Cost of Living: Panama vs Singapore

Detailed comparison of living costs and expenses between Panama and Singapore.

Data updated: September 2026

Quick Comparison Summary

In simple terms, living in Panama is 70.0% cheaper than Singapore. The biggest difference is in Property Prices, where costs are 90.4% lower. This means that for every $100 you spend in Singapore, you would spend about $30 in Panama for the same standard of living.

Key Differences

Property Prices 90.4%

Panama is 90.4% cheaper

Transportation 84.6%

Panama is 84.6% cheaper

Salaries And Financing 80.0%

Panama is 80.0% cheaper

Cost of Living Index

Overall Difference 70.0%

Panama is 70.0% cheaper than Singapore

Most Expensive Categories

  • Mobile and Internet +38.7%

Is Panama cheaper than Singapore?

Yes, Panama is cheaper than Singapore

Overall, living costs in Panama are 70.0% lower than in Singapore.

Where Panama is cheaper:

  • Property Prices 90.4% cheaper
  • Transportation 84.6% cheaper
  • Salaries And Financing 80.0% cheaper

Where Panama is more expensive:

  • Mobile and Internet 38.7% more expensive

Practical Examples

1-bedroom apartment in city center

Panama: 914.84 $ Singapore: 3,140.74 $
70.9% cheaper in Panama

Monthly public transport pass

Panama: 25.00 $ Singapore: 93.46 $
73.3% cheaper in Panama

1 liter of milk

Panama: 1.81 $ Singapore: 3.01 $
39.9% cheaper in Panama

1 liter of gasoline

Panama: 0.93 $ Singapore: 2.22 $
58.1% cheaper in Panama

Summary

Based on comprehensive cost of living data, Panama is indeed cheaper than Singapore. You would save approximately 70.0% on living expenses by choosing Panama over Singapore. This includes all major expense categories such as housing, food, transportation, and utilities.

