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.
What’s your favorite part about the tropics?
Is it the warm sea breezes? Maybe the laid-back lifestyle? Maybe it’s just the idea of being in a land that offers more freedom. Or maybe getting some of your life back by having great domestic help?
Today, let’s see some Hibiscus!
First, you have to understand that these flowers are HUGE!
So it’s rainy season now and we’re getting ready to do some planting on our island and out on our Burica project. I’ve been looking for hibiscus, which there is quite a bit of here in Panama.
But I hit the mother load today!
I found a lady that has over 100 colors of hibiscus! 100 different colors!
I mean, really….100 different colors? At any rate, I snapped a few photos as I was buying them. Were planning on loading down the parcels with them so that we’ll have our own little mini “vivero” or nursery on the property.
And if you don’t know much about hibiscus (other than that there are tons of colors and the flowers get big!), then they grow tall. Like 15′ tall, tall. They are great for planting property lines.
As far as where to plant them, they don’t like overly wet areas. So don’t put them where you might have water pooling. They are also an extremely hardy plant. Josh was just mentioning to me that they are planting them in his back yard at the moment. They literally broke off some of the branches, stuck them in the ground, and left them.
Then there are some certain fertilizers that make them flower more. You can trim them or just let them go nuts, like these that you see in the photos.
They prefer sun over shade.
So what are your favorite flowers in the tropics? Even better. Why do you love the tropics?
Burica Panama Coastline
Burica, Panama, is one of the country’s best kept real estate secrets. But you needn’t take our word for it. One visit to this remote paradise is enough to make any traveler or would-be expat feel like a pioneering explorer.
It’s as pristinely beautiful as it is mysterious and secluded. And both nature and adventure abound in Burica.
However, before you categorize it as a place meant only for those who want to live out their childhood Swiss Family Robinson dreams, there’s a lot more to this place than just its raw, undisturbed natural beauty.
Despite its remote feel, Burica is surprisingly close to civilization. And not just any old town either. It’s less than a 2 hour drive from David, Panama’s second largest metropolis.
And the wheels are currently turning on several large-scale infrastructure and private development projects that have Burica, Panama, primed for a tremendous boom and accompanying increase in property value.
However, for now, it’s still relatively off the radar of most buyers. That’s why we think Burica is one of Panama’s last remaining secret investment opportunities.
But, for those hoping to score a killer bargain on a property in a place with exploding investment potential, we recommend you act fast. The best deals could soon be gone.
Here are a few of the things that make real estate in Burica, Panama, such a great investment.
Accessing Burica, Panama is an adventure in itself.
Nothing says “remote destination” like having to go off-road to get there. Burica is located on Panama’s Pacific coast on a peninsula the country shares with Costa Rica. And up until about three years ago, there wasn’t even a road to get you to the end of the Burica peninsula. The landscape is made up of dense jungles that just don’t lend themselves well to vehicle travel.
Viva Tropical
In fact, the end of the peninsula was once only accessible during low tide, when residents were able to drive directly on the beach. Otherwise, it was a no go. So, here you had this stunning tropical paradise that virtually no one in the world even knew about or could get to. Talk about exclusive!
Well a few years ago, the government finally put in a road that created access to the entire peninsula. It’s still a rough ride, but the views at the end are totally worth it for those who don’t mind being bounced around in a jeep for the last few miles.
The Burica landscape is otherworldly.
What awaits you at the end of the road to the Burica peninsula is a lush tropical paradise situated on a volcanic reef that juts out over 200 meters in some places. This makes for some amazing waves that serve as an impressive view and calming background noise as you relax in your hammock beneath the coconut palms.
During low tide, the underwater reef is exposed, creating a completely different silhouette that literally makes the shore look like a completely different place. It also makes for an amazing moonscape.
Viva Tropical
There’s also no shortage of wildlife, as Burica is home to a number of exotic species. Among the most prevalent are monkeys. Howler monkeys and capuchins, with their white faces, are all over the place. You can also see the endangered red-backed squirrel monkeys, which are unique to the region and can’t be seen anywhere else.
Burica is an ocean lover’s paradise.
Whatever your choice of aquatic thrill, you can find it in Burica, Panama. If enjoying the coastal breeze while you watch the waves roll in is as adventurous as you get, then you can while your days away in solitude on the beaches of Burica. If that’s merely where your adventure begins, then Burica makes the perfect jumping off point for a long list of aquatic activities.
For starters, it’s full of incredible surf spots that are mostly only known by the locals, who guard these secrets with their life. The great surfing conditions are made possible by the peninsula’s exposure to southern swells, combined with the reef, which drops to depths as low as 300 feet and makes for some amazing waves.
Burica is also home to world-class deep sea fishing. Nearby Islas Ladrones and Isla Montuosa formed the backdrop for many a world record tuna, black marlin, wahoo, and dorado. So far, Burica has one great fishing lodge called Hooked on Panama. And many more are sure to follow as the area develops.
Viva Tropical
Burica, Panama, is home to the first-ever Adventure Colony.
After reading the above, you can probably imagine why we saw such potential in the Burica area when choosing the location for our first Adventure Colony, Playa Burica. Not only did it have the atmosphere and great natural resources that we value, but we also realized what a great investment opportunity it was due to several proposed improvements (like the road we mentioned, which was only a rumor when we first discovered the area).
Our Adventure Colonies are developments for people like us who value wild and beautiful places and want to live in harmony with their natural environment, while also taking advantage of all of the opportunities it offers for adventure. However, even we couldn’t have imagined the success Playa Burica would have.
We’ve sold lots to retired doctors from the midwest U.S., young entrepreneurs from Poland and the U.K., restaurant owners from the Caribbean, and many more individuals who now make up a diverse population that shares our vision and is committed to our dream of maintaining the pristine natural beauty of Burica, Panama.
Viva Tropical
There’s never been a better time to invest in Burica, Panama, real estate.
Over our years of experience in the Central American real estate market, we’ve identified the various stages every area goes through on its way to becoming an established expat community. We’ve also pinpointed the exact step in that process where maximum return on investment is achieved.
In Burica, Panama, it’s about to happen.
Burica is currently in market stage 2 of our development model. Pretty much the only people who’ve been buying land there are pioneers like us who’ve been able to purchase large tracts of land at rock bottom prices based solely on its agricultural use to the locals who owned it.
It required a lot of work and due diligence, but the end result is that we’re now able to offer the land in manageable plots to end users who otherwise wouldn’t have been able to enter such a market on their own.
