Category: Blog

In recent years, Panama has been enjoying a well-deserved reputation as a fantastic holiday destination. It has also become increasingly attractive as an investment location partly due to its policy of allowing foreign nationals to purchase and own property in the country. Some people purchase property in the capital city itself, where they have easy access to all the conveniences and can enjoy a cosmopolitan living. Others choose to look for properties outside the city, where it’s much more tranquil and residents are surrounded by the country’s natural beauty. One such location is Bocas del Toros, which is quickly gaining popularity for its incredible beaches, the warm welcome given to foreign homeowners, and its potential for growth.

Here we’ll find out more about this province and look at some of the best areas for foreign investors and homebuyers to buy land for sale in Bocas del Toro, Panama.

Overview of Bocas Del Toro

Located in the northwestern part of Panama, the province of Bocas del Toro (or “Mouths of the Bull” in English) is composed of the mainland and nine main islands which include Isla Bastimentos, Isla Carenero, Isla Solarte, and Isla Colon. Together these make up the Bocas del Toro Archipelago. Spanning almost 1800 square miles, Bocas del Toro is a Caribbean gem, with stunning beaches and diverse wildlife. Homebuyers are also drawn to the relaxed lifestyle available here and it has become a melting pot of different nationalities and locals all of whom now call Bocas del Toro home.

Apart from offering countless opportunities to go on wonderful adventures where you can discover its natural charms, Bocas del Toro might also surprise you with its array of restaurants, shops, and nightlife. This is particularly true in Isla Colon, a hub activity in the province. However, Bocas del Toro isn’t heavily developed, which is why you won’t find enormous hotels and resorts and popular retail brands. What you will find here is a more relaxed way of living, with boutique lodgings and small local shops, making it a preferred destination for those looking for something more laid-back.

Bocas del Toro is most easily accessed by air from Panama City; the flight takes about an hour and will land you at Isla Colon’s José Ezequiel Hall International Airport. You can also travel by bus or take a car from Panama City (the drive stretches up to eight hours) and then take a ferry to Isla Colon.

Why choose Bocas Del Toro?

While you’ll find that any location in Panama has its advantages for investors and property owners, Bocas del Toro stands out for several reasons.

First, and probably the main reason land for sale in Bocas del Toro, Panama is so appealing is the sheer beauty of the place. Typical of the Caribbean, Bocas del Toro is famed for its beaches, its lush rainforest, and incredible views of the sea wherever you look. With its unspoiled landscape, it’s no surprise that it’s the home of two national parks, namely, Isla Bastimentos National Marine Park and La Amistad International Park. Moreover, Bocas del Toro—and all of Panama, is spared from hurricanes, giving you peace of mind that your investment will be safe.

Second, property prices here are very affordable, especially in comparison to properties in other parts of Panama. It’s not unheard of to find titled land for sale in Bocas del Toro that spans more than 10 acres and is priced at around $300,000, for example, or even riverside lots of more than 20 acres that are available for less than $200,000. For much less than the typical price of a single-family home in the US, you get expansive open land that truly opens up your options when building exactly the kind of life you want. While these deals are becoming rarer, it’s still overwhelmingly the case that you’ll get so much more for your investment here in Bocas del Toro than you would in most areas in the US.

Third, Bocas del Toro still has so much potential for growth. The province is relatively undeveloped, which so far has kept prices relatively low. Should this change in the future, and as mentioned, the area is becoming more popular, you’ll already have a precious piece of land that’s strategically located and likely to appreciate. With tourism a major economic driver in Bocas del Toro, your property is well-positioned to take advantage of the thriving tourism industry, providing solid returns on your investment.

All these reasons, paired with the excellent health care, political stability, and overall good quality of life in Panama, are exactly why people are flocking to the country to explore the market for the best Bocas del Toro land for sale.

Where to buy land in Bocas Del Toro

One of the primary considerations when buying any piece of property is location. Whether you’re looking for property as an investment or as a home, you want it to be located somewhere with high growth potential and accessibility to ensure convenience and profitability. Prime property in Bocas del Toro can be found in a number of locations.

Red Frog Beach Resort. This resort provides top-quality accommodations on Isla Bastimentos. However, Red Frog doesn’t just cater to temporary guests. It also offers properties such as luxury villas, well-appointed condos, and beachfront lots. While these properties put the resort’s amenities within easy reach, you’ll still be surrounded by nature, offering you all the privacy you need. This area truly is a paradise, providing the perfect balance between convenience and while retaining all the natural beauty of the area.

The community is made of people from all over the world and an international, English-speaking community has developed in the area so you’ll feel at home even in this beautiful tropical location.

Bluff Beach. Located around five miles away from Bocas Town, Bluff Beach is famed for its gorgeous sand and powerful waves ideal for surfing. The place is still relatively untouched and there are even times when you’ll have the beach to yourself. Here you’ll find cabins and bungalows just steps away from the sand, as well as beachfront lots, some of them located in gated residential communities along the beach.

Isla Cristobal. Located south of Isla Colon, Isla Cristobal is home to many banana, cassava, and cocoa plantations. Various types of properties here include off-grid homes, luxury properties with waterfront access, and oceanfront lots with their own private stretches of shoreline.

Isla Colon. Arguably the most bustling part of Bocas del Toro, Isla Colon provides everything you could possibly need, varied accommodations, restaurants, different transportation options, activities, and nightlife. Isla Colon is the point of entry for anyone traveling into Bocas del Toro. If you want to be in the middle of where all the action happens, you can stop here and set up near or in Bocas Town. Here you’ll find a diverse property mix that includes townhouses, condos, duplexes, and villas.

Isla Carenero. This island is a more laid-back version of Isla Colon, with plenty of accommodations and restaurants as well but with a far more relaxed atmosphere. The island has everything from cottages to villas to beachfront properties for sale.

Development in Bocas del Toro continues at a steady pace and it is highly recommended to work with a clued-in local real estate agent who will be able to advise you accurately on any upcoming residential developments in the area and point out any new locations that may be offering land for sale in Bocas del Toro, Panama.

Factors to Consider

When choosing a location, don’t forget the basics. To begin with, do your research on the place, and figure out your budget so you can narrow down which locations fall within your budget but also provide you with your homebuying wants or your investment needs. With the right help, it should be relatively straightforward to find a property that is a perfect match for you.

Exploring your options

It might be a good idea for you to spend some time in Bocas del Toro so you can get to know the place better and see for yourself what it’s like to live here. If you opt to do this, make sure to explore it as thoroughly as possible so you won’t just be getting a tourist-friendly perspective. Some homebuyers opt to rent in a location before buying, giving them a full sense of how well they’ll enjoy living in a location before fully committing to a home purchase.

Convenience

Proximity to Bocas Town is a consideration. This is where you can purchase everything from basic needs to construction materials, so if you’re building a house or any structure, keep in mind that it will involve extra time and costs because the materials will need to be transported by boat or water taxi from Bocas Town to wherever your property will be. The logistics can get even more complex if you’re planning to develop your property, with things like maintenance, power supply, potable water management, and transportation of crew to consider. These are extra expenses for which you should be prepared.

Laws, Regulations, and Process

Aside from looking at your budget and figuring out the best location, you need to be familiar with local laws and requirements so that your transaction pushes through as smoothly as possible. You’ll find that the property-buying process in Panama, while similar, is still a little different from what you’re used to. Fortunately, working with a local real estate agent can help you make sure that any details are ironed out and that you’re informed about any issues with your transaction or even with the property itself. Your real estate agent will conduct due diligence on the property to make sure everything is above board.

Typically, people aiming to purchase land for sale in Bocas del Toro, Panama look for certain features: easy access to the beach and various amenities and utilities, high elevation for great views, and the availability of waterfront space and deck for a boat. However, when purchasing property internationally, you need to keep other things in mind too.

Development rights

You’ll also want to know what you’re allowed to do with your property, that is, what you can construct and where. For example, you may need to apply for concessions for any structures you plan to build over water. This is especially true for tourism-related investments but also if you’re planning to build a home over water. This will require a feasibility study and an environmental impact study, and you also need to own the land behind the place where you will be building.

Regulations for allowing foreign nationals to own property in Panama may be relaxed, but you will need to be well-informed about any legal matters and property laws to avoid any problems.

Find land for sale in Bocas Del Toro, Panama

There’s so much beauty in and around Bocas del Toro that we understand if you’ll find it difficult to choose the right plot. But that’s why we’re here—to not only show you what you’ll love about Panama but also to help you make the right property decisions. We at Red Frog Beach Property take the time to understand your needs and craft the perfect property solutions to help you reach your goals.

To find more information about land for sale in Bocas del Toro, Panama, or to simply learn more about our services and your real estate options in Panama, call us at 281.892.1344 (US) or +507.6951.6518 (Panama), or send us an email here. We’re looking forward to hearing from you!

Selling your home in Bocas del Toro? You’re in good luck. The province’s rainforests, pristine beaches, and slow-paced lifestyle continue to attract potential homebuyers from different parts of the world. Below, we’ll discuss several things you can do to boost your property’s value and make it stand out among other homes for sale in Bocas del Toro.

SHOULD YOU MAKE CHANGES TO YOUR HOME BEFORE SELLING?

If the changes are thoughtful and well-planned, the answer is a resounding yes.

With Panama’s sustainable growth rate and continued development, more and more investors are seeking homes for sale in the country, especially Bocas del Toro. After all, it’s becoming one of the most popular expat destinations in the Caribbean. As a result, the local real estate market is hot.

Buyer demand and interest are not the only factors that are driving the prices of homes for sale in Bocas del Toro. They’re also the result of smart planning on the sellers’ part. Many property owners in the province have upgraded their homes to boost its value and generate more warm leads.

