Where to Live in Panama
Panama City is the country’s capital and definitely place for those who like the stimulation of living in a modern cosmopolitan metropolis. It is home to more than half of the country’s population and a bustling center of international banking and commerce. The original city was founded the the Spaniard Pedro Arias Dávila in 1519.
Panama City runs about 7 miles along the Pacific Coast, with Panama Bay (La Bahía de Panamá) on the south, the Panama Canal on the west and the ruins of Panamá la Vieja to the east. Most avenues run parallel to the coast with streets running perpendicularly.
Modern day Panama City boasts a wide range of architecture, from stately 16th century homes in Casco Viejo, the oldest part of the city, to the city’s imposing Miami-like string of high-rise buildings. Prestigious neighborhoods like Alto de Golf, Dos Mares abound with greenery and flowers. Other areas as Obarrio, Campo Alegre, Paitilla and El Cangrejo teem with interesting buildings and designs.
| How Much Does it Cost to Live in Panama?
An important factor that determines the cost of living for foreigners in Panama is their lifestyle. If you are used to a wealthy lifestyle, you will spend more than someone accustomed to living frugally. Panama is not dirt cheap but it is affordable.
Despite having one of the highest standards of living in Latin America, purchasing power is greater in Panama than in the United States or Canada. The country is really a bargain compared to most places. The cost of living is reasonable and is much less than in the United States, Canada or Europe. Foreign residents will find their daily expenses to be significantly less than in “first world’ countries. We will explain the things that make this statement true.
In most areas housing costs less than what it does in the U. S. and hired help is a steal. A full-time maid will run under $200 monthly, a movie will cost under $4, a gardner will cost $10 a day and a good restaurant meal will cost under $25.
Recently, we had lunch at an all-you-can eat buffet at a nice hotel in downtown Panama City. The bill for two was just under $25 for all the food you can eat plus beverages and a table of mouth-watering desserts.
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