Well, when large land investors and pioneering developers start buying up land in an area, people start to talk. Interest is generated in the area and even more investors start to show up and begin developing the area.
That’s already happening around Playa Burica. Our scouts tell us that two large pieces of property have been purchased at prices that quite honestly shocked us. This is good news for Playa Burica owners and buyers.
Not only are their property values automatically going to increase, but those nearby developments will have to include more and better amenities in order to be financially feasible in this market. So, Playa Burica owners will also benefit from the businesses and services being offered in the surrounding areas.
That’s why it’s important to act fast if you’re considering investing in the Burica, Panama area. It’s too late to be the first on the scene. But it isn’t too late to profit from the improvements that are coming.
Thomas Richman
Two ongoing projects that will have a major impact on Playa Burica
We’ve already seen the effects that the new road has had on property values in Burica. It’s part of the reason we saw such great potential in the area. Well, it doesn’t stop there. Panama’s government is currently in the process of completing two huge infrastructure projects that will have an even bigger impact on the area.
New Access Via Air
The first is the airport in nearby David. The city’s Enrique Malek International Airport is undergoing a massive expansion and renovation, which will ultimately open its runways to flights from the U.S. and many other nations for the first time ever. That means that people from all over the world will soon have access to Playa Burica via a world-class airport that’s a mere two hour drive away. For now, that is.
Improved Ground Transportation
Why’s that? You guessed it. Construction has just begun on a new 4-lane road from Paso Canoas (at the Costa Rican border) to Puerto Armuelles, the last stop before you begin the trek across the Burica Peninsula. Not only is that good news in terms of access, it’s also a good indication that the government plans to continue to invest in Puerto Armuelles.
And, while the city itself isn’t the type of place that caters to people who enjoy the Adventure Colony lifestyle, it’s the closest place for those in Burica to stock up on supplies. So any growth in Puerto Armuelles is a tremendous benefit to Playa Burica owners and residents.
Bonus offer for Viva Tropical readers!
We realize that, as much as we love Playa Burica, it isn’t for everyone. Namely those who need to be within walking distance to shopping malls and movie theaters. But if you love the idea of getting back to nature on your own private piece of tropical paradise, just a short drive from those other conveniences, then Playa Burica could be right for you.
If so, you should check out our free Adventure Colony book, which explains a little bit more about the concept and what it means to live the Adventure Colony lifestyle, something that’s only available in places like Burica, Panama. The book also contains over $20,000 in exclusive real estate discounts, so download it today!
Map of Burica
Burica Fast Facts
- Population: About 1,360 (Numbers are hard to nail down, but this is a good guestimate)
- Typical temperature: Low 90s
- Nearest airport with U.S. flights: Tocumen Airport. Domestic flights to Panama City, Panama and international flights to Costa Rica depart from Enrique Malek International Airport in David
- Nearest U.S. consulate: Panama City
Alex E. Proimos
The nation of Panama has touted itself as “The Way.” The way to adventure, the way to realizing your dreams, the way to a dream vacation, or the way to whatever it is you may be looking for.
And it’s true.
Every year thousands of expats are finding exactly what they’re seeking in Panama. Whether it’s an opportunity to start their own business, the ability to experience new adventures with their family, or just a quiet place to settle down and enjoy the fruits of their labors.
So, what is the secret to Panama’s appeal? There are actually too many to name. But here are just a few facts about Panama and why expats continue to pick it as their destination of choice.
1. Panama has unmatched natural beauty and biodiversity.
Christoffer Undisclosed
Almost half of Panama’s land mass consists of rainforests, mountain cloud forests, and mangrove wetlands. And they’re all teeming with an abundance of flora and fauna. Not to mention all the aquatic species in the surrounding seas and coral reefs.
Much of the country’s biodiversity is due to its strategic position as a “biological corridor” connecting the Americas. Its Darien province, which is almost impenetrable and lacks much infrastructure, is considered by some as one of the most biodiverse areas in the entire world.
It’s home to jaguars, harpy eagles, American crocodiles, giant anteaters, and more. Among the country’s other species are over 10,000 types of plants (including 1,200 varieties of orchids and 1,500 types of trees) and over 250 types of mammals, several of which can be found nowhere else in the world.
2. Turtles and whales and birds…Oh, my!
Of all the animals to see in Panama, few are as prevalent and as fascinating as these. Five of the eight species of sea turtles in the entire world swim ashore to nest on Panama’s beaches. Several national parks encompass havens for these turtles that swim in by the thousands to lay their eggs in the sand.
Panama is also home to a whopping 972 species of birds, more than the U.S. and Canada combined. You can observe them in the mountains or in the mangroves. One of the best places is in Baru Volcano National Park, where you can spot the Resplendent Quetzal along with many other species.
Every year from June to November, humpback and sperm whales migrate to Panama’s Pacific Coast to mate. The sight of them leaping out of the water in areas like Coiba, the Gulf of Chiriqui, and the Pearl Islands is quite a sight to behold.
3. Finding the right climate in Panama is almost as easy as adjusting your thermostat.
In general, Panama has a warm, tropical climate with very little seasonal variation. Coastal areas are much more hot and humid, and the mountain towns are more temperate with less rainfall. The year is essentially divided into a rainy season (roughly April to December, give or take a month or two depending on location) and a much drier rest of the year.
Finding the right climate for you basically involves testing out spots on a sliding scale from Caribbean to Pacific and from lower to higher elevations. The Pacific coast is a bit cooler and drier, with a nice evening breeze. The Caribbean side, by contrast, gets significantly more rainfall and is a few degrees warmer.
Likewise, you can also adjust your temperature and humidity by moving further up into the mountains. It gets cooler and cooler (maybe even too cool for some), with areas like the Cordillera de Talamanca in western Panama even seeing a little bit of frost.
With such great weather year-round, Panama’s residents can enjoy its beauty and opportunities for adventure in every season! In other great news, while parts of Panama do see the occasional strong thunderstorm, it’s outside the hurricane belt.
4. Panama is an ocean lover’s paradise.
Diesel Demon
Panama is a narrow isthmus that connects Costa Rica in Central America with Colombia in South America. It’s lined by miles and miles of coastline on both the Pacific Ocean and Caribbean Sea. Its coastal ecosystems consist of gorgeous beaches, rocky cliffs, mangrove forests, and coral reefs.
As a result, Panama’s coasts offer opportunities for every water sport and activity imaginable. Coiba National Park contains the longest reef on Central America’s Pacific coast. Both it and Chiriqui Gulf National Marine Park are great places to go diving or snorkeling or watch whales and dolphins.