The changes you make to your home before selling can range from small but meaningful repairs and upgrades to complete overhauls. Consider some of our suggestions:

Increase the curb appeal of your property

Curb appeal refers to your property’s street attractiveness. It’s what captures the attention of people, including buyers who are passing through the neighborhood and those who are looking at online listings. Your property’s curb appeal is the key to making a great first impression– integral if you want it to stand out from other homes for sale in Bocas del Toro.

• Spruce it up: Cleaning up the exterior of the house is one of the cheapest and quickest ways to improve your property’s curb appeal. Make the entryway spotless, power wash the driveway, clear the gutters, and make sure the windows are sparkling clean.

  You can also repaint the door a fresh color, install new house numbers, or add more exterior lighting. Doing all of this will communicate to potential buyers that the house is well-maintained and loved.

• Add landscaping features: Whether your property has a back-, front-, or side yard, consider adding elements that can make the landscaping pop. For example, stone pathways add a nice contrast to any green yard. Furthermore, they clearly communicate where people should go and help maintain other parts of the space in the process.

  If the yard or garden is so far bare, plant beds that feature popular local shrubs and flowers can bring more life to the area. After all, nothing says “island paradise” better than a tropical garden in full bloom. Plants that love Panama’s warm climate include Madagascar periwinkles, jungle geraniums, and the Ti plant. If your property already has a few trees, take care of them– they can add 10 to 20% to the house’s market value.

Make the property energy-efficient

Improving your home’s energy efficiency can add significantly to its overall market value. When sustainable features are available, investors will surely take notice.

• Solar shading: If your property has areas exposed to daytime heat, solar shading will help keep these rooms cool and decrease energy costs in the process. One of the natural ways to protect these spaces from solar heat is by installing plants and trees near these areas. Attaching screens and shutters is another option: it can protect your doors, windows, and walls from gaining heat from the sun.

• Natural or passive ventilation: Architectural features can directly improve ventilation by naturally moving air throughout the home. While installing ceiling fans throughout the house can increase air movement, if it’s possible, consider improving air flow by making changes to the building’s doors and windows. Their location, size, and material can all contribute to how the air flows inside the house.

• Thermal insulation: While sun-worshippers move to Bocas Del Toro for its warm climate, they prefer indoor spaces that are fresh and cool for comfort and relaxation. A home’s insulation should be able to reduce heat gain significantly during daytime. This is done by using reflective foil or similar materials on the warm side of bulk insulation. Proper insulation minimizes heat transfer in your home and lessens the need for excessive cooling.

• Efficient lighting: An abundance of sunlight makes it easy to provide natural lighting in the home. You can simply highlight this by using window accessories, such as curtains and blinds, that let natural light through. Installing LED lights in your home can also lessen electricity consumption in the nighttime. Consider the ones that can be remotely controlled through an app– it’s both an energy-efficient and smart upgrade.

• Water filtration system: Tap water in Panama is generally safe to drink, but if you want to err on the side of caution, having a water filtration system will benefit you– and the property’s eventual new owner– in the long run. This cuts the need to constantly purchase purified bottled water and ensures whoever lives in the home always has access to clean drinking water.

• Renewable energy sources: Installing renewable energy sources requires a pretty significant investment. However, it can also result in a major return on your investment. Solar power is one of the easiest to harness in a country that receives plenty of sunlight like Panama. You can also look into whether you can link the property to hydropower– Panama already uses roughly 54% of this renewable energy to power the country anyway.

RENOVATIONS AND REMODELING

If you have the luxury of time and other resources, you might also want to consider making notable changes to your property before selling. When planned and done right, it can generate the highest returns on your investment. And when it’s listed, the property will be able to compete well with other homes for sale in Bocas del Toro.

High-ROI projects

You don’t have to renovate the entire property in order to increase its market value. Instead, you can focus your attention on specific rooms and areas:

• Minor bathroom remodel: All you really need to do is update a bathroom in the property to enjoy returns on your investment of up to 102%. Some of the things you can do include re-tiling the bathroom, changing the hardware, and swapping the old shower head with a relaxing rain shower.

• Landscaping: Remember the importance of curb appeal? Improving the property’s landscaping can easily give it a face lift. As previously mentioned, consider planting local flowering plants and shrubs, trim existing trees, and make sure the plant beds and pathways are clean and trimmed.

• Minor kitchen remodel: No buyer wants an old and musty kitchen. After all, it’s the heart of the home; it should be clean, inviting, and as much as possible, updated. The most effective way to tackle this project is to upgrade the existing appliances with energy-efficient ones. Meanwhile, cabinetry can be refinished, repainted, and fitted with new hardware to seem brand–new.

• Window replacement: New windows throughout the house can make the entire property look new. But more importantly, a brand-new set can also drastically improve its overall energy-efficiency. For countries with hotter climates such as Panama, e-glass windows are highly recommended: it reflects heat, has high insulative properties, and protects the inside of the home from UV radiation.

Waterfront & dock enhancements

In Bocas del Toro, homes for sale along the waterfront are especially coveted: they are the crème de la crème of the local real estate market. But while they’re already sought-after for the virtue of its location, there are still a few things you can do to increase its value:

• Add (or improve) a dock: A dock greatly increases the value of your waterfront property and gives you a solid return on investment. The direct access to the water for fishing, boating, and other activities is a valuable feature that most homebuyers of waterfront real estate look for, especially if the waters off-coast are on the deeper end. A dock can also extend the property’s outdoor living area and serve as a great spot for waterside relaxation and entertainment.

  If you already have an existing dock, you can elevate your waterfront property by keeping the dock well-maintained. A powerwash of the area or a paint job can make your dock look new again. For safety, you can upgrade its components with stronger materials with guidance from boat dock inspectors. You can also increase its potential through dock expansion options like installing a finger pier or floating sections.

• Set up outdoor storage: Having an outdoor storage for water equipment like boats, kayaks, and canoes can set your property apart from other waterfront homes for sale in Bocas del Toro. Be it a portion of the garage area or an actual storage shed, having ample space to store and organize recreational equipment can be a good selling point for a property.

• Add hardscaping elements: Hardscape features are made of natural or artificial hard materials. These include retention walls, paving, stones, or patios and decks. These hardscape features provide safe access to the different areas of a waterfront property — a must for growing families or retiring adults. For budget-friendly projects, you can add a fire pit, outdoor seating, or paved paths leading to the water.

Security & other safety features

While Panama is a relatively safe country to live in, you can never go wrong with installing security and safety features to increase a home’s value. As a vacation and retirement destination, buyers consider having peace of mind a top consideration when looking at properties.

• Take care of the property’s perimeter: While it can come as a surprise to most people, perimeter walls can increase the value of a home for two reasons: its potential to add decorative appeal and its practical function. Gates should be well-oiled and provide seamless entry. Placing outdoor lights across the property are also excellent ways to improve safety and security.

• Install a home security system: You can leave specific home security features to the discretion of the next owner, but it doesn’t hurt to have the essentials installed. These include CCTV surveillance, basic burglar and fire alarms, and detectors for smoke and carbon monoxide. You can take the extra step of adding provisions for upgrades to make things easier for the property’s eventual new resident.

Smart home upgrades

According to Tech Jury, 81% of homeseekers are more likely to buy a new home that features smart technology. They also tend to command higher prices than tech-deficient homes. But like home security systems, it’s best to let the buyer decide just how smart they want their home to be. Stick to basic but useful upgrades such as:

• Automatic control: An automation system wherein tasks are activated on certain schedules or in specific conditions would be an impressive selling point– it can make your property seem more move-in ready than other homes for sale in Bocas del Toro. You can program blinds to open and close with the sun’s position. Lights can be turned on or off by setting a schedule or through motion sensors.

• Remote control: Another option is to install home features that can be controlled remotely using an application. Earlier, we mentioned LED lights, but this feature can also be extended to the home’s curtains, entryways, and even the CCTV cameras and alarms.

LEARN FROM BOCAS DEL TORO, PANAMA REAL ESTATE EXPERTS

When it comes to turning your home into a highly desirable property, local real estate companies know best.

Working with real estate agents who specialize in Bocas del Toro real estate can give you valuable information on what buyers are looking for and how to increase the value of your property. With their help, you can make informed decisions about turning your home into a fruitful investment.

Sell your home in Bocas del Toro with confidence

Our real estate team at Red Frog Beach Resort utilizes our extensive knowledge of the local real estate market and network to sell homes for sale in Bocas del Toro at the best possible price.

Get in touch with us today by calling 281.892.1344 (US) or +507.6951.6518 (Panama). You can also send an email inquiry here.

Imagine waking up to the sound of the ocean, with the promise of thrilling water sports adventures right at your doorstep. Bocas del Toro isn’t just a tropical paradise; it’s a haven for water sports enthusiasts. Here are 4 water sports activities that make Bocas del Toro an irresistible destination for those seeking adventure by the sea:

SURFING

Bocas del Toro has made a name for itself with its globally acclaimed surf breaks, captivating surfers worldwide, including the renowned pro surfer Kelly Slater. For beginners taking on their initial wave, Black Rock on Caranero Island is an ideal starting point. Meanwhile, seasoned pros can explore the coveted surf spots Silverbacks or Long Beach, both situated on Bastimentos Island, the very same island where you’ll find Red Frog Beach Resort.

If you’re in search of surf lessons or surf rentals, reach out to Mono Loco Surf School for an unforgettable surfing experience tailored to your preferences.

SCUBA DIVING

Dive into the enchanting underwater world of Bocas del Toro, Panama, where crystal-clear Caribbean waters and vibrant coral reefs create a haven for scuba diving enthusiasts. Renowned for its diverse marine life, including playful sea turtles and colorful tropical fish, Bocas del Toro offers a scuba diving experience like no other. Explore world-class dive sites suitable for all skill levels, from the captivating coral gardens of Zapatilla Cayes to thrilling drift dives at Hospital Point. With reputable dive centers and unique underwater landscapes, Bocas del Toro beckons both seasoned divers and beginners alike to discover the magic beneath the waves.

