1. Panama City
For those keen on bright lights and big city living, Panama City is the place to be.
It offers malls, movie theaters, every kind of cuisine imaginable, parks, festivals, concerts, bars, live music, social clubs, golf, and the oceanfront Cinta Costera where you can walk, run, bike, or skate all the way from the Paitilla neighborhood to Casco Antiguo and back again. Day trips to nearby islands are also an option.
You can take your pick from a range of accommodation choices, from townhomes and villas to penthouses and cozy studios.
Private hospitals in Panama City are modern and have state-of-the-art technology and frontline medications.
Why Live Or Retire Here:
- Big City Convenience
- Variety Of Lifestyles
- Access To World-Class Health Care
2. Boquete
Boquete is one of the most famous retirement havens in the world and home to a thriving and active expat community.
This Chiriquí Province district also offers near-perfect weather, lush green surroundings, and most every convenience you need close at hand.
It’s also incredibly safe, has impressive infrastructure, and is just a 40 minute drive from the airport and other city amenities in David.
Why Live Or Retire Here:
- Thriving Expat Community
- You Can Get By In English
- The Cool-Weather Mountain Town Climate
3. Chitré
Chitré, the capital city of Panama’s Herrera province is perfect if you’re looking for a new home with the comforts of a city but a small-town feel and the with locals opportunity to immerse yourself in Panamanian culture and live like a local.
This is one of Panama’s most affordable areas, with a monthly budget of just $1,500 being enough to cover your costs here.
Chitré is best described as a town with the services of a city. People come from across the region to shop, bank, access health care, and to seek the services of lawyers, real estate agents, and other experts. Chitré also offers some of the best health care outside of Panama City.
Why Live Or Retire Here:
- A Low Cost Of Living
- Excellent Health Care
- Authentic Panama Lifestyle
4. Pedasí
AdobeStock/Marek Poplawski
Pedasí is a charming beach town of about 5,000 people situated in the province of Los Santos, on the south-eastern tip of the Azuero Peninsula.
Considered by many as the heartland of Panama, Azuero is home to more traditional Panamanian culture and folklore than any other area. Its economic mainstays are still cattle ranching, farming, and fishing.
Pedasí’s carefree, tranquil life seems to be what most people love about living here. Plus, there are at least a dozen beaches in close proximity to the town, the best-known of which is Playa Venao.
Pedasí is a calm and safe town. No place is immune to crime but it’s unlikely to impact your life here.
Why Live Or Retire Here:
- Laidback Living
- Safe And Tranquill Surroundings
- Your Choice Of Beautiful Beaches
5. Bocas del Toro
One of the most pristine areas on Panama’s Caribbean coast, Bocas del Toro is blessed with dense rain forests, clear and clean turquoise waters, and white-sand beaches.
English is widely spoken in Bocas del Toro (along with some Creole). It’s a popular destination for tourists and there’s a large expat community.
Beach activities are front and center in Bocas… surfing, fishing, sailing, scuba diving, beach volleyball, and swimming are popular pastimes here. Come nightfall, Bocas’ restaurants, bars, and clubs buzz with activity.
Bocas is a pedestrian friendly destination. Most people choose to use bicycles as a means of transportation. Others simply get around on foot.
Why Live Or Retire Here:
- Caribbean Lifestyle
- Big Expat Community
- Lively Nightlife
6. El Valle De Antón
El Valle de Antón, a quaint small town perched in the caldera of an inactive volcano, is one of Panama’s biggest tourist and vacation destinations.
Panama City residents come here to relax and enjoy the cooler weather, expats come here for the quieter lifestyle, and tourists come for the many natural attractions. Because of its elevation (600 meters above sea level), it has a mild and mostly cool climate year-round. This is a great place for hiking and birdwatching.
Getting to know your neighbors in El Valle is easy. Locals and expats are very friendly. Social activity is driven by church groups, volunteer activities, expat happy hours, community fairs, and more.
Why Live Or Retire Here:
- To Make The Most Of The Great Outdoors
- To Join A Welcoming Community
- A Countryside Escape Close To The City
7. Coronado
Coronado was among Panama’s first resort developments and remains a popular choice for expats, tourism, and vacationers.
Almost everything you need for life by the beach is here. You may on occasion need something that can only be obtained in Panama City, though, which is about 90-minutes by car from Coronado.
In Coronado you can rest assured you’ll find like-minded souls, all living out their dream retirement on the beach, ready to mingle and welcome new neighbors.
This isn’t the cheapest spot in Panama for services and health care, but it is competitive. The areas in and around Coronado provide lots of retail, health clinic, veterinarian, restaurant, pharmacy, and professional service options. Health care facilities are of a high standard and you’ll find English-speaking professionals offering quality care.
Why Live Or Retire Here:
- Beachside Living Within Reach Of The City
- A Well-Established And Welcoming Expat Community
- Impressive Health Care Facilities
8. Volcán
Sitting at 1,400 meters above sea level, Volcán has much of the same appeal as nearby Boquete without the tourist or expat numbers.
This is farming country and the lifestyle is low-key. It’s a perfect place for nature lovers. There are two virtually untamed parks: Volcán Barú National Park and La Amistad Park, both with trails through the jungle.
