Thread: considering investing in vacation/rental house on the Western Azuero

Hi All,

I am considering investing in a modest vacation/rental house on the Western Azuero. I have been told that now is the right time because it is still undeveloped but has much potential. I would like to stay a month a year and rent out as much of the rest of the year as possible.

I am primarliy interested in fishing and surfing and would like to have close access to the beach. I am thinking one acre lot preferably with an ocean view within a couple hundred meters of the beach for the investment potential.

I know it is a broad question, but if I were paying cash what kind of prices/deals would I be looking at. I have talked to some developers and they have quoted 150,000 and above for this kind of lot and another 150,000 to build (2-3 bedroom, maybe 1500 square feet). I would like to keep it under 150,000 total for both house and land.

I am not planning on doing anything soon and plan to spend considerable time in Panama before making any decsions but I would love your thoughts on the area, the investment potential, rental potential, the ball park prices I mentioned above, and reccomended developers in the area.

Thanks in advance

If you want to buy an acre of land you´re looking at roughly 4000 square meters...the western Azuero is very undeveloped which makes for some pretty nice deals...I would try to find a piece of beachview property for around 10-12 dollars a square meter which would put the land at 40-48K and will take some hunting...depending on the condition of the raw land you buy, I would budget 5 - 10 K for developing the land, lawyer fees, and designing the house...depending on the materials you want to build with, of course, you´re looking at between 300 and 450 dollars a square meter to build your home...for a 2-3 bedroom nice house, I wouldn´t pay any more than 75K with all the bells and whistles...so thats 120-130K estimated.... for building on the western part of the Azuero peninsula, I would look for reputable builders in Santiago.

Originally Posted by SouthCentral

If you want to buy an acre of land you´re looking at roughly 4000 square meters...the western Azuero is very undeveloped which makes for some pretty nice deals...I would try to find a piece of beachview property for around 10-12 dollars a square meter which would put the land at 40-48K and will take some hunting...depending on the condition of the raw land you buy, I would budget 5 - 10 K for developing the land, lawyer fees, and designing the house...depending on the materials you want to build with, of course, you´re looking at between 300 and 450 dollars a square meter to build your home...for a 2-3 bedroom nice house, I wouldn´t pay any more than 75K with all the bells and whistles...so thats 120-130K estimated.... for building on the western part of the Azuero peninsula, I would look for reputable builders in Santiago.

Thank you for this information! I am curious, are you a developer/builder with experience building in the area?

Interesting info. I am curious, are you a developer with experience building in the area, or do you speak from personal experience having built a house there? Thanks!

Cubita is a residential and hotel project in the City of Chitre. The owners are proud to uphold the authentic traditional colonial architecture of Azuero within the construction materials and interior design.
For investors / residents, tranquility, quality of life and amenities such as the restaurant, spa, fitness center, social area with swimming pool are just some of the many benefits
There are luxury 2 bedroom apartments for around the $111,000 price point. They just signed a deal with the Wyndham Grand hotel chain to represent the on site hotel which is great for investors looking to create an income from the property management program.Their website is http://www.cubitapanama.com and for more information and a brochure of the project: Get Info - Homes & Condos in Chitre Panama - Azuero Peninsula
Their website is http://www.cubitapanama.com and for more information and a brochure of the project: Get Info - Homes & Condos in Chitre Panama - Azuero Peninsula

Originally Posted by AzueroAl

Cubita is a residential and hotel project in the City of Chitre. The owners are proud to uphold the authentic traditional colonial architecture of Azuero within the construction materials and interior design.
For investors / residents, tranquility, quality of life and amenities such as the restaurant, spa, fitness center, social area with swimming pool are just some of the many benefits
There are luxury 2 bedroom apartments for around the $111,000 price point. They just signed a deal with the Wyndham Grand hotel chain to represent the on site hotel which is great for investors looking to create an income from the property management program.Their website is Cubitá Panamá | Casas en Chitré, Apartamentos en Chitré and for more information and a brochure of the project: Get Info - Homes & Condos in Chitre Panama - Azuero Peninsula
Their website is Cubitá Panamá | Casas en Chitré, Apartamentos en Chitré and for more information and a brochure of the project: Get Info - Homes & Condos in Chitre Panama - Azuero Peninsula

funny they are going to build in a place where there is not a beach worth going to . because i would think most investors would have that on their list of wants .

I checked the website. This project isn't started yet it seems?

Originally Posted by dannybou

I checked the website. This project isn't started yet it seems?

yes it has started , it is on the bypass road around chitre and i drove by it today ,

Originally Posted by nakedguydb

yes it has started , it is on the bypass road around chitre and i drove by it today ,

It seems like a very small lot for space for everything to be build that is supposed to be. The online photos are very misleading. It is not surrounded by trees. But one should expect to be misled especially when it comes to living trees in panama.

Originally Posted by adamruns

It seems like a very small lot for space for everything to be build that is supposed to be. The online photos are very misleading. It is not surrounded by trees. But one should expect to be misled especially when it comes to living trees in panama.

those are not online photos , it is a idea of what it will look like . look at any Pr drawings , they are all the same , nice cars in the driveways , grass all cut , trees , etc , they never show the drunk neighbours unkept lawn with him in his lawn chair scratching himself LOL

So true... this is a typical scene everywhere, not only in Panama.

Thanks for the information SouthCentral

We are planning another trip down to Panama to scout locations and we are interested in checking out the West Coast more. We stayed in a few places around Panama last time and Boca Chica was our favorite so we want to explore the west coast (and specifically the West Coast of the Azuero) a bit more.

Finding information about this area is not as easy as other areas. But this maybe a good sign

I have found a few places to stay but not many. Would you have any recommendations for short term lodging in the West? We are looking at either one spot to use as a hub to go explore or maybe a few different spots

We don't have any requirements beyond the fact it has to have reliable internet access. But I know that can be a BIG requirement. Our current plan is to start near Santiago and go as far down the coast as we can, and still have reliable internet access.

I have found the following

Torio Resort - Internet appears to be limited

Hotel Heliconia Bed & Breakfast

Thