Panama – Budget

Panama – Budget

The City Beaches Area

You can drive out from Panama City after work on Friday, enjoy a weekend at the beach, then return to the city Sunday evening in time for the work week, and that’s precisely what every Panamanian living in Panama City who can afford it does.

To Panama City residents, the City Beaches are close enough for quick weekend trips but far enough away to forget the stress and commotion of the city. To residents of the City Beaches, the capital offers a level of nightlife, a variety of dining options, and cultural events not available at the beaches.

Cost Of Living In The City Beaches Area

The cost of living is higher than many destinations in Panama due mostly to the location and accessibility of Panama City. A couple can live and retire well on US$2,440 per month here.

Monthly Budget For A Couple Living In The Panama City Beaches Area

Click here for currency conversion at today’s exchange rate.

Rent US$1,200
Gas US$20 Used for cooking.
Electricity US$175
Water N/A Included with electricity.
Telephone N/A Included with cable TV.
Internet N/A Included with cable TV.
Cable TV US$95
Groceries US$475
Entertainment US$475
Total US$2,440

 

Infrastructure In The City Beaches Area

While the spots on this coast developed two or three or more decades ago can sometimes be described as “basic” when it comes to amenities and infrastructure, the newer developments are increasingly high-end. JW Marriott, for example, recently put its name to what is without a doubt the nicest resort property not only in this part of Panama but anywhere in the country. In other words, the City Beaches are coming of age, and, as they mature, the options they include are of a markedly higher standard.

Nowhere else in Panama would the living be as easy or as convenient. You’re an hour-and-a-half (give or take) from Panama City, meaning you can return to the big city for supplies, shopping, and nightlife whenever you want. However, you can also find almost everything and anything you might need or want locally now, as well. The shopping and dining options, specifically in Coronado, are expanding all the time.

Climate In City Beaches Area

The City Beaches are hot and humid. But residents also enjoy the convenience of the cool, rejuvenating air of Panama’s highlands nearby. For example, lovely El Valle (another former weekend getaway turned full-time community) is only 30 minutes away, making spontaneous day trips possible whenever the need for a break from the heat of the beaches arises.

El Cangrejo, Panama City

El Cangrejo is a top choice for a comfortable, affordable, downtown Panama City experience. The neighborhood boasts a nice mix of single-family homes and apartment buildings. Many of the single-family homes are now businesses, but a few remain inhabited by wealthy Panamanian families.

Cost Of Living In El Cangrejo

The cost of living in El Cangrejo is high due to the location in the city center. A couple can live well on US$2,115 per month.

Monthly Budget For A Couple Living In Panama City (El Cangrejo), Panama

Click here for currency conversion at today’s exchange rate.

Rent US$1,100
Gas N/A Included with rent.
Electricity US$50 US$100 with air conditioning.
Water N/A Included with electricity.
Telephone US$65
Internet N/A Included with telephone.
Cable TV N/A Included with telephone.
Groceries US$450
Entertainment US$450
Total US$2,115

Infrastructure In El Cangrejo

In 2014, out of 16 stations constructed as part of Panama City’s (and Central America’s) first-ever light rail system, El Cangrejo has not one, but two, of its very own metro stops. Metro trains pick passengers up from two sparkling new stations—the first near the intersection of Via Espana and Via Brazil and the second a few blocks down Via Espana near Iglesia del Carmen.

Future metro lines will also intersect in El Cangrejo. Think of El Cangrejo as a sort of Grand Central Station. Historically, in cities around the world, the neighborhoods that are selected for significant infrastructure projects—a metro stop, for example—consequently experience robust real estate investment and development.

Climate In El Cangrejo

The weather in El Cangrejo is the same as anywhere else in the city—humid and wet in the rainy season (April to December), and mainly dry, hot, and less humid in the dry months.

Expats In El Cangrejo

For hundreds of expats living in El Cangrejo, the neighborhood ticks a lot of key boxes. El Cangrejo is the expat hub of Panama City. There are a lot of tourists living for the short-term in El Cangrejo.

El Valle

Nestled within the majestic confines of an extinct volcanic crater and overlooked by the Sleeping Indian mountain range and cloud-capped mountains, about 90 minutes from Panama City lies the bustling market town of El Valle de Anton. As you climb the hill from the Pan-American Highway, you pass through a number of landscape changes where the subtle hues and colors of nature transform as you pass through small, neat settlements and villages with sellers of artisan flower pots, garden furniture, or flourishing plant nurseries.

The community has grown over thousands of years from a small gathering of local villages centered on the local market. Many of Panama’s oldest families own second homes in the cool and healthy mountain air of the valley, weekending regularly to disengage and relax within easy reach of the city.

Cost Of Living In El Valle

The cost of living in El Valle is considerably less compared to Panama City. A couple can enjoy the hillside lifestyle for less than US$1,529 per month.

Monthly Budget For A Couple Living In El Valle, Panama

Click here for currency conversion at today’s exchange rate.