Overall Cost of Living Comparison

70.0%

Panama is 70.0% cheaper than Singapore

Restaurants

25.1%

Panama is 25.1% cheaper than Singapore in this category

Markets

53.5%

Panama is 53.5% cheaper than Singapore in this category

Other Expenses

54.6%

Panama is 54.6% cheaper than Singapore in this category

Transportation

84.6%

Panama is 84.6% cheaper than Singapore in this category

Household Utilities

31.1%

Panama is 31.1% cheaper than Singapore in this category

Mobile and Internet

38.7%

Panama is 38.7% more expensive than Singapore in this category

Sports And Leisure

32.0%

Panama is 32.0% cheaper than Singapore in this category

Childcare

65.0%

Panama is 65.0% cheaper than Singapore in this category

Clothing And Shoes

20.2%

Panama is 20.2% cheaper than Singapore in this category

Rent Per Month

69.0%

Panama is 69.0% cheaper than Singapore in this category

Property Prices

90.4%

Panama is 90.4% cheaper than Singapore in this category

Salaries And Financing

80.0%

Panama is 80.0% cheaper than Singapore in this category

Detailed Cost Comparison

Item Panama Singapore Difference
Basic Restaurant Meal 10.00 $ 10.90 $ 8.3%
Panama is 8.3% cheaper
Three-Course Dinner for Two in Mid Range Restaurant 50.00 $ 77.88 $ 35.8%
Panama is 35.8% cheaper
McDonald's Fast Food Combo Meal 7.49 $ 7.79 $ 3.9%
Panama is 3.9% cheaper
Regular Cappuccino 3.47 $ 4.88 $ 28.9%
Panama is 28.9% cheaper
Soft Drink (330ml) 1.48 $ 1.68 $ 11.9%
Panama is 11.9% cheaper
Bottled Water (330ml) 1.22 $ 1.22 $ 0.0%
Panama is 0.0% more expensive
Bottled Water (1.5L) 1.56 $ 1.52 $ 2.6%
Panama is 2.6% more expensive
Local Beer (500ml) 4.55 $ 2.00 $ 127.5%
Panama is 127.5% more expensive
Imported Beer (330ml) 1.80 $ 2.49 $ 27.7%
Panama is 27.7% cheaper
Mid-Range Wine 7.97 $ 10.00 $ 20.3%
Panama is 20.3% cheaper
Local Beer (500ml bottle) 2.22 $ 2.21 $ 0.5%
Panama is 0.5% more expensive
Milk (1L) 1.81 $ 3.01 $ 39.9%
Panama is 39.9% cheaper
Fresh Bread (500g) 2.44 $ 2.35 $ 3.8%
Panama is 3.8% more expensive
White Rice (1kg) 2.30 $ 2.92 $ 21.2%
Panama is 21.2% cheaper
Eggs (12 pack) 2.67 $ 3.35 $ 20.3%
Panama is 20.3% cheaper
Local Cheese (1kg) 11.70 $ 19.37 $ 39.6%
Panama is 39.6% cheaper
Chicken Breast (1kg) 7.26 $ 11.15 $ 34.9%
Panama is 34.9% cheaper
Beef (1kg) 9.17 $ 15.21 $ 39.7%
Panama is 39.7% cheaper
Apples (1kg) 4.04 $ 4.57 $ 11.6%
Panama is 11.6% cheaper
Bananas (1kg) 1.32 $ 2.97 $ 55.6%
Panama is 55.6% cheaper
Oranges (1kg) 2.81 $ 4.51 $ 37.7%
Panama is 37.7% cheaper
Tomatoes (1kg) 2.93 $ 2.71 $ 8.1%
Panama is 8.1% more expensive
Potatoes (1kg) 2.10 $ 2.39 $ 12.1%
Panama is 12.1% cheaper
Onions (1kg) 2.31 $ 2.20 $ 5.0%
Panama is 5.0% more expensive
Lettuce (1 head) 2.08 $ 1.86 $ 11.8%
Panama is 11.8% more expensive
Monthly Transit Pass 25.00 $ 93.46 $ 73.3%
Panama is 73.3% cheaper
Cigarettes (20 pack) 5.92 $ 13.05 $ 54.6%
Panama is 54.6% cheaper
Single Bus/Train Ticket 0.55 $ 1.56 $ 64.7%
Panama is 64.7% cheaper
Taxi Base Fare 2.00 $ 3.58 $ 44.1%
Panama is 44.1% cheaper
Taxi per Kilometer 2.00 $ 0.78 $ 156.4%
Panama is 156.4% more expensive
Taxi Waiting Hourly Rate 21.00 $ 16.28 $ 29.0%
Panama is 29.0% more expensive
Gasoline (1L) 0.93 $ 2.22 $ 58.1%
Panama is 58.1% cheaper
New Economy Car 20,000.00 $ 140,192.38 $ 85.7%
Panama is 85.7% cheaper
New Mid-Range Car 21,464.58 $ 128,887.54 $ 83.3%
Panama is 83.3% cheaper
Monthly Utilities (80m² size) 109.00 $ 158.22 $ 31.1%
Panama is 31.1% cheaper
10 GB Mobile Plan with Data 29.47 $ 18.54 $ 59.0%
Panama is 59.0% more expensive
High-Speed Internet (> 60 Mbps) 48.89 $ 37.95 $ 28.8%
Panama is 28.8% more expensive
Gym Membership 52.30 $ 115.77 $ 54.8%
Panama is 54.8% cheaper
Tennis Court (Weekend) 35.71 $ 12.22 $ 192.2%
Panama is 192.2% more expensive
Movie Ticket 7.00 $ 11.68 $ 40.1%
Panama is 40.1% cheaper
Private Preschool (Full Day) 446.67 $ 1,272.43 $ 64.9%
Panama is 64.9% cheaper
International School (Yearly) 10,425.00 $ 29,780.50 $ 65.0%
Panama is 65.0% cheaper
1 Pair of Jeans 48.21 $ 80.91 $ 40.4%
Panama is 40.4% cheaper
1 Summer Dress 41.15 $ 42.93 $ 4.1%
Panama is 4.1% cheaper
1 Pair of Running Shoes 83.67 $ 105.33 $ 20.6%
Panama is 20.6% cheaper
1 Pair of Business Shoes 110.45 $ 126.28 $ 12.5%
Panama is 12.5% cheaper
1-Bedroom Apartment (City Center) 914.84 $ 3,140.74 $ 70.9%
Panama is 70.9% cheaper
1-Bedroom Apartment (Suburbs) 698.62 $ 2,267.71 $ 69.2%
Panama is 69.2% cheaper
3-Bedroom Apartment (City Center) 1,778.87 $ 6,205.41 $ 71.3%
Panama is 71.3% cheaper
3-Bedroom Apartment (Suburbs) 1,355.77 $ 3,723.55 $ 63.6%
Panama is 63.6% cheaper
Apartment Price (City Center) per m² 2,080.50 $ 22,697.92 $ 90.8%
Panama is 90.8% cheaper
Apartment Price (Suburbs) per m² 1,545.31 $ 15,076.91 $ 89.8%
Panama is 89.8% cheaper
Average Monthly Salary (after tax) 826.28 $ 4,151.48 $ 80.1%
Panama is 80.1% cheaper
20-Year Fixed Mortgage Rate 6.30 3.17 98.7%
Panama is 98.7% more expensive

