Many retirees are not looking for the urban hustle of Panama City or the business vibe of Costa del Este. Even the beach properties of Gorgona and Coronado have not answered the call for those seeking a location with a more moderate temperature, laid-back feel, and generally lower cost of living.
Boquete, a small town on the Caldera River, in western Panama has been attractive to retirees for years, but the lack of housing has always been a challenge. A town of just over 20,000, it is less than 40 miles from the Costa Rican border and over 340 from Panama City. Its elevation of almost 4,000 feet provides a year-round spring-like temperature and the surrounding Chiriquí Highlands are home to coffee plantations and the Barú Volcano National Park.
Direct Flights Into Boquete
Even though it’s located in a more remote section of the country, it is serviced with direct flights from three international airports in David, Panama City, and San Jose. A new highway connects this high-elevation city to two oceans located by vehicle fifty minutes from the Pacific Ocean and 2.5 hours drive to the beautiful beaches of the Caribbean Islands.
Boquete offers residents and visitors many appealing aspects such as a vibrant music scene, some of the world’s most beautiful flowers, endless bird-watching opportunities and coffee harvested from Gesha trees, the most prized coffee on the planet. There is hiking and zip lining for the active types and plenty of great restaurants for those who enjoy the local farmers’ bounty that comes from the rich soil of Baru Volcano.
Completely unique to the market, accommodating the need for both rental and residential offerings, is a new housing project, Pinoalto. Construction will start on this new residential complex in Boquete and is offered by Panama’s premiere real estate developer, Empresas Bern. The project will bring a total of 98 units in two main buildings, ranging from just over 1,000 to 1,500 square feet of living space offered in one-, two- and three-bedroom floor plans. All units have two full bathrooms, and high-end kitchens, with a porch-like entrance, and open lobbies bringing in the fresh air and beauty of the verdant valley in which it sits.
On-Site Medical Care
Another appealing aspect of the new project is on-site 24/7 medical care. Even though the second largest, and one of the most advanced healthcare facilities in Latin America is less than fifty minutes away, the developers realized a desire to augment current healthcare options for day-to-day medical access. An on-site medical presence will be tucked into the Pinoalto complex, providing even more reasons for easy living in Panama’s beautiful interior.
Because Boquete is lesser known than its two neighboring big brothers– Costa Rica and Panama, individuals are often surprised at the depth of lifestyle that Boquete offers. Many think its only real attraction is perfect year-round weather, but there is so much more!
Outdoor Activities Abound
Outdoor activities call many to hike the higher elevation of the inactive volcan, Baru. Trails offer everything from the very easy to the challenging, which should only be attempted with a local guide. There are several spas that offer regular services such as massage, facials, meditation and steam rooms. For the more active, consider Pilates, tai-chi, cross training and Zumba!
But, high-intensity activities are not the only option in Boquete. There are service clubs such as Rotary, two Spanish schools, gardening clubs and the ability to do volunteer work with animals and children. Many hours can be passed reading and simply enjoying the beauty of nature. If you are artistic, there is a robust arts environment and the local theatre group is always looking for new talent.
Grocery Shopping Is So Yesterday!
Some residents find going to a grocery completely unnecessary except for occasional items such as sugar or imported spices. Boquete is often referred to as the “breadbasket” of the country since 80% of the produce used in local consumption is grown in and around Boquete.
European-styled bread and pastries are on offer from local farmers who sell from the roadside in addition to fresh fruits and vegetables, eggs, smoked sausages, poultry and meats. Honey from “Boquete Bees” is also readily available. Every Tuesday there is a gathering of farmers and artisans who sell their wares to eager patrons in what is known as “The Tuesday Market”.
Because of the availability of readily available ingredients, gifted chefs have been attracted to Boquete and the result is restaurants with incredible offerings. Peruvian, French and Asian restaurants are only the beginning of the foodie options. Cafeteria buffets and fondas offer tasty options for only a few dollars.
Housing Concept Highly Rentable
Along with everything positive about Boquete, this housing concept is especially attractive to investors. Adapting to the new global trends of renters looking for short-stays, the explosion of eco-friendly tourism in Panama, the location near, but not adjacent to beach-living, makes it perfect for tourists, producing higher ROI than the long-term renter. Of course, the long-term option provides a stable financial stream and ex-pats are encouraged to rent before they buy if they are new to Boquete. Nomad renters who can work from anywhere, are especially attracted to Boquete. They not only enjoy the steady connectivity of excellent internet and cell service they love the lower cost of living and the availability of an active lifestyle.
This versatile investment, capitalizes on Panama’s lower cost of living, expanding GDP, the ability to produce a high Return On Investment by offering a hotel-style operation along with long-term residential living opportunities. Government tax incentives and builder financing, low crime, a temperate climate without the worry of natural disasters, first-world communications, easy access to the freshest locally-grown fruits and vegetables and a wide variety of fresh fish is all part of this new project.
For more information, please contact me about this exciting new project and others in Panama. My phone in Panama is (+507) 6981-1717 and in the United States (502) 630-0318 (U.S.). My email address is liz@empresasbern.com. I’d love to hear from you.
Copyright 2023 Liz Larroquette