Panama has been a major player on the overseas retirement scene for a few decades. With its top notch infrastructure, incredible natural beauty, and attractive visa options, it’s a natural standout.
But with so much media attention and renewed interest in the area, it’s also become quite pricey. In many cases, the price of real estate and consumer goods rivals or even exceeds that of other trailblazing destinations in the region like Mexico and Costa Rica.
Emerging Terrains
Panama’s Last Accessible Frontier
However, before you rule out Panama in your search for the perfect expat destination, there’s one other place I think you should consider.
It’s an otherworldly landscape that’s still relatively accessible (and becoming more so with each passing month). It’s perfect for those who love nature, adventure, and the incredible Pacific Ocean with all it has to offer.
And, though this area is definitely poised for some serious growth in the coming years, at present it’s still one of those places where you can score those rock-bottom real estate deals that you thought didn’t really exist anymore in Panama.
Are you dying to know what this top secret destination is? Well, I won’t keep you waiting any longer.
It’s Burica, Panama.
Getting There Is Half the Adventure
Burica, Panama, is only a two hour drive from David. However, those two hours of travel aren’t your usual winding journey along the coast or through the countryside. In fact, when we first started our Playa Burica project, there wasn’t even a road that would take you to the end of the Burica Peninsula where the town is located.
Since the dense jungles that cover the peninsula extended all the way to the water’s edge, residents had to drive directly on the beach (which was only possible at low tide) to even be able to access the Burica community.
The government has now put in a road that allows access to the entire peninsula, but it’s still a rough ride. Rest assured, though, what awaits you at the end of that bumpy road is well worth your effort.
Thomas Richman
What Awaits You at the End of the Road
After bouncing along over a few miles of rocks and ruts, you’ll step out of your vehicle to some of the most amazing views in the tropics. Waves crash on the jagged volcanic reef that extends, in some places, as much as 200 meters out into the sea.
The reef, combined with the peninsula’s exposure to southern swells, allow for great surfing conditions. There are a number of secret surf spots in the area, which the locals guard with their life.
The deep-sea fishing off the coast of Burica is incredible, with many world record tuna, wahoo, black marlin, and dorado having been caught in those waters. One fishing lodge has already opened in Burica, and I’m certain others will follow.
The landscape is lush with tropical flora and fauna, and the beach is lined with towering palms inhabited by howler and capuchin monkeys, as well as the endangered red-backed squirrel monkey which is unique to the region. A look back inland affords views of Volcan Baru, Panama’s highest peak.
During low tide even more of the reef is exposed, which makes for an incredible moonscape. And, up until a few years ago, all of this wonder was virtually unknown to anyone except the locals.
Yes, You Actually Can Afford All of That
The amazing natural surroundings and opportunities for adventure that I just described could just as well have been excerpted from the listing for some exclusive resort property with an astronomical asking price.
But the prices in Burica, Panama, are far from excessive.
Because the area has only recently begun to draw attention from investors and developers like us, and because there’s little in the way of infrastructure or amenities, real estate prices are still relatively low. As such, there are some bargains to be had.
Playa Burica property in Panama
More Good News about the Value of Property in Burica
The area is in the second of the five stages of development we’ve identified for tropical destinations. That means it’s currently most attractive to large-scale developers who are buying large tracts of land as investments.
What that means is that, as more and more developers buy property in the Burica area, everyone else’s property value gets an automatic boost with little to no effort whatsoever. And every new development that gets built is going to have to include more and better amenities in order to keep up with the market.
It’s a win-win for property owners who get in during the early stages! It might be too late to be the first on the scene, but there’s still plenty of room for improvements that are going to make property values take off in Burica.
Emerging Terrains
Even Better News about Real Estate in Burica
So, buying real estate at rock-bottom prices is good. Seeing nearby developments inadvertently up the value of your property is great. Having the government invest in infrastructure that greatly increases access to your land is even better.
And that’s exactly what’s happening in Burica.
We’ve already seen what happened to property values when the new road gave access to the end of the peninsula for the first time ever. Well, also in the works is a new 4-lane road from Paso Canoas, on the Costa Rican border, to Puerto Armuelles, which is the last “big” town before you head out across the peninsula.
