What's the overall cost of living in Coronado, Panama?
Roy Cannon - Gestoria Cocle - main office in Penoneme
Chit chat during Wednesday evening "Happy Hour" at a popular watering hole in Coronado seems to agree that an American couple who can do without Skippy Peanut butter, but who want a pool and air conditioning can "get by" on $2,500 a month, which includes air conditioning, a once a week maid, internet, cable and a small car - if you own your property. Rents in the area run the range from $850 to "sky is the limit for a large penthouse on the...
Chit chat during Wednesday evening "Happy Hour" at a popular watering hole in Coronado seems to agree that an American couple who can do without Skippy Peanut butter, but who want a pool and air conditioning can "get by" on $2,500 a month, which includes air conditioning, a once a week maid, internet, cable and a small car - if you own your property. Rents in the area run the range from $850 to "sky is the limit for a large penthouse on the beach". If you move a bit inland or along the coast to a less "gentrified area" you might be able to have a decent lifestyle for $1,500 a month. Ask ten people and you will get ten different figures...come for a visit and do your own market survey. If you learn to speak Spanish (or Spanglish) your cost of living and enjoyment will improve markedly.
Posted May 10, 2013
Sarah Booth - Panama Holiday Homes & Buyer's Consultant with My Panama Real Estate
It's true the overall cost if living in Coronado, Panama is a tough question since each individual has a totally different lifestyle. I know folks on a limited pension budget who live on $1,200 -$1,500 / month very comfortably. Some of us like to travel (Panama is such a great hub) and dine out often and yes, indulge in imported goods, so of course, the cost of living is higher for some of us.
The local products are amazing... fresh eggs, chicken,...
It's true the overall cost if living in Coronado, Panama is a tough question since each individual has a totally different lifestyle. I know folks on a limited pension budget who live on $1,200 -$1,500 / month very comfortably. Some of us like to travel (Panama is such a great hub) and dine out often and yes, indulge in imported goods, so of course, the cost of living is higher for some of us.
The local products are amazing... fresh eggs, chicken, seafood at a fraction of North America prices (and fresher!); it's very affordable and easy to live on a limited budget here. Clothing and sundries also very affordable.
Can't really say a dollar amount since it's such an individual thing, but it's been proven that you can live here on under $1,000 / month and still have a fantastic lifestyle and a good time. Now, if you're budget is $3,000 - $4,000 / month, you can pretty much live like royalty :)
Posted December 9, 2013
Daryl Ries - Keller Williams Panama, associate
It is said by many experts on expat living that it is possible, if not plain easy, to live well on under $1,000 a month for a couple in upscale places like Coronado, Panama. Based on the fact that many Americans receive Social Security checks of about $1,200 a month, this estimate makes living in Coronado and similar communities in Panama very affordable.
How is this possible? By the fact that Panama is not a First World,...
It is said by many experts on expat living that it is possible, if not plain easy, to live well on under $1,000 a month for a couple in upscale places like Coronado, Panama. Based on the fact that many Americans receive Social Security checks of about $1,200 a month, this estimate makes living in Coronado and similar communities in Panama very affordable.
How is this possible? By the fact that Panama is not a First World, Western economy. It is a small, Second World Central American country with a different economic history. The Panama Canal is a huge economic engine, and Panama has elevated its standard of living and continues to with the ability to provide well for foreigners at low cost. There are no property taxes for 20-30 years on many properties built before 2011, and tax exemptions continue for up to 5 years or more on newer homes and condos. Maintenance fees for condos in Coronado average from $150 - $250 per month, including all amenities, parking and 24 hour security. These are two of the biggest answers to the question "Why Panama?"
Seniors and permanent residents get discounts of 30-50% on hotels and 25% off at restaurants. There are also entertainment, public transportation, airline and medical discounts that add up to a much cheaper cost of living. Coronado offers even less cost than Panama City, with an abundance of local restaurants and services that make it possible to live at a higher standard than in the USA and most Western countries.
You will get spoiled, dining out with cocktails and buying fresh produce, fish and many food products at much lower cost than you are used to at 'home'. Yes and even gas is cheaper!
Posted December 30, 2013
Roberto Diaz - United Country Panama Coastal Real Estate
The cost of living in Coronado, Panama is vastly different depending what you are comparing it to or where you used to live before. If you come from Europe, New York, LA or Tokyo, you will find it amazingly cheap. However, if you come from Mississippi or Nebraska, you might find land prices and real estate high. I think one of the best ways to compare the cost of living between places is to take a few items that are in almost everyone knows the...
The cost of living in Coronado, Panama is vastly different depending what you are comparing it to or where you used to live before. If you come from Europe, New York, LA or Tokyo, you will find it amazingly cheap. However, if you come from Mississippi or Nebraska, you might find land prices and real estate high. I think one of the best ways to compare the cost of living between places is to take a few items that are in almost everyone knows the prices so you can get an accurate depiction of what it would be like.
