What is the average cost of housing in Panama City?

"The cost of housing in Panama City can vary greatly depending on the area and type of property. Generally, the average cost of a one-bedroom apartment in the city center is around $800 to $1,000 per month, while a three-bedroom apartment in the suburbs can cost around $1,200 to $1,500 per month. Prices for larger homes and luxury properties can range from $2,000 to $5,000 per month," mentioned another expat when asked about moving to Panama City, Panama.

"Panama prices are still low but not like advertised by different websites. The retirement (jubilado) discount is interesting but not fully discounted as advertised, it's not 25% on the total electric bill, it's 25% of the of a portion of the electricity used so far away from 25% of total bill. Hotels are discounted by 25% but from their highest price so if a hotel is showing a special price of $100/night, you won't get 25% off $100, you will get 25% of their regular price that maybe around $150 so you better use their special rare and not applying your jubilado discount. For restaurants, the 25% discount worth it but it's not 25% off the total bill, it's 15 to 25% on portion of the bill but still worth it. Condo/house purchase or rental are cheaper. Food is not cheaper then the USA and even higher so if you buy locally food, you will save but limited on your choice. If you buy some food products from the USA, you will pay full price....higher then the USA. Panama is hot and Humid besides if you live in the mountains but there are negative aspects to it. My wife and I live in Panama and we like it so this message is not to sugar coat Panama but to be realistic. We like Panama, people are very friendly with no crazy politic discussions. You don't hear about shooting here and there on daily basis, it is safe and quiet place. They use the US currency, it's not to far away from the USA so it's interesting," commented one expat who made the move to Panama City, Panama.

Kovalenko & Vera Attorneys at Law in Panama
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Kovalenko & Vera is a Panamanian law firm that specializes in immigration law, corporate law, real estate law, banking, contract negotiation, taxes and flag registry. With more than 20 years of professional practice, Kovalenko & Vera builds lasting relationships with our clients to ensure your interests are safeguarded.

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Kovalenko & Vera Attorneys at Law in Panama

Kovalenko & Vera is a Panamanian law firm that specializes in immigration law, corporate law, real estate law, banking, contract negotiation, taxes and flag registry. With more than 20 years of professional practice, Kovalenko & Vera builds lasting relationships with our clients to ensure your interests are safeguarded.
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Click connect to have our partner contact you via e-mail and/or phone.