
In my opinion, the number one place in Panama to live and retire would be Buenaventura, which people would generally think of as being n the greater Coronado area. (Pictured to the right.) Buenaventura is located about 30 minutes past Coronado. So, if you were coming from Panama City, you would go west, past Coronado, to Buenaventura. From Panama City, it would take you about 90 minutes to get to Buenaventura. One of the advantages of living in Buenaventura would be that if you need to get to Panama City for anything it's within reason to drive there. Or, you could go to Coronado, which has more amenities than Buenaventura.
Buenaventura is the most high-end real beach estate beach area here in Panama. The cheapest apartment there could cost you in the US $350,000 - $400,000 range, with the most expensive one probably around $12-15 million dollars. Buenaventura has close access to everything: restaurants, there’s a huge Marriott in the middle of the complex, there's a huge golf course. It has supermarkets and a fresh fish market next to it. There’s starting to be more development near it; more supermarkets, etc.
Another “best place” would definitely be Coronado, which I would consider a mid level to high-end area. Coronado is about an hour west of Panama City. Coronado is very popular with retirees. It has ease of access, and there's a little clinic there that has all the things that you would need in case of an emergency. You have several supermarkets right there. You have a liquor store. You have everything you need. You have restaurants. Coronado is a community, a town in itself. Coronado has gone from being a small town to being a big town now. It's really been growing.
If you like colder climates, I would also recommend that you consider Boquete. Boquete is 45 minutes away from David, which is the second largest city in Panama. David has one of the five largest hospitals in Panama, which is very big and very good. David is a 35-minute plane ride away from Panama City, and then, from David to Boquete is around 30 minutes by car. David has at least two flights a day to Panama City, sometimes more. Usually, the people who like to go to Boquete are older.
While many, many people like it, and it depends on what you’re looking for, some people would say that Boquete is a bit boring, because the people who live there are mostly retired Americans or Canadians, everyone speaks English, etc., so there’s not as much diversity in Boquete as in other places in Panama. Some people would say that this would take some of the fun and adventure out of going overseas to retire. For other people, this is exactly what they’re looking for.
Right next to Boquete, probably half an hour away, is Volcan. Volcan is very similar to Boquete but less densely populated and with fewer things to do and fewer expats. It’s very quiet.