This Central American country is a crowd favorite among American retirees who want to spend the rest of their retirement years in a gorgeous tropical setting. So whether you’re planning to invest in a Panama property for your retirement, if you’re discovering your real estate property investment options or if even if you just want to have a long, well-deserved break, then you might as well spend it in one of the glorious beaches in Panama.

Planning to Invest in a Panama Real Estate Property? Here are the Basics

What makes the Panama real estate industry such a delight for beach bums is that the country itself is located along the coastlines of both the Caribbean Sea and the North Pacific Ocean. Bordered by Colombia and Costa Rica, it’s really no wonder why the real estate property scene in the country has experienced a boom in the last couple of decades.

If you’re a beach bum or if you just plain like the tropical, near-perfect weather that the country has to offer year-round, then you might as well invest in a Panama real estate property. While you’re at it, why not turn your very own Panama property beach getaway into a business of sorts?

All you need is a good business acumen, the interest to invest in the Panama real estate industry and basic management skills, and you’re all set!

A Look at the Panama Real Estate Scene & Its Many Gorgeous Beaches

Now, let’s take a look at the many sea-related attractions that you will get to enjoy – no matter which spot in Panama it is that you wish to visit.

- Bocas del Toro
One look at the shores of Bocas del Toro and you’re bound to feel a sense of déjà vu that you have seen the place somewhere. And you would have, because it’s where the popular reality television series “Survivor” was filmed.

A real estate property in Bocas del Toro is as prime a Panama property as you can get. This popular tourist attraction entices those who want to bask in the privacy of being in a glorious beach and lush rainforests as a setting.

- Chiriqui Province
If you’re looking for more than just an exotic beach getaway, then a Panama property in Chiriqui might just be it for you. Located in West Panama, the province lies on the border of Costa Rica. It’s the background to one of those idyllic retirement real estate properties which is a mishmash of adventures just waiting to happen.

Although investing in a Panama property is quite a ways from the city – Panama City is about six and a half hours away from the Chiriqui Province – it’s still the perfect beach-and-mountain getaway.

- Cocle Province
On the other hand, if you are looking for a beach front Panama property which is in close proximity to Panama City, then the Cocle Province is the perfect place for you. From here, the city is just over an hour away and it has a lot of tourist-friendly beaches amidst a beautiful mountain setting.

- Other Beautiful Beach Spots in Panama
If you’re a diving enthusiast, then a real estate property in the Coiba Island, near the Coiba Marine Park, is just the thing for you. There is already a good number of Panama property here which is owned by nature lovers. Coiba Island is said to be the best diving spot found along the Pacific Coast, from Columbia to Mexico.

The other real estate property options that you have which are near the glorious beaches in Panama include Boca Chica, Boquete, Casco Viejo, the Colon Province on the Caribbean, the Pacific Coast beaches near Panama City, the Pearl Islands and San Blas.

By: Laurie

A Trip Back in Time

Exploring the San Blas islands is a memorable adventure because once you set foot in it you will go twenty centuries back in time. The fierce Kuna Indians are the ones who govern this autonomous province and the national government hardly interferes with them. These people occupying this type of real estate in Panama have their own language, culture, customs and economic system. Their culture is very rich and they have their own wonderful legends, great music, exotic dances and distinctive dresses which have successfully avoided all influences of commercialism.

Tourists will love to explore this area, exploring the islands, going on fishing trips and learning more about its tourism. What’s more, there is a good amount of swimming and snorkeling to be done. Since the people are generally untouched or not influenced by others, their facilities are quite simple.

Go Exploring in San Blas Islands

The entire area of San Blas islands is dotted with reefs – with some of them being quite old by about several hundred years. The best time to go snorkeling and diving in this real estate in Panama would be between April and June. It is best to check out the islands of Kagantupu, Achtupu and also Coco Blanco. There are several flights each day to these islands from the city of Panama. If you want a bit of adventure and you have patience, you could even try catching a ride with one of the Kuna merchant ships which originate in Colon. These ships could drop you off in one of the islands which you can explore the whole day.

Cultural Significance

Real estate in Panama thanks to the San Blas islands is quite renowned because of their mola, or their arts and crafts. The women of Kuna are adept in making attractive rainbow fabric that have beautiful designs of jungle animals, birds and fish in the area, as well as geometric designs that might catch the attention of Picasso himself.

In terms of livelihood, they are still quite simple as the men make a living out of fishing from their canoes just as they had done during the time of Columbus’ arrival. Coconut palm tree running is still done and you should try a glass of this refreshing island drink. Indeed, the San Blas islands are one exotic destination well worth visiting.

No Panama visit is complete without a firsthand experience with Panama’s rich and still evident past. Take a visit to ruins of the old city, Panamá Viejo, which was sacked by pirate Henry Morgan in 1671 and is today the home of Panamá Viejo Museum, churches, cathedrals and fortifications from Panama’s colonial and buccaneer days.

Next, take a leisurely tour of “the shopping centre of the Americas,” where you will find such shopping venues as Via España, Albrook Mall, Multiplaza or Multicentro, and many others, offering excellent prices and collectively giving visitors a remarkable shopping experience.