The name “Panama,” in the Indian language, means “abundance of fish.” It’s a great place for sport fishing, as a number of world record fish were caught of its shores. Surfing is also popular in Panama, particularly in world-famous Santa Catalina. Other available water sports include paddle boarding, kayaking, and kite surfing.
5. Panama’s fun doesn’t stop at the shore.
Panama’s interior offers a wealth of other options for adventure. Many hiking trails wind through the country’s jungles and rainforests, including several that run through Metropolitan Natural Park in Panama City, the only protected forest in Central America that’s located within the city limits.
A hike to the summit of Volcan Baru, the country’s highest point, affords visitors the opportunity to simultaneously take in views of both the Atlantic and Pacific Oceans. The most intrepid adventurers often start this hike at midnight in order to reach the peak by sunrise.
Not far from Volcan Baru, also in the Chiriqui province, is the mountain town of Boquete which offers some of the world’s best zip lining tours through the canopy of the cloud forest. The area also has some first-rate places for kayaking and whitewater rafting, with rapids ranging from Class III to Class V, depending on the season.
6. Panama’s capital city is truly cosmopolitan.
Jasperdo
Much of Panama enjoys great infrastructure for a developing country. In Panama City, it’s top-notch. There’s world-class shopping, fine dining, museums, modern medical facilities, and much more. And recent urban development has attracted even more residents to this thriving hub.
But it’s not all concrete and skyscrapers. As mentioned, Panama City has a 655-acre rain forest within its limits. There you can find a variety of birds and mammals, including toucans, parrots, and sloths.
There’s also a coastal strip with lots of green space that leads to the Old Town, Casco Viejo. This area, a UNESCO World Heritage site, is a unique blend of ancient and modern. With its boutique hotels, located in historic buildings, and open-air cafes it’s an eclectic mix of people and cultures.
7. Panama is a unique and diverse blend of people and customs.
Speaking of culture, Panama is a great place to go if you want to experience the real, authentic customs and traditions of a nation’s people. Panama is still home to 7 different indigenous tribes, although they represent only 6% of the country’s total population. They live in groups called comarcas, which are self-contained sovereignties, with many being very welcoming to visitors who want to observe how they live.
Among the cultural heritage of these ethnic groups are indigenous dances, like the tamborito and congo. They also produce a variety of handmade arts and crafts. These include molas (patchwork pictures that can be sewn to garments or used as pillow covers or wall hangings), jute bags, wood carvings, beaded jewelry, and woven baskets. (However, one of the most commonly mistaken facts about Panama is the origin of the Panama hat. It actually hails from Ecuador.)
Locals also celebrate a number of festivals, most notably Carnival which takes place four days before Ash Wednesday. Towns elect two queens to represent separate sections of the city. For five nights, the queens and their troupes entertain the crowds with parades, dancing, and fireworks.
8. The Panama Canal is an amazing piece of living history.
The largest contributor (directly and indirectly) to the nation’s GDP, the Panama Canal is such an integral part of the story of the country’s progress. And it’s currently undergoing a massive expansion.
The 90-year old waterway, which is already operating at almost 100% of its ability, will have doubled its capacity by the time its over $5 billion expansion project is completed in 2015. A new Observation Center gives visitors the opportunity to watch the construction, as well as take in views of Gatun Lake. Also available are full and partial tours through the canal, where visitors can experience the journey for themselves.
9. Panama enjoys a pleasantly low cost of living.
While it’s true that the cost of living is low throughout most of Latin America, it’s difficult to find a much better bang for your buck than in Panama. Costs vary, of course, from one area to the next (with larger cities requiring much more money to live on than more rural areas).
However, it’s within reason that a couple could enjoy a nice standard of living for $1,500 or less, including rent, in most parts of Panama. And that includes such luxuries as the services of a maid and gardener.
Other services that are quite reasonable in Panama include reliable high-speed internet, public transportation, and excellent health care.
10. Panama is an excellent place to invest or do business.
Not only is Panama a great place to visit or live, it’s very friendly to investors or those who want to open a business, particularly in the tourism industry. Its tax laws are favorable, and setting up a Panamanian corporation is relatively simple.
The government has also recently signed into legislation a number of incentives that make it even more attractive to invest in Panama.
Whether you want to start up an outfit that offers ATV jungle tours, or you just want to buy a piece of land and build your own little piece of island paradise, Panama is a great place to make that happen.
Bonus Facts About Panama…#11. Panama is home to two Adventure Colonies.
I know what you’re thinking. What’s an Adventure Colony, right?
Adventure Colonies are our one-of-a-kind developments that are specially tailored towards would-be expats like you who share our love for the natural environment and a life lived a bit more simply. After reading these facts about Panama, I’m sure you can see why we chose it for our first two projects.
Playa Burica is located on Panama’s Pacific coast on a peninsula the country shares with Costa Rica. Its oceanside lots are covered with untouched jungle, making it great for adventure lovers. It’s also a savvy investment choice, as several factors make the area prime for a boom in the coming years.
Our newest development, Boca Chica Island, is a 400 acre private island covered in jungle and rainforest. It lies 10 minutes off of Panama’s Pacific coast and is surrounded by about 50 other mostly uninhabited islands. We think Robinson Crusoe would approve.
If your idea of a dream destination abroad involves something more–or in this case, less–than a string of high-rise condos and all-inclusive resorts, then maybe an Adventure Colony could be right for you.
Map of Panama
Panama Fast Facts
- Population: 3.8 million
- Typical temperature: Temperature typically varies from 72°F to 91°F
- Nearest airport with U.S. flights: U.S. Bound flights leave daily from Tocumen International Airport
- Nearest U.S. consulate: Panama City
David Panama – Pedregal Marina
Just ask anyone who lives in or has ever traveled through Panama’s Chiriqui Province, and they’ll tell you what a vital role the town of David, Panama, plays in making life easier in the surrounding Province of Chiriqui.
Located in a basin on the coastal plain, the Chiriqui capital of David is situated about 55 kilometers from the border of Costa Rica on Panama’s Pacific Coast.
The town has a population of just under 145,000 people, and isn’t as densely populated as many other cities its size, since there are few buildings over 5 stories tall.
The low population density and meager skyline give David a very small-town feel. However, it remains Panama’s second largest city and a major hub for transportation and commerce. It’s a relatively wealthy city, with a dominant middle class and a very low poverty index and unemployment rate.
David Panama
David, Panama, is different in many ways than a lot of other tropical destinations. On the one hand, a lot of its buildings are newer construction. That’s good, in that they’re functional and solidly built. But it’s bad in the sense that the city lacks the colonial charm associated with the clay structures and tile roofs common to many Latin American destinations.
