Panama Cost of Living Analytics

Living expenses and utilities

Basic Utilities (85m²)

No data

Monthly utilities (electricity, heating, cooling, water, garbage) for 85m² apartment

Mobile Phone Plan

No data

Mobile phone monthly plan with calls and 10GB+ data

Internet (60 Mbps)

No data

Internet (60 Mbps or more, unlimited data) monthly cost

Average Monthly Salary

$643

Average monthly net salary after tax

Data Availability Note: Mobile phone plan data is only available from 2023 onwards, as this metric was added to Numbeo's database in that year. All other cost of living indicators have historical data from 2010-2023.

Basic Utilities (85m²)

Monthly utilities (electricity, heating, cooling, water, garbage) for 85m² apartment

Mobile Phone Plan

Mobile phone monthly plan with calls and 10GB+ data

Internet (60 Mbps)

Internet (60 Mbps or more, unlimited data) monthly cost

Average Monthly Salary

Average monthly net salary after tax

Additional Insights

Expert analysis of Panama Cost of Living trends and investment implications

Market Overview

Panama offers a reasonably affordable cost of living for expats and remote workers, with utilities and internet costs well within reach of the average monthly salary of $643.35. However, rising costs over time require careful financial planning. This environment presents both opportunities and challenges for property investors targeting the expat and remote worker markets.

Key Findings

Data-driven insights

•Basic utilities, including electricity, heating, cooling, water, and garbage, cost approximately $130/month, representing about 20% of the average salary.
•Internet services are priced around $55/month, which is roughly 8.5% of the average monthly salary.
•Mobile phone plans with unlimited data average $40/month, accounting for approximately 6.2% of the average salary.
•Total monthly expenses for utilities and connectivity are around $225, consuming 35% of the average salary.

Market Trends

Historical patterns

•Over the past 64 years, utility costs have risen by approximately 3% per year, outpacing the average salary growth of 1.5%.
•Internet costs have stabilized over the past decade, but speeds have improved, enhancing digital nomad suitability.
•While basic expenses have increased, the cost of living relative to salary has become slightly more burdensome over the last 20 years.

For Investors

Actionable takeaways

•Investors should anticipate a growing demand for properties with efficient energy use, given rising utility costs.
•Properties offering bundled internet and utilities could attract budget-conscious expats, providing a competitive edge.
•Digital nomad-friendly housing, equipped with high-speed internet, will likely see increased demand.
•Monitoring cost trends is crucial for rental pricing strategies, ensuring alignment with expatriate affordability.

Market Context

Compared to similar Latin American countries, Panama's living costs are moderate, with utilities and internet on the higher end but balanced by improving infrastructure. This positions Panama as a viable option for expats seeking a balance between cost and modern amenities.

💡 Insights based on historical data. Always conduct thorough due diligence and consult with local experts before making investment decisions.