For a change of pace, make a visit to the tiny island of San Blas, approximately a 30 minute flight from Panama City. The island is home to the Kuna Indians, native to Panama and owners of the “molas.” Enjoy Panama’s warm tropical climate in the beautiful islands of Bocas del Toro, perhaps the country’s most popular tourist destination, filled with countless excursions. Scuba diving, snorkeling, hiking, bird watching, and sun bathing are just a few of the many activities one can enjoy while visiting Bocas. Even quieter is the ecotourism paradise of Coiba Island south of the city of David. This island is mountainous and concealed in rainforest. Coiba is teeming with life.

Near Panama City lies Coronado Beach, bordered by the Pacific Ocean and boasting more than 5 km of white and black-grained sand beaches. Coronado offers all the facilities and comforts that international or local investors look for. With such a magnificent blend of affordable luxury and exquisite nature, it is no wonder Panama real estate is highly sought after for leisure, retirement and investing today.

This small, untapped country offers some of the finest diving, birdwatching, and deep-sea fishing in all of the Americas—yet only the most avid adventurers are aware of it. Panama boasts scores of deserted palm-lined beaches, miles of lush rainforests, great national parks, mysterious mangroves (where you’ll feel like you’ve been transported back to a time when dinosaurs walked the earth), steamy cloud forests, mountains, waterfalls, raging rivers, abandoned forts, as well as desert.

In Panama you can spend the morning diving in the Caribbean and the afternoon swimming in the Pacific. You can explore historic ruins of the colonial era…dive for Sir Francis Drake’s lead coffin (supposedly buried at sea near Portobello Bay)…see the rainforest in an aerial tram…ride a dug-out canoe to a native Indian village…discover the remote and mysterious forests of the Darién region right on the border of Colombia (where the roads end a few miles before the border, leaving you with the feeling you’ve reached the end of civilization)…come nose-to-nose with a red-napped tamarind monkey or a trio of colorful toucans…

Conde Nast Traveler, in an article from its February 2005 issue said “Panama has temperate rain forests, great surf and beaches, and more birdlife than any other country in Central America. Now…it also has a newly elected administration that wants travelers to enjoy every bit of it.”

Fortunately, Panama is a small country. In a short one- or two-week trip, you can see much of what this diverse country has to offer.

In this special report, the IL team proposes a plan to get the most out of 24 hours in Panama. From a traditional Panamanian breakfast to a trip to the Miraflores Locks to evening drinks in a little boutique hotel overlooking the Bay of Panama…we have it all thought out.

Breakfast in El Trapiche

Exploring the best Panama has to offer is hungry work. Start your day on a full stomach and head for breakfast in El Trapiche, a busy diner in El Cangrejo (Vía Argentina, tel. (507)269-4353). Here you can enjoy breakfast Panama style and indulge in a hearty feed of carimañol—a yummy roll made of mashed yucca and stuffed with ground beef and boiled eggs—and a side of corn tortillas, that more resemble silverdollar pancakes than taco shells. The bill should be less than $8, even with that second café con leche.

Trip to the Miraflores Locks

No trip to Panama is complete without seeing the “Eighth Wonder of the World,” the Panama Canal. According to the Panama Canal Authority “The history of the construction of the Panama Canal is the saga of human ingenuity and courage: years of sacrifice, crushing defeat, and final victory.” This statement, while true, doesn’t go far enough to describe the mighty toll taken by the building of the Panama Canal. Construction began in 1904 and took 10 years to complete. It remains one of the greatest engineering achievements of all time, completed despite landslides, disease, setbacks, and the loss of 75,000 lives in total. Engineers directed most of the actual construction, which cost $375 million, and involved the excavation of 240 million cubic yards of earth.

The Canal, 51 miles long, opened to shipping in August 1914 and was formally dedicated on July 12, 1920. In 1921, the U.S. paid Colombia $25 million as redress for the loss of Panama; in exchange, Colombia formally recognized Panama’s independence.

On average it takes a vessel eight hours to travel from one ocean to the other, passing through three sets of locks. The best place to see the Canal is from the Miraflores Locks (open 9 a.m. to 5 p.m., admission free). Make sure to get to the Miraflores Locks for 9 a.m. as this is when you are most likely to see large ships passing through.

Tamales in Casco Viejo

By now you’re probably feeling a tad peckish… Time to hop on a bus or hail a taxi and make your way toward Casco Viejo for tamales. If you’re in luck, you’ll bump into Luis Antonio Visuette on the streets of Casco Viejo, where he has been selling delicious homemade tamales, wrapped in plaintain leaves, for more than 10 years. With his Yankee cap and five-gallon bucket of hot and spicy tameles calientitos, Luis is hard to miss. These lunchtime treats are available in both large (50 cents), and small (25 cents), and are a real hit when washed down with an ice-cold drink. International Living’s local office is located in the Casco Viejo area, in the Cathedral Plaza, next to the Panama Canal Museum and just in front of the stunning Metropolitan Cathedral, so if you want to enjoy your tamales in our office (Luis will be making the rounds) call in for a Panamanian style “power lunch.”