Whether you’re looking to obtain your PADI certification, take your first plunge into diving, or enhance your skills with specialized training, Bocas Dive Center has everything you need. Reach out to them to explore your possibilities.

SNORKELING:

Dive into the crystal-clear waters and discover a vibrant underwater world. Bocas del Toro is home to stunning coral reefs teeming with colorful marine life. Snorkelers can explore the beauty of the ocean without the need for scuba gear. One of the must-visit snorkeling destinations in Bocas del Toro is the aptly named Starfish Beach. As you snorkel along the shallow, sandy bottom, you’ll discover a multitude of vibrant starfish dotting the ocean floor. This picturesque setting, with its calm and clear waters, provides an ideal spot for snorkelers of all levels.

STAND-UP PADDLE BOARDING:

Bocas del Toro’s unique blend of calm waters, diverse landscapes, and vibrant community make it the perfect destination for stand-up paddle boarding. The accessibility of SUP in this tropical haven allows residents and visitors alike to incorporate this peaceful water activity into their daily lives. The Red Frog Beach area, in particular, offers stunning mangrove channels where kayakers can witness the delicate ecosystem up close, teeming with vibrant birdlife and marine creatures. So, if you’re seeking a balance of adventure and tranquility, consider stand-up paddleboarding in Bocas del Toro.

To truly embrace the spirit of coastal living and experience these water sports firsthand, we invite you to book a real estate tour with us. Our curated selection of properties ensures that you not only have a home but a gateway to endless adventures.

Ready to make waves in Bocas del Toro?

SCHEDULE A CALL TODAY AND LEARN MORE ABOUT RED FROG BEACH RESORT

Please call our office at 281.892.1344 for inquiries. You can also contact us here.

In the meantime, check out our available properties for sale in Panama

Panama’s Caribbean coast is known for its crystal-clear waters, calm waves, and white-sand beaches. Hundreds of islands are found on the Caribbean side of Panama, many of which are uninhabited. These islands are a haven for outdoor water activities, including swimming, snorkeling, scuba diving, spearfishing, and surfing. Those who’d rather stay on land can enjoy rainforest and jungle hikes, ziplines, spas and lounges, or sample the vibrant local cuisine. Whether you’re a water baby or a landlubber, you’re sure to have a great time on the Caribbean coast.

Amid these pristine natural wonders, you can find amazing opportunities for luxury living. Panama’s Caribbean coast features gorgeous upscale homes offering stunning views and a diverse range of recreational options.

Want to have your own slice of this tropical paradise? Here’s everything you need to know.

A brief look at Panama

Panama is located in Central America and is bordered by the Caribbean Sea to the east and the Pacific Ocean to the west. Lying between Colombia and Costa Rica, it is less than five hours by plane from major US cities like Miami, Los Angeles, and Washington DC. Its currency is currently pegged at parity to the dollar.

If you enjoy balmy weather, you’ll be sure to love Panama’s tropical climate. Temperatures and relative humidity are uniformly high and there is little seasonal variation. Panama has the distinction of being one of only three countries in the world to be carbon negative, meaning that it absorbs more carbon dioxide than it releases into the atmosphere. Its tropical environment supports a plethora of plants and wildlife, making it a great destination for nature-lovers.

Panama was inhabited by indigenous tribes before the Spanish arrived in the 16th century. The Caribbean Coast is the first location that the Spanish settled. Since then, many others have been drawn to this area’s vivid natural beauty. Panama’s Caribbean Coast encompasses over 1,000 miles of pristine beaches and includes the islands of San Blas, Isla Escudo de Veraguas, Isla Grande, and Bocas del Toro.

THE CARIBBEAN COAST’S ARCHIPELAGOS AND ISLANDS

Bocas del Toro

There are many outdoor activities to do in this stunning group of islands, such as scuba diving, zip lining, hiking, and sailing. An exploration of the area will reveal unique tropical species, shipwrecks, underwater caverns, and other fascinating finds.

Here’s a closer look at the islands that make up Bocas del Toro.

• Isla Bastimentos

  Isla Bastimentos is one of the largest islands in Bocas del Toro. Here, you can find the authentic Afro community of Old Bank, as well as the Bastimento National Marine Park, which has the distinction of being Panama’s first marine park.

  Isla Bastimentos is also known for its wildlife and the contrast between its uninhabited beaches and those with villas and resorts. Pro and advanced surfers flock to Isla Bastimentos to experience its unruly waves. Thanks to its rainforests, this island is also a premier hiking destination. Meanwhile, chocolate lovers shouldn’t miss the cacao farms on Isla Bastimentos.

  There are three popular beaches on Isla Bastimentos:

  • Red Frog Beach

    Tourists love this pristine beach where you can do a number of outdoor activities, such as water sports and a zip line. You can also get a day pass to Red Frog’s Beach Club. For those who’d rather stay indoors, there are a number of bars, lounges, and spas for you to enjoy.

  • Wizard Beach

    You’ll need to trek for thirty minutes through the rainforest to reach this beach, but it’s definitely worth it. There’s practically no development, so all you need to do is sit back, relax, and unwind.

  • Polo Beach

    If you’re looking for wildlife and calm blue water, you’ll find it at Polo Beach. If you’re lucky, you might meet Old Bank resident Polo, who might just treat you to a special home-cooked meal.

  Interested in Isla Bastimentos real estate? Properties for sale here include residential lots, simple one-bedroom and two-bedroom houses, and mansions with up to 15 bedrooms. Prices range from over $100,000 for undeveloped lots to over $3 for multiroom mansions.

• Isla Carenero

  Isla Carenero is only two minutes away by water taxi from the main island of Isla Colon. Although you can walk around this small island in an hour, you’ll find a number of beaches, bars, and hotels to keep you occupied, as well as a number of famous surf spots, such as The Point and Black Rock. There are surfing locations for all levels.

• Isla Colon

  Isla Colon is the main island in Bocas del Toro and home to the provincial capital, Bocas Town. It is the only island among the four with paved roads. If you’re looking for a large variety of accommodation, such as luxury hotels, bungalows and hostels, you’ll find them here at Isla Colon, along with a wide range of tours and activities, international food, pharmacies, stores, and ATMS. If you’re looking for happening nightlife, this is also the island to visit.

  There are two popular beaches on Isla Colon – Bluff Beach and Starfish Beach. Bluff Beach is perfect for surfers and beachcombers, as well as those looking for fresh seafood. If a refreshing swim is more up your alley and you’re okay with crowds, head to Boca del Drago on Starfish Beach.

  If you’re interested in buying real estate on this island, lots and one- and two-bedroom houses here can range from over $70 thousand to over $1 million, depending on their acreage.

• Isla Solarte

  If you prefer a quiet beach vibe, visit Isla Solarte, which can be found west of Bastimentos and southeast of Colon. There are vibrant expat communities in the southern and eastern parts of this island. Drop by Hospital Point, a popular snorkeling spot that is also a historic landmark.

San Blas Islands

The San Blas islands are part of the Guna Yala, an indigenous territory governed by the Guna indigenous group. Be ready to go back to the basics: on these islands, you’ll stay in thatched huts without heated water, or pitch a tent. For a unique experience, you can also stay on board a sailboat and sail from one island to another. For amazing snorkeling, head to Isla Perro. Meanwhile, Playa Chichimei is popular with backpackers. Other excellent islands to explore include Bane Dub Island and Robeson Island.

Isla Grande

Don’t be fooled by its name. This is a peaceful and beautiful island that is home to around 1,000 residents. As they’re mostly of African descent, you can enjoy local Afro-Caribbean cuisine that uses ingredients like curry, coconut, fresh seafood, and local vegetables.

Don’t miss Isla Grande’s remote beaches, which have palm trees, stunning turquoise water, and fine white sand. Surfers should head to the northern and western sides of the island in order to catch waves. For snorkeling, diving, and spearfishing, head to the southern coast. You can buy a day pass for the more popular beaches or find a remote beach that you can have all to yourself.

Isla Mamey

Isla Mamey is part of the Portobelo district, a historic port in the province of Colon and a UNESCO World Heritage Site. Like much of Panama’s Caribbean, it is a pristine island lined with palm trees filled with a number of beaches and warm blue water.

Isla Mamey is a popular snorkeling and diving destination, as well as a great place for overnight camping. For excellent surfing, head to the western side of the island.

REAL ESTATE FOR SALE IN PANAMA’S CARIBBEAN COAST

Panama is the perfect place to search Caribbean homes for sale. Work with a trusted Caribbean realtor to help you find your dream home or investment property and navigate your many options.

Real estate properties in Panama include:

1. Residential lots

   If you’re looking to build your future Panamanian home, check out Caribbean land for sale. You can choose from beachfront or hillside lots with an ocean view. In Bocas del Toro, you’ll find lot sizes ranging from 0.46-square foot to over 37 acres, priced from around $200,000 to over $1 million.

2. Cliff condos

   An excellent option for relatively more affordable Caribbean homes for sale in Panama is a cliff condo. If you don’t mind not having a beachfront property but would still like an ocean view, a cliff condo in Bocas del Toro may be the perfect choice. You can buy a 646-square-foot, one-bedroom condo for over $200 thousand, or a fully furnished 1982-square-foot two-bedroom condo for around $500,000 to over $600,000.

3. Studios and one- to two-bedroom condos

   You can get a 375-square foot studio in Bocas del Toro for over $100 thousand. Expect to pay over $200,000 for a 764-square-foot one-bedroom suite and over $300,000 for a 1,291-square-foot two-bedroom suite.

4. Lodges

   Tropical lodges offer the ultimate in luxurious jungle living. In Bocas del Toro’s Red Frog Beach Resort, you’ll find charming lodges made of natural materials that blend perfectly with the unspoiled environment. A 600-square-foot one-bedroom with a loft and one bathroom may cost you around $275,000 or more. Expect to pay over $400 thousand for a 1,490-square-foot two-bedroom lodge with a loft.

