples (1 lb) 1.38 € 0.55-2.09
Banana (1 lb) 0.64 € 0.37-1.52
Oranges (1 lb) 0.96 € 0.38-1.52
Tomato (1 lb) 1.08 € 0.53-1.60
Potato (1 lb) 0.87 € 0.57-1.14
Onion (1 lb) 0.86 € 0.66-1.33
Lettuce (1 head) 1.72 € 0.83-2.52
Water (1.5 liter bottle) 1.24 € 0.84-1.68
Bottle of Wine (Mid-Range) 8.39 € 5.04-12.59
Domestic Beer (0.5 liter bottle) 0.85 € 0.55-1.68
Imported Beer (12 oz small bottle) 1.59 € 1.04-2.52
Cigarettes 20 Pack (Marlboro) 5.04 € 4.20-6.72
Transportation
Edit
One-way Ticket (Local Transport) 0.29 € 0.21-0.55
Monthly Pass (Regular Price) 18.89 € 12.59-37.77
Taxi Start (Normal Tariff) 2.10 € 1.68-3.36
Taxi 1 mile (Normal Tariff) 2.70 € 2.36-4.05
Taxi 1hour Waiting (Normal Tariff) 14.69 € 8.39-16.79
Gasoline (1 gallon) 2.41 € 1.97-2.83
Volkswagen Golf 1.4 90 KW Trendline (Or Equivalent New Car) 16,787.82 € 15,109.04-20,145.38
Toyota Corolla Sedan 1.6l 97kW Comfort (Or Equivalent New Car) 17,521.59 € 15,948.43-20,984.78
Utilities (Monthly)
Edit
Basic (Electricity, Heating, Cooling, Water, Garbage) for 915 sq ft Apartment 85.91 € 53.51-125.91
1 min. of Prepaid Mobile Tariff Local (No Discounts or Plans) 0.12 € 0.05-0.17
Internet (60 Mbps or More, Unlimited Data, Cable/ADSL) 37.97 € 29.38-54.56
Sports And Leisure
Edit
Fitness Club, Monthly Fee for 1 Adult 41.45 € 20.98-54.56
Tennis Court Rent (1 Hour on Weekend) 23.38 € 16.79-25.18
Cinema, International Release, 1 Seat 5.46 € 4.20-11.75
Childcare
Edit
Preschool (or Kindergarten), Full Day, Private, Monthly for 1 Child 295.59 € 125.91-419.70
International Primary School, Yearly for 1 Child 9,931.16 € 2,308.33-15,109.04
Clothing And Shoes
Edit
1 Pair of Jeans (Levis 501 Or Similar) 42.64 € 20.98-62.95
1 Summer Dress in a Chain Store (Zara, H&M, ...) 31.38 € 16.79-50.36
1 Pair of Nike Running Shoes (Mid-Range) 62.76 € 33.58-83.94
1 Pair of Men Leather Business Shoes 79.74 € 33.58-125.91
Rent Per Month
Edit
Apartment (1 bedroom) in City Centre 717.30 € 545.60-1,007.27
Apartment (1 bedroom) Outside of Centre 461.67 € 335.76-755.45
Apartment (3 bedrooms) in City Centre 1,354.33 € 1,007.27-1,846.66
Apartment (3 bedrooms) Outside of Centre 879.45 € 671.51-1,259.09
Buy Apartment Price
Edit
Price per Square Feet to Buy Apartment in City Centre 169.76 € 140.37-210.55
Price per Square Feet to Buy Apartment Outside of Centre 113.29 € 77.98-177.41
Salaries And Financing
Edit
Average Monthly Net Salary (After Tax) 675.53 €
Mortgage Interest Rate in Percentages (%), Yearly, for 20 Years Fixed-Rate 5.47 5.00-6.50

Prices in Panama City

This city had 1237 entries in the past 12 months by 91 different contributors.
Last update: June 2021
Sources and References
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9 Comments so far
Arthro on May 21, 2021:
Came to Panama in 2004 tickets were $245USD 2021 may tickets $995.USD
Anonymous on Dec 19, 2020:
Panama will always be expensive besides I don't care if Panama has 100% non occupancy rates.
AL SMART on Aug 07, 2019:
Everything is still insanely OVERPRICED in Panama City right now! Most hotels in Panama City have less than 50% occupancy rates and there are thousands of vacant apartments lying unsold in downtown Panama City right now. It is inevitable that real estate prices in Panama City will PLUNGE within the next couple of years. There are a couple of dubious online publications trying to trick Americans and Canadians by touting Panama as a wonderful place to buy property and retire overseas. If you follow their advice you will LOSE a lot of your money very soon!
Ramiro on Aug 06, 2019:
Cities to live near Panama, preferably if you dont need to work in the city, just if occasionally needs to go to the city are Costa Verde Chorrera great development in harmony with nature and great prices close to market plazas, schools and beachs 30 minutes approx. Altos del Maria (Mountains community 1’30 from city 20 from “Coronado small size city”). Panama Pacifico 20 min from city but little more expensive. This areas are safe and affordable, additional Panamanians by tradition are very welcoming and friendly to foreigners specially from Europe, Asia and North America.
Veronika on Aug 06, 2019:
Panama prices have increased, but still overall cheaper for retired couples, in Panama you can find a rich variety of destinations, El Valle, altos del Maria, playa Venao, San Blas, Isla Iguana, Coiba etc. Leaving in the country side allows you to get fresh organic vegetables from different communities for very cheap prices just buy the products from the locals and not from branded supermarkets, found additionally communities like Altos del Maria where there is a lot of retired couples from Europe and US were some grow their own vegetables and trade with one and others and only 20 minutes from Coronado where if you prefer can get all the branded groceries and items etc
Christine on Apr 20, 2019:
What are some cities 30 to 45 min from Panama city and what is the cost of living in those areas?
Anonymous on Feb 25, 2019:
Panama isn't some magical place as many may think.Its just another over blown tourist trap like Colombia is, nothing more.The 50% off for many things for retired people is just another falsehood the Panama government puts out there to draw people in nothing more.We've lived in Panama for almost 13 years now and never got discounts on anything and we're in our late 70'S.We'll leave Panama for greener pastures next month.
AL SMART on Oct 28, 2018:
Everything is insanely OVERPRICED in Panama City right now! Most hotels in Panama City have less than 50% occupancy rates and there are thousands of vacant apartments lying unsold in downtown Panama City right now. It is inevitable that real estate prices in Panama City will PLUNGE within the next couple of years. There are a couple of dubious online publications trying to trick Americans and Canadians by touting Panama as a wonderful place to buy property and retire overseas. If you follow their advice you will LOSE a lot of your money very soon!
Francesco on Jan 02, 2018:
to all europeans, Panama is not worth unless you are paid a lot of money especially with kids.
consider this; 2 adults and two kids trip to europe once a year will cost you at least 3000$ just to go back to europe.
if you have 3000$ budget for a vacation in Europe, you can go to Greece, Croatia, Italy and find beautiful beaches, art, great food and you will spend almost nothing on transport with ryanair or easy jet.
but from Panama if you want to go to San Blas or Bocas del Toro prepare to spend more and eat "arroz con pollo" and no trash collections anywhere.
Panama is a great place but not suited for long term european family.
also food is more expensive than Europe and less choice due to lack of competition and economy of scale.
consider also social security you are not paying in panama so no pension for you....
private schools (public school are no good) are 600/1000 per kid and in Europe are free and very good almost everywhere.

so to be better in Panama you should make at list 4x what are you making in Europe if not forget it