(Panama Gringo) In spite of a recent decline in the real estate market in the states, when compared with real estate prices in Panama for comparable homes are similar or far lower. I often browse and search through real estate listing in Panama just to see what is out there and what is being asked. Property in areas like Pedasi or Boquette interests me in particular because it always seems to be crazily lower than prices in Panama City. After visiting the Azuero Peninsula on several occasions I’ve set my sights on a small house near Pedasi. As I’ve slowly began browsing real estate in the Pedasi area I’ve came across many clean yet modest 2-3 bedroom, 2,000 ish sq. ft. homes with many nice features. In my old city of Dallas a comparable home would cost anywhere from $100,000- $150,000. But in Pedasi houses like this are popping up for under $100,000 more often than you’d think.
This amazing little oasis that I recently discovered browsing homes in Pedasi has everything that I could ever ask for and then some. On top of being located in one of the most beautiful areas of Central America, (in my opinion) this house boasts too many amazing features to believe 3 bedrooms, 5 minutes from the beach, open kitchen, wrap around patio, 2,250 square feet, gated, spacious yard, a garden and covered parking for 2. What more could you ask for? How about an $89,000 price tag?
That’s was my reaction as well. My love for Panama’s weather, food, people and, all in all, culture may keep me partial to the idea of owning property on this isthmus. But, the amazing housing prices here may be what actually lead me to it.
Before you buy any real estate make sure you check out this post with 4 tips for buying real estate in Panama.
You’ll also want to make sure you read up on property taxes in Panama.