There are many great places to live in Panama. What you want to do with your time and how far you want to be from a flight home will influence your choice. With two sea coasts, a mountainous interior, a historic capital and wilderness areas everywhere, Panama presents the homebuyer with the “drudgery” of having to travel through a tropical paradise in order to choose the perfect place to stay. a house. Besides the pleasure of choosing from a number of excellent locations, the current buyer or investor in Panama can choose from a large number of properties that are currently priced well below what they will be selling for in a few years.
Although the recession did not affect Panama in general, the recession elsewhere reduced the number of foreign buyers, which depressed the high-end housing market. Whether it’s on Avenida Balboa along Panama Bay or on the Pacific beaches around Coronado, there are properties for sale at rock bottom prices in just a few years. The buyer/investor will be advised to keep this in mind when looking for a property in paradise. The following is the author’s list of favorites.
The tuna coast
The old name for the Panamanian Pacific is the Tuna Coast. There is an underwater mountain range that provides mountainous locations for coral reefs and is home to a huge amount of marine life. The entire Pacific Coast, from Darien to Chiriquí, offers world-class sport fishing, scuba diving and boating.
Taboga Island or Saboga Island
Isla Taboga is a Pacific island just half an hour from Panama City by ferry. The island, like the city, was inhabited by Europeans within a generation of Columbus’ first voyage. Flower Island has no cars, pristine beaches, a park covering the summit and most of the perimeter of the island. This island is a gorgeous retreat close to city amenities. Isla Saboga is equally stunning but is further out in the Pearl Archipelago. There are upscale housing estates and older homes dotted around the islands. The ferry service and the airport can take you back to the city at your convenience.
coronado and the beaches of the Pacific
Just an hour up the Pacific Coast, along the Pan American Highway from Panama City, are a series of beaches where Panama’s elite have had their summer homes for decades. Coronado becomes the mall with modern stores and a new mall. Whether it’s a gated community or a little house nestled under the trees, you want this area to have it. Plus, a right turn off the road will take you to the manicured town of El Valle de Anton, resembling an oversized patch of broccoli in the caldera of an extinct volcano. If you like this area, you won’t be the first. There are ancient rock drawings that testify to people living when North America was buried under a mile of ice.
The Azuero Peninsula
Further along the Pan-American Highway is the start of Panama’s Arco Seca, the dry arch, home to most of Panama’s agriculture. The Azuero Peninsula is noticeably drier than most of the rest of Panama and is where cowboys herd cattle inland while fishermen land huge fish offshore. Periodically throughout the year, sea turtles nest along the coastal islands and whales breed in the coastal waters.
Boquete, Volcano and the Chiriquí Highlands
It’s typical when we talk about Panama that we talk about Boquete. This city is an enclave for North American retirees nestled in the shadow of the mountains of western Panama. Up the road is the alpine town of Volcán, nestled under the watchful eye of Panama’s 11,460-foot peak, Volcán Barú. The Chiriquí Highlands are spared the coastal heat, are rich in ecological wonders, and are a great place for rafting, hiking, and birdwatching. In addition, this area is at the end of Panama’s agricultural zone and produces a large part of Panama’s vegetable and flower crops.
Archipelago of Bocas del Toro
Across the Isthmus of Panama from Chiriquí lies the province of Bocas del Toro. The Bocas del Toro archipelago is a paradise for boating, surfing, scuba diving and nature. This area has a number of new high end developments allowing homeowners to enjoy nature and water sports and live in a home with all modern conveniences.
Costa Arriba and Portobello
In the time of the Conquistadors, Spanish gold traveled up the Pacific from Peru to the Pearl Islands where it was inventoried. He then crossed over to the mainland and crossed by mule train to the fortified town of Portobello. This area was named beautiful port by Christopher Columbus on his fifth voyage. With its natural harbour, the town was the site of an annual trade fair. Galleons came from Spain laden with goods and trains of mules carrying gold and silver met at Portabello for decades until pirates sacked the town. Today’s Portabello is a historical site along the Costa Arriba (coast of the town of Colon). This part of the Caribbean coast is ripe for new homes and development, as the towns of Colon and Panama City have just been linked by a four-lane highway cutting travel time to 40 minutes.
panama city
The first European settlement on the Pacific is a mix of history, commerce, old and new. It is a Latin American banking center and the centerpiece of an economy that has grown as rapidly as China’s over the past decade. The nightlife along Calle Uruguay continues until dawn and the casinos are open 24 hours a day. Restaurants serving traditional Panamanian dishes rival kitchens run by chefs trained in Europe and North America. The city’s malls are as upscale as those in North America. On the one hand, there are trendy cafes and boutiques with unique items in newly renovated buildings in the old town, Casco Viejo.
A good time to look for property in Panama
Whether for a home or for an investment, now is a good time to look for property in Panama. Whether it’s a 30th-floor condo overlooking the Pacific or a small hacienda on the Azuero Peninsula overlooking the ocean, prices are depressed but won’t be for long. As the recession subsides and buyers return, they will seek out these little slices of heaven.