This is important for a couple of reasons. First of all, it makes the area even easier to access. Secondly, this project foreshadows that the government is apparently planning to continue to invest in Puerto Armuelles, which is good news for Burica residents who will benefit from additional services and consumer goods nearby.
Another major infrastructure improvement that’s coming is the expansion of the airport in nearby David. When the current expansion and renovation are completed, the Enrique Malek International Airport will be able to open its runways to flights from the U.S. and many other nations that were previously unable to access this region directly.
The Clock Is Ticking for Burica, Panama Real Estate
These infrastructure improvements, which will infinitely improve access to Burica, could mean a tremendous influx of tourists, expats, and investors to the area. That’s nothing but good news for us pioneers.
But it’s also a compelling incentive to act quickly. Burica may be one of Panama’s last frontiers, but it won’t stay that way forever. Check out our Burica, Panama real estate page for what’s currently available in the area. If you think Burica could be your dream destination, the time to act is now.
Buying property overseas can be an attractive proposition, both in terms of some incredible views as well as some great investment opportunities. However, due to the unique nature of international real estate, it’s important to keep a few things in mind to help the process go smoothly.
Taylor White
Here are eight tips for house hunting overseas.
1. Keep an open mind.
You may have a specific location or type of property in mind, but you should always go into the process willing to consider a number of options. By doing so, many expats and investors have inadvertently stumbled onto some incredible gems they might not have otherwise considered.
Don’t limit yourself by looking at only specific styles of homes or those in a certain neighborhood.
2. Work with trusted professionals.
No matter how much research you do, no one can know the local market and the nuances of the buying process as well as a local professional with years of experience. However, don’t automatically assume that anyone with the right title can do the job.
Make sure to get plenty of references and solicit the advice of other expats when choosing who to work with.
3. Get to know the area.
Before buying property in a certain town or region, it’s important to know it as well as you can. What’s the weather like? How about in the off-season?
And what about crime? Is that an issue? Consider the needs of your family to make sure the schools, health care, and other services match up with what you require.
Costa Rica Beauty
4. Don’t buy the first place you see.
Potential expats are often blown away when they realize what their money will buy in their desired location vs. what they would pay for a comparable property back home. But that’s no reason to jump at the first opportunity that comes along.
By seeing numerous properties and comparing their prices and amenities you can enjoy your new home feeling like you paid a fair price for it.
5. And, for heaven’s sake, don’t buy anything you haven’t seen.
You’d think this one goes without saying, but it doesn’t. So we have to say it anyway. You can look at pictures of a property ’til the cows come home, but there’s no substitute for seeing it for yourself.
A realtor might fail to mention that the amazing listing she sent you sits right next to the public dump or that the road to the property stays completely washed out during the rainy season.
6. Do your due diligence.
International real estate can be tricky, especially when it comes to titles, liens, and other legal concerns. Before making an offer, it’s important to thoroughly research the ownership of the property as well as verifying that all appropriate permits, easements, and other permissions are in order.
The same goes for property inspections. Unless you’re prepared to end up having to level the house and start from scratch, make sure the construction is sound.
7. Thoroughly vet potential developers.
When buying a pre-construction home in a new development, it’s even more important to do your homework. Get references. Research previous projects. Read the fine print. Developers promise a lot, and you want to make sure yours can guarantee that the end result will look like the colorful computer-generated images in his brochure.
You’ll also want to think about how you’re going to monitor the progress of the development during the construction period.
Roman Königshofer
8. Sleep on it.
Realtors and developers are skilled marketers. They’ve been known to make a hard sell and try to persuade potential buyers to sign on the dotted line and make a deposit while they’re right there on the property. Don’t fall for it.
Instead, take some time to think about it. See if you still feel as strongly about the property when you’re not standing on it. While it may be a perfectly good decision, you’ll never regret giving yourself 24 hours to be 100% certain it’s the right one for you.
Buying property overseas can be an intimidating idea, especially for first-timers. Employing these tips can save you anywhere from a few headaches all the way up to thousands of dollars in costly mistakes. Don’t hesitate any longer. Open up your mind to the possibilities!