5. Villas

   If you prefer a larger property, ask your Caribbean realtor about villas. These deluxe digs are the epitome of luxury. Villas that range from over one thousand to three thousand square feet with two to three bedrooms can cost over $500,000. Expect to pay from around $700,000 to over $800,000 for a three- and four-bedroom villa that spans over two thousand to three thousand square feet. Villas with around four thousand square feet or more with four to six bedrooms can cost well over $1 million.

   Make sure to be upfront with your realtor regarding your needs and budget so that they can guide you to the perfect property. With such a wide variety of real estate to choose from, you’ll be sure to find the best property for you. Just make sure to do a thorough survey and don’t forget to do your research.

WHY INVEST IN PANAMA’S CARIBBEAN COAST?

To many, the Caribbean Coast’s beautiful beaches and natural surroundings are enough reasons to own a home in the area. But you get even more benefits when you invest in real estate in Panama.

1. Favorable tax system

   Panama’s Law No. 8 provides tax benefits and financial incentives to investors who put in as little as $50,000 in a tourism project, such as cabins for rent, restaurants, and beds and breakfasts. These perks include:

   • Import tax exemptions on capital goods for 20 years
   • Tax exemptions on real estate assets for 20 years
   • Exemption on airport and pier tax use
   • Accelerated depreciation of 10% per year for real estate assets

   In addition, Panama’s property taxes are among the lowest in the Caribbean. Investors and property owners can also take advantage of transfer tax and capital gains tax incentives provided they meet certain requirements.

2. Political stability

   Panama is one of the safest countries in Central America & the Caribbean according to the Global Peace Index and the World Bank. It has had a stable, democratic government since 1989 and remains a prime tourist destination.

3. Economic growth

   Panama has a solid banking system and a dollarized economy. Its average GDP growth from 2020 to 2022 was 5.88%, and the World Bank forecasts growth of nearly 6% in the medium term. The country has experienced consistent growth since 2005 and ranks as the 66th most competitive country out of 140 countries assessed by the World Economic Forum’s Competitiveness Report. Moreover, in the past 30 years, the annual inflation rate in the country averaged only 1.4%.

4. Excellent quality of life

   Living in Panama, you can enjoy a luxurious tropical beachfront lifestyle all year round – and you get all that for an affordable price. Real estate prices in Panama are highly competitive with similar countries in Central America and the Caribbean. The cost of living in the country is also much lower compared to the US, Canada, and many others. In addition, seniors and foreigners receiving a pension from their home countries enjoy special discounts and exemptions.

5. High-Quality healthcare

   Panama is known for its high-quality healthcare at costs that are much lower compared to North America. Expect larger cities to have excellent hospitals and specialists. Another bonus is that most doctors in Panama speak English.

6. Language convenience

   Although Panama’s main language is Spanish, many locals speak English, so talking with them won’t be a problem.

Enjoy the best of living in Panama at Red Frog Beach Resort

Red Frog Beach Resort offers the perfect luxury island living in Panama, offering stunning condos and other beachfront properties in the highly coveted Bocas Del Toro Archipelago.

Red Frog Beach Resort has been recognized by travel and international real estate experts for its beauty, convenience, and wealth of activities, as well as for its efforts in sustainability. It has also been featured in numerous shows and publications including HGTV House E! News, Forbes, World Property Journal, and The Washington Post.

Choose the best property for you in this award-winning resort and enjoy the luxury Caribbean coast lifestyle all year round.

Feel free to call us at 281.892.1344 (US) or +507.6951.6518 (Panama) to learn more. You can also send an email inquiry to realestate(at)redfrogbeach(dotted)com.

Bocas del Toro in Panama provides investors and buyers with an alternative option to investing in the US mainland. But why would you?

For a start, there’s the lifestyle, with the area being similar to that of a Caribbean paradise but at a price point significantly less than more established locations. Boca del Toro offers tremendous value, and what would be considered a luxury home elsewhere, can be bought at very attractive prices. Then there’s the flourishing community of foreigners who’ve already discovered the area and have made it their home, which makes it easy for new residents to transition and integrate into the community here. Favorable business and government legislation has created an environment that encourages foreign investment and an extensive program is in place to continually make the region even more attractive.

All this and more have made Boca del Toro a compelling consideration when it comes to where to invest. Here, we’ll guide you through what you need to know if you’re thinking of investing in Boca del Toro real estate.

BOCAS DEL TORO AT A GLANCE

Bocas del Toro borders Costa Rica and the Caribbean Sea towards the northwestern part of Panama and attracts residents and tourists looking for a more off-grid and Caribbean lifestyle. It’s easy to see why people automatically think of white sand beaches and beautiful mounts, but there’s more to Panama than meets the eye. This country presents an excellent investment opportunity for those looking for real estate where they can experience a new adventure as well as make a shrewd and profitable investment.

Buying Bocas del Toro homes for sale means living within a tropical rainforest climate with consistently warm temperatures throughout the year. Enjoy the ocean breeze, and with only two or three wet months each year, you’ll have a home that is not only picture-perfect but also ideal for renting out.

Quick Facts:

• Bocas del Toro consists of three primary islands—Isla Colon, Isla Carenero, and Isla Bastimentos. Bocas Town is located in Isla Colon and acts as the main area with hotels, restaurants, bars, and shops.
• Panama has its own currency (Panamanian Balboa), but U.S. dollars are widely accepted and easy to convert.
• Spanish is the primary language, but the majority of locals speak English.

BOCAS DEL TORRO REAL ESTATE

Panama is considered one of the best residential destinations in the world to invest in because of its outstanding growth over the past two decades. Located in the southernmost part of Central America, Panama boasts unparalleled natural beauty and reliable infrastructure, leading to a business, real estate, and tourism boom.

When it comes to property for sale in Bocas del Toro, the options are diverse. Bocas Town is great for investors looking for fantastic opportunities in emerging markets. Prospective buyers can own anything from a titled hilltop home with a view of the water and jungle villa to a waterfront mansion or luxury condo.

Panama has seen a relatively stable and steadily growing real estate market since 2005. Following the recession and the COVID pandemic, the economy and the travel industry have picked up, and more and more professionals are relocating to Panama’s Bocas del Toro. Realty options are expansive, and both commercial and residential properties are selling, and are likely to continue to do so in the foreseeable future.

With the continued development of infrastructure and resorts, tourism has risen by an average of 10% since the early 2000s. Investors looking to purchase properties—whether for business or residence—will find even ever greater expansion and development throughout the islands.

WHY INVESTING IN BOCAS DEL TORO REAL ESTATE IS A GOOD IDEA

Panama has been a long-time investment haven for European, American, and Latin American investors who enjoy the favorable business and lifestyle conditions. Here are the top reasons why more and more people are turning their attention to Bocas del Toro Real Estate.

1. Affordable real estate prices
   Housing in Bocas del Toro costs about one-third of what you would spend in the United States, and you’re never more than 20 minutes from the beach. While rentals vary per area and on the accommodation type, Bocas del Toro is generally affordable. Actually, renting an apartment or buying Bocas del Toro real estate is more cost-effective than in most other cities in Panama.
2. Low cost of living
   The cost of living in this region is relatively low, not only compared to North America’s daily cost of living but also to other places in the Caribbean. It’s relatively easy to live an enjoyable life in Bocas del Toro on about $1,000 to $1,500 a month. This amount would cover a decent rental, recreational activities, all grocery needs, and still be enough for you to hire a few extra services like house help.
3. Booming tourism industry and rental income potential

   

   Bocas del Toro presents a location that offers a balanced blend of tranquility and the opportunity for adventure. Until fairly recently most tourists visiting Panama only went to Panama City, which indeed, has world-class attractions. However, over time, many adventurous visitors are opting for unspoiled natural sites, which you’ll find in Bocas del Toro. Diving and snorkeling are amazing on Panama’s Pacific side, especially Bastimentos in Bocas del Toro.

   It’s a favorite tropical destination, and with the increased arrival of guests and tourists, buying Bocas del Toro homes for sale and opening them up as rentals, there is the opportunity to generate lucrative income streams for owners. For those looking to also use the property, renting out short-term provides you the flexibility of having a holiday home, whenever you want.

4. Tax benefits for foreign investors
   Panama’s tax policies favor foreign investors. For example, foreign investors and their businesses have similar rights as Panama natives and are free to participate in trade, industry, import, and export.
5. Developed expat areas
   The steadily increasing number of expats who have created communities in the country over the past decade, means there are now established active networking groups that hold regular community events and activities. Integrating into a community is very easy with foreign investors, from the United States and Europe (most of whom speak English) looking to eagerly welcome new residents.
6. Opportunities for eco-friendly and sustainable living
   If you’re looking to live a more environmentally conscious life, Panama’s simple, laidback lifestyle will help you do your part. Many areas in Bocas del Toro remain relatively untouched, allowing residents the ability to not only enjoy a certain wilderness but also lower their carbon footprint.

TWO TYPES OF HOUSING OWNERSHIP: TITLED OR RIGHTS OF POSSESSION

In Panama, properties are either titled or designated as Rights of Possession—all the land that’s not registered as owned, by default, is owned by the government. Rights of Possession was an initiative introduced to provide land rights for indigenous people. While it does allow people to claim land, it does not automatically entitle ownership. Those with the Rights of Possession must maintain a constant presence on the property, or else someone can claim it. This can prove problematic for both buyer and seller when it comes to the financial sale of ROP land.

When buying property for sale in Bocas del Toro, it is strongly advised that you purchase only a titled property. Working with a reputable local real estate agent will ensure that investors are only provided with secure investment options.

TOP NEIGHBORHOODS IN BOCAS DEL TORO FOR REAL ESTATE INVESTMENT

Choosing where to stay in Bocas del Toro can be a tricky task for people who are not familiar with the area. Here are some areas you may want to consider:

Red Frog Beach Resort

Red Frog Beach Resort is an island community composed of luxury condos and other beachfront properties in Bocas Del Toro. This 20-square-mile island oasis has a secluded villa community, jungle village, private beach club, and full-service IGY Marina.

