Does anyone know of a remote area in Panama in the high interior where one can retire on $1,022 a month?

Show all answers

wcruzq

Based on what you're saying Panama could very well be an option.

If you're retired then you could apply for a Pensioned Tourist Visa, that comes with a lot of benefits. You could import a car duty free every 2 years, you could bring personal belongings up to $10,000.00 USD duty free (one time only), and you also get discounts on a great number of services (public and private) as a senior citizen.

The requirements are minimal compared to the other immigrant visas in Panama, and the immigration authorities are more easy going with this type of visa.

Now with $1,022.00 USD a month you could do well in Boquete, as another user mentioned. If you act now, you can still get cheap rentals. However, and I will not kid you, the real estate value is increasing rather rapidly, so a lot of properties are up for sale, and that will have a negative effect on the rental market in Boquete.

Last time I was in Boquete I talked to a young women that is paying $150.00 for a 2 bedroom house, so I know you can find something cheap and nice. Since the weather is temperate in Boquete you will have no need of air conditioning, and that will help with your power bill. Phones and Internet are another issue. There are several plans for basic telephone service that may or may not include discounts on international long distance, and some of them are bundled with broadband internet. However you do have to ask if they are available where you plan to rent in Boquete, or else you will have to do with dialup.

Anyways the best thing is to come down here and see if for yourself. There are daily flights in from LA, Houston, Atlanta, Orlando, Miami, Newark, and NYC, so you can pick your closest US city. From Panama City to David you can either take a 6 hour bus ride, or a 1 hour flight on a turboprop aircraft. There are 2 local airlines flying to David, so you have at least 4 daily flights.

Hope that helps!

rivkarut2004

Hi Alan. You should do nicely here. The average Panamanian's salary is $350 a month. As to where to locate, that is getting a bit more tricky. It actually sounds like you would do better in an area where there are fewer Americans since they have a tendency to drive the price up. For that reason I would suggest the areas of Capira and Capana. It has the elevation you want and it's about 30 minutes from an undeveloped beach area. This area of Capira and Capana are mostly farmers.

It's about an hour outside of Panama City, but don't let that bother you, once you leave the city it's looses it's city look very quickly. However, being this close to the city and hospitals can also have it`s advantages.

Finding a rental is another matter. You will have to do that on the ground more than likely.

Here is an article on the cost of living in Panama http://www.panamaexpertos.com/info.php?page=content/cost_of_living

We live in Panama as expats and have been here for a year.

There's lot of good information on the site http://www.panamaexpertos.com/index.php?page=home but if you want to email me with specific questions I'll be glad to reply

Angry Guy

My wife just got back from trip to Honduras and the she said that the average wages are less than 200 dollars a month. You would probably live like a KING! And they are totally trying to encourage tourism. So that means that the are fixing up the nice vacations areas and visitor friendly.

MovetoLatinAmerica

There are many places in Panama you can live well on $1000/mo.

Do you have a down payment to purchase a home or are you planning to rent? If you're planning to rent, then you should also consider Nicaragua and perhaps Honduras. Cost of living is much less in these two countries right now, while land and home values in Costa Rica and Panama are sky rocketing.

If you would like more information, we can be reached by email at:
info@MovetoLatinAmerica.com
Your Real Estate Professionals

homeless

http://www.panamareals.com/whypanama/retirementprogram/ Panama has the best benefit package for expats in Latin America. There is a place called Boquete 45 minutes up the hill from David, Panama, the second largest city in Panama. Boquete is small it is only 45 minutes down the hill to David http://www.panamareals.com/whypanama/retirementprogram/
personally I prefer South America

Da Dave

Panama is a very good place to live, most of the foreigners are buying in Boquete and also renting because of the weather, that city is growing faster.
Here are the options:
Boquete: Has like the other person said, air conditioning weather
Isla Bocas: Close to the top beaches of Panama, you can also take a plane on the city to go there. The prices of the place roundtrip to this areas are $160 aprox.
El Valle: Air conditioning weather, 1 hour and a half of the city, good place too.
VolcÃ¡n: Is located on the other side of Boquete and it is pretty much cheaper, its growing also, it is a good place to buy and rent, because it is cheaper and is getting value, because Boquete is starting getting crowd and expensive. The weather is like air conditioner too.
Cerro Punta: About 20 minutes of Volcan, but is much colder.
On the city: The best place of the city is El Cangrejo, it is close to anything, you can even walk and there are some good places to rent with low noise and comfortable for you with that money per month.

I think that Panama is a good choice for you.
If you need more info you can contact: segurosstudio@yahoo.it

spiagagirla

I'm from Panama and I live in Pma, so I can tell you with most certainty that with $1,022, you are gonna be able to live very well in any part of Panama, it just depends on how much you spent en leisure activities. Personally, my family owns a house in the region of "El Valle" (the valley); it's located on the Cocle providence. It's a beautiful town, with a lot of history, excelent weather, and it's only 1h and half from the city. I hope this information helps, feel free to ask me questions.

Enter Your Message or Comment

User Name:
User Email:
Post a comment: