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Why Pedasi, Panama Is Only for the Most Selective Buyers

Pedasi, Panama is in the midst of a dynamic transformation. This little-known fishing village on the southeastern tip of the Azuero Peninsula, with a population of roughly 2000, has seen a surge in foreign investment that heralds a period of growth for both expats and investors.

Known for its local festivals, sportfishing, nearby pristine beaches, and natural beauty, it is also the home of Panama’s first female president, Mireya Moscoso Rodríguez de Arias. She has been instrumental in improving Pedasi’s infrastructure and making the real estate market more attractive for foreigners seeking to build new homes and invest in the region’s growth.

Pedasi, Panama

Zanzabar Photography

Pedasi, Panama – Historical and Cultural Heartland

The Azuero Peninsula was settled over 11,000 years ago and remnants of this pre-Columbian culture are still evident today. Pedasi, like other small towns in the area, tracse its cultural roots to this ancient civilization.

It was in 1671 that Pedasi and Las Tablas (a community just north of Pedasi) were formally established. Local history holds that the area became a choice for settlers after major fires in Old Panama City during the latter 16th century drove people to find safer locations. The region still has many colonial churches that reflect the beauty and richness of their Spanish heritage.

The waters around the peninsula have become known as Panama’s Tuna Coast. The abundance of yellowfin tuna, marlin, sailfish, and snapper in the area offer excellent year-round fishing. Restaurants in Pedasi will actually cook your edible catch to taste, something that you won’t find elsewhere in the region.

Playa Venao – Panama’s Surfing Destination

Just a short distance from Pedasi, Playa Venao has become one of the world’s premier surfing destinations. Recently, it hosted the DaKine ISA World Junior Surfing Championship and has become a favorite with wave riders from all over the globe. With the laid-back vibe, beach bars, and nightlife you’d expect from a surf-oriented town, Playa Venao can be a gateway to your own “endless summer.”

Come for Carnival, the Big Party in Pedasi

With over 500 celebrations and religious festivals each year, there is always something going on in and around Pedasi. Perhaps no festival has gotten as much attention as the Desfile de las Mil Polleras – the Thousand Pollera Parade.  This is part of the larger regional Festival Nacional de la Pollera, based in Las Tablas in July.

The pollera is considered one of the most beautiful national costumes in Latin America. Consisting of a two-tiered skirt and a blouse, these elaborate garments have come to symbolize Panamanian culture at its finest.

Associated with Carnival, four days before Ash Wednesday, La Pollera is celebrated in full glory. The rich materials, brilliant colors and accessories (Tembleques) have become a centerpiece for Panamanian and Pedasi culture.

Isla Iguana and Cerro Hoya

Isla Iguana and the lesser known Cerro Hoya Nature Park are two locations where expats can get “up close and personal” with a wide selection of wildlife not found elsewhere in Panama. Five species of sea turtles, buffalos, sloths, monkeys, and even the occasional jaguar or ocelot can make visiting these natural preserves a once in a lifetime event.

pedasi, panama

Jason Cserny

Buying in Pedasi

The recent uptick in buying real estate in and around Pedasi has dramatically influenced property prices, even for undeveloped lots. With a number of luxury projects planned, it is not surprising that may foreign investors are pouring large amounts of money into the area.

For the single buyer, trying to make sense of the pricing can be both confusing and frustrating. It is necessary to look, not only what the value of your property might be, but also what the realistic value (and price) of the land you are interested in is in its current state.

Pedasi’s Market Stage Is Important

With all the potential that exists for investment and development in Pedasi, the Azuero Peninsula, and Panama in general, it is important to understand exactly at what stage the market is in terms of the prices that are being asked.

Think of a “market stage” as a description of where an expat location is in terms of land development. The price of property starts with its value to local residents and increases all the way to a full scale town complete with amenities.

Being able to identify what “stage” a particular area might be in can help you decide what to buy, what to build and, most importantly, what you should pay. As in any real estate market, prices are not always reflective of the value of a parcel of land in its current state. Remember that speculation on what property may be worth in the future might not support the price being asked today.

Being Selective Can Pay Dividends

The number of foreign investors buying large plots of land in Pedasi has increased dramatically in the last decade. The prices that many of these developers are asking are often in the “stage four” (established expat community level) range when, in truth, the area is only at a “stage two” or “stage three” level.

The remoteness and unsullied nature of Pedasi is both its biggest drawing card and major drawback. Being able to get building materials, and modern infrastructure amenities can be a challenge for investors who are working with a limited budget.

By being selective, you can maximize your potential in terms of finding property that is priced realistically. With the promise of a strong return on investment, Pedasi may just be the hidden tropical getaway you’ve been looking for

So What Are You Waiting for?

The best way to experience Pedasi is to go there. Plan a visit and see what this growing village has to offer; you won’t be disappointed.

Map of Pedasi, Panama

Pedasi, Panama Fast Facts

  • Population: 2,000+
  • Typical temperature: 86 Fahrenheit
  • Nearest airport with U.S. flights: Tocumen International Airport (Panama City, Panama)
  • Nearest U.S. consulate: Panama City, Panama

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