Cost of Living Calculator

Calculate how your current expenses would change if you moved to Singapore. Enter your monthly expenses in Panama to see the equivalent costs.

Housing

Food & Dining

Transportation

Other Expenses

Our Methodology

Our cost of living comparisons are based on a robust methodology that combines multiple data sources and regular updates to ensure accuracy:

Data Collection

  • Regular price surveys conducted in major cities
  • Official government statistics and economic indicators
  • User-contributed data from expatriates and local residents
  • Real estate market reports and rental price indices
  • Consumer price indices and inflation data

Calculation Methods

  • Prices are normalized to USD for consistent comparison
  • Exchange rates are updated monthly
  • Regional price variations are weighted by population
  • Seasonal fluctuations are accounted for in the averages
  • Quality of life factors are considered in the overall assessment

Quality Assurance

  • Data is verified by local experts
  • Regular cross-checking with multiple sources
  • User feedback is incorporated into updates
  • Statistical outliers are identified and reviewed
  • Methodology is reviewed quarterly

Note: While we strive for accuracy, cost of living data can vary significantly within countries and cities. These comparisons should be used as a general guide, and we recommend conducting additional research for specific locations.

Lifestyle Impact

Understanding the cost of living differences between Panama and Singapore goes beyond just numbers. Here's how these differences might affect your daily life:

Daily Living

  • Grocery shopping habits and meal planning
  • Public transportation usage vs. car ownership
  • Frequency of dining out and entertainment
  • Healthcare access and insurance coverage
  • Housing choices and neighborhood selection

Long-term Planning

  • Savings and investment strategies
  • Retirement planning considerations
  • Education costs for children
  • Property ownership opportunities
  • Business and career development

Quality of Life Considerations

While cost of living is important, it's just one aspect of quality of life. Consider also:

  • Healthcare system quality and accessibility
  • Education system standards
  • Public safety and security
  • Environmental quality
  • Cultural and recreational opportunities
  • Work-life balance norms

Making the Most of Your Budget

Tips for adapting to cost of living differences:

  • Research local shopping habits and markets
  • Learn about public transportation options
  • Understand local tax systems and benefits
  • Explore community resources and discounts
  • Network with locals for insider tips

Local Insights for Panama vs Singapore

While both countries have similar overall costs, there are nuanced differences in how money is spent on daily necessities.

Cultural Cost Differences

Panama

Singapore

  • Lower grocery costs suggest different shopping and consumption patterns.
  • Lower fuel costs indicate different transportation infrastructure.

Seasonal Cost Variations

Both countries experience moderate seasonal variations in living costs, with prices typically higher during peak tourist seasons and major holidays.

Explore more

Cost of living in Panama Cost of living in Singapore

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