If you are visiting this site, you have either never been to Panama or maybe you're just returning from a trip to Panama. Maybe you even live here! Either way, we've been in this country for some time now and would like to share a bit about what life is REALLY like here in the Isthmus.
Like any big city, we have a number of great shopping malls, grocery stores, furntiure outlets, etc. And just like home, there are the cheap places and there are the expensive places! If you're moving to Panama, one of the reasons you may have been drawn here in the first place is the cost of living. Granted, costs have been catching up with the rest of the world down here in Panama, however there are still some great deals to be had. You just have to know what the locals know!
Here at Panama Equity, our customers are clients for life. We believe in providing the service of information: what neighborhoods have the best schools, which developers have the best reputation around town, what banks have the best customer service...You get the idea! Well, it doesnt end there. We want to also be a continuing source of information on any aspect of your life in Panama, including things like
-The best Italian restaurant in Panama ( Pomodoro on Via Veneto tops OUR list ) -The phone number of a fantastic auto mechanic ( Hands down, Alvaro. 6438-8000 ) -The phone number of a fantastic plumber ( Marshal will take care of you, day or night: 6652-6129 ) -The best beach only an hour from the City ( Playa La Angosta, Colon ) -The cheapest lunch in town ( Tip Top Liquor, one block from Brazil and Via Espana ) -The best margarita ( Cafe Ole )
Sure, it's all subjective, but hey, we've been here for a while so odd's are we've got an answer for what you're looking for. Have a look around the site and let us know if there's anything specific you're looking for.
The following is the process that you need to follow to pay your land tax in Panama. This is a new tax that, albeit small, is now required of all owners of property in Panama. Thanks to Fred for providing his experience on how to pay this land tax.
First, you'll need to go to the MEF building, or Ministerio de Economia y Finanzas (right behind the Alcaldia on Avenida Cuba) with your deed, go to the "Atencion a los Contribuyentes" line, an employee will tell you then how much you owe and will give you your RUC number. You then go to any Banco Nacional (no other banks will accept payment), fill out a "boleta multiple de pago de tributos" that they have there, and pay what you owe on the land tax.
The new tax land tax is 1% of the land value assigned to your apartment, in my case it was US$79 per year.
When you are at the MEF, you might also want to go to the 3rd floor (segundo piso aqui) and ask for a NIT number, which will allow you to access your account online and make payments in the future.
Weather you’re driving around town trying to find the best deal on appliances or looking for a couch with just the right shape and color- Panama’s modern and varied shops are sure to surprise you. Much like any big city, Panama’s shops offer a wide variety: from the ultra chic to the bargain basement!
In the shopping in Panama section, we try to provide an insight for those that need a quick overview.
Electronics Stores
If you’re looking for small and medium sized electronics, you will have lots of great locations to choose from! Major chains such as Panafoto, Audiofoto, and Multimax are located throughout the country, but sometimes
One of the biggest reasons folks come to Panama is for the reduced cost of medical care. Real Estate in Panama is getting more and more expensive compared to distressed markets like Florida and California, but try to get your teeth cleaned for under $100 anywhere in the USA. Impossible! It'll cost you about $35.00 here in Panama.
For more expensive procedures, it's always recommendable to have good insurance coverage, and there's no better place to get insurance than from Kevin Bradley. This town is FULL of happy clients of Kevin's, and we here at Panama Equity are on that list. The team over at Ducret has never let us down. Their service is great, their rates are reasonable, and their coverage includes all of the top hospitals in Panama.
Kevin Bradley is our go-to guy for insurance in Panama. Make sure to visit his site at http://www.panamakevin.com/
The city of Panama has a number of modern super market chains as well as a number of small independent grocers and farmers markets. Here you can find lots of fresh meat, produce, seafood, and dry goods, including brands from all over the world. There are specialty supermarkets in Panama including a handful of Kosher grocery stores, a fantastic seafood market in Casco Viejo, and a number of great local produce markets where you can pick up fresh Panamanian herbs, fruits, veggies, and flowers.
The Big Three Super Markets in Panama
Riba Smith
Riba Smith is a favorite supermarket in Panama for expats and Panamanians alike. This grocery store chain features brands from all over the world, some of which are sold exclusively in Riba Smith. They have an excellent deli with prepared foods, and a cafeteria with fresh food prepared daily in all of their locations.
Riba Smith Panama has a diverse selection of cheeses, exotic fruits and vegetables, and a number of American and International brands- things like salad dressings, seasoning packets, and sauces from around the world and only available at Riba Smith. Their wine selection is better than average, and they have an excellent bakery featuring local breads, pizzas, and crackers. Most locations also have a full pharmacy.
Riba Smith has supermarket locations in Bella Vista, Transismica, Multi Plaza, and Costa del Este. One other interesting thing about this particular super market in Panama is that they are experimenting with shopping. Riba Smith also offers delivery.
