Panama, Panama
Updated August 7, 2023 - June 4, 2021: Gloomy Real Estate Market in Panama confirmed.
In Panama, you could live comfortably with $1000-$1200 for a single person and $1500- $2000 for a couple if you live outside Panama City or the Coronado area. If you wanted to live in Panama City or Coronado, you’d need to add at least $1000 a month for your expenses because rents are higher in that area. If you live by the coast, your electric bill will be higher than if you live in the highlands where air conditioning is not needed.
In our calculation for the cost of living in Panama, we take into consideration housing, food, healthcare, transportation, insurance, internet, utilities, entertainment, cell phones, and to some extent, even travel! It’s no wonder why Panama is quickly becoming a top retirement destination for ex-pats who wish to make their money stretch a bit further while still enjoying life!
This is a typical monthly itemized budget for a couple living in Panama:
Rent of $800 includes Water, Electric, Trash collection, and Gardener
Food & Eating Out $450
Internet, CableTV & Netflix $60
Cell Phone $20 (no charge for international calls)
Gas for cooking and dryer $10
Transportation (gas, insurance, maintenance) $60
Public Health Care $2
Postage and Shipping $10
Clothes, Travel, Hair care, massage, Mani-Pedi, Misc $100
TOTAL $1512 ($18,144 per year)
If paid monthly, Panama health insurance costs about $110 for a 65-year-old. You can get a discount if you pay 3 – 6 months in advance.
The price of Real Estate in Panama starts to come down faster. Supply keeps rising. Also, the supply of FORECLOSURES and Bank Repossessions. At the same time, RENTS also continue to come down. And it ain't over yet. The COVID restrictions are only one factor. The COMPLIANCE-SICK banking system adds to the fire. The actual President has done a lot of harm to the country.
- In Panama del Este, a single-family home with a pool can already be bought for less than $400,000
- In Coronado, the supply of Villas with pools is rising each day. Prices have fallen to $350,000 - $500,000
Shit happens if you tell men can only leave home on Tuesdays and Thursdays while women are only allowed to go shopping on Mondays and Wednesdays. This is exactly what Nito decided during the Covid-crisis in Panama. The way the socialist President tackled the COVID-19 virus in Panama did a lot of harm to the economy and to the country.
Shit happens once LEFT politicians get into power. Note that 'the more left' a regime, the stricter the COVID rules and the harder and the longer these are enforced. The amendment to the SECOND PASSPORT legislation is nothing more but a desperate move to try and stop the Panamanian Real Estate crisis. Panama Real Estate prices were, until recently, supported by RICH Immigrants. Locals can only afford to buy homes at prices under $100,000. Investors and immigrants who are patient will, in one or two years from now, be able to buy beautiful residences for $300,000 or less. Normally, in 2 years from now, LEFT Nito will also be no more.
April 7, 2018: Real Estate Prices and rents are finally coming down...hopefully over the next years, price/quality will improve, and the general price level will normalize.
Thinking of Real Estate!? PANAMA is probably one of today's best locations to go to! Panama has a shortage of 370,000 homes and plenty of Government incentives for families to purchase their homesteads. In Panama, Real Estate has an annual yield fluctuating around 6 %. Many Properties are sold with a TITLE like is done in the USA.
Real Estate ownership in Panama is very similar to Western countries. If not better. Most properties have titles or can be titled, title insurance can be bought, traditional mortgages are available, and Panama has foreign investor protection laws that guarantee the standard rights of land ownership.
About the Area
Young and growing, with the picturesque tropical nature. With the Panama Canal winding through it, Panama is a mecca for retirees, New York Mets fans, and people with families who love a friendly, safe, and small-town atmosphere. The urbanization is located in the southwestern part of Panama City, and although today it is still a 30-minute drive, the prospect is that with the new Bridge and the Monorail, the distance will shrink to 15 minutes. The area, however, boasts all the everyday conveniences of daily life with a unique PANAMA charm.
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| View to the Panama Pacifico Airport |
Making your home more efficient, healthy, and comfortable
The way we see it, because our lives are always changing, so too should our homes. We continually look for technologies that keep pace with our lives, from the latest thinking about interior design to innovative materials to environmentally friendly building practices. Our innovations make our customers’ homes more energy-efficient, cost-efficient, healthy, and comfortable.
Our homes feature new technologies like hard-wired smoke detectors that operate even when the power goes out, more efficient central heating & cooling systems, and higher-density insulation products. We ensure that our appliance packages guarantee low energy use with high comfort and durability.
Our family of builders is always exploring new “green” home systems, construction materials, and neighborhood amenities.
Features include:
Top Features
- Central Vacuum cleaner
- Flex Room included
- Double-pane, insulated, low E (high efficiency) screened windows
- Plantation Shutters
Kitchen
- Wood kitchen cabinets with 36” upper wall cabinets with door hardware
- Granite countertops
- Large refrigerator with Icemaker
- Large microwave
- Multiple-cycle dishwasher
- Gas range with self-cleaning oven
- Stainless Steel kitchen sink with an electric garbage disposal
- Faucet with pullout sprayer
- Kitchen Pantry
Bathrooms
- Granite countertop(s) in owner's bath
- Shower with enclosure in owner's bath
- Corian® vanity tops in secondary baths
- Wood bath cabinets
- Decorative Moen® faucet
Interior
- Frame down coffered ceiling in owner’s suite, Cathedral-Vaulted Ceilings
- Flex Room included
- Tile or wooden floors in foyer, kitchen, breakfast nook, baths, gathering room, and laundry
- Decorative baseboard trim
- Upgraded raised-panel interior doors
- Walk-in closets
- Decorative chrome door hardware
- Linen Closets
- Fire Alarm System
Exterior
- Covered and Screened Patio's
- Whole house gutters & rainwater recipients.
- Tile or metal roof
- Easy to maintain the decorative exterior
- Ventilated aluminum soffits
- High-grade Sherwin-Williams latex paint
- Decorative brick paver driveway
- Large, private lanai
- Professionally landscaped home site with full sod coverage and automatic sprinkler system
Energy
- Ceiling fan prewires, per plan
- Decora rocker switches
- Washer and dryer pair cable TV, Internet connections, and telephone outlets, per plan
- Smoke detectors/carbon monoxide detectors
- R-30 ceiling insulation
- Insulated fiberglass entry door
- Compact fluorescent exterior lighting
- Double-pane, insulated, low E (high efficiency) screened windows
- The optional electrical group with solar panels, inverter, and batteries
Structural
- Steel-reinforced concrete block construction
- Professionally engineered roof trusses
Electrical & Plumbing
- Automatic garage door opener with remote controls
- Exterior waterproof electrical outlets
- Energy-efficient solar-gas water heater
Heating & Cooling
- Lennox® central air conditioning and heating system with a programmable thermostat
Neighborhood
- Backup electrical power system
- Feature State of the art Water Well
- Resort-Style Pool and Spa
- Clubhouse with State-of-the-Art Fitness Center
- Natural Gas Included
- Tennis Courts
- Outdoor Barefoot Bar
- Community Activity Room and Catering Kitchen
- BBQ Grill
- Gated Entry
- Walking Distance to Grocery Store
- Just 1/2 Mile East of the Pan American Highway, 30 minutes out of the new International Airport, and 1 hour away from Tocumen Airport.
- Close Proximity to a Wide Selection of Retail, Restaurant, and Entertainment Venues
- Mountain views but Less Than 10 Miles from the Beach
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