What are real estate prices near beaches in Panama?

Question

What would be the approx price of a home on several acres someplace near the Atlantic side beaches in Panama? Are there often title problems there? I looked at and made an offer on a large track in Belize many years ago but there were such title problems that I was afarid to close the deal. Panama might be a great place to have a second home, methinks. Are the Pacific side beaches better?

Answer 1

Q  What would be the approx price of a home on several acres someplace near the Atlantic side beaches in Panama?  

A  Right now the market is hot in Panama.  We have seen many instances of seller backing out at the last minute if they even get the slightest indication that they might be able to get a better price.  It's like 'wow, that went too fast I didn't ask enough.  I think I'll change my mind and list it at a higher price.' So, the most honest answer I can give you is it is whatever the market will bare.  Make sure you are dealing with a licensed real estate broker and you have an attorney write the purchase contract.  There was also talk at one time forming a company to hire locals to be the face and make the deals thereby avoiding the 'gringo pricing', but that quickly died.  Everyone wants to stick in their thumb and pull out a plumb along the way as in many Latin American countries so the system was doomed to fail.  Another cute trick to look out for is this.  Let's says Sra. Homeowner wants to sale her house and she wants 100,000 for it and she tells the broker this is what I want for the house anything you get more than that I don't care.  So Sr Real Estate Broker says oh my this house is worth 115,000 so I will list the house at 115,000 and line my pockets with the rest.  All of these are common events here.

Q  Are there often title problems there?  

A  Not every piece of land has a clear title in Panama.  In some areas the government is still in the process of titling the land.  In the not too distant past it was very important not to leave land and or houses unoccupied for fear of squatters.  They could legally lay claim to your place if left alone too long.  But the effort the government is making to title everything is making this quickly a thing of the past.  However do make sure there is a clear title.  Make sure you have it translated and it's a title and not land rights, this is the problem in Bocas Del Toro right now.

Q  Are the Pacific side beaches better?  

A  It depends on what you want to do on your piece of beach.  Do you enjoy a pounding surf?  Do you want the calm of the of Caribbean.  Do you want developed or primative and pristeen?

Look, if you can afford it.  Come down stay for a month and poke around.  Check out all the areas you think you might be interested in.  Go home and let it gel a while, then come back and stay at least three months in the location of your choice to try it on.  Everybodies needs and wants are as individual as the faces we wear.

Answer 2

The short answer is, Panama is a great place to buy real estate, along with many other areas in Central America, and you do need to be careful.  Prices are going to be very tough to estimate right now... depending on many factors.  Just be sure to work with a professional that knows (very well) the area in which you choose to purchase a home.

Best Wishes!

Your Real Estate Professionals

Move to Latin America, Corp.

http://www.movetolatinamerica.com/

Answer 3

Tks for choosing my best answer previously.  I'm not a real estate expert and you certainly need one.  With the US baby boomers retiring in Panama there is a lot a real estate agencies offering deals. Be sure you contact a "real" one.

Pacific Coast has been basically sold out.  Atlantic Coast has little road access so you should be able to find something nice and virgin.  The Pacific is rough, good for surfers. Check on San Carlos, Coronado, Gorgona beaches.   Atlantic has white sands and transparent waters.    Check on San Blas, Isla Grande, etc.  Good Luck!!

Answer 4

Real Estate prices will depend on whether the land is properly titled or not.  Certainly there are title problems in those areas, but most important its that there was a recent change in the legislation regarding beachfront property.  Recently a new law was passed in order to provide incentives to those looking to invest in tourism, and therefore it affects beachfront property.  Specially property that wasn't titled before that law went into effect.

There are opportunities on both sides, but since the Pacific side is more developed, there are more chances of finding titled land on the Pacific side than on the Caribbean side.  At this time your best bet would be to find something available within the Azuero region.

Check out our webpage so you can see what services we offer, and you can have an idea if we can help you in Panama.

Good luck!

Answer 5

Bocos Del Torro has awful problems with title and also lawsuits against developers. Not a good thing. The beaches around Coronado on the Pacific side are nice. this web page may be helpful about Panama:

http://www.panamalaw.org/panama_lifestyl...

Answer 6

They have different type of prices.

They start from 180,000 and up.

If you want more information, you can email me:  [e-mail]

I live in there and i can recommend you some houses close to very good beaches.  They are about 1 and a half hour of the city.  Very good beaches.

Also you can see Bocas, but it is very far from the city, almost 11 hours approx.  I can also send you some pictures if you want it.

I am not a real estate, but i can help you to find the correct real estate that will not just want you take your money and recommend you awful places or good places but so much more of the normal value.