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A note regarding cost of living in Panama: The October 7, 2008 Wall Street Journal on line notes that US home owners can expect to pay more for their heating bill this coming winter. I am looking for my Panama heating bill for comparison.

Oh, that’s right, I do not have to pay to heat my home in Panama!

Heating Your Home in Panama

The October 7, 2008 Wall Street Journal on line notes that US home owners can expect to pay more for their heating bill this coming winter. The Journal quotes department of Energy figures and estimates that home owners will pay an average of $1,137 to heat their homes from October 1, 2008 to March 31, 2009. The journal goes on to say, “The forecast comes at a difficult time for U.S. homeowners, who face rising unemployment, a drop in home values and worries about the nation's economic future as the credit crunch reshapes the financial sector.”

Except for Panama real estate the highlands in places like Boquete, Volcan, or El Valle nights do not become especially cool in Panama. Even in the highlands nighttime lows do not go below the mid fifties, Fahrenheit.

Many older types of real estate, namely spacious houses and apartments in Panama, especially near the Pacific and Caribbean coasts, have wonderful cross ventilation and except for a ceiling fan or two for still days do not need help staying cool. And these examples of Panama real estate do not need heating.

Cost of Living Panama

Despite energy related cost of living increases that have crept into everything including real estate, transportation and food Panama has a lower cost of living than North America or Europe.

Foreign retirees can still live comfortably in Panama, especially with the “jubilado” or retiree discounts on virtually everything. Residency is easy to get and real estate from the highlands to the coasts to Panama City is still low priced compared to the USA, North America, Europe, and the Caribbean Islands.

Cost of Living and Construction Panama

I do not think that “R” value is part of the real estate or building vocabulary here in Panama. Part of what keeps home building costs down here is the simple block construction.

Regarding the other issues mentioned in the journal article, a drop in home values and financial sector credit problems Panama has it better. Then banks here have always been fairly conservative. When a foreign buyer needs to put down more than 30% on real estate in Panama sub prime mortgages do not exist. And, home values are already realistic as opposed to the inflated US housing market. Panama investment seems likely to continue.

If you are interested in real estate in Panama free of heating bills, less expensive home construction free of worry about “R” values, or just want to live in the tropics come to see us at ABPanama. We have over 23 years experience managing real estate portfolios. We would love to help you find your real estate in Panama.