The closest movie theater to Coronado in Westland Mall. All day Wednesday it plays movies for US $3 per person. Beer in most restaurants are from $1.50 to an expensive $3.00.
Most of the houses that are selling currently are in the $300,000 range. There are much more expensive houses in the millions and of course, but there are also some options for even brand new homes for $120,000.
Recently, I spoke to a developer who is promoting a beachfront condo in which he asks for 30% down in 3 installments for a $190,000 condominium and they would finance the remaining 70%. The monthly payment would be $900 per month.
You can find all types of restaurants as well; a full plate lunch for $3.50 up to $35 per plate at the most expensive place in the area.
Posted April 19, 2014
Ana Camboa - Desarrollo Turistico Buenaventura
The cost of living in the general Coronado, 
Panama area is really low compared to the costs of living in the U.S. and Europe, even taking into account the inflation of Panama in 2014 is 2.3%. So if you are considering retiring or buying a second home in a safe and economical area, the Coronado area in Panama is an excellent choice.
I can list some costs to have a general idea of the cost of living in the Coronado area. These are just very rough averages for a very nice...
Panama area is really low compared to the costs of living in the U.S. and Europe, even taking into account the inflation of Panama in 2014 is 2.3%. So if you are considering retiring or buying a second home in a safe and economical area, the Coronado area in Panama is an excellent choice.I can list some costs to have a general idea of the cost of living in the Coronado area. These are just very rough averages for a very nice...
The cost of living in the general Coronado, Panama area is really low compared to the costs of living in the U.S. and Europe, even taking into account the inflation of Panama in 2014 is 2.3%. So if you are considering retiring or buying a second home in a safe and economical area, the Coronado area in Panama is an excellent choice.
I can list some costs to have a general idea of the cost of living in the Coronado area. These are just very rough averages for a very nice lifestyle. A very nice house could cost you US $450,000. A very nice apartment or condo could cost you $350,000. Here are very average monthly expenses, once again, for a very nice lifestyle, as examples:
Panama area is really low compared to the costs of living in the U.S. and Europe, even taking into account the inflation of Panama in 2014 is 2.3%. So if you are considering retiring or buying a second home in a safe and economical area, the Coronado area in Panama is an excellent choice.I can list some costs to have a general idea of the cost of living in the Coronado area. These are just very rough averages for a very nice lifestyle. A very nice house could cost you US $450,000. A very nice apartment or condo could cost you $350,000. Here are very average monthly expenses, once again, for a very nice lifestyle, as examples:
Food and supplies: $ 700
Gas (if you have a car): $ 300
Electricity: $275
Internet and cable TV: $ 80
Cell phone: $50
Water: $25
Posted August 1, 2014
Corrin Skubin - TRY PANAMA Real Estate
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The cost of living in Coronado varies significantly depending upon your style of living. A lot of expats come here on a very small budget. They live off of their social security, so maybe they get a US $800 per month little house that is very basic. They pay for their utilities. They might have a phone and they buy a $20 phone card a month and that is good enough for them. Maybe they can live off of $1,500 per month. There are other expats that buy half a million dollar condo units and...The cost of living in Coronado varies significantly depending upon your style of living. A lot of expats come here on a very small budget. They live off of their social security, so maybe they get a US $800 per month little house that is very basic. They pay for their utilities. They might have a phone and they buy a $20 phone card a month and that is good enough for them. Maybe they can live off of $1,500 per month. There are other expats that buy half a million dollar condo units and they have the newest iPhones, the go out to dinner, and they go shopping. With that kind of lifestyle they might be spending about $2,500 per month each. So here in Coronado, there can be a low cost of living. It just depends upon what you are looking for and what your needs are. We do have several expats in the area who are single,young men and women, or middle aged, or even older and they do live off of probably $1,200 to $1,500 per month including phone, rent, utilities, and food.
(Coronado expat investors, pictured.)
Posted April 7, 2015
Frank Kehanu
Dear Isthmian's and Newcomers, The Coronado suburb cost of living varies like anywhere else; it depends on the exchange currency (USD) and commodity values.
As defined in the Webster Dictionary, cost of living: the cost of purchasing those goods and services, which are included in an accepted standard level of consumption.
Per the above definition, the cost of living in Coronado, Distrito de Chame, Corregimiento de las Lajas, to any...
As defined in the Webster Dictionary, cost of living: the cost of purchasing those goods and services, which are included in an accepted standard level of consumption.
Per the above definition, the cost of living in Coronado, Distrito de Chame, Corregimiento de las Lajas, to any...
Dear Isthmian's and Newcomers, The Coronado suburb cost of living varies like anywhere else; it depends on the exchange currency (USD) and commodity values.