Red Frog Beach Resort is a multi-awarded property recognized for its green initiatives. The development has preserved 80% of the island property and uses sustainable energy to ensure environmental sustainability. It received the TripAdvisor Travelers’ Choice Award for 2019 and 2020. It has received the reputable Green Globe certification three years in a row, highlighting Red Frog Beach Resorts’ commitment to sustainable tourism practices. Some other accolades received by the resort include the Central and South America Property Awards.

Isla Bastimentos

Bastimentos is the home of Panama’s first national marine park and the Caribbean town of Old Bank. The charm of this town lies in its authentic Caribbean community where locals speak Guari-Guari. This is a laidback alternative to Bocas Town and features picturesque beaches like Wizard Beach and Red Frog Beach.

Bocas Town

Bocas Town is located in Isla Colon, the central island hub where you will find essential services and infrastructure, such as the airport, hospitals, hardware stores, restaurants, and bars. Still a paradise, Bocas Town also provides easy access to all amenities and conveniences. There’s an active night scene in the area and bars are a popular way to spend your nights in Bocas Town.

Big Creek

Big Creek is a mere 10 minutes from Bocas Town and is a quieter residential community with newly built homes and condominiums. During a walk around Big Creek in the morning, you’ll likely find residents walking or jogging with their pets on the beach while others have already taken their paddle boards out to hit the clear waters. Big Creek is ideal for those who prefer to enjoy the more natural charms of the islands.

Bluff Beach

Choose this area if you’re looking for a beachfront home. Located on the island’s eastern side, about half an hour from town, this is where the beach meets the jungle. Discover beachfront homes close to the jungle and the wildlife that comes with it. Bluff Beach is known for its fantastic beachfront restaurants and bars.

Boca del Drago

Although a bit further out than the other neighborhoods mentioned, this is one of the emerging communities in Bocas del Toro. Boca del Drago is 45 minutes from the town but offers stunning beaches, stretches of agricultural land, and beautiful sunsets.

FACTORS TO CONSIDER WHEN BUYING BOCAS DEL TORO INVESTMENT PROPERTY

Buying a property for sale in Bocas del Toro has never been easier but as with any property investment, there are still several considerations.

Location and proximity to amenities

If you’re looking more towards access and convenience to services, you’ll likely prefer investment options in Bocas Town, or at least near it. Opting for somewhere near Bocas Town will have a higher price tag and potentially more interest should you choose to sell the property down the line.

If you’re looking for a more isolated residence, living further away from the city on one of the less populated islands may be a more appealing choice.

Property type and style

Real estate in Boca del Toro comes in all types and sizes, and an investor is spoilt for choice. Bear in mind that waterfront homes are ideal for properties that you may want to rent out, as well as being beautiful vacation homes.

WORKING WITH BOCAS DEL TORO REALTY PROFESSIONALS

It’s highly recommended to use reputable real estate professionals when buying real estate in Boca del Toro. Apart from the before mentioned protection they provide in ensuring that the property you invest in has no title issues and can be sold to you without difficulties, real estate agents provide an array of other benefits.

A good real estate agent will carefully listen to your reasons and aims for investing in Boca del Toro, which will allow them to zero in on a perfect match for your lifestyle, budget, and financial goals. As well as providing you with administrative and legal guidance, they can also be a resource for moving and integrating into a new life.

For more information on Bocas del Toro real estate, feel free to get in touch with us by phone at 281.892.1344. Alternatively, send an email inquiry to realestate(at)redfrogbeach(dotted)com. Let’s explore your options and begin your journey to paradise.

An often repeated piece of investment advice is that purchasing real estate is always a smart move that practically guarantees that you’ll at least double your investment down the line. While in general, property values only do seem to keep going up, it’s still important for you to consider the place you’ll be investing in and its potential for growth. There are many factors that make a city or even a country an attractive investment destination, from the available infrastructure, the exchange rate, to the economy

If you’re setting your sights internationally, you may want to take a good look at Panama. With its attractive location, robust economy, and openness to foreign investors, this Central American paradise can provide you exactly what you’re looking for – whether it’s a property investment that you’re hoping to grow or simply a piece of land that will play host to your second home.

Panama has already welcomed many foreign buyers of real estate; you’ll want to have all the information you need to make sure that the process goes smoothly for you.

GUIDE TO BUYING PANAMA LAND FOR SALE

The boom in the Panama real estate market began in the mid-2000s, with the government opening up the market to foreign investors to help finance the construction of real estate and various infrastructure. Still, the conditions have to be right to get any foreign investor interested, and fortunately, Panama has much to offer.

Let’s count the ways:

• Panama is considered one of the most politically stable countries in the region. The country also offers generous tax incentives for investors, and its strong economy, which has been bouncing back since the pandemic, with a growth of 13.5% in 2022 compared with the previous year. It also helps that Panama has a dollarized economy, allowing it to avoid risks and offer a more stable investment climate.
• Panama is gorgeous. The country is blessed with sweeping shorelines, sparkling blue waters, lush rainforests, and an abundance of wildlife, making it a stunning location for anyone looking for a second home or a place to retire to.

If you have your heart set on buying available Panama land for sale, here are the steps you need to take:

1. Find a local real estate agent

   Experienced, reliable ones are members of Asociación Panameña de Corredores y Promotores de Bienes Raíces or The Panamanian Association of Real Estate Brokers and Promoters (ACOBIR). Working with a local real estate agent will help you walk into the process armed with important information and knowledge about your chosen neighborhood.

   Your real estate agent will give you a truthful, complete picture of the real estate market in the country, find good deals, and help you get to know the country better before you move. Preferably, you should find an agent who has worked with foreign buyers previously and would even have experience conducting transactions remotely, assuming there will be instances when you will not be able to be physically present in Panama for some phases of the transaction.

2. Employ a reputable local attorney

   Once you’ve found the right property, negotiations with the seller can begin. During this time, you will also need a reputable local attorney on your team. They will be in charge of tasks like verifying the details of property on the public registry, and checking ownership and liens on the property. This is to make sure that the person selling the property is really the registered owner, and to ensure that there aren’t any outstanding fees and mortgages associated with the property. Your attorney will also be tasked with reviewing or drafting the reservation agreement and contract between you and the seller.

3. Understand the documents

   Speaking of documents, the first document to be completed so that you can get the transaction started is the Promesa de Compra y Venta or “Promise of Purchase and Sales Agreement.” This is basically a promissory note that lays out in detail how the transaction will proceed. It provides information about the total amount you will be paying, the down payment, your methods of payment, and the time frame to complete the process.

   The final contract between you and the seller is the deed, which will be submitted to the public registry. Ideally, you should be in Panama to sign this deed, which will then be notarized. Otherwise, you should give your attorney the power of attorney to sign it on your behalf.

4. Understand the timeline

   Once the deed is registered, the process of transferring the title from the seller’s name to yours can then begin; this will take about 10 days.

   Your real estate agent should then send a copy of the deed to the tax records department.Overall, you can expect the process of buying a property in Panama to span a period of about 30 days or so, provided that the title is clean, there aren’t any unpaid liens, you and the seller quickly came to an agreement about the details, and there are no other hurdles to overcome.

5. Review your financing options

   Another detail that you need to sort out is the kind of financing you need to pay for the property.
   Panama has many reliable banks that offer numerous mortgage products. Banks have a number of requirements for mortgage applications. You will need to submit a copy of your current passport, a copy of another ID, a photocopy of a utility bill with the same address as the one on your ID and other documents, your curriculum vitae, the original certificate of title of deed from Panama’s public registry, and a property appraisal document.

   Banks generally accept a down payment of 30% from foreign buyers. If you’re purchasing directly from a seller, people are generally willing to accept a 10% down payment.

   If you’re a first-time property buyer in Panama, you may also be eligible for special incentives given certain conditions. For example, the property you are buying should be newly built to be used for residential purposes.

   If you have a retirement visa under the Panama Pensionado Program, you may also be entitled to lower interest rates on mortgages.

   If you want owner financing, which is having the seller help you buy their property, call your real estate agent. Owner financing is fairly common in Panama so let your agent handle the negotiations, which include details such as the down payment, the interest rates, the purchase price, and the terms. The seller generally accepts a downpayment of 5% to 10% in this situation. This option is suitable for those who are interested in buying a property but are unable to fully pay for it until they have sold off their primary property.

The process of buying land in Panama, or indeed, any type of property, is fairly straightforward, but as a foreign national, you are no doubt wondering if there are some unique rules that apply to you. The following section should answer some of your urgent questions if you want to buy land in Panama as a foreign national.

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FAQs

Buying property in another country means being even more mindful of local laws, guidelines, practices, and requirements.

Here are some of the questions that you most likely have when it comes to buying land in Panama along with some quick answers.

Q: Is it really okay for foreigners to buy land in Panama?

A: Yes, and you don’t even need to have a special visa or a certain relationship with the country. You’re also not required to be a major investor in any business in Panama. When you buy property here, even as a foreign national, you’ll have the same property rights as Panamanians do, with a few exceptions.

Q: What are the exceptions for foreign buyers?

A: If you’re eyeing to buy a piece of untitled land in Panama:

• It must have been owned first by a citizen of Panama for at least two years before it’s sold to you; your real estate agent will be able to help you check the details.
• You will have to abide by Article 286 of the country’s constitution, which prohibits foreign ownership of a property located within 10 miles of the international border. Panama is located between Costa Rica and Colombia.
• You can buy land in Panama if it’s not located in a military zone or an indigenous reservation.

Q: How many properties am I allowed to buy?

A: As many as you want and can afford. There is no limit to the number of properties you are allowed to buy, as long as you’re able to pay for them. There is no limit to the size of properties either; you can buy anything from a small apartment to huge parcels of undeveloped land to agricultural land and even to your very own island.

Q: What kinds of property can I buy?

