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  • Writer's pictureYuka

Cost of Living in Pedasi, Panama <Part 1>

Updated: Oct 17, 2023

This question is one of the most important questions when you move to a new place. For some people, Panama is such an unknown place. But once you get to know Panama, you will fall in love with this beautiful country. First and foremost, Panama's official currency is the BALBOA(PAB) but we use the US dollar in Panama. The exchange rate for the balboa has always been tied to the US dollar. One US dollar equals one balboa. Sometimes you see PAB or B on the price tag but they mean the same thing and have the same value. Although we use Panamanian coins. Panamanian coins are the same size as US coins and they come in 1, 5, 10, 25, and 50-cent pieces. Now let's get into the cost of living in Panama. We live in a town called Pedasi so I am going to focus on our cost of living based on this location. Pedasi is 5 hours away from Panama City by car, it is a nice community of local Panamanians and Expats. f you need furniture or some electronics, you can always drive to Chitre. Only 1 hour drive from Pedasi. Or you can order through Amazon and deliver it to your home. See this video for How to order on Amazon in Panama. The price of Gas is a key factor. Based on the Global Petrol Prices website. Here is the data as of October 9th, 2023. See this website for reference. https://www.globalpetrolprices.com/

Fuels, price per litre

(litre, U.S. Dollar)

Canada

USA

Panama

Gasoline Prices

1.298

1.047

1.162

Diesel Prices

1.394

1.188

1.099


This photo was taken on October 13th, 2023 in Pedasi. Regular 1.058/L, Super 1.131/L, Diesel 1.104/L. There are 3 gas stands in Pedasi. 1 is self-service and 2 are full service.

The price of houses In Pedasi, Panama varies depending on the area. If you like the ocean view or beachfront, you will be paying around 1 million dollars or more. Houses in town are around $100,000 to $300,000 depending on the condition or style of the house. If you want to be just outside of the town with larger and nicer houses, the average price would be around $300,000 to $400,000. If you want to build a new house with some acreage, you will be paying about the same. You can check our listings here to compare prices.

You can buy this beautiful ocean-view house with 5 bedrooms and a swimming pool with almost an acre property with all furniture and Honda ATV and a boat. For the same price in Canada, you can buy a townhouse in Oakville, Ontario...

Due to the currency exchange, it may not be as affordable as it seems for Canadians but still, there are a lot of deals in Panama and we are here to help you find your dream home in Panama within your budget.




The cost of Food in Panama is affordable if you eat locally grown food. Such as root vegetables, rice, chicken, and beans. If you only want to eat imported food, it could get expensive. Essential foods such as milk, eggs, grains, veggies, fruits, and meat are affordable. During Mango season, you can buy a bag full of mangoes for $5 or your neighbors will give you. I made this video of local stores in Pedasi. You can see the prices and what you can buy in Town. The cost of bread, eggs, ice cream, beer and so on...


In conclusion, not everything is cheap in Panama. If you have a limited budget, it is good to know what to expect. Although Pedasi is expanding. We are getting better roads, and better internet and better services. People in Pedasi are very friendly in general. If you come here with a positive attitude, this place is a paradise. If you keep comparing here to back home, you will regret your choice. I will be making "Cost of Living In Panama Part 2" soon and will explain other costs such as insurance, medical, schools as such. I hope this article was useful to you. You can always reach us to ask questions.


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