As defined in the Webster Dictionary, cost of living: the cost of purchasing those goods and services, which are included in an accepted standard level of consumption.
Per the above definition, the cost of living in Coronado, Distrito de Chame, Corregimiento de las Lajas, to any given individual may vary depending on his desired lifestyle, just like everything else. With that said, in general, what a Coronado local resident will get for his money is the following:
As defined in the Webster Dictionary, cost of living: the cost of purchasing those goods and services, which are included in an accepted standard level of consumption.
Per the above definition, the cost of living in Coronado, Distrito de Chame, Corregimiento de las Lajas, to any given individual may vary depending on his desired lifestyle, just like everything else. With that said, in general, what a Coronado local resident will get for his money is the following:
Coronado Its a very popular destination for the Panamanian upper middle class and non-Contadora weekend warriors; the elite.
Coronado provides the town and country atmosphere to those seeking it, without compromising basic modern amenities, at a short drive from Panama City (PTY).
If you like to avoid congested freeways (which is the drawback), leave Coronado not later than 5:45 am or 8:00 to 9:00 pm going towards the city and avoid the afternoon clock out crowd leaving Panama City.
Keep in mind Coronado is in the Corregimiento de las Lajas; there is something within anyone's budget.
(The Panamanian Highway through the town of Las Lajas in Panama, pictured.)
Posted April 7, 2015
Kevin Painter - Azura
Food in Coronado, Panama, is roughly the same price as what we were paying in Sarasota, Florida. Where you get a lower cost of living here in Panama is if you can come here and you can afford your house outright. Especially if it is a new house, you will get a 10 to 20-year tax exemption on your land and property, which means that there are no taxes. The houses are mainly built in block and concrete with just wood trim finish. It still looks great so do...
Food in Coronado, Panama, is roughly the same price as what we were paying in Sarasota, Florida. Where you get a lower cost of living here in Panama is if you can come here and you can afford your house outright. Especially if it is a new house, you will get a 10 to 20-year tax exemption on your land and property, which means that there are no taxes. The houses are mainly built in block and concrete with just wood trim finish. It still looks great so do not be put off. You do not need to insure your home for fire or anything else. If you take my family as an example, with no insurance, and no taxes, and if you are lucky enough to afford the house outright, we live quite comfortably on US $1,500 per month, not including going out for meals or drinking. $1,500 covers our food, gas, and electric (even though electric is more expensive than in the States), and we live quite nicely on that. If you take food and electric aside, most other things are cheaper in Panama.
When Florida was going well, or is you take away the recession / depression, the houses here in Panama were cheaper. What’s happened now is because there is a high supply of housing in the US, the properties are probably under valued there but here in Panama we have a higher demand because of the people coming in from the States, Canada, and Europe. Wherever there is a demand, prices go up. So now, you could buy the equivalent home in Florida for the price that you are going to be paying here in Coronado for a house near the ocean.
The brand new house that I am sitting in right now costs $269,000, which is about the same price as where I came from in Florida. This is a 2,100 square foot home with 2 bedrooms, 2 bathrooms, and a single garage on 7,000 square feet (about 1/5 of an acre of land). It is very nicely finished. It has solid hardwood doors and kitchen cabinets, fully tiled floors. We don’t have carpet because Coronado, Panama is a tropical place, so carpets are not recommended. We have nice wrought iron front doors, a paved driveway, and all the ceilings are elevated. When you walk in here, you would think that you are walking into an American home.
A lot of the people who come to Coronado are in their 50s and 60s. It’s very hot and you do not want to do a lot of gardening. A lot of people are not looking for bigger lots with big gardens to take care of and a lawn to cut every week. That type of home will not go nice here because without the shade, most days here are 90 Fahrenheit and you don’t want to be gardening.
The cost of housing and food here in Coronado, Panama is the same as in the US, electricity costs more here than in the US, but you save on everything else you can think of. Here are just a few examples:
- My fully comprehensive car insurance is $500 per year for a new car here in Panama.
- There are no taxes on the houses, which in the US, there is. I still own a home in Florida and I pay nearly $6,000 per year on taxes, but I pay zero here because I have a 10-year tax exemption.
- My home insurance is $7,200 per year in Florida. Here in Coronado, I never really told anybody to insure his or her home. If you want to insure for theft or for flooding, you can, but we there is not much reason to insure your home.
- The cost for my family’s health insurance here in Panama is $286 a month. My healthcare in Florida, when I left in 2008 was just under $1,000 for my family.
In 2008, in Florida, we were lucky to be able to survive on a budget of $4,500 a month but here in Coronado, we could afford the same lifestyle with only $1,500 per month, a full two thirds less.
(Two bedroom, two bathroom home, the "Anton" model in Kevin Painter's Azura development, Rodeo Viejo, four miles from Coronado, Panama, pictured.)
Posted August 4, 2015