Rent US$575
Gas US$7 Used for cooking.
Electricity US$77
Water US$12
Telephone US$48
Internet N/A Included with telephone.
Cable TV US$35
Groceries US$450
Entertainment US$325
Total US$1,529

Infrastructure In El Valle

A growing number of shops and services have been built, including a new commercial center and El Rey supermarket; however, the real focus of El Valle’s community is on its market. The market is a focal point in the town for its unbeatable quality produce—much of it organic—at unheard of prices.

Every day, local farmers arrive before sunrise with their chosen fruits and vegetables, creating the unusual situation in Panama of a traditional farmers market available to residents every day.

El Valle town and surrounding area consists of a thriving community of around 6,000 people, located around 75 miles from Panama City. The town lies about 15 miles up the mountainside from the Pan-American Highway, a picturesque drive through small villages and changing countryside.

Climate In El Valle

El Valle is known for its flora, for its climate (which, thanks to the slight elevation, is noticeably more comfortable than that back down at sea level in Panama City), and for its hot springs.

El Valle has spring-like temperatures year-round. The year-round average high is 68 degrees Fahrenheit, and the average nighttime minimum is 61. There is little variation between summer and winter temperatures, the major difference being the amount of wind and rain from season to season. The dry season runs from mid-December to mid-April and the wet season from May to early December.

Pedasi

In a golden corner of Panama’s Azuero Peninsula sits the town of Pedasi. It’s a town with a village atmosphere—large enough to feel like you can live there, yet small enough to make you feel like an active stakeholder in a thriving community. The Azuero Peninsula constitutes Panama’s southernmost landmass. Jutting into the Pacific, Azuero is an excellent staging post for forays into the ocean and is home to some of Panama’s finest coastline, with idyllic islands lying offshore surrounded by a deep blue and turquoise ocean abundant with rare mammals and marine life.

Idyllic beaches of golden sand and fascinating rocky outcrops hold rock pools full of tropical life. Dense maritime jungles provide a home to a wealth of flora and fauna. Fresh, life-giving water cascades from the mountains in spectacular waterfalls. Gold bearing rivers meander from the foothills down to the golden shore.

Cost Of Living In Pedasi

This is a wholesome, genuine, and authentic place. It’s the kind of place you might doubt still exists anywhere in the world and an ideal place to embrace a quiet, simple beach lifestyle in retirement, even on a modest budget. Pedasi is an affordable destination in Panama, and on a budget under US$1,241 per month, you can live well.

Monthly Budget For A Couple Living In Pedasi, Panama

Click here for currency conversion at today’s exchange rate.

Rent US$475
Gas US$5 Used for cooking.
Electricity US$45
Water US$7
Telephone US$49
Internet N/A Included with telephone.
Cable TV N/A Included with telephone.
Groceries US$410
Entertainment US$250
Total US$1,241

Infrastructure In Pedasi

Good roads connect the Pan-American Highway to the principal towns of the gulf coast (Chitre, Las Tablas, and Pedasi), and the infrastructure around Pedasi has improved remarkably in recent years.

Recent improvements to the Pan-American Highway mean the journey to Pedasi by car can be done in a little more than four hours from Panama City. A comfortable and surprisingly efficient alternative is to take a bus from the terminal in Panama City to Chitre or Las Tablas and then on to Pedasi. If you have a group of about six people, it can be cost effective to charter a plane privately or through Air Panama, the principal domestic carrier at Albrook airport.

The area around Pedasi has been opening up as communication links improve. There is now a regular flight from Panama City’s domestic Albrook airport on Wednesdays, Fridays, and Sundays.

Climate In Pedasi

The gulf coast of Azuero offers some of Panama’s best weather conditions and is known as the Dry Arc, or Arco Seco. A breeze lowers the humidity of this region and allows a welcome respite from the normal heat and humidity.

Boquete

Boquete is not a town but a district, the functional equivalent of a county. As you cross into Boquete you will find yourself on a sustained gentle grade up into the green mountains of western Panama and the eastern flanks of Volcán Barú, the highest point in Panama at 3,475 meters (11,400 feet).

Boquete District is divided into six sub-districts or townships (corregimientos): Bajo Boquete (the district capital), Caldera, Palmira, Alto Boquete, Jaramillo, and Los Naranjos. It is in the western most region of Panama bordering Costa Rica.

Cost Of Living In Boquete

In Boquete, you’d be living abroad and enjoying many of the benefits (great weather, affordable cost of living, and tax savings), but the surroundings and the neighbors would feel familiar in many ways.

Every day consumables are slightly cheaper here than in the United States, and, surprisingly, that includes the cost of American imports. The quality of local, fresh produce is significantly better than that available in most of the United States.

Retirees usually come for the low cost of living and change of lifestyle. For what you get in terms of quality of life, amenities, and comforts, Boquete offers good value. A couple can live well on less than US$1,092 per month.