So, while it isn’t exactly the country’s most aesthetically pleasing destination to purchase Panama Real Estate, David and its surrounding areas still have many factors that make the city quite attractive to tourists and expats alike. As a result, it has a large established expat community.
However, even more notable is the number of expats living in close proximity to David, who take advantage of all the amenities and conveniences it offers while foregoing its drab environment.
Here are a few of the reasons the area in and around David is so attractive to expats and travelers.
FutureExpat
1. David makes exploring & living in the amazing Chiriqui province much simpler.
Within a short distance from David are a number of fantastic destinations. The majestic Volcan Baru, the country’s highest peak, and the town of Volcan are about an hour away.
Both the mountain town of Boquete, with its coffee plantations and vibrant expat community, and the beach town of La Barqueta are only a 30 minute drive from David. It’s also only 19 miles from the country’s boundary with Costa Rica, making it an important border town.
David Panama Airport Runway
Playa Burica and Bocas del Toro are two other destinations within a short drive from David.
Also nearby (only 5 minutes from the airport) is the Pedregal Marina. This port houses the private boats and yachts owned by David’s residents. It’s also a great place to do some sport fishing. From this port, you can also explore the nearby mangroves or the Gulf of Chiriqui.
It also provides access to exotic Boca Chica and the beautiful Boca Chica Island, before giving way to the open Pacific Ocean.
While these are all amazing places to live & visit, what makes them even better is that fact nearby David offers a place to restock on supplies. It has everything travelers and residents of these more remote areas might need, making all of these areas incredibly accessible.
Situated halfway between San Jose, Costa Rica, and Panama City, Panama, David is conveniently located right smack on the Pan-American highway. It also has an international airport with flights to San Jose and Panama City. You can’t get much more accessible than that (although David may be about to…more on that later).
2. David is also a great place to stay while you explore the surrounding areas.
With so much to do within such close proximity to the city, David is a natural choice for where to set up camp while you take advantage of all the natural beauty, exotic wildlife, and opportunities for adventure that surround it.
Sure, some expats may choose to make David their home base, but when given the choice between living among cinder block buildings vs. living in an internationally-renowned mountain paradise (Boquete) or on a stunning secluded island (Boca Chica), most people are going to opt for one of the latter choices.
For those who wish to make David their temporary basecamp, it has hotels available to suit every budget.
Hotel Cuidad de David
Our favorites are Cuidad de David Hotel, whose rooms rent for around $120 per night, and for a lower cost option, Alcala Hotel ($30 per night) is clean, has a restaurant, and is centrally located.
You can also try Hotel Iberia or Hotel Iberia Sur (two hotels, same management). It has a nice restaurant, is within easy walking distance of the downtown area, and rents for about $42 per couple.
David, Panama Hotel Alcala
David, Panama Hotel Iberia
3. David, Panama, is jam-packed with supplies you’ll need.
Thousands of expats live in Chiriqui Province. Towns like Boquete and Volcan have modern conveniences and almost everything their residents need. When they can’t find something, they go to David. It’s where expats from all over Panama go for a quality piece of furniture, brand name clothing, or an obscure electronic gadget.
David Panama shopping center
There are about a dozen large supermarkets, 10 auto dealerships, six appliance and electronic stores, four department stores, three furniture outlets, two theaters (with movies in English), a Price Smart (similar to Costco or Sam’s Club), and a Do-It Center (like Lowe’s or Home Depot). Other businesses and services include clothing boutiques, shoe stores, dry cleaners, bakeries, video stores, pharmacies, salons, and even chain restaurants like KFC and T.G.I.Friday’s. And new businesses are opening regularly to accommodate a growing number of tourists and expats.
KFC in David
The roads are in good condition, and most public services are reliable. Privatized companies offer electrical service, as well as cable, telephone, and high speed internet. You can drink the water from the tap. David has frequent bus service throughout the city, and it’s quite reasonable. There’s also garbage collection twice per week and a number of local radio stations.
One thing to understand is that shopping in David (or Latin America for that matter) is different than in North America. You’ll have to get use to hunting for the things you need. It can be tough to go into one store and find everything. But once you get the hang of it, there isn’t much that you can’t find.
4. Among David’s amenities is a top-notch medical facility.
Hospital Chiriqui
Don’t let the photo fool you. Hospital Chiriqui is the largest private hospital in the region. Its state-of-the-art equipment and over 100 doctors offer quality care at extremely affordable prices. Several of the hospital’s doctors and nursing staff know at least some English, and many trained in the U.S. or Europe.
The entire experience is very different than a visit to a North American doctor. Rather than zipping patients in and out like they’re on an assembly line, the doctors take extended personal time with each patient.
There’s less government and insurance regulation, so doctors are free to make decisions based on their professional opinions. Wait times are pleasantly short once you learn to either book an appointment or show up right around the time that the doctor will begin seeing patients.
And while the care provided is top notch, the associated costs are minimal. Doctors don’t perform a lot of unnecessary tests and procedures. And, since the Panamanian society is not a litigious one, they aren’t shelling out half their income to pay for liability and malpractice insurance. As a result, those savings are passed along to the patient. For example, a visit to the ER might only cost around $25.
Services offered at Hospital Chiriqui include emergency, trauma, orthopedic, gynecology, neurology, cardiology, pediatrics, and many more. Although costs are already low, compared with the price for the same service in North America, the hospital also offers a discount program to members. The MSChiriqui program provides medical coverage and savings at Hospital Chiriqui and, in many cases, at least partial benefits at other facilities.
Like the rest of Panama, healthcare in David is nuanced. So check out our Panama healthcare report to learn more.
5. A major airport expansion means huge investment opportunity for David and the surrounding area.
David’s Enrique Malek International Airport has always been a great feature for the city. Located on the opposite side of the country from Panama City it’s always been the best way to access all the great destinations in Western Panama.
Panama’s current administration has been investing heavily in infrastructure, which is a good thing for the country and its tourism industry. One of the projects underway is the expansion of the David airport, which is a great thing for David and the areas close to it.
Grab a rental car at the David airport
Renovations include an extension of the runway, facility upgrades, and a more streamlined immigration process, all of which would make David an attractive candidate for more international flights.
In fact, Copa Airlines has indicated they plan to begin direct flights to David from the U.S. (likely beginning with Miami and/or Houston). This is all speculative at this point, but all it takes is one trip through the airport these days to convince you that major changes are underway.
