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Price Comparison in Panama
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When retiring or buying a second home you want to ensure you are choosing the right place. Below is a chart of the cost of living in Panama. By performing a quick price comparison to what you pay now and you will see that Panama has low cost of living.
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Monthly Expense |
Estimated Monthly Cost |
| Electricity |
$175.00 |
| Water |
$20.00
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| Gas (Cooking, Heat & Water heater ) |
$30.00 |
| Phone (Average Usage) |
$50.00 |
| Cell Phone |
$50.00 |
| Internet Services |
$30.00 |
| Cable Services |
$50.00 |
| Fire Insurance |
$50.00 |
| Health Insurance (Family Coverage) |
$150.00
|
| Car Insurance (Based on $30 000 Car) |
$100.00 |
| Maid Service |
$150.00 |
| Groceries (For a Family of 4) |
$500.00 |
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| Taxi Within Panama City |
$1.50 |
| Dinner at Fancy Restaurant (for Two with Wine) |
$60.00 |
| Movie (for Two) |
$7.00 |
| Gym Membership (Monthly) |
$65.00 |
| Dentist Appointment |
$35.00 |
| Doctors Appointment |
$40.00 |
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There is a great capital movement in Panama, real estate in Panama has developed in the past few years, and residences and apartments with a medium and high value have played an important part, as an engine for the national economy, generating a huge movement of purchase and sale in the real estate market. With a quick , you can see that the cost of living is definitely lower in this country.
When you perform a price comparison, you will realize why Panama has become a destination where safe investment and the development of the real estate market can be relied on, whether it is for the construction and purchase of new and luxurious hotel project or as a touristic or residential destination.
This is why North Americans keep an eye out for Panama as their retirement spot. Currently, there are great projects for retirees, near the city, some at the beaches and others in the interior of the country, which provides more options for them to choose which one is the special place for them. Not only can a price comparison prove that most items are available at a lower price in this country, but a can also show that retirees obtain multiple benefits as well.
It is estimated that each average buyer spends up to 205 thousand dollars in the purchase of his residence and that a resident family spends approximately 24 thousand dollars in permanent and semi permanent items as well as groceries and daily expenses, which is why lawyers, insurance and customs agents have an added advantage due to the development that is taking place in the country. Nevertheless, a price comparison performed recently shows that the monthly expenses in the city of Panama, a family can spend approximately within $1,500 to $2,000 for a family of 4 people living with all the comforts. This price comparison proves that the cost of living is really low in Panama.
Spend a few minutes and do a to find out about the value of different items. Due to these reasons, and after a price comparison, Panama is being used as a retiree spot for foreign senior citizens who have the posibitlity of acquiring a safe, comfortable and cheap destination, with great advantages and all that added on to the fact that there are wonder touristic attractions to visit in Panama.
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