Monthly Budget For A Couple Living In Pedasi, Panama

Click here for currency conversion at today’s exchange rate.

Rent US$475
Gas US$5 Used for cooking.
Electricity US$45
Water US$7
Telephone US$49
Internet N/A Included with telephone.
Cable TV N/A Included with telephone.
Groceries US$410
Entertainment US$250
Total US$1,241

Infrastructure In Boquete

The government of Panama invested over US$110 million dollars widening and improving the highway from David to Boquete in anticipation of the impending growth in this region. They, and many private sector companies, are betting this region will grow further in the near future. There are many reasons for this optimism.

Another infrastructure project expected to benefit Boquete is a four-phase program to upgrade the international airport in David. The project is complete, and the newly expanded, US$27 million runway and sleek, new terminal look great.

Climate In Boquete

It’s rainier and windier in this part of the country than down on the coasts, and temperatures are often cool enough to warrant the fireplaces that have been built into many Boquete homes. It’s fresh and invigorating.

For many years, Boquete has been a cool-weather retreat for the elite of Panama, families with a home in Panama City, a home on the beach, and still another here in Boquete.

Las Tablas

Three hours west along the Pan-American Highway and then 90 minutes southeast along Panama’s Azuero Peninsula is the sleepy town of Las Tablas. Las Tablas is one of the best places in Panama to live a stress-free, relaxed retirement—one of the main reasons people move to Panama.

Cost Of Living In Las Tablas

This is a town where no one is in a rush. Everyone seems to be at ease, and the moment you enter town, you fall right in line. If you try to force a quickened pace, you’ll just find yourself frustrated. This makes Las Tablas one of the best places in Panama to live out a stress-free, relaxed retirement. The cost of living in Las Tablas is one of the lowest in the country. In Las Tablas, a couple could retire on as little as US$605 per month.

Monthly Budget For A Couple Living In Las Tablas, Panama

Click here for currency conversion at today’s exchange rate.

Rent US$250
Gas US$5 Used for cooking.
Electricity US$50
Water N/A Included with electricity.
Telephone US$50
Internet N/A Included with telephone.
Cable TV N/A Included with telephone.
Groceries US$200
Entertainment US$50
Total US$605

Infrastructure In Las Tablas

The highway that delivers you into town is marked on both sides by fertile farmland, where cows graze in open fields. Colorful hammocks are for sale on most corners, and all other corners have been taken over by similar vendors, just waiting for tourists. Schools, museums, and city governments all over this country look to Las Tablas whenever they have a major parade or festival coming up.

Climate In Las Tablas

The average rainfall in Las Tablas during the rainy season hovers right around 250 to 300 millimeters (9 to 11 inches). In the dry season, you might only see rain a couple of days per month. The warmest days in Las Tablas seem to be in March and April, when the average high is 95 degrees Fahrenheit. The lowest temperature in the area is 70 degrees.

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Panama – Budget

The City Beaches Area

You can drive out from Panama City after work on Friday, enjoy a weekend at the beach, then return to the city Sunday evening in time for the work week, and that’s precisely what every Panamanian living in Panama City who can afford it does.

To Panama City residents, the City Beaches are close enough for quick weekend trips but far enough away to forget the stress and commotion of the city. To residents of the City Beaches, the capital offers a level of nightlife, a variety of dining options, and cultural events not available at the beaches.

Cost Of Living In The City Beaches Area

The cost of living is higher than many destinations in Panama due mostly to the location and accessibility of Panama City. A couple can live and retire well on US$2,440 per month here.

Monthly Budget For A Couple Living In The Panama City Beaches Area

Click here for currency conversion at today’s exchange rate.

Rent US$1,200
Gas US$20 Used for cooking.
Electricity US$175
Water N/A Included with electricity.
Telephone N/A Included with cable TV.
Internet N/A Included with cable TV.
Cable TV US$95
Groceries US$475
Entertainment US$475
Total US$2,440

 

Infrastructure In The City Beaches Area

While the spots on this coast developed two or three or more decades ago can sometimes be described as “basic” when it comes to amenities and infrastructure, the newer developments are increasingly high-end. JW Marriott, for example, recently put its name to what is without a doubt the nicest resort property not only in this part of Panama but anywhere in the country. In other words, the City Beaches are coming of age, and, as they mature, the options they include are of a markedly higher standard.

Nowhere else in Panama would the living be as easy or as convenient. You’re an hour-and-a-half (give or take) from Panama City, meaning you can return to the big city for supplies, shopping, and nightlife whenever you want. However, you can also find almost everything and anything you might need or want locally now, as well. The shopping and dining options, specifically in Coronado, are expanding all the time.

Climate In City Beaches Area

The City Beaches are hot and humid. But residents also enjoy the convenience of the cool, rejuvenating air of Panama’s highlands nearby. For example, lovely El Valle (another former weekend getaway turned full-time community) is only 30 minutes away, making spontaneous day trips possible whenever the need for a break from the heat of the beaches arises.