The Cost of Living in Panama

newsnviews2.jpg(thepanamagringo.com) Panama City has been transformed from a run-down third world city, to a bustling metropolis with a first world infrastructure. Hip neighborhoods attract more and more positive attention from outside investors, pursuing creative business adventures at third world costs.
In a place where you can live at 1/10 the value of the United States, investment or retirement in Panama has proven to be one of the best lifestyles one can adopt.
Courtesy of our friends at Semusa Realty in Panama City, here is a pricing chart identifying some of the basic costs for living in Panama City.
MONTHLY EXPENSE (In US Dollars)  PANAMA * 
Residence (House or Condo)
•  3 Bedroom
•  2,000 Square Feet 		 Investment - $ 200,000
Rent - $ 1,500.00
 FIX COST  
Electricity $175 
Water (Very Safe to Drink The Best in Latin America ) $20 
Phone (Includes Monthly Fee and Estimate Usage) $50 
Live-In Maid (If you can afford Highly Recommended) $150
Cell Phone $ 50 
Condo Maintenance Fee $ 200 
 Internet Services (Residential) $ 30 
 Cable Service $ 50 
 
Gasoline ($2.35 Per Gallon Estimate)		 $ 50 
Groceries (Monthly for Family of 4) $ 500 
Fire Insurance (Building & Content) $ 50 
Health Insurance (Basic Coverage for Family) $ 150 
Car Insurance (Based on a $ 30,000 Auto) $ 100 

Gas (Cooking & Water Heater)

Note: Some Condos include it on the Maintenance Fee

$ 30
 OTHER REFERENCE COST  

Mortgage Interest Rates

(Usually about 2 point higher than US Very good for Latin-American Standards) 

 %6- %8
Property Tax (Yearly)
•  Land
•  Betterments		 From 0% to 2%
From 0% to 2%
Taxis within Panama City $1.50 
Sales Tax 5% 
Dinner at Fancy Restaurant (For Two with Wine) $ 60 
 Movie Theater $ 3.50 

Bottle of Wine

(Plenty of Variety) Mayor Re-Export Business from the Colon Free Zone

$ 8 
Schools $ 6,000 Capital Donation
$ 6,000 - $8,280 Tuitio 
Gymnasium Monthly $ 65
Dentist $ 35 
Doctors Appointment $ 40