Casco Viejo is a very popular neighborhood in Panama City, not only amongst the locals but also for tourists. Since it is close to fun activities such as the Panama Canal, the Cinta Costera, and the city’s modern district, Casco Viejo, Panama, is a sought-after destination.
Since the buildings are so old, it is constantly being refurbished, and there are so many things to do, the cost of living in Casco Viejo is a little more expensive than other areas in Panama City and Panama.
However, it is still not as expensive as some of the more luxurious parts of Panama.
A single person living in Casco Viejo can most likely expect to pay at least US$1,000 per month. A family of four would end up paying somewhere around US$2,500 or US$3,000 per month.
Your main monthly expenses will include rent, utilities, and groceries. Since you will be living in Casco Viejo, you can expect to pay a reasonable amount on entertainment and nightlife.
But, if you are looking to buy real estate in Casco Viejo, it can get pricey. Current real estate prices in Casco Viejo range from around US$200,000 to upwards of US$1 million.
Just looking to rent and enjoy life in the neighborhood? Then prices get more reasonable. A single person would be able to find a place between US$900 to US$1,500 per month.
A family of four would end up paying more for something bigger than one bedroom, with an expected range of US$1,500 to US$2,500.
Monthly expenses with basic utilities (gas, electric, water, etc.) will set you back around US$100 per month.
Utilities
You’ll find plenty of great options for internet in Panama (Tigo, Cable & Wireless, etc.). But, be sure to do your research before choosing your provider.
Most importantly, a good internet plan will cost US$50 per month.
The last main monthly expense is groceries. You can find a great selection of groceries in Casco Viejo. However, you’ll probably want to drive to bigger grocery stores in Panama City.
A single person can get by on US$200 to US$300 per month for groceries. A family of four would end up paying anywhere between US$100 to US$200 per month.
Keep in mind that you are in Casco Viejo, Panama, so budget for monthly entertainment. There are amazing restaurants, both for local delicacies and international gastronomy.
Costs vary and go from US$10 to US$30 per person for a meal. Also, you can find cheaper more local places that are great to try.
Overall, the cost of living in Casco Viejo is higher than other places in Panama, but still extremely affordable on a budget.
Although a night out can cost anywhere from US$20 to US$100, you would be living in one of the trendiest and more interesting neighborhoods of Panama City.