Overall, Riba Smith tends to be the most expensive super market chain in Panama, however I have found that the shelf life of their vegetables tends to be a bit longer than other grocery store in Panama. They also have a great selection of health food and specialty diet options like Gluten Free, low sugar, and Kosher.
El Rey
American style super market chain in Panama. El Rey has everything you would look for in a supermarket: well lit, clean, reasonable prices, and they usually keep a good stock of items. They also have a good beer, wine, and liquor selection. Most of the El Rey’s have a deli with premade foods such as rotisserie chicken, sandwiches, prepared salads, etc. I personally love their Greek salad, and their empanadas are pretty tasty too.
El Rey is similar in price to the big three super market chains here in Panama ( Riba Smith and Super 99 ) and they have a very nice health food section for specialty diets including Gluten free, diabetic, and low salt/sugar options. You can find El Rey locations all over the country, including EL Cangrejo on Via Espana, El Dorado, Albrook, Coronado, David, and really all over the country. The El Rey also offers a card where shoppers can acquire points towards prizes.
Super 99
Super 99 rounds out the big three list of grocery stores in Panama. They have more locations than El Rey, including in the suburbs outside of the city center. Rumor has it that the newest super market in Coronado is going to be a super 99, which is great news for residents! The Super 99 supermarket in Punta Pacifica is super nice, and they’ve got a great selection for toys next to their main grocery store. Prices are competitive with the other big three supermarket chains, availability is usually good, and the store is always very clean.
Specialty markets in Panama
Super Gourmet
One of my favorite small grocery stores ( not really a super market ) in all of Panama is Super Gourmet! Make sure to visit the one in Casco Viejo, which features wonderful prepared foods, imported beers and fantastic baked goods. Newly added chocolate filled croissants are worth the drive from anywhere in Panama!!.
They also have a small super market in Bocas del Toro. There are other versions of this small little super market in Panama, including Deli Gourmet and Super Deli Gourmet located on Calle 50 and Samuel Luis respectively, but the best one is in Casco Viejo. If you live in San Francisco or Obarrio, make sure to check out Deli Gourmet or Super Deli Gourmet, both of which feature high end meats and cheeses as well as an exquisite wine selection.
Just visited the location on Calle 50 across from the El Rey supermarket and i would have to say that they have, hands down, the best salad bar I’ve seen in Panama yet. At $8.50/pound it aint cheap, but the selection was fabulous and went very well with one of their fresh made soups.
Produce and Farmers Markets in Panama
There are a handful of farmer’s markets in Panama, the largest of which is in Calidonia, across the street from Ancon hill on the way to Albrook. It is called Mercado de Abastos. To get there, the easiest way is to take Via Espana all the way to the end, take a right and then take your first right about .5km up the road. You cant really tell what it is, because there are a few non-descript store fronts, but go through the guard station and you’ll be blown away. This is mostly set up for wholesale shoppers, but it’s a fun experience. You can find everything from beans and grains to herbs, fruits, vegetables, and prepared food, Fonda-style.
Shelf life can be an issue for things like carrots and celery, but for the most part the produce is very fresh and tasty at any of Panama's farmers markets. You can save a lot of money on things like onions, pineapples, avocadoes, mangos, peppers, and fresh herbs like cilantro and scallions if you shop at any of the Panama farmers markets . There are other farmers markets scattered throughout the city, including Rio Abajo, Calidonia, Casco Viejo, and 12 de Octubre. Best place to buy fresh flowers is, hands down, the farmers market in Calidonia at the end of Via Espana ( not the one mentioned above ). It’s on the left hand side in front of a casino, and you can see the flowers on the road. They also sell things like fresh eucalyptus and medicinal herbs much cheaper than a grocery store.
Mercado de Mariscos, Panama
We have an excellent seafood market here in Panama- amazing selection, very fresh, and they have a nice little restaurant upstairs where you can eat the fish you just brought. Make sure to try their ceviche and the Panamanian special which is Corvina frita con patacones ( fried corvina with plantains ). Delicious, cheap, and as fresh as it gets!
Price Mart
Bulk food supermarket in Panama. Several locations including Los Pueblos, El Dorado, Avenida Brasil, and David. Sometimes its easy to justify buying a 5 gallon drum of mayonnaise because you may save $1.00, but I’ve found that sometimes the Pricemart doesn’t necessarily offer the best deals. Granted, they have a few items that other supermarkets in Panama don’t have, including 5lb bag of frozen strawberries, Land-o-Lakes turkey cold cuts, 2lb blocks of Sharp cheddar, and a handful of other bulk items that you can save some money buying. Membership is right around $30.00/year and I would say it’s worth it.
One of the biggest reasons folks come to Panama is for the reduced cost of medical care. Real Estate in Panama is getting more and more expensive compared to distressed markets like Florida and California, but try to get your teeth cleaned for under $100 anywhere in the USA. Impossible! It'll cost you about $35.00 here in Panama.