Country Article / Postcards

Chiriqui Beyond Boquete

Date: 02/14/2005

Dear International Living Reader,

As a regular reader of these dispatches, you know Panama's mountainous Chiriqui province, primarily because it's home to Boquete, the fastest-growing expat community in this part of the world.

But there's another side to Chiriqui: its oceanside.

David is the capital and biggest city in the Chiriqui region. It's about an hour-and-fifteen-minute flight from Panama City to David, then it's about an hour's drive from David to the ocean. Not everyone is up for that much travel to get to the beach, which is why there are real bargains to be found

Plus, this region has advantages that help compensate for its distance from Panama City, primarily its growing community of expats, not only in Boquete, but throughout Chiriqui.

One local coastal development is catering to this growing market. Istana Plantations is creating a gated community on the ocean about an hour from David. They are offering ocean-view, oceanfront, and true beachfront lots at good prices, but, more important if you don't want to build your own home, they are also offering turnkey units that are an excellent bargain.

These turnkey little houses are available with two or three bedrooms. The two-bedroom/two-bath villas have 1,300 square feet of interior construction and another 870 square feet of terraces and garage space. The developers have carved up some of their big ocean-view lots for this construction, and each villa will be positioned to optimize the view. Finishes will include hardwood windows, doors, and kitchen cabinets. Prices for the two-bedroom units start at $109,900, or $85 per square foot of interior construction. Frankly, I don't believe that you could build these yourself at that price, even without factoring in the land value. Plus, each unit comes equipped with a refrigerator, a stove, and air conditioning in the bedrooms.

The master plan calls for renovating and expanding the original hacienda overlooking the ocean into a guest house/clubhouse. Four guestrooms will be created to accommodate owners while their homes are under construction, as well as guests, plus there'll be a restaurant and a pool. Water and electricity infrastructure is under way. Existing stables have already been renovated, and there is a boat launch, from which it's less than 30 minutes by boat to the David marina.

Our local team in International Living's Panama City office has all the details. Reach them by e-mail: Panama@internationalliving.com

Regards,

Lief Simon
Real Estate Editor, International Living

Important note: In the interest of full disclosure, we want you to know that International Living receives commissions from sales of property at Istana Plantations.