IL Postcard

Live in Panama's Premier Highland Town for $450 a Month

Date: 11/07/2008 Author: Jessica Ramesch

Friday, Nov. 7, 2008

Read more about Panama in International Living Postcards—your daily escape

Dear International Living Reader,

The best view and climate in Panama is in the cool highlands, where fertile valleys and velvety green mountains await. As you approach through the mist, what looks like bright paint splotches turns out to be dense outcroppings of tropical flowers dotting the lush greenery.

I'm talking about the town of Boquete in the Chiriqui province. Real estate values in the town center have shot up over the past six years, making early-in property owners very happy indeed. But you're not too late...newcomers are fanning out from the town center all over the district of Boquete, where bargains still abound in towns like Alto Boquete, Caldera, Jaramillo, Los Naranjos, and Palmira.

In these towns—about 20 minutes from Boquete centro—you can buy three-bedroom, two-bath homes for $75,000 to $150,000. Many of these Panamanian homes come with separate maid's quarters and bathroom, and land of up to a quarter-acre.

Price for land in the town of Boquete ranges from $2.75 to $21.25 per square foot, but head away from the center and prices are as low as 50 cents per square foot. Rentals can be over $1,000 in Boquete town, but in neighboring towns you can rent a place for $450 per month.

That's the great thing about the Boquete district—you can live comfortably on a budget, or splurge and live like a king...for much less that it would cost you in a similar area in the U.S. In upscale gated communities like Los Molinos, Palo Alto, and Valle Escondido, you can buy U.S.-style houses that are spacious and modern. Prices range from $185,000 to $400,000 depending on just how luxurious you want to get. You'll be impressed by the settings and different amenities and services touted at each development...from social areas and luxury spas to health care assistance and property management.

Boquete has been hailed as "one of the world's top retirement havens" by publications like AARP's magazine and Fortune, and with good reason—there's no highland town in Central America that can compete with all Boquete has to offer. It has a cool climate, as low as 65° Fahrenheit at night, with daytime temperatures usually below 80° Fahrenheit. The safe location is unbeatable—the provincial capital of David with its malls, mega-stores, hospitals, and domestic airport is just 45 minutes by car from Boquete. Drive another 30 minutes to reach one of the area's expansive, pristine beaches.

Boquete has banks, clinics, shops, and restaurants, and there are plenty of fun things to do. As the active expat community continues to grow, the variety improves. Residents have access to many of the comforts of home, from high-speed Internet to satellite television. And then there's the extremely low cost of living...expat resident Richard Detrich says: "Buy ahi-grade tuna, freshly caught, for $3 a pound (back home we paid $30), and big shrimp for $6 a pound...and if you don’t feel like cooking, get a savory, satisfying Panamanian lunch for $3."

Jessica Ramesch
Your Panama Insider, International Living

P.S. Now is the time to buy in Boquete...find out why in a full feature article in Panama Insider, your inside line to what’s happening in Panama. From legal and health care issues to Panamanian real estate opportunities and much, much more, Panama Insider covers it all. If you’re seriously interested in Panama, don’t let another month go by without this invaluable research tool. Find out more here.

Read related IL Postcards:

- How I Discovered the Best Beach in Panama

- Panama’s Secret Island Revealed…

- Have You Heard of This Low-cost Panamanian City?