This represents huge potential from a real estate and investment perspective. When infrastructure improves and towns become more accessible, they become more attractive to visitors and new residents. As a result, this expansion could have a tremendous impact on David, Panama’s real estate, particularly in areas that haven’t had the huge boom some of their neighbors have experienced.
David will certainly benefit, as will areas like Boquete, Volcan, and Playa Burica. However, towns like Boca Chica are probably best poised to see appreciation.
6. The cost of living in David is very low, even for Panama.
After hearing the list of services and amenities available in David, Panama, you wouldn’t expect to learn that it’s all offered surprisingly cheaply. But it’s true. Products and services in David costs much less than in Panama City, in many cases even half as much. You can get a nice lunch in a restaurant for $5, including a soda. A large Panamanian working-class lunch is only $2.75 and usually includes a plate full of rice, chicken, plantains or beans, and a salad.
For those who do decide to set up residence in David, utilities and services are also affordable. You can find reliable high-speed internet for as little as $19 per month, and water service for a two-person household is only about $7. You can hire domestic help for $10-$12 per day, or a full-time maid for only $175 per month. All in all, you could easily get by in David for no more than $1,500 per month, including rent, although the cost will vary depending on your lifestyle.
Real estate in David is also a bargain. You can get a smaller, Panamanian-style home that needs a little remodeling for as low as $40,000. Even a move-in-ready property would still only come in at about $75,000.
7. Recent incentives make David a great place to invest, particularly in the tourism sector.
Many of the factors we’ve already mentioned make David a prime location for investment in Panama. Although it has a lot of businesses and services already in place, there is a lot of money in David. Not to mention, expats living in nearby areas come to David to shop.
They would likely love to see more options for evening entertainment, specialty shops, and even more specialized services. And with expats continuing to settle in the Chiriqui region, David’s economy is expected to boom in coming years.
What’s more, Panama’s government is heavily focused on increasing tourism to the country. And much of its efforts are concentrated in and around David. When recent legislation offered huge incentives to those who wanted to establish tourism companies or developments in certain targeted areas, over 80% of them were in Chiriqui.
It’s clear that the government believes that in this area lies its best opportunity for tourism growth. If you spend some time there, you’ll see why.
Among the incentives available to those investing in tourism are exemptions on taxes on everything from property to imports to building materials and, in some case, even income tax. The various laws all have different specifics and qualifications. But the bottom line is that, if you want to invest in Panama (and specifically the areas around David) the government wants to make it as easy as possible for you.
Arisa
8. While there are a few negatives about David, the list is short.
No place is perfect. We all know that. And David is not without its list of shortcomings. The heat is a big one. As is the humidity. David can be absolutely sweltering with little relief from the heat. The best way to beat it is to relax in the city’s beautiful Parque Miguel de Cervantes with a cool drink of helados (fresh coconut juice) or a fresh fruit smoothie.
This is a big reason many expats don’t choose David as a place to actually set up residence. If you’re going to deal with the heat, you might as well be on the coast or a nearby island, with a nice coastal breeze to cool your skin. Or move up into the mountains where you can enjoy all the conveniences of David in close proximity, with much cooler temperatures and less rainfall.
Also, while there’s a ton to do in the areas surrounding David, the city itself doesn’t have a whole lot to offer in the way of entertainment and culture. Oh, it’s purely Panamanian. But when it comes to museums, night clubs, and fine dining restaurants, David leaves a lot to be desired. It’s a city that’s more focused on agriculture and industry than on being a cultural hub.
That being said, if that’s the worst it’s got, then David isn’t that bad of a destination for expats and tourists. In fact it gets a lot of both. However, for the most part, people tend to settle in the outlying areas. They’re just too spectacular not to! So, if you think David might not be the right place to live, then check out some of the other fantastic areas in Chiriqui. David will be there when you need it.
Map of David, Panama
David Fast Facts
- Population: About 150,000
- Typical temperature: 73 degrees lows with the highs in the upper 90’s
- Nearest airport with U.S. flights: U.S. Bound flights leave daily from Tocumen Airport, both domestic and international flights to San Jose, Costa Rica depart from Enrique Malek International Airport in David
- Nearest U.S. consulate: Panama City
For those of you that don’t know, we’ve nearly sold out our Adventure Colony in Burica, Panama. This video was taken just in front of Lot 16, which was sold a few years ago.
While on the pacific coast, due to the shape of the peninsula, we actually see the sun rise over the ocean. Check the vid to see what I mean.
Actually the lot where I shot this video is 1.6 acres, has a cabana, and you can own it for under $150k
Due to some financial troubles, the owner has to sell and is offering a discount beyond even the original purchase price.
This is pretty unheard of in a development that’s been as successful as Playa Burica.
Not only that, if you’ve grabbed your copy of Adventure Colony already, you’ll also qualify for another $15,000 in discounts.
You can head over to the Playa Burica page to get all of the details, but here are the main ones:
Size: 1.6 acres Amount of Ocean Frontage: 282 feet Includes Cabana that’s already built. Price: $149,900. And there is financing available.
This one won’t last long.
P.S. Here’s a Pic of the included Cabana
And another shot of its ocean frontage…
UNESCO
How much do you know about Panama? If you’re like many potential expats, your knowledge may be limited to the fact that it’s home to the Panama Canal and the birthplace of the Panama hat. And you’d be wrong about the latter. (They actually originated in Ecuador.)
If you’re considering visiting or relocating to this important international destination, or if you just want to brush up on your general knowledge of Central America, here are some Panama facts to educate you on some of the country’s highlights.
General Panama Facts
Panama is an isthmus that connects the Central American country of Costa Rica to Colombia in South America. Shaped like a sideways “S,” it runs from west to east and borders both the Caribbean Sea and the Pacific Ocean.
Its total area is around 29,150 square miles (slightly smaller than the state of South Carolina), and it has a population of about 3,595,490 (less than the city of Los Angeles). Many of the country’s residents (1,272,672 to be exact) live in or near the capital, Panama City.
The rugged terrain and lack of good roads can make accessing areas along the Caribbean coast more difficult. As a result, the population is also heavily concentrated on the southern, Pacific side of the country, where the Pan-American highway runs. Panama’s Darien province also contains the only break, known as the Darien Gap, in the entire highway system that connects the farthest tips of North and South America.
Panama enjoys a tropical climate, with temperatures ranging from 87 to 95 degrees Fahrenheit year round. Relief from the heat can be found at the higher elevations, where temps are generally in the 70s. Its only season variation is between its wet (April to December) and dry (January to April) seasons.
Panama’s History
The Isthmus of Panama was discovered by Spanish explorers Rodrigo de Bastidas and Vasco Nunez de Balboa in 1501. In 1510 Santa Maria La Antigua del Darien became the first permanent settlement on the American mainland. The Pacific Ocean was reached on an expedition led by Balboa in 1513, and Pedro Arias Davila established Panama City on August 15, 1519, almost a hundred years before Jamestown, Virginia, was founded.
Panama remained a Spanish colony until 1821 when it became part of the Gran Colombia, under the rule of Simon Bolivar. It gained its independence from Colombia in 1903.
The People of Panama
Panama is comprised mostly of mestizos (68%), those of mixed Amerindian and European descent. The other categories include black and mulatto (10%) and white (15%). Amerindians (or American Indians, those indigenous to the region) account for another 6%.
Spanish is the official language. However, English is widely spoken. In fact, approximately 14% of the country speaks English. Several Indian languages are also used among native peoples.
The majority of the population (75-85%) identifies with the Roman Catholic church. However, freedom of religion is guaranteed by the nation’s Constitution. Protestantism, Judaism, Islam, Buddhism, and many other religions are also practiced in Panama.
Lon & Queta
Panama’s Structure and Government
Panama is divided into nine provinces and three Indian territories. It is a constitutional democracy whose representatives are elected by direct vote. The executive branch consists of a President and Vice President who are elected for a non-renewable five-year term. The 71 members of the National Assembly, the legislative body, are also elected every five years, often resulting in sudden, drastic changes in policy. Supreme Court justices are nominated by the executive branch and designated by Parliament.
Panama’s Economy
The official currency of Panama is the Balboa. However, the U.S. dollar is also widely accepted and exchanges at a rate of 1:1, making it an easy place to live and invest. To further attract investors, a recent law was established to protect investments made in all economic sectors. Both natives and foreigners are free to do as they wish with the products and profits generated with Panamanian investments, up to and including trading or transferring them to other countries. It also establishes an arbitration provision, eliminating the danger of dealing with the Panamanian judicial system.
Its main industries include food processing, chemical manufacturing, textiles, and the manufacturing of machinery and metal products. Among its agriculture products are coffee, bananas, sugarcane, cotton, beef, and veal. Its largest exports are coffee, shrimp, lobster, cotton, tobacco, and bananas.
Other revenue producers include the banking and services industries, tourism, tax-free zones, and the Panama Canal. Panama’s economy has boomed in recent years, so much so that the country experienced a shortage of skilled workers. As a result, a new visa was introduced to attract foreign professionals and their families to live and work in Panama. The shortage also prompted large investments in Panama’s school system for a more long-term approach. The country has a high literacy rate at 93%.
Because its tax law is strictly applied to income produced within its territory, it is also considered something of a tax haven. All transactions made or executed in or affecting areas outside of Panama are exempt from income taxes. Property and other taxes are also quite favorable.
The Panama Canal
Among its most notable landmarks is the Panama Canal, a 48 mile ship canal that first opened in 1914 and took 33 years to build. The passageway was instrumental in opening up trade and travel to the west coast of the U.S. as well as nations in and around the Pacific Ocean.
The Canal was controlled by the U.S. until 1977 when a series of treaties made way for it to be handed over to Panama. Since 1999 it has been solely operated by the Panamanian government. Named one of the seven wonders of the modern world, it has been expanded many times with its third lane of locks slated to open in 2015.
Surprisingly, the canal itself only accounts for 4% of the country’s Gross Domestic Product (GDP). However, due to the multiplier effect, its impact is much more far-reaching. Its employees spend their income on consumer goods, which in turn fuels businesses like restaurants and grocery stores. As a result, it’s estimated that the canal indirectly accounts for closer to 30% of the nation’s GDP.
Panama’s Infrastructure
Panama has excellent infrastructure when compared to many of its Latin American neighbors. And recent investments into roads, airports, and other systems are literally paving the way for even more businesses and visitors to come to Panama. These include a $5.2 billion Canal expansion, airport renovations, five new highways, new hospitals, and $1.5 billion for a Metro line, Panama’s first subway system.
Panama is also a highly connected country, due in part to a longstanding U.S. military presence. In fact it ranked as the second best Latin American country for technology and internet penetration. Telephone service, high-speed internet, cable, and satellite service are also affordable and reliable.
Panama’s Nature
Angie Harms
Roughly a fifth of Panama’s entire land area is protected areas. This includes nature reserves, national parks, wilderness areas, and others. In addition to these land features, Panama is also home to three protected wetland sites.
Though not as naturally diverse as some of its Central American neighbors, Panama boasts a tremendous amount of flora and fauna that make it a nature lover’s paradise. Its forests are home to almost 10,000 species of plants, including 200 that are currently endangered. Panama’s resourceful natives have used many of these for centuries as medicine, food, and construction materials.
Panama also claims over 200 mammals, as well as many reptiles, amphibians, and fish. It also contains 10% of the world’s bird species, including the rare resplendent quetzal.
Traveling to Panama
Panama is five hours behind Greenwich Mean Time (GMT). It’s also one hour ahead of its Central American neighbors. It does not observe daylight savings time so, depending on the time of year, it corresponds with either the U.S.’s Eastern Standard Time or Central Standard Time. Most of its electrical outlets are 110 volts, although there are some areas with 220.
Entering Panama requires a passport (valid for at least 6 months) and the appropriate visa (90 or 180 days for tourists). You’ll also need to show proof of a return trip ticket or ticket to your next destination, as well as proof of financial solvency (e.g., bank statement or travelers checks) to guarantee you won’t be working while in the country.
Panama by the Numbers
Here are a few more Panama facts and figures:
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GDP $36.253 billion
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GDP per capita $9,526
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GDP (PPP) $57.079 billion
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GDP (PPP) per capita $15,616
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Industrial production growth rate 15.7%
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Unemployment rate 4.4%
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Population below poverty line 26%
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Revenues $9.07 billion
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Expenditures $9.835 billion
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Budget deficit -2.1% of GDP
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Public debt 39.2% of GDP
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Taxes and other revenues 25% of GDP
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Inflation rate 5.7%
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Commercial bank prime lending rate 6.91%
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Current account balance -$4.191 billion
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Exports $18.91 billion (includes the Colon Free Zone)
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Imports $24.69 billion (includes the Colon Free Zone)
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Reserves of foreign exchange and gold $3.303 billion
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Debt – external $14.2 billion
If you still have questions about Panama, take a look at one of our many articles on various topics affecting those who are considering it as a retirement or vacation destination. Or, better yet, schedule a trip to the Latin tropics and check it out for yourself.