They say a picture is worth a thousand words. So when it comes to convincing you as to why you should consider living in Dominical, Costa Rica, all I should really have to do is show you this.
Josh Linnes
That’s the view from what will be the site of our next development, high on a hill overlooking the beautiful Pacific Ocean and arguably the best surfing destination in Costa Rica.
Still not convinced?
Well, just in case you need a little additional persuasion, here are 4 more great reasons Dominical, Costa Rica, is THE best place to live and invest in Central America.
It’s Quintessential Costa Rica
When most people think about Costa Rica, they picture magnificent lush green mountains teeming with wildlife that tumble directly down onto sandy white beaches where impressive waves wash up under the shady palms.
It sounds like a postcard. And it’s exactly what you’ll find on the shores of Dominical.
Not only does it look like the Costa Rica ideal, it has the same natural, laid-back feel you’d expect from a top tropical destination. From all the surf schools and yoga studios to the rainforests and caves to explore.
Dominical also boasts enough development and consumer options to get you by, but it’s far from becoming North Americanized or touristy. Most of the streets in town are unpaved, giving it a quaint, rustic feel.
PROVíctor Bautista
Dominical Is in a Great Spot Development-wise
On that note, it’s also worth mentioning that Dominical is currently at a crucial turning point in its development. While most of the roads within the city limits are dirt, the highway leading TO Dominical has been recently paved.
As a result of this improved access, things just got a lot more interesting in and around Dominical, Costa Rica. Property values are on the rise. New developments are being planned all over the area, ours included. This little town is really taking off.
But, wait. Don’t freak out and think that Dominical is riding some bubble that’s about to burst or that it’s on its way to becoming a tourist trap. Dominical has a long way to go to catch up with some of the other popular destinations in Costa Rica. And there are still some great deals to be had on real estate in Dominical.
So, its rapid development doesn’t mean it’s time to get outta Dodge. It means that big things are happening in Dominical, and you could be a part of them.
Surfing Is Only the Beginning of What Dominical Offers
If you’ve considered Dominical as a possible destination, but worried that it’s only appealing to surfers…think again. Yes, surfing is the number one draw for the majority of people who visit Dominical, but it certainly isn’t a requirement for those who want to live in this coastal paradise.
There are a ton of other things to see, do, and enjoy around Dominical. Here are a few:
- Mangrove exploration – These habitats are disappearing rapidly across the planet, but there are plenty to explore near Dominical. You can hop in a kayak and get up close and personal with all manner of birds, reptiles, and plants that are indigenous to these environments.
- Corcovado National Park – Ranked the third best national park in the world by National Geographic, this 103,000 acre park is home to 140 different mammals, 400 types of birds, plus monkeys, jaguars, and sea turtles.
- Fresh seafood – If you’re into fishing, the waters off Dominical are prime for catching sailfish, marlin, yellowfin tuna, mahi-mahi, and more. If you don’t want to reel in your own, there are plenty of restaurants where you can enjoy the fresh catch while you sit beachside with your toes in the sand. There’s also plenty of fresh produce sourced from the mountain farms.
- Jungle tours – Hop on an ATV or even a horse and head inland to enjoy the beautiful rainforests, waterfalls, and wildlife. The Nauyaca Waterfalls are a popular destination nearby, and zip lining through the canopy is a favorite activity of land adventurers.
- Whale watching – The Marino Ballena National Park is an incredible place to see humpback whales. This marine park is a short distance from Dominical.
- Diving and Snorkeling – Another popular day trip from Dominical is Cano Island, which offers some of the best adventure diving in the world. This island boasts an incredible variety of marine life.
Christian Haugen
But the Surfing Is Hard to Beat
I can’t talk about all those other things without at least letting the surfing in Dominical have its fair mention. Because it’s incredible.
With waves over 10 feet high, four kilometers of sandy beach, and warm water, Dominical is a surfer’s paradise. It has long attracted surfers from all over the world.
And, even if you’re not quite ready to tackle some monster waves, there are plenty of surf schools that can help you get the hang of it. And, if not, at least you know that there are plenty of other activities to keep you occupied in Dominical.
