Ocean to the Left of Me, Forest to the Right...

Dear International Living Reader,

I park the Land Cruiser and watch as a lone rider, coming from the direction of the Pacific Ocean, canters across the immense field, heading for the new stables. Looking around the outspread property, I see a forest of native mangrove and African mahogany, as well as groves of new fruit trees intended to attract more songbirds to the area. Two birds sail overhead, drifting on air currents.

I've seen some big properties here in Panama, but Istana Plantations is huge--more than 1,500 acres. I've wanted to visit ever since I saw the Elmores, Istana's owners, present plans for their beach development at a conference I attended two years ago, when the whole project was conceptual. Today, houses are going up and residents are moving in, the heliport is under construction, and a dry dock is available. From the boat ramp you can launch a craft of up to 30 feet. Coiba Island and Hannibal Bank are nearby, and claim to have the Pacific's best sport fishing. A lot has changed since I saw that first presentation, and it's good to see the Elmores' dream coming to fruition.

Istana is different from anything I've seen before in Panama. For example:

* You can get developer financing...with as little as 10% down.

* Oceanfront prices here are 50% less than oceanfront prices for land I've seen closer to Panama City, and on a par with improved land I've seen 50 miles from the ocean.

* Istana has its own native mangrove forest, African mahogany groves, and giant trees growing right up to the beach...all of which are being preserved.

Beachfront lots here are affordable, starting at $45 per square meter; you can get a 3/4-acre lot for $139,900. Villa lots (not on the beach) start at $49,900, and custom home lots (across the street from the beach lots) start at $79,900. Turnkey houses are also available.

Istana isn't for everyone. It can seem remote--more than 11 miles down an unpaved road after you've flown to the city of David. Although David has shopping, car dealers, a mall, and first-rate medical care, it's definitely not Panama City.

But if you enjoy hiking and exploring, want to gallop down the beach at sunset, or gaze at the fascinating wildlife in your own mangrove forest, then Istana may well be for you.

For more information, contact our Panama office at: http://www.il-ireland.com/il/questionnaire/istana/

Lee Harrison
Roving Latin America Editor, International Living

Editor's note: Nicaragua, Uruguay...and now Panama. Lee Harrison is investigating the third country in his quest to find the best beach to stake his claim. As regular readers will know, Lee is searching for two new homes in Latin America--one on the beach, one in the city--after recently selling his home in Cuenca, Ecuador. As his journey continues, we'll keep you posted.