Map of Panama
Panama Fast Facts
- Population: 3.8 million
- Typical temperature: Temperature typically varies from 72°F to 91°F
- Nearest airport with U.S. flights: U.S. Bound flights leave daily from Tocumen International Airport
- Nearest U.S. consulate: Panama City
- Home of the Playa Burica adventure colony.
Playa Burica property in Panama
There are a lot of great up-and-coming places in Panama that are perfect for those who want to relocate to the tropics but don’t want to pay the hefty price for a place in an established area. These locations are also ideal for any would-be pioneers who are looking for a rising hotspot that isn’t quite so “last week.”
So, whether you’re hoping to blaze a trail in an emerging area or just want to find your own piece of paradise with a slightly lower price tag, we recommend that you keep an eye on these 5 up-and-coming places in Panama.
1. Western Azuero
Unlike the eastern portion of the peninsula, the western coast of Azuero is much less developed. Known as the Azuero Sunset Coast, this area is sparsely populated and home to very few expats. While it has a couple of small towns–most notably, Torio, and Malena, a small fishing village–the region is mostly home to cattle ranches and those involved in other agricultural pursuits.
Situated on Panama’s Pacific Coast, the scenery on the Azuero is remarkable. Lush mountainsides, with cascading waterfalls, give way to deserted stretches of beach where you could easily find yourself to be the only sunbather or surfer for miles around. Speaking of surfing, this region, particularly Morillo Beach just south of Torio, offers some of Panama’s best and most consistent waves.
The Azuero’s western coast offers sightings of whales, dolphins, and sea turtles. It’s also home to world-class fishing, with an abundance of tuna, sailfish, marlin, dorado, wahoo, and yellow tail. And the rainforests of Cerro Hoya National Park are home to many endangered species.
Azuero coastal area does have some supermarkets and even a handful of new residential areas along the coast, but getting from point B to point B is indirect at best, however, if that doesn’t bother you, this area boasts one of the lowest costs of living in Panama.
With decent access to the larger city of Santiago, and even better access to more populated areas along the peninsula’s east coast (like Pedasi and Las Tablas), the western Azuero coast is a great fit if you want to live like a local without venturing terribly far away from modern conveniences.
2. Caribbean Coast
In contrast to Panama’s often rocky and varied Pacific coast, its northern coast borders the Caribbean, which offers pristine white sand and shady palms. Not to mention sparkling turquoise waters that offer crystal clear visibility.
Its beauty might suggest that Panama’s Caribbean coast would be its most desirable and home to many of its largest settlements. Not so.
One reason is its inaccessibility. The Pan-American highway, which stretches from Alaska down to the southernmost regions of South America (except for a brief gap through Panama’s Darien province), almost invariably clings tightly to Panama’s southern Pacific coast, making the Caribbean side of the nation much more difficult to reach by land.
Also, while there are areas such as Bocas del Toro that attract both tourists and expats in droves, they’re not the best bargains on the Caribbean coast. If you’re looking for a bigger discount, Panama’s northern coast also boasts miles and miles of virgin beaches that are great for the more adventurous destination-seeker.
Along with the discounted price tag, though, comes much less in the way of infrastructure. Think primitive roads, spotty internet, and fewer public water systems.
Additional challenges presented by Panama’s Caribbean coast include the large amount of protected land. With many national parks and indigenous lands, property is quite difficult to come by. Not to mention, the area gets a large amount of rainfall, roughly twice that of the Pacific Coast.
While the Caribbean coast offers opportunities to own stunning beachfront property at rock bottom prices, it’s not for everyone. We’d only recommend this region if you aren’t afraid to hurdle some obstacles in the buying process and are willing to contend with a lack of conveniences. At least, for now.
3. Burica Peninsula
In Panama’s southwest corner lies the Burica Peninsula, which juts into the Pacific Ocean and divides its territory between Costa Rica and Panama, which claims about ⅔ of the landmass. Accessible by a short scenic drive from David, the peninsula is home to Puerto Armuelles, which has shopping facilities and other modern conveniences.
However, Burica’s tropical wilderness, not its familiar amenities, are its real appeal. Covered mostly in rainforests, it contains beautiful flora and fauna and is home to many endangered species such as the Panamanian Red Spider Monkey.
The area also contains fields, where cattle graze, and rolling hills that often drop off directly into the Pacific Ocean. Its beaches are untouched and dotted with towering palms. In addition to lounging in a hammock on an isolated beach, the area also welcomes you to experience some of the world’s best sport fishing and a few of Panama’s secret surfing locations.
A drive down the recently completed road that leads all the way to the tip of the peninsula affords views of Volcan Baru, the country’s highest peak. You’ll cross a river and drive out on the beach, along the surf, to reach the Playa Burica community at the southernmost point. But only at low tide. Otherwise, you’ll need a boat to get there.
While this area is still up-and-coming, it likely won’t be for long. If you’re looking for an elusive destination that offers a remote feel, just a short distance from civilization, take a look at the Burica Peninsula.
Note: Article 121 is something one needs to research before buying here. Despite this Law most of the coastline is currently owned by foreigners.
4. Santa Fe
So, those are some beach areas. What about something for the mountain-goers?
The relatively small, albeit growing, town of Santa Fe, nestled into the Veraguas mountain range about 5 hours from Panama City, is a place we think you should watch.
Although surrounded by much higher mountains, Santa Fe sits at an altitude of just 1350 feet. That’s high enough to escape the heat and humidity of the lowlands, yet low enough to experience some nice warm days and no breathing problems.
While notes of traditional Panamanian culture still ring throughout, the city enjoys many modern conveniences such as clean drinking water and high speed internet. However, perhaps its biggest draw is its opportunity for adventure.
Santa Fe offers horseback riding, bird watching, and exploring…from mountainside coffee farms to waterfalls to orchid gardens. Among the town’s inhabitants are toucans, hummingbirds, and rare butterflies.
Also relatively rare in Santa Fe are expats. Sure, there are some. But rather than living isolated by themselves in gated communities, expats in Santa Fe often reside on large plots of land that they can use for coffee farming, reforestation, or even simply growing their own organic fruits and vegetables.
Santa Fe is a great value if you’re an outdoor enthusiast who wants community and conveniences, but in a place that’s rich in authentic culture and relatively unspoiled by developers.
