Cost of Living In Panama City, Panama 2023?

In this weeks edition of the No Permissions Newsletter I want to break down the approximate costs of living in Panama City, Panama. Everything I will show you is based in and around the El Cangrejo neighborhood which is part of the larger district called Bella Vista. I have had multiple friends within the crypto community ask about the costs of making the move to this beautiful country.

El Cangrejo, or The Crab a Neighborhood in Panama City, Panama.

We have been living in the El Cangrejo neighborhood for almost two years. When the world was in lock downs we decided to spend time in Acapulco, Mexico so that our son could have some semblance of a normal life. Prior leaving for Mexico we were living in an area known as Panama Pacifico across the Panama Canal. It is the old Howard, Air Force. Sadly they chose to take the restrictions too far and forced us to make the hard decision to leave the country until things normalized in April of 2021. I would never recommend living in Panama Pacifico due to the surveillance.

So upon our return we decided to live in what we consider to be the most expat friendly neighborhood in Panama City. Our neighbors include boxer Roberto Duran and Panamanian recording artist Sandra Sandoval. In this neighborhood you have a myriad of restaurants, bars, tattoo parlors, and coffee shops. You don't even need a car if you live in this area because we have two Metro stops as seen with the capital M's on the map. The street that is the heart of the neighborhood is Via Argentina.

Then of course we have the Andres Bello park where my son Maximus is pictured below. It is a haven for dog lovers, families, people who want to exercise and for those that just want to breath in the fresh air. Occasionally a family of toucans will stop by and there are a few species of parakeets and parrots that visit as well. The El Cangrejo neighborhood is only a 20 minute walk away from Metropolitan Park which is the largest rainforest inside of a city.

What is The Cost of Housing In El Cangrejo in 2023?

Due to the recession and the difficulty in traveling over the last few years, the Panama economy suffered. This means there are many listings around the country but El Cangrejo, due to its popularity, still remains a top option.

Below I will list three different options of apartments, ranging from a 1 bedroom up to 3 bedroom apartments. Each one has a pool.

• 1 Bedroom Loft, 96m2, not furnished,$900

• 2 Bedroom 2 Bath, 90m2, furnished, $1100

• 3 Bedroom 2 Bath, 165m2, furnished, $1600

• 3 Bedroom 2 bath, 223m2, not furnished $1850

Now let's discuss expenses for the apartments like electricity, and internet. Every apartment we have ever had included garbage, and gas since those are payed by the landlord in the HOA.

• Internet, you can have Cable packages starting at 300mbps for $53 a month which includes Cable TV.

• Electricity runs approximately $40 a month for us and we use the A/C. Newer neighborhoods have much more expensive electricity rates than El Cangrejo.

• Mobile phone plans are super cheap here. $20 a month is normal for unlimited plans.

Now we know everyone has different tastes. I understand that some of you will likely go out to eat every meal. Some of you on the other hand will visit the markets for your fresh produce, fish, and meat. Food expenses are considerably cheaper here if you learn how to shop at the farm markets. If you choose to go to the grocery stores your bills will be much higher. We are a family of three and we don't cut corners on food costs. We regularly spend $400 a month at the grocery store.

Below Are Panama's Grocery Stores Starting With The Most Expensive.

• Riba Smith

• El Rey

• Super 99

• Machetazo

• Super Xtra

We highly recommend visiting the public markets to enjoy a bit of the culture and save a substantial amount on your food costs.

I highly recommend you visit Panama City and visit all the districts of the city and even the small towns in the country before deciding to rent a place. I also do not recommend buying a house within a year of moving to Panama. You may find that you do not like the neighborhood. Similar how we would never live in Panama Pacifico again or expat hotspots like Boquete, Panama. One size definitely does not fit all.

This Weeks No Permissions Crypto Update.

I want to thank all of you for joining me once again! The No Permissions Newsletter is gaining traction and the No Permissions Patreon is growing way faster than I ever expected. If you sign up for the Patreon, don't forget that you get to schedule 30 minutes with me and we can talk about whatever you want. Have a great week!