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I have lived in five different countries on three different continents, and I will say as a fact that Panama has been the cheapest of them all – between Spain, Chile, the United States and Costa Rica. Homes for sale in Panama are relatively inexpensive as well.
I came here as an intern, and am not making much to say the least. But my housing, a spacious fourth story apartment in the middle-upper class neighborhood of El Cangrejo has been paid for ($250 per month), which does make me feel a little better that I’m not throwing my money away on rent with all the amazing homes for sale in Panama. My added $5 a day obviously doesn’t cover it all, but let me attempt to explain how this situation hasn’t lead to me burning away all of my savings, just yet.
The daily amenities that I have lucked out on cost about the following per month: electricity: $45; water: $20; phone $50; cell phone $20; internet $35; cable $50; gas $20; and a live-in maid $150.
As I mentioned, rent can start somewhere around $250 for a small apartment, or go up to about $2,000+ per month for a large condo in a good neighborhood. With all the homes for sale in Panama, if you have the money to start out with, it would definitely be a long-term money saver to purchase. The homes for sale in Panama range from villas at the beach to mountain communities to high rise condos in the heart of Panama City and everything in between. The current real estate boom is a near promise that a real estate investment in the country will leave you with some kind of a profit should you choose to sell.
Regarding food, you can get a decent lunch or dinner for only $3 plus beverages. A very nice dinner for two might run you $60, which is hardly steep in comparison with prices in other countries. The cheapest beers get in the city are 75 cents at some local bars, and $1 or more anywhere that considers itself to be at least a little gringo-friendly.
Most clubs offer a promotion where you buy a decent bottle of liquor (say Smirnoff or Bacardi) for $25 or $30, and it comes with free mixers. That can easily hold off a group of five for a couple hours, and breaks up to a very affordable Saturday night bar tab!
Movies here are no more than $3, and there are some amazing shopping areas such as Albrook mall where you can get a nice woman’s dress shirt or men’s khaki cargo shorts for $10 each. Even cheaper prices are abound if you are willing to spend a little more time looking.
Taxis anywhere in the city are rarely more than $1.50, and if you should need a regular checkup or consultation with a doctor, that usually runs an average of $25 (if no tests are needed). Decent hotels in nice neighborhoods can be found for $35 or more, but prices in the tourism sector seem to be rising daily. While the prices can add up when you aren’t careful, all in all, it is a very affordable cosmopolitan city to live in.
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