Thread: Is Panama getting too expensive?

I have been looking at real estate online and it seems like Panama is WAAAY more expensive than it was before the Canal handoff in 1999. I rarely see even apartments under 100k. Are there still good deals in Panama on Real Estate? It just seems crazy to me that housing is so expensive when the minimum wage is around $400 per month.

City is expensive, especially since 1999. Interior is a bargain.

just a couple of things , first ,real estate went way up in north america since 1999 , until the bubble burst , so expect it to also be more here , another thing , panama is not a real poor country , there is lots of money here , yes there are poor people ,just like everywhere but if you look at the cars being driven here you will understand , and last , dont look for a deal if it is listed online , you need to be here talking with the locals if you are looking for the real price , , so jump on the plane and make a holiday of it , we are in the dry season ,so it is a good time to visit

I was pretty much like you too, shock on the prices on condos and homes in the city. I am keeping my fingers crossed that there are still plenty of deals in the interior.

Panama is kind of like 2 different countries. At least to me. Panama City and the Rest of the country. If you are a city person, then the cost of living in Panama City is what you need to look into. I consider the city to be expensive. If you like country living, than the interior could be to your liking. I am from Florida and the interior reminds me of what it was like in Florida in the 60's and early 70's. Except I believe that Panama is prettier with the mountain views etc. If you like simple living then the interior is very economical. If you wish to bring your modern lifestyle and your modern NAmericano tastes with you I would say that the interior would not be such a good bargain.

Originally Posted by elduko

I have been looking at real estate online and it seems like Panama is WAAAY more expensive than it was before the Canal handoff in 1999. I rarely see even apartments under 100k. Are there still good deals in Panama on Real Estate? It just seems crazy to me that housing is so expensive when the minimum wage is around $400 per month.

Real estate prices in the city are insane! Almost as high in Europe (and i dont mean eastern europe). On the other hand nothing is being sold, so should come down eventually, although the opinions about that arent all in agreement.

Originally Posted by janl

Real estate prices in the city are insane! Almost as high in Europe (and i dont mean eastern europe). On the other hand nothing is being sold, so should come down eventually, although the opinions about that arent all in agreement.

Real estate prices in Panama does make for some interesting conversations.