Panama City : Panama

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What it's Like to Retire in Panama City

Panama City, the capital and largest city in Panama, has a population of over 1.5 million within its metropolitan area, and is located at the Pacific entrance of the Panama Canal. The construction of the Canal attributed to the infrastructure, health and economy of Panama City which helped it to become a financial and shipping center and tourist destination. The city lies in the Panama District but the metropolitan area also includes neighborhoods on the opposite side of the Canal. Many languages are spoken in this culturally diverse city including Spanish, English, German, Portuguese, French and Chinese. The city has one of the world’s largest amounts of high-rise buildings, which form a very dense skyline. Panama has been a popular retirement place for expats due to its low cost, stable government, use of the $US, and laidback lifestyle. Picture of Panama City Financial District courtesy of Wikipedia and Dronepicr; pictures of Archaeological site of Panama Viejo and Historic District of Panama courtesy of Wikipedia and Jim Williams; picture of Bridge of the Americas at the Pacific entrance to the Panama Canal courtesy of Wikipedia and Suizita. (See our Mini-Retirement Guide to Panama for more information).
 

Where to Retire in Panama City and Home Prices

Panama City is made up of many neighborhoods where you can find homes with many different architectural styles, along with townhouses, villas and condos priced under $100,000. The average single family home price in Panama City is in the mid $400's. The more modern areas of the city have many high-rise buildings with apartment rentals, or you can also find a nice home in the center of the city for over $1,000,000. Nearby cities like Balboa or smaller developments like Cocoli offer additional options. Building a home here is less expensive than in the U.S. and with low property taxes.
 

What is special about Panama City

Panama City is an economic and cultural hub of Panama. It has hundreds of historical sites, restaurants, and museums.
 

What is not special about Panama City

Panama City has a tropical climate with many rainy and cloudy days.
 

Who will like retirement in Panama City

Expats who want a to live in a large city with free or inexpensive health care, a lower cost of living, good transportation, historical sites and cultural events would enjoy living here.
 

Local economy is driven by

The economy here is serviced-based and includes banking, commerce and tourism. Shipping is also an important part of the city's economic growth.
 

Climate and Physical Environment

Because Panama City has a tropical climate, it receives about 75 inches of precipitation annually. The wet season lasts from May to December, with temperatures about 80 degrees throughout the year.
 

Restaurants & Cultural Scene

There are many restaurants and historical sites located here, and museums that pertain to the construction of the Panama Canal. The city's nightlife is centered in Calle Uruguay and Casco Viejo neighborhoods, along with Amador Causeway, a newer tourist area.
 

Crime

The crime rate in Panama City is called "moderate", and most crimes pertain to personal property such as homes and cars.
 

Medical facilities

There are many hospitals and medical facilities in Panama City. Expats find that health care is much less than in the U.S., and Panama is considered a hot spot for medical tourism due to its low cost, professional care, and it's not a bad place to recuperate.
 

Transportation

The city offers bus transportation and taxis and the citywide Panama Metro. Panama's International airport is located in Panama City's outskirts along with two other airports that were previously used by the Air Force Bases that were once located here.
 

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