The infrastructure is good: uninterrupted electricity, potable tap water, and internet and cable are all readily available and reasonably priced.
All the necessary suppliers are found in Volcán, like hardware stores, supermarkets, bakeries, banks, boutique hotels, and pharmacies, as well as feed stores, saddleries, and auto- and tire-repair shops. David is just 40 minutes away, so whatever is not available in Volcán can be purchased there.
Why Live Or Retire Here:
- A Paradise For Nature Lovers
- Affordable Mountain Town Living
- Peaceful, Laidback Living
9. Boca Chica
Boca Chica is a small beach town in Chiriquí Province, just 70 miles (115 kilometers) from the Costa Rican border and home to some of the best Pacific beaches in Panama.
It’s densely populated with about 500 residents, a handful of which are expats who live and own businesses here. They live in brightly painted homes in town, along beaches with picturesque views of the lively Pacific, or perched on hillsides on the nearby islands.
In front of Boca Chica is Isla Boca Brava, a protected area and paradise for paddle-boarding, kayaking, or anchoring your boat while you explore the island. In the distance you’ll see sailboats, yachts, and local fishing boats on the sea as well as private docks servicing homes and hotels, the majority of which are owned by expats.
Two free municipal boat ramps in town are the gateway to the Gulf of Chiriquí National Marine Park… a park that includes 25 islands, 19 coral reefs, and protected terrestrial and marine wildlife.
You won’t find a more optimal place to snorkel, scuba dive, or observe exotic animals like howler monkeys, green iguanas, hawksbill and leatherback turtles, dolphins, and humpback whales (which calve here from August to November).
The waters are teeming with blue and black marlin, pacific sailfish, yellowfin tuna, mahi-mahi, wahoo, and rooster fish, and Boca Chica is home to world-class inshore and offshore fishing. The Annual Jigging and Popping Tournament is held here each year.
Most expats are of retirement age and come from all over the world. While many live here full-time, others are snow birds whose second homes here allow them to escape the harsh winters of their home countries. Expats favor the islands in the Playa Hermosa area or Istana, a gated community, which is about a 30-minute drive from Boca Chica.
Crime is essentially non-existent in Boca Chica. Residents leave boats unattended in the harbor for months or years… and no one disturbs them. People in Boca Chica keep an eye out for one another, and home robberies, theft, and vandalism simply don’t occur.
Why Live Or Retire Here:
- A Nature-Rich Life On The Water
- A Small, Close-Knit Community
- As Crime-Free As Can Be
10. Los Islotes
Los Islotes is found near the southern tip of Veraguas Province. It lies on the west coast of the Azuero Peninsula, the large chunk of land that juts out from Panama’s long southern coast into the Pacific Ocean.
Los Islotes is the vision of Live And Invest Overseas Founders Kathleen Peddicord and Lief Simon…
More than a development, it’s a private community for like-minded people who value privacy, security, freedom, independence, and elbow room…
It boasts luscious rolling hills with unspoiled views, incomparable sunsets, private beaches, a beach bar, stables, a museum, 24-hour security, underground wiring for electricity, fiber-optic internet, and more.
Upcoming community amenities will include a clubhouse, a swimming pool, a fitness center, an equestrian center, a central plaza, hiking trails, gardens, and more. The Town Center will include a church, a library, a student learning center for the local Quebro community, and an expanded version of the already-built museum.
Why Live Or Retire Here:
- The Ultimate Escape
- Stunning Natural Beauty
- Luxury Living At An Affordable Cost
FAQs About Living In Panama
What is the best part of Panama to live in?
That depends on who you ask… For Live And Invest Overseas Founders Kathleen Peddicord and Lief Simon, it’s Los Islotes… For thousands of other expats it’s Boquete… or Panama City… or Bocas… or beyond. Whatever you’re looking for, you’ll likely find a perfect corner of Panama for you.
What part of Panama is the safest?
Generally speaking Panama is very safe. If you do encounter crime it’s likely to be along the lines of petty theft and more likely to occur in the City but it’s always advisable to take normal safety precautions anywhere you go.
Can you retire in Panama on $2,000 a month?
Yes, Panama offers a range of expat havens where a monthly budget of $2,000 or less will see you living very well.
Is living in Panama a good idea for retirees?
It certainly is. Panama offers excellent health care, easy residency options, impressive infrastructure, a wealth of entertainment options, and the pensionado program which serves up discounts on travel, hotels, restaurants, hospital and medical expenses, and more.
That depends on who you ask… For Live And Invest Overseas Founders Kathleen Peddicord and Lief Simon, it’s Los Islotes… For thousands of other expats it’s Boquete… or Panama City… or Bocas… or beyond. Whatever you’re looking for, you’ll likely find a perfect corner of Panama for you.
Generally speaking Panama is very safe. If you do encounter crime it’s likely to be along the lines of petty theft and more likely to occur in the City but it’s always advisable to take normal safety precautions anywhere you go.
Yes, Panama offers a range of expat havens where a monthly budget of $2,000 or less will see you living very well.
It certainly is. Panama offers excellent health care, easy residency options, impressive infrastructure, a wealth of entertainment options, and the pensionado program which serves up discounts on travel, hotels, restaurants, hospital and medical expenses, and more.
