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.
What’s ahead
- Overview of Bocas del Toro
- Why choose Bocas del Toro?
- Where to buy land in Bocas del Toro
- Factors to Consider
- Laws, Regulations, and Process
- Find 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.
Titled properties
For starters, you want to make sure that the property is titled. Titled properties have more value and are a more secure investment, being registered with the government, and you need to pay property taxes on them. You can also get properties with rights of possession (ROP). These are not titled lands, but they can be owned by people who make improvements on them or have lived on or maintained them for at least seven years. Essentially, you have the right to use the land but do not hold the title to it. Ownership can be established through an inspection of the property and may even entail interviews with your neighbors to verify that you have indeed been in possession of the land. An advantage of ROP properties is that they’re typically priced below market value, but you may run into ownership issues down the line, and the lack of a title may make it difficult to sell. Also, it’s never a sure thing that you can get a title for your ROP property; you’ll need to consult your real estate agent to determine if you can do so.
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!