There’s a lot more to love about Dominical, Costa Rica, but there’s nothing that compares to experiencing it firsthand. Just think, if that one photo can evoke such strong emotions, what must it be like to see it for yourself?
If you are one of the many people who are considering moving to Ecuador as a possible retirement destination then you’ve probably already read up on Ecuador and wondered if all the things you’ve learned are true. Is it really as great as they say? Or as inexpensive?
And what about all the things you haven’t yet learned about Ecuador? Is there any scary information out there that you have yet to discover?
To help you out with your preparation, we’ve rounded up 11 things you need to know before moving to Ecuador. These should give you a good start to getting a better understanding of this popular expat haven.
Malcolm Surgenor
1. You will miss your family.
If you come from a close-knit family and you move to Ecuador, you better believe you will miss your kin. Yes, you can go visit but let’s be realistic. With flights back to the U.S. costing thousands of dollars, taking biannual or even annual trips to the States can add up fast.
2. There are still significant expenses in Ecuador.
Yes, you can save money living in Ecuador, and there are some great Ecuador real estate deals. But take a hard look at the numbers when deciding what you can afford, and always plan for the unexpected. Also remember that prices may vary from location to location, so choosing the right spot is key to making your budget for paradise go even farther.
3. Prepare for culture shock.
Get ready to move out of your comfort zone, immerse yourself in an entirely new culture, a different language, and a different way of looking at life. If you can do this, adjusting to Ecuador will be easier.
We recommend trying it out first. Spend some extended time there before making a final decision. If you can’t do that, then do something else to get in the habit of being out of your comfort zone, anything you can do to “try on” a new adventure.
4. Visit once, and then visit again.
It is a good idea to visit before making the move to Ecuador. As much as possible, in fact. It may sound absurd to think someone would make such a leap without ever setting foot in Ecuador, but trust us. People do it all the time.
Even within the same country there are huge varieties of climate, culture, and lifestyles in Ecuador. So make a trip down and travel around. Find a place you love and stay for a few weeks to get a feel for the way of life.
Knight 725
5. Take a hard look at your stuff.
Should it stay or should it go? This is a heavily debated question among would-be expats. The government will help you out a little, as import taxes can be waived on household goods or work equipment brought into the country by those moving to Ecuador. But is it worth all the other associated expenses and hassle?
This depends on your level of attachment to your personal items. The truth is that most things that can be bought in the U.S. are also available in Ecuador. Will they be of the same quality? Probably not. The answer to whether or not you’re okay with that will help you as you select which items to pack or toss.
6. Get your finances in order.
Start now getting your financial life in order online. No matter where you move in Ecuador, the chances are good that you will still have credit cards or bank accounts or other financial concerns back home. The more of these you can manage electronically, the better.
7. Decide whether you can live without peanut butter.
Any way you slice it Ecuador is going to be different from where you came from. That includes everything from what you can buy at the store to the level of services and amenities you can get. Some people never think of this…until they can’t find their favorite brand of peanut butter or other cherished item from back home.
Take some time to sit down and make a list of everything you use, right down to the brand of crackers you buy, the medicines you take, the favorite foods you eat. Then go back down the list and imagine your life if you couldn’t get each of those items.
Khedara
8. Determine what Ecuador visa you need before you move.
No matter where you move in Ecuador, you will need a residence visa. Planning for your visa before the move to Ecuador might mean a much better visa experience once you get there. Need help determining which visa is right? There are many resources that can help you determine exactly which one is best for you.
9. Yes, brush up on your Spanish.
It is a good idea to learn at least some Spanish before moving to Ecuador. You can get by with just speaking English, but what happens when you are in an emergency situation and cannot communicate? There will definitely be situations where knowing at least a little bit of Spanish could make a big difference.
Another fact you may not have considered is that learning Spanish will increase your self-esteem and help you better assimilate to the new culture when moving to Ecuador. Learning to communicate in Spanish might help you avoid feeling like an outsider in your new environment.
