Questions? Here we go.
That depends on where you are going to live.
Panama City is actually the 3rd most expensive city in Latin America according to this article reflecting the high standard of living. But in our experience Costa Rica’s San Jose is even more expensive so we’re not quite sure how Panama ended up so high.
Like in any capital city, there are expensive and less-expensive neighbourhoods. Outside the city, especially on the country side, live is a lot cheaper. But in general, be prepared to budget at least $ 2000,– a month to have a nice comfortable live in Panama as a foreigner.
There is something for everyone.
Two sites to find property listings are:
Encuentra24.com and Compre y Alquile (Spanish only). Of course there are tons of other websites offering real-estate listings but this will be a good start.
A few general observations: it’s a buyers market. There are many many hundreds of apartments for sale. We strongly recommend you do not buy any real estate until you have:
- lived in Panama for a few months
- gotten a feel of the different neighbourhoods
- spoken with fellow-country men about their experiences
Rents are affordable and going this path during your first few months is the best way to go.