5. Ruta Sur
Ruta Sur refers to the new stretch of road that was built to bridge the gap between Boquete and Volcan. Meaning “Southern Route,” it covers what is essentially 15 miles, as the crow flies, in many more winding miles of unmarked (and sometimes unpaved) roads.
Much different from the highly-developed and densely populated towns it connects, areas traversed by the Ruta Sur are rural and contain few inhabitants. The route takes you past miles of coffee and vegetable farms, by orange groves, past Volcan Baru, alongside waterfalls, through canyons and lush valleys, and finally to fields used for cattle farms and greenhouses.
Once fairly unknown, this region offers, not only new and improved access, but many opportunities for enterprise. Residents of this area are able to enjoy the breathtaking scenery and also earn a living operating a dairy farm or a spa retreat high in the mountains.
As the road begins to become more traveled, the region will likely gain popularity. However, it could take a while. The route is largely unlabeled, with only a telltale painted yellow stripe marking the way, much like Dorothy’s fabled quest for the land of Oz.
The areas along the Ruta Sur are perfect if you want to enjoy a life lived a little further off the beaten path and use your land as your livelihood. Shop for property along this stretch of road if you want to embrace life along the journey, not at the destination.
VivaTropical
Deciding where you want to live, invest, or spend your retirement abroad can be tough. If you’ve picked Panama, then we think you’ve made a good choice.
But now you may be wondering exactly how to find your dream property in Panama.
The decision ultimately depends on your particular set of values and how you envision spending your retirement. There’s no ideal community or city that’s perfect for everyone.
However, with some careful consideration and self-examination, we’re confident you can find the place that’s the best fit for YOU. Here’s a map of Panama, with some popular expat destinations labeled on it, for you to reference as you go along.
What is my dream?
While it sounds cliché, a good place to start is with the good ole “Close your eyes and imagine yourself in paradise” trick. So, go ahead. Close ’em. Can you picture it? Save that image in your mind, so you reflect on it as needed.
Now let’s examine that vision. How did you visualize yourself spending your retirement?
Were you in a hammock on a deserted beach with monkeys chattering in the trees and toucans flying overhead? Or maybe in the lush mountains picking fresh organic vegetables from your very own garden, or tending your hillside coffee farm? Or maybe you envisioned yourself sipping a glass of wine at a table outside a small cafe in a bustling cosmopolitan city.
Whatever that dream, it can be a reality for you in Panama. You’ll just need to consider a few more factors to help you narrow your search, from an entire country, down to a short list of areas that are best suited for you and your values.
Am I a beach or a mountain person?
This question should be a fairly simple one and one that can probably be easily answered based on a quick survey of how you’ve spent most of your pre-retirement vacations. It’s also a pretty important question, since the difference between the beach and the mountains in Panama may be an even more drastic one than you’re accustomed to.
There is some variance depending on the area but, in general, Panama’s beaches are hot and humid, with highs in the upper 80’s and very little seasonal variation. The only real difference in the seasons is between dry and wet, as a vast majority of the country’s annual rainfall occurs from April to December. Panama City and Santa Catalina have this kind of climate.
While they also experience little temperature variation, Panama’s mountain areas enjoy a more spring-like climate year-round (with temps dipping down into the 50’s at night). As a result, vegetables and flowers can be grown all year.
Temperatures continue to decrease the higher you go and, rather than just having the one main attraction (the beach), the mountains have rivers, waterfalls, and a wide variety of ecosystems. Santa Fe and Boquete are two popular mountain destinations.
If I’ve decided to live near the beach, which side should I choose?
Since Panama runs from West to East, it’s bordered by the Caribbean to the north and the Pacific to the south. And the two are vastly different.
The Caribbean boasts most, if not all, of Panama’s most beautiful beaches. With white, powdery sand, a crystal-clear turquoise sea, and shady palm trees, it looks exactly like a postcard.
Not so fast, though.
While unquestionably breathtaking, Panama’s Caribbean coast presents its own set of challenges. Because it is so far removed from the Pan-American highway, most of the cities along the Caribbean coast are quite difficult to access by land. As a result, there are few areas with any kind of established city to live in. Bocas del Toro is a great one.
Its inaccessibility is further intensified by the large portions of Caribbean coast that are designated as protected areas or indigenous lands, making it difficult for individuals to own property there. The Caribbean coast also experiences significantly more rainfall than its Pacific counterpart.
The Pacific coast on the other hand, is ever-so-slightly cooler and gets about half the amount of rain. However, its beaches are much more varied and maybe the tiniest bit less picturesque, depending on your tastes. With coarse, gray sand and sometimes rocky coastlines, the Pacific offers great surfing and sport fishing opportunities.
Panama’s Pacific coast is also much more accessible and available to would-be property owners. As a result, it offers many more settlements that are as unique as those who reside in them, from quiet fishing villages like Pedasi to up-and-coming luxury destinations like Boca Chica.
Rori Ablilia
Do I want to be near a lot of other expats?
Think back to that vision of yours. Whom else did you see in it? Locals? Other expats? No one at all? Knowing the kind of community, or lack thereof, that you want is a major factor in helping you find your dream property in Panama.
Like many who have gone before you, you may welcome the opportunity to live among like-minded individuals who understand where you’re coming from and what you’re going through. If so, you may find that a place with an established expat community provides you with the support group you need to help you more easily acclimate to your new surroundings. Panama City and Boquete are both home to thousands of foreign residents.
If being surrounded by people just like you sounds like it defeats the entire purpose of retiring overseas at all, then you might be better suited for a place like Las Tablas or Volcan. You can find expats there, but they’re carefully woven in among the locals and a little bit harder to find.
If you don’t want to see other expats, or anyone at all for that matter, more remote areas like Playa Burica and the western Azuero Peninsula offer the opportunity to pretend you’re Robinson Crusoe. All alone with your thoughts.
I know where I want to be. Now what?
Once you think you know where you want to settle, the final step is finding your actual piece of paradise. You can start by shopping for properties online. But use caution. Make sure you really feel out the sellers to weed out any that are less than credible.
Buying property in Panama can be challenging, but the key is finding a seller, agent, and attorney you can trust. Asking a lot of questions, even ones to which you already know the answers, is a great way to find out who’s honest and who isn’t.
Once you’ve narrowed your search down to a handful of promising options, plan a trip down to Panama to check them out. Set up meetings with the agent and attorney you plan to work with. Confirm those appointments. Several times, for good measure. When you finally find the right place, a trustworthy attorney can handle much of the actual transaction for you, another reason to make sure you’ve picked a credible one.
Now that you know how to find your dream home in Panama, what are you waiting on? Close your eyes. Get started.