Explore Casco Viejo

Located at the mouth of the Panama Canal, Casco Viejo is the oldest city on the Pacific Coast of the Americas…although it was there long before the Canal was built.

In fairness to history, the original Panama City (now known as Old Panama or Panama La Vieja) was founded in 1519, about two miles from the center of Panama City as we know it today. From here, expeditions were mounted to conquer the Inca Empire of South America and all of the wealth pillaged from Peru, Chile, and California flowed to Spain through Old Panama. It is no surprise that this booty attracted pirates like Henry Morgan, who looted the city in 1671.

During Morgan’s attack, this original Panama City was burned to the ground. Two years later, in 1673, the capital was moved two miles to the west, and present-day Panama City was founded. This is the area now known as Casco Viejo.

As the city was being rebuilt by the Spanish settlers, they decided to build a massive surrounding wall and a stronger fortress for its protection and to ensure that the enormous wealth in gold and silver that passed through it would never again be susceptible to the likes of Henry Morgan.

The new city boasted a cross-sectioned design of 38 blocks, with three main streets running from east to west and seven streets running from north to south. Unfortunately, this urban development was interrupted by various fires that devastated its streets. In 1737, the “big fire” destroyed two thirds of the city, and the “small fire” of 1756 destroyed more than 90 houses. These and other catastrophic fires help explain why so few true examples of Spanish colonial architecture exist today.

The fortress still survives, though, and today houses several important, cultural, and historic buildings and monuments. But it is the architecture of Casco Viejo that makes it so special. The old Spanish colonial style is overlaid with French balconies and architecture, remnants of the French inhabitants who made the initial attempt to build the Panama Canal in 1881. Over the years, a Caribbean influence also took hold and, today, Casco Viejo is a melting pot of architectural inspiration and style, with some buildings dating as far back as 300 years.

Museums, shopping, and fortune telling

Up until the early parts of this century, Casco Viejo remained a thriving cultural center. But as Panama City modernized, and as the automotive age made transportation easier, it spread outward, leaving Casco Viejo behind. The old city’s narrow labyrinth streets were difficult for cars to maneuver and its buildings were obsolete in comparison to modern skyscrapers being built. By the mid 1900s, Casco Viejo had gone the way of most city centers of that century. No longer the center of Panama City, it was too oppressed for the upper class and quickly became a poor area of tenement-style housing.

The area is currently undergoing a complete transformation, however. Restaurants and bars are opening with gusto, tourists are coming in growing numbers, and people from all over now want to make their homes in Casco Viejo.

In 1997, UNESCO declared Casco Viejo a Patrimony of Humanity. Today, it is revered as the historic center of Panama City. Two- and three-story houses with flower-adorned balconies overlook narrow streets. At its tip is French Park, where you will find the French Embassy and a monument to the hardy French builders who began the Panama Canal. On one side is an historical Spanish building called Las Bovedas, now housing an art gallery and French restaurant. Panama’s Supreme Court was once housed here. A walkway around the monument offers a nice view of the Amador Causeway, Bridge of the Americas, and Panama City’s skyscraper skyline to the east. A plaque commemorates the firing of canon shots to ward off a Colombian warship and solidify Panama’s independence from Colombia in 1903.

There are excellent museums in the Casco Viejo area, including the Museo de Canal. Here, you can learn about Panama’s history as the connector between the Atlantic and the Pacific from pre-Hispanic to modern times. Next door is the Museum of National History and across the way is the National Cathedral. Nearby is a small museum dedicated to religious art, found in the old Santo Domingo monastery. This is where you will find the famous Flat Arch, which reportedly helped convince engineers that Panama was earthquake-proof and a geologically stable area for building the Canal. A few blocks away is the old San Jose Cathedral, with gleaming spires inlaid with mother-of-pearl and its beautiful gold altar, intricately carved of wood and gilded with gold. This is a must-see when you visit Casco Viejo.

Casco Viejo is home to the Presidential House. If you want to see this, be sure to come on a Sunday as it is closed to the public for the rest of the week. Famous sons and daughters of Panama also make their homes here, including actor/singer (and now Panama’s minister of tourism) Ruben Blades, and boxer Roberto Duran.

Bargain hunters can take a break from the historical sights at Salsipuedes, which roughly translates to “get out if you can.” Located just before the entrance to Casco Viejo, it is Panama’s bizarre bazaar, a street so narrow and filled with vendors that it is dark at noon. A few steps away is Santa Ana’s Plaza, where you can have your fortune told for just $5.

Dine at The Bristol

To finish off your day in style, make your way to The Bristol Hotel, just a short taxi journey from Casco Viejo. Dining at the Barandas Restaurant at The Bristol Hotel is an event to savor. The Panamanian-inspired gourmet cuisine, restful ambiance, stunning presentation, elegant settings, and attentive service combine to create an unforgettable dining experience.

A Trip To Panama Caught Your Fancy?

Hopefully, this special report has given you a few ideas on how to spend your time in Panama, but don’t forget that this amazing country has much more to offer. Pacific Coast beaches near the city; Coiba Island National Marine Park; and the Darién Province to name just a few.