Are you looking to move to Panama? Panama has emerged as one of the most attractive destinations for expats and retirees, thanks to its diverse landscapes, affordable cost of living, and modern amenities. Whether you’re seeking a tropical beach lifestyle, a cooler mountain retreat, or the energy of a bustling city, Panama offers a wide range of options for every budget and lifestyle. Finding the perfect place to relocate to Panama, however, requires thoughtful consideration of your personal preferences, financial situation, and the amenities you prioritize. This guide will help you navigate the different regions, highlight their unique characteristics, and provide insights to help you find your ideal location.
Why Relocate to Panama?
Panama offers a unique blend of natural beauty, stable government, growing economy, and a modern infrastructure that makes it one of the most popular relocation destinations for expats. The country uses the US dollar, which makes it financially appealing for North American expats. Panama’s healthcare system is also excellent, with high-quality care at affordable prices, and its Pensionado program offers retirees numerous benefits, such as discounts on services, healthcare, and entertainment.
Understanding Your Needs
Before you decide where to relocate to Panama, it’s essential to reflect on your personal needs and preferences. Ask yourself the following questions:
- What type of climate do you prefer? Panama offers both tropical coastal areas and cooler, more temperate mountain regions.
- Do you want to be in a busy urban area or a quiet rural setting? Panama’s diverse geography allows for both bustling city life and peaceful, off-the-beaten-path locations.
- What is your budget? Panama offers options for every budget, from affordable small towns to high-end urban neighborhoods.
- Do you need access to schools, healthcare, and other services? Some regions of Panama are more equipped with modern amenities and conveniences, while others may have limited access.
Relocating to Panama on Different Budgets
Panama is known for offering a wide range of cost-of-living options depending on the location. Below, we explore some of the best regions to relocate to Panama, categorized by budget, lifestyle, and amenities.
1. Panama City – The Urban Hub
Best for: Those seeking modern amenities, career opportunities, and an international lifestyle.
Budget Range: Mid to high
Panama City is the country’s vibrant capital and offers all the conveniences of a major urban center. It’s perfect for those who want to maintain a cosmopolitan lifestyle with easy access to luxury restaurants, shopping malls, international schools, and world-class healthcare facilities.
- Housing Costs: In Panama City, rent for a one-bedroom apartment in the city center ranges from $1,000 to $2,500 per month, while buying property in upscale areas like Punta Pacifica or Costa del Este can cost between $2,500 and $4,500 per square meter.
- Lifestyle: Panama City boasts an energetic lifestyle with a thriving expat community. The city has numerous cultural attractions, including theaters, museums, and an active nightlife scene. Additionally, it’s a major business and financial hub, making it ideal for those who are still working or want to start a business.
- Conveniences: Panama City is home to the best hospitals, international schools, and shopping centers in the country. It’s also the primary transportation hub, with the Tocumen International Airport offering direct flights to destinations worldwide.
2. Coronado – Beachfront Living Close to the City
Best for: Expats seeking a beach lifestyle with easy access to Panama City.
Budget Range: Mid
Coronado is a popular coastal town located about an hour from Panama City. It’s known for its beautiful beaches, gated communities, and well-developed infrastructure. This area has become a hotspot for expats who want to enjoy beachfront living while remaining close to the conveniences of the capital.
- Housing Costs: Renting in Coronado ranges from $800 to $1,800 per month, depending on proximity to the beach and the amenities offered. Buying property typically costs between $1,500 and $2,800 per square meter.
- Lifestyle: Coronado offers a laid-back, resort-style lifestyle. The town has a growing expat community, making it easy to connect with fellow retirees or newcomers. The relaxed beach atmosphere is combined with access to golf courses, water sports, and restaurants.
- Conveniences: Coronado has several supermarkets, pharmacies, and medical clinics, as well as schools and restaurants. While the healthcare facilities are not as extensive as in Panama City, the close proximity means residents can travel to the city for more complex medical needs.
3. Boquete – Mountain Retreat
Best for: Those seeking a cooler climate, outdoor activities, and a close-knit community.
Budget Range: Mid
Located in the highlands of Chiriquí Province, Boquete is known for its cool mountain climate and lush landscapes. This town is a favorite among retirees and expats who prefer a more rural, tranquil setting with plenty of opportunities for hiking, bird-watching, and gardening.
- Housing Costs: Rent in Boquete is affordable, ranging from $600 to $1,500 per month. Purchasing property typically costs between $1,200 and $2,000 per square meter.
- Lifestyle: Boquete offers a slower, more peaceful pace of life compared to the cities and coastal towns. Expats and retirees are drawn to its outdoor activities, local coffee plantations, and frequent cultural festivals. Boquete is particularly known for its strong sense of community, with many expat groups and activities available.
- Conveniences: While Boquete doesn’t have large hospitals, it is close to the city of David, where top-notch healthcare services are available. There are also several small shops, markets, and restaurants within town limits, and David offers larger supermarkets and shopping malls.
4. David – Affordable and Growing
Best for: Expats looking for an affordable city with good amenities and proximity to nature.
Budget Range: Low to mid
David, the capital of Chiriquí Province, is one of the fastest-growing cities in Panama. It offers an affordable cost of living, easy access to both the highlands and beaches, and a more authentic Panamanian experience compared to expat-dominated areas.
- Housing Costs: Renting in David ranges from $400 to $800 per month, while buying property can cost as little as $900 to $1,500 per square meter, making it one of the most affordable cities in Panama.
- Lifestyle: David offers a more traditional Panamanian lifestyle, with local markets, restaurants, and a vibrant city center. It’s an ideal location for those looking to immerse themselves in Panamanian culture while still enjoying modern conveniences.
- Conveniences: David has good healthcare facilities, supermarkets, and schools. Its close proximity to Boquete means you can easily explore the highlands, while the beaches of Las Lajas and Boca Chica are just a short drive away.
5. Pedasí – A Peaceful Coastal Escape
Best for: Those who want a quiet, off-the-beaten-path beach lifestyle.
Budget Range: Low to mid
Pedasí is a small, tranquil fishing village located on the Azuero Peninsula, known for its unspoiled beaches and relaxed atmosphere. This area is perfect for retirees looking for a peaceful, simple life surrounded by natural beauty.
- Housing Costs: Rent in Pedasí ranges from $500 to $1,200 per month, and property prices range from $1,200 to $2,000 per square meter, making it an affordable coastal option.
- Lifestyle: Pedasí offers a peaceful, rural lifestyle where you can enjoy stunning beaches, fishing, and eco-tourism. It’s also known for its community spirit and frequent cultural festivals.
- Conveniences: Pedasí is more remote, so amenities are limited to small grocery stores, restaurants, and a local clinic. However, larger towns like Las Tablas are nearby, offering access to more services.
Finding Your Perfect Location to Relocate to Panama
When you relocate to Panama, there are a variety of regions to choose from, each offering different lifestyles, climates, and budgets. Whether you prefer the excitement of Panama City, the beach life in Coronado or Pedasí, the cool mountain air of Boquete, or the growing affordability of David, there’s a perfect location for everyone. By considering your lifestyle preferences, budget, and needs for conveniences such as healthcare, schooling, and amenities, you can find the ideal place to make your new home in this beautiful and welcoming country. For more info about how to relocate to Panama, contact us.