A: Every kind of property is available for you to purchase, save for the exceptions listed above. You can even buy your own island in Panama. It all depends on what your needs are and what you plan to do with the property.

Q: Do I need to be in Panama during the entire transaction?

A: It would be a good idea just so you could get a feel for the area and the community and to be able to witness the transaction firsthand. But if you’re unable to make it, then you can have your attorney handle the process.

Q: Do I have to know how to communicate in Spanish for my transaction to go through?

A: English is the second most widely spoken language in the country, so you won’t need to be fluent in Spanish throughout the process of buying Panama land for sale. But it may help to learn the language so you assimilate better into the community and get to know the culture better.

Q: Do the documents related to the purchase have to be written in Spanish?

A: You will only need to have a document written in Spanish in case of a dispute between you and the seller. In this case, the contract that you two signed will need to be translated into Spanish first before it is filed in court for review. You can save time by having the contract written in both English and Spanish in the first place, even before a dispute arises.

Q: Do I have to have a good credit score to buy land in Panama or any other type of property?

A: Credit scores are a concern of lenders in the US. In Panama, what mainly matters is your ability to pay, and for that, sellers and banks will look at several documents, such as the last two years of your financial statements, the last two years of your personal income tax returns, two financial reference letters attesting to your income and ability to pay, and a copy of the Promise to Purchase Agreement.

Of course, you most likely have a whole slew of other questions related to your unique situation about buying Panama land for sale. In that case, you may contact a local real estate agent in Panama who deals with foreign buyers. They’ll be able to clear up any issues and give you better insight into the Panama real estate market.

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LAND FOR SALE IN PANAMA

At this point, your plans to purchase land are crystallizing and you have a better idea what to expect when purchasing property in Panama. There’s a number of currently available Panama land for sale and it would be a good idea to check them out yourself. Seeing the properties in person gives you a better idea of the communities they’re in, your buying power, the range of available properties, and how much you’ll need overall to complete the transaction. Plus it’s a great way to immerse yourself in the local culture.

Beachfront lots are a popular type of property in Panama. As in most beachfront lots, they can be rare and come at a premium. The asking price for a 0.37-acre property in a private resort is $395,000 and offers quick access to rainforest trails, the island beach club, as well as to the sand and the sea.

Hillside lots are great if you want breathtaking ocean views. They offer the same access to amenities with the added bonus of sweeping vistas. Some elevated lots already have a solid foundation in place, making it easy for you to start building your dream home.

Whichever lot you select, you’re guaranteed a pristine haven with the privacy you need, and plenty of room to build a home that fits your needs and lifestyle.

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GET STARTED ON FINDING YOUR PERFECT PIECE OF LAND IN PANAMA

If you’re looking for a reliable partner who can help you find that perfect piece of land in Panama, we at Red Frog Beach can help. Aside from showing you available properties and advocating for you during every step of the transaction, we’ll also help you with visa applications and with choosing the right community. We’ve assisted countless expats in getting settled here in Panama, and we can’t wait to do the same for you.

Give us a call at 281.892.1344 (US) or 507.6951.6518 (Panama). You can also send us an email or contact us here. We’re looking forward to hearing from you!

Discover the potential benefits of land banking, a smart investment strategy that has gained considerable attention in recent years. Although it’s not a new concept, land banking has emerged as a safe and lucrative investment opportunity that could result in substantial gains over time.

UNDERSTANDING LAND BANKING

Land banking involves the acquisition of undeveloped land with the intention of holding onto it for future use or development. The process typically involves identifying land with growth potential in strategic locations, often on the outskirts of urban areas or regions undergoing development. Investors purchase the land at current market prices and wait for its value to appreciate before selling or developing it for a higher return on investment.

BENEFITS OF LAND BANKING:

Capital Appreciation:

Land is a finite resource, and as the population grows, the demand for land increases. By investing in land, investors can benefit from capital appreciation as the value of the land rises over time. The scarcity of land and growing demand for housing, commercial spaces, and infrastructure make land an attractive long-term investment.

Hedge against Inflation:

Land is considered a tangible asset that can act as a hedge against inflation. As inflation erodes the value of currency, land values tend to rise, preserving the purchasing power of the investment. By diversifying their portfolio with land holdings, investors can safeguard their wealth from the erosive effects of inflation.

Flexibility and Control:

Land banking offers investors the flexibility to choose when and how to develop or sell the land. Unlike other investments, land banking doesn’t require immediate action. Investors can patiently wait for the appropriate time to maximize their returns, whether by selling to developers, leasing the land, or developing it themselves.

Low Maintenance Costs:

One of the advantages of land banking is the minimal ongoing costs associated with land ownership. Unlike developed properties, there are no buildings to maintain, no tenants to manage, and no need for continuous investment. This allows you to sit back and watch your investment appreciate without the hassle of day-to-day management.

Strategic Positioning:

Selecting the right location for land banking is crucial. Investing in areas with anticipated future development, such as expanding cities, new transportation hubs, or upcoming infrastructure projects, can significantly boost the land’s value over time. This strategic positioning allows investors to align their investments with long-term growth trends and potential demand.

Investing in land can be a versatile and effective way to grow your wealth. Luckily, we offer a variety of investment options to fit your unique goals. If you’re considering a land investment, we have an incredible opportunity for you!

Lot 411 is a gorgeous Caribbean beachfront property that measures 0.37 acres or 1483.31 square meters. With an unbeatable location and the potential for long-term appreciation, this lot is a smart and secure investment that requires low maintenance. Don’t miss out on this chance to pave your way to financial growth.

Secure your place in the real estate market of the future by investing in land banking today. We’re here to guide you through the process, answer your questions, and ensure a smooth investment experience.

CLICK HERE TO VIEW LISTING LOT 411

SCHEDULE A CALL TODAY AND LEARN MORE ABOUT LAND BANKING OPPORTUNITIES

Please call our office at 281.892.1344 for inquiries. You can also contact us here.

In the meantime, check out our available properties for sale in Panama

Panama is famous for pristine beaches, lush rainforests, enviable climate, and friendly communities. It is also known for highly affordable luxury properties and an especially low cost of living, making it a haven for expats who want to squeeze the most out of life. If you dream of moving to this isthmus nation, whether it’s for a business venture, retirement, or simply a change of pace, this guide to Panama real estate for expats tells you everything you need to know about buying a property here.

THE PANAMA PROPERTY MARKET

Panama’s real estate market has been steadily growing through the years, which is the reason several international financial and real estate firms have sought to establish themselves and do business here, including HSBC, Citibank, Microsoft, Procter & Gamble, Caterpillar, Inc., as well as real estate firms in the US, to name a few.

As for real estate options, the tiny country hosts a wide array of property types including luxury homes, modern houses, coastal properties, penthouses, villas, condos, and more.

The starting price for a 3-bedroom expat Panama real estate in a coveted area can be $300,000, but the number can vary greatly depending on a great number of factors. It is normal to see houses valued at $400,000 or more. Still, that’s considerably lower in price and with better features than what you’ll get in the US for the same price.

The process of buying property in Panama is similar to the way it’s done in most countries. Properties are titled to reflect the legal ownership, and both nationals and foreigners can access mortgages to finance the purchase of a property. It’s worth noting that in Panama, lenders focus more on an applicant’s ability to pay and less on credit history, as is the norm in most western countries. Titled properties are recorded in Panama’s public registry, which is accessible online.

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WHAT IT’S LIKE LIVING IN PANAMA

Living in a tropical country like Panama sounds like a lot of fun, but it’s worth a deep dive to find out if it fits your longer-term aspirations. Before you pack your bags and head over here, let the following pointers guide you.

Cost of living

Sources claim that the cost of living in Panama is 32.7% lower than in North America. A resident can expect to spend $1,120 to $8,000 a month, depending on lifestyle and expenses.

Although living in Panama doesn’t mean you get to live lavishly for pennies, anyone can manage a comfy life with a modest salary when residing here. Of course, those who earn more will be able to live in pricier Panama real estate for expats and enjoy a more luxurious existence because Panama is definitely not lacking when it comes to life’s finer things.

Quality of life

The cost of living might be lower than in many other places, but that doesn’t mean the quality of life is low as well. In fact, Panama has led the world in wellbeing for two years in a row. The country is also known for providing a safe living environment for all, while ranking highly in taxation and tolerance.

The country’s political environment is a democratic system based on justice, equality, and the rule of law. People here are notoriously cheerful, and will go out of their way to help you even if you don’t speak their native language. There is very little crime here, as you can read from this country report, as long as you practice common sense and do your due diligence.

Healthcare is one aspect where Panama is topnotch. Here, you’ll find a lot of competent doctors, state-of-the-art medical equipment and facilities, and high quality healthcare services, while costing a fraction of what you’ll usually find in North America. Even rural areas have well-equipped hospitals where city doctors hold clinics and see patients on a regular basis. No matter where you decide to live and purchase Panama real estate for expats, you won’t have trouble finding an English-speaking doctor nearby who can provide you with the care you need.

With regards to infrastructure, new roads, bridges, and other public works are always being built, with plenty of modernization projects in the pipeline. All over the country, you can find reliable internet and mobile phone service.The water from the tap is potable in most areas.

Beautiful weather and nature

Panama boasts a warm and pleasing tropical climate all year round. It never snows and temperatures rarely go over 90°F for too long. Shoreline communities like Bocas del Toro, Coronado, and Panama City tend to be hotter, but you can always head to the beach and plunge into ocean waters. For those who want milder climes, the temperate highlands of Altos del Maria, Los Altos de Cerro Azul, and Boquete are a perfect fit.

Whichever expat Panama real estate you decide to buy, you’re never far away from wonderful green color palettes and pure, crisp air. The region’s lush and diverse fauna is definitely one to marvel at, which is why ecotourism is one of the nation’s major industries.

From miles of white sandy beaches, to rugged mountains, to dense jungles, the natural scenery in Panama is truly breathtaking.

Established expat communities

Practically speaking, any foreigner can purchase a property and live anywhere in Panama. That said,for those who prefer living alongside their fellow “extranjeros,” you can find established expat Panama real estate communities in many areas in the country.

Purchasing Panama real estate for expats in these areas means that you’ll be able to get by with day-to-day living even when you only know basic Spanish, as you’ll be around people who can speak English, even if not fluently.

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WHERE CAN EXPATS LIVE IN PANAMA?

Often cited as one of the best places to live overseas, Panama offers a variety of communities for expats to choose from.
Each location possesses its own unique character, with different amenities that suit different lifestyles and budget. Here are some of the most popular communities that feature the best of Panama real estate for expats.

1. Boquete

   As one of Panama’s premiere expat destinations, Boquete regularly finds itself in many “Best Places to Retire” lists. The sprawling district of about 25,000 people is known for its fertile land – almost 80% of Panama’s fresh produce comes from Boquete and its surrounding areas. Likewise, numerous coffee and flower festivals are held here each year, attracting tourists and participants from all over.

   Aside from its agricultural leanings, the community of Panama real estate for retirees also has a thriving music and arts scene, most notable of which is the yearly Boquete Jazz & Blues Festival held in March.

   The community also has several golf courses, a wide array of restaurants, and a whole host of activities to help keep expats busy and entertained all year round.

2. Bocas del Toro

   For those who want the Caribbean atmosphere without the overcrowdedness, Bocas del Toro Panama real estate is ideal for you. Located on the Caribbean side of Panama, Bocas is an archipelago consisting of nine islands with stunning beaches and thick rainforest all throughout. There are plenty of activities to enjoy on the seven large islands, including surfing, scuba diving, island excursions, and more.

   As a small archipelagic setting, the urban amenities in Bocas are basic. Here, you won’t find any big name stores, no private hospitals, no cineplexes. Major cities are also a good distance away. However, if you’re looking for a respite from the ruckus of life, Bocas del Toro, Panama real estate is the place to be.

3. Coronado

   Hands down the most popular beach community in Panama, Coronado prides itself on its year-round mild weather, uncrowded beaches, and a warm and welcoming expat community.

   Home prices in Coronado are among the highest in Panama, with some of the biggest gated communities located here. Amenities include golf courses, shopping plazas, restaurants, major grocery chains, and numerous hospitals and clinics.

   As one of the oldest expat communities in Panama, Coronado has grown into a lively beach community with all the trappings of modern life. Luxury homes and high-rise condos abound in the Panama real estate for retirees listed here, and there’s high-speed internet, cellular service, and cable TV for residents to enjoy. Coronado’s high-value lifestyle may cost a pretty penny, but when it comes to comfort and convenience, it’s the place to beat.

4. David

   Panama’s third largest city (after Panama City and Colón) is home to almost 200,000 people. As it is the hub of Chiriqui Province, David is a bustling hub where residents of the outlying towns frequent regularly to shop for supplies.

   The best thing about David is its off-the-radar atmosphere, allowing residents to enjoy quiet living, proximity to nature, and first-world amenities. There are popular fast food restaurants and household brands all over, which help give off the feeling that you never really left home.

   The town has a small international airport, as well as a marina on the coast. Other amenities include big-box retail stores, cultural and entertainment centers, a large multiplex theater, multiple healthcare facilities, car dealerships, malls, and extensive dining options.

5. Panama City

   The country’s capital is one of the most progressive cities in all of Central America. Modern amenities, beautiful weather and natural scenery, endless career opportunities, and relatively affordable homes make it easy to see why foreigners from all over the world are attracted to Panama City, Panama real estate and living the rest of their lives here.

   The city is bursting with things to do, with all the trappings one can expect from an international metropolis. It also has the only metrorail system in the region, making it easy to get around. Needless to say, if you want comfortable, cosmopolitan living minus the luxury budget, Panama City, Panama real estate deserves your serious consideration.

6. Pedasi

   Idyllic is the keyword in Pedasi, a charming beach town that is increasingly becoming a popular expat destination. As one would imagine, popular activities here are mostly beach-related – surfing, fishing, snorkeling, scuba diving, and even kitesurfing.

   The community is small and close-knit, and the locals are friendly and courteous. With its sparse population, Pedasi can make you feel like you’re in an exclusive beach club. Aside from the beach, Pedasi also has a good number of wildlife refuges and national parks.

   Though the properties here are still affordable, that doesn’t look to be the case very soon, as Pedasi’s popularity continues to grow and more tourists find their way here. It doesn’t have the amenities enjoyed by expats who own Boquete, Coronado, or Panama City, Panama real estate, but it is still close enough to everything you may need, as the cultural hub that is Las Tablas is just a 45-minute drive to the north.

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PURCHASING REAL ESTATE IN PANAMA AS AN EXPAT

The process of buying property in Panama for foreigners can be intricate, but it doesn’t have to be intimidating. Once you’ve identified your ideal location and property, follow these steps to begin the purchase of your very own expat Panama real estate.

1. Find a real estate agent who specializes in expat needs

   First and foremost, seek the help of an experienced real estate agent who specializes in Panama real estate for retirees and expats. A good agent will know the properties on the market that suit you best and can identify the pros and cons of each property for you. Your agent can help with each step along the way, guiding you through negotiations and maximize your return on investment.

   In Panama real estate agents must have a license to operate, so ensure that the agent you choose has a valid and active license.

2. Confirm the title

   Your agent can check in the public registry to ensure that the property you’re buying has a clean title and that the seller is the registered owner of the property. If the title check reveals any issues, such as having liens, mortgages, or restrictions on it, best to delay the purchase of the property until the issues are taken care of, or forgo the purchase and look for another property altogether.

3. Make a serious offer

   Your agent can give you an idea of current market values, which can be helpful in assessing if a property is reasonably priced. When you find a property you like, your agent can help you arrive at a good asking price for it. Once you’re settled on a number, your agent can then take your offer to the seller to negotiate until a deal is made.

4. Enter into a purchase agreement

   After your agent has determined that the Panama real estate for expats that you wish to buy has a clean title, you can sign a purchase agreement that clearly outlines the terms and conditions of the transaction. A purchase agreement usually includes an inspection of the property and a re-survey if the property hasn’t been surveyed in the last 10 years.

   After the purchase agreement is signed, closing will then be scheduled. You will then have to pay the down payment to the seller, which is normally 10% of the asking price. At closing, you and the seller will then have to sign a final buy/sell contract.

5. Transfer the title

   The Panamanian government usually collects a 2% tax to transfer a property’s title to the buyer, based on the property’s value according to the deed of sale.

   The process will also incur other fees, which can vary depending on the size, type, and value of the property. Here are some of the common fees in US dollars during the transfer of title:

   • Notary and public registry fees: $250 – $400
   • Legal property transaction fee: $1,200 – $1,500
   • Escrow transaction fee: $600 – $1,000

   With the title transferred, the final form of the contract is then made and signed by all involved parties. It’s worth noting that Panama doesn’t require anyone to be present during the signing. Out-of-country buyers can e-sign their documents or authorize an attorney to sign in their place.

6. Transfer the funds

   Payments for property purchases in Panama, including down payments, are usually done through an escrow account.

   Buyers set up the escrow account in their home country or a local bank in Panama, which will then issue an “irrevocable letter of payment” to the seller informing them that they have the money and will release them when the terms of the contract are met.

   Usually, the funds are transferred after the final contract is signed, but in some cases, the transfer is done after the property’s public deed is registered in the buyer’s name.

7. Register your purchase in the public registry

   Your agent will file the record of your purchase in Panama City, after which the title transfer procedure can take place. This could take seven to 10 days.

   The final deed will then be sent to your agent, who will then prepare your final documents and send them to you, along with your registered title deed.

   Have your agent send a copy of the deed to the tax records department to make sure the property is truly yours.

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NEED-TO-KNOW FACTS ABOUT BUYING PROPERTY IN PANAMA FOR EXPATS

In Panama, foreign real estate buyers have the same rights as local buyers, but with a few restrictions, especially when it comes to waterfront and island property. Likewise, foreigners are not allowed to buy properties within a military zone or reservation for indigenous people.

Property taxes apply only to properties with a registered value of more than $30,000. Panama caps annual property tax at 2.1% for properties valued over $75,000.

The Panamanian government also charges title transfer taxes amounting to 2% of the asking price or the property value, whichever is higher. A short- and long-term capital gains tax is also applied.

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LET RED FROG BEACH HELP YOU EXPLORE PANAMA REAL ESTATE OPTIONS FOR EXPATS

If you have questions about buying Panama City, Panama real estate, Bocas del Toro, Panama real estate, and more, we at Red Frog Beach can assist you. From visa applications to choosing the right community and property, we have helped many expats like you find the right real estate solutions.

Please call our US office at 507.6951.6518 or our Panama office at 281.892.1344 for inquiries. You can also contact us here.

In the meantime, check out our available properties for sale in Panama

Panama is one of the most popular vacation destinations in the world, with some of its locations rivaling any place on earth for natural beauty. An idyllic tropical climate, lush green rainforests, and beautiful beaches make this the perfect retirement location. What’s more, seniors benefit from affordable healthcare and substantial discounts on retirement visas.

If you’re at the stage where you’re considering retirement locations, Panama might just be the place for you. On this page, we’ll discuss what this country has to offer and why it’s such a wonderful place to retire, how much it costs to live here, and also look at some of the best retirement communities.

Top reasons why retirees choose Panama

1. Low cost of living

Relocating to Panama is a great choice for people whose home country no longer presents an option for them to enjoy their retirement as they would like. In Panama, the cost of living is likely to be lower, especially if you’re coming from the US. For example, a person in Texas paying $300 per month for electricity will only pay around $25 per month in Panama. The prices for cell phone services, property taxes, insurance for homes and cars, as well as food, are also significantly lower in Panama.