10. Fido and Fluffy can be expats too.
If you are taking your pets when you move to Ecuador, do yourself a favor and learn what will be required for them. They can only enter the country if they’ve received their appropriately timed vaccines, and you’ll need a health certificate signed by your pet’s veterinarian. It’s not exactly a piece of cake to bring your pet to a foreign country, but if you do your homework you’ll find it can be done.
11. Double-check, and then check again.
When preparing to make the move to Ecuador, double-check everything on your list. And then do it again. You’ll undoubtedly be running a bit ragged right before the move to Ecuador. But taking the time to proactively ensure things like your paperwork and finances are in order can save you a lot of headache on the back end.
These 11 tips may not apply to everyone who wants to move to Ecuador. But they’re a great start for anyone who’s considering such an important step. By thoroughly researching and carefully planning, you can take a lot of guesswork out of the process and head more confidently into the exciting new life that awaits you!
Something we at VivaTropical get asked all the time is “Where is the best place to live/invest/retire in the tropics?” And the answer to that is…we don’t know.
I mean, we know a LOT of really great places down here. We just don’t know the one that’s best for YOU.
So, while we can’t tell you exactly where you should move or retire to, we can give you a lot of really great options. In fact, we recently did just that when we listed the “Top 57 Places to Live and Invest in the Tropics.”
It’s a free download of over 200 pages of facts and amazing photos detailing what we think are the best overall places to live your life, invest your money, or both.
It’s based on a lot of different factors, such as the cost of living, quality of life, and real estate outlook for each area. I suggest you check out the whole ebook, or at least the places that interest you in the table of contents.
Meanwhile, here are our top three picks, as well as a few others that we think are great up-and-coming destinations.
#1 Nosara, Costa Rica
Nosara, Costa Rica is the perfect example of development done right. When the town was first established in the 1970s, the developer had a master plan to make it a top notch destination, and the residents have carried it out for decades. Most notably, the beach remains free of any high-rises to block the incredible sunsets.
Nosara has top-notch surfing, first-world amenities, and modern conveniences you won’t find elsewhere. Yet it’s not overcrowded or touristy. It’s clean, healthy, safe, and has great schools, making it ideal for young families. And did I mention that it’s breathtakingly beautiful?
Mihai
#2 Cuenca, Ecuador
One thing that attracts a lot of people to Ecuador is its affordable cost of living, but that’s far from being the main reason you should consider Cuenca. While it is less expensive than many expat destinations, it delivers big on amenities, culture, and community.
The best of both worlds, Cuenca offers big city conveniences in a quaint little small-town atmosphere. Its architecture is striking, and it’s rich in history. The town’s many colleges and language schools make it a virtual melting pot of unique people and ideas.
Dark Times Press
#3 Boquete, Panama
One of the neat things about Panama is its incredible infrastructure. And you won’t find many places in Central America as well developed as this expat haven. Decades of North American influence have paved the way for a first-world experience for expats living in Boquete.
But before you think it sounds too much like the U.S., consider the incredible nature that surrounds you in Boquete. Known as the “Valley of Flowers,” the hillsides around the town boast orchids and coffee farms. The rivers offer world-class whitewater rafting. And the rainforests are home to a variety of birds and other wildlife.
Some Honorable Mentions
photo by VivaTropical
#8 Boca Chica, Panama
Though it’s still relatively unknown, or more likely BECAUSE it’s so unknown, this destination scores off the charts on our Real Estate Prediction Meter. This coastal town and its 50+ islands in the Gulf of Chiriqui deliver all the things people love about ocean adventure and island living, but at a fraction of the cost.
As it becomes more and more accessible, we think this area is really going to take off. Its close proximity to David, plus new roads and a newly expanded airport mean big appreciation for real estate investors in Boca Chica.
#13 Dominical, Costa Rica
Costa Rica is truly an amazing place to visit or live. And Dominical has the best of everything this country has to offer. From the unparalleled surfing to the breathtaking panoramic views, this is one place not to be missed.
The town is really growing, but not in a manner that takes away from its natural beauty or the whole idea of what the place is really about. The incredible opportunities to experience nature, plus the renewed interest in the area make it a great option for expats and investors.
You can find out more about these and the other 52 destinations that made our list by downloading our ebook. Take a look! Which one of the top 57 places to live and invest is right for you?