2. Ideal tropical climate

Since Panama is located in the southern region of Central America, it experiences tropical weather all year round. Snow rarely falls in this region, and the temperature rarely rises above 90°F for long periods of time. It is also uncommon to experience extreme weather or natural disasters. Coastal locations such as Panama City, Coronado, and Bocas del Toro enjoy hotter weather, while mountain towns such as Boquete enjoy cooler, spring-like weather.

3. Breathtaking natural beauty

The landscape of Panama is simply stunning, characterized by miles of coastline, white sandy beaches, rugged mountains, dense jungles, and an almost endless variety of plant and animal life. Whether you’re on the beach or in the mountains, Panama’s natural beauty will take your breath away.

4. Affordable, excellent healthcare

Healthcare in Panama is affordable, and not just in the capital. You can find top medical facilities in small towns and large cities alike, and the quality of healthcare is comparable to that of top hospitals in the US and Europe. Furthermore, many doctors in Panama have trained in the US and Europe and speak English fluently. Expat retirees will find Panama’s low hospital fees, cheap health insurance, and easy access to world-class medical care a major draw. 

5. An International community



The Panamanian lifestyle has drawn foreigners from all over the world with its numerous recreation opportunities, and affordability. This has created tremendously vibrant and interesting communities to live in. Like minded people from across the world, many from the US are there looking for the same thing, a great place to retire. This provides a great benefit for English speaking retirees with much of the world being able to speak, to some degree, the most widespread language in the world. 

The Pensionado Visa

Pensionado, a foreigner-friendly discount program offers retirees very strong benefits for those looking to retire in Panama. This is one of the most popular retirement programs in the world, with some of the most appealing perks. 

This program provides the following incentives:

• One-time duty tax exemption for household goods (up to $10,000)
• Two-year import tax exemption for new cars
• 25% off utility bills
• 25% off on airline tickets and 30% on other transportation
• 15% off loans in your name
• 1% mortgage reductions for residences
• 20% off medical bills
• 15% discount on hospital bills if insurance does not apply
• 15% off dental and eye exams
• 10% off purchase of medicines 
• 20% off professional and technical service bills
• 50% off admission to movies, cultural events, and sporting events
• 50% discount on hotels from Monday to Thursday; 30% discount on weekends

Getting a residency visa

To qualify for a Pensionado Visa, a person must have a lifetime income of at least $1,000 per month for themselves and $250 for each dependent. The visa application process also requires the submission of a national criminal report (such as an FBI report).

How to apply for a Pensionado visa:

1. Prepare all of your requirements.
2. Allow seven business days in Panama for the initial visa application.
3. Take a temporary visa card. Your permanent visa will be issued three months later.
4. Get your national identification card, also known as a cedula.

The cost of obtaining a residency visa varies depending on the attorney, but it is usually around $1000 per person. Once a visa is granted in Panama, it is not required that the visa holder become a permanent resident of the country. However, keep in mind that in order to keep your visa active, you must return to Panama at least every two years.

The government also offers other visas, but most of them require a substantial investment in the real estate market or some form of business.

Are you moving to the country from the United States? Here’s where you’ll find a list of entry requirements for U.S. Citizens.

Real estate in Panama

There is no restriction on who can own property in Panama. The same rights apply to foreigners as they do to Panamanians when it comes to property. You can even purchase real estate while not being a permanent Panamanian resident.

If you plan to retire in Panama, it is advisable to rent for a minimum of six months to determine if this is a country you enjoy living in. Just make sure that everything included in the home, such as the stove, refrigerator, and other appliances, is listed on the lease agreement. This way there is no set up period and you can just focus on whether the place is right for you. 

Retiring to another country is a considerable move, but having the right professionals on your side can make the process much simpler than you’d imagine. Here at Red Frog Beach, we offer short term rentals with hotel amenities! Enjoy properties with resort services and amazing amenities you’ll love, such as a spa, beach club, golf cart service, zipline, and more. 

Please feel free to let us know if you are interested in renting a home in Panama. We can provide you with a wide selection of properties for rent in the area. Then if you find that you’d like a more permanent situation, we can help you facilitate property acquisition. Alternatively, if you find that renting is more suitable for you we can also help with that too, presenting you with further options or simply continuing your rent in your current location. 

Homes for sale in Panama

The Panama real estate market offers a wide range of options for home buyers and retirees, including single-family residences, beachfront properties, luxury estates, condos, and vacant lots. Foreign and local buyers can also take advantage of new developments.

Property ownership in Panama

• Titled property. A titled property bears a deed and a “finca” number. Those with titled properties can obtain mortgage loans by registering liens against their titles.
• Right of possession. Right of possession refers to government-owned property that can be purchased as a “right” to use it. A land parcel that is R.O.P. is able to be subdivided, resold, rented out, farmed, and developed as desired.

COMMON FAQs ABOUT RETIRING IN PANAMA

• Is it safe to retire in Panama?

Some of the most pertinent concerns about living abroad are the ones related to safety and security. The World Economic Forum and International Living have ranked Panama as one of the safest countries to retire abroad. While there are always places in any country where it would not be advisable to live, a good local real estate agent will only present options and areas where their clients can expect to enjoy their retirements, not worry about their security. 

Of course, settling into a new country does entail some level of getting to know the local area and customs but this should predominantly be an enjoyable and enriching experience. Note that on the whole, Panamanians are accustomed to foreigners, and visitors are made to feel welcome. 

• Is there a citizenship program in Panama?

There is currently no available citizenship program specifically designed for retirees. But if you have lived in Panama for five years, you and your family can apply for Panamanian citizenship.

• Is Panama a tax haven?

Panama is not a tax-free country. The tax benefits of moving to Panama can be significant, but it requires careful planning and professional guidance from a financial advisor.

Panama has a territorial tax system that exempts foreign-sourced income from taxes. It should be noted, however, that both individuals and corporations are subject to capital gains tax and income tax on locally sourced income.

Where to retire in Panama

Here are some of the best places to live in Panama:

Bocas del Toro

Bocas del Toro is special and a place we highly recommend. Take a look at the architecture and get a sense of the ambiance, and Bocas del Toro does have a distinct Caribbean feel. A popular tourist destination that speaks English widely, it’s the perfect balance of a vacation getaway and a place where you can call home. 

Here you’ll find Red Frog Beach Island Resort, a paradise where all the comfort and luxury you could want are seamlessly blended with the natural beauty all around.  

Panama City

Panama City is the country’s capital. This metro area has over 1.5 million people, which makes it the country’s most populous area. There are high rises, as well as shopping, dining, and cultural attractions all around.

David

David, Panama’s second largest city, is home to 165,000 residents. It has an international airport, excellent healthcare facilities, bilingual private schools, car dealerships, malls, and a variety of shopping areas. Quiet, peaceful living, proximity to nature, and first-rate amenities make this an great place to live. David also has much more affordable real estate compared to Panama City.

Boquete

Boquete rises to an elevation of about 3,900 feet, which makes it literally the highest point in Panama. A 65°F average temperature throughout the year makes the area feel perpetually springlike.

Foreign retirees make Boquete a good overseas retirement option for those who don’t speak fluent Spanish or aren’t ready to completely immerse themselves in another culture. Music and flower festivals in Boquete are internationally renowned. 

Chitré

Small town Chitré is renowned for its heritage and folklore. Expats looking for an immersive cultural experience might consider this city. Chitré is a regional hub that offers a wide range of shopping, dining, and entertainment options, as well as elaborate holiday celebrations.

Chitré remains relatively unknown to tourists, which results in low prices. It is even possible to find cheap beachfront property. However, in this region, it’s very useful to have even a basic working knowledge of Spanish.

Volcán

The laid-back town of Volcán is renowned for its cool climate, beautiful scenery, and natural splendor. Stunning vistas of rolling hills are framed by cloud mist, and dense rainforests are home to a variety of wildlife. In Volcán, there are beautiful hotels, large grocery stores, trendy restaurants, and charming coffee shops.

Simple living is the norm in this small community. Those who enjoy hiking, gardening, and reconnecting with nature may find this town to be a great retirement option.

Coronado

A beachfront gated community with an international school and plenty of nearby dining and shopping, Coronado has it all. Although it is not as highly urbanized as Panama City, there are still plenty of activities to keep you entertained. A golf course is nearby, and there is a lovely beach where you can walk, swim, or surf.

A couple of considerations before moving to Panama

Retirement poses a unique set of challenges, especially when considering moving to another country or city. While part of the adventure of moving abroad is becoming familiar with your new surroundings, it pays to be prepared. 

1. Do you need to learn Spanish?

Panama is a country with a large expat population, and most locals are familiar with English; however, not all are fluent. The more Spanish you speak, the richer your overall experience. This being said, it is perfectly possible to have very little to no Spanish and get by perfectly well, if you live in an expat community or a resort like Red Frog Beach Island Resort. 

2. City traffic

Traffic may be a concern in the capital city. As a major economic hub and a leading destination for medical tourism, it attracts visitors from all over the globe. You may want to consider retirement options in other Panamanian locations for a more relaxed retirement.

3. The tropical climate

Although many people enjoy living in a tropical climate, some can find it difficult to adapt. This is another reason why many choose to rent in Panama for a few months before they commit to making an investment on real estate. 

Red Frog Beach can help you explore your retirement options in Panama

We at Red Frog Beach can assist you with everything from visa applications to choosing the right community and property for you. 

Take the first step toward your retirement in Panama at Red Frog Beach Resort. The Bocas del Toro resort features an array of real estate opportunities, including a secluded and private villa community that overlooks the ocean. Our Panama villas offer upscale island living in a safe, modern community where you can experience the best of island life.

If you’d like to learn more about available villas for sale, the beach resort community, or other retirement communities in Panama, please contact our US office at 507.6951.6518 or our Panama office at 281.892.1344. Alternatively, don’t hesitate to send any inquiries to our email. Let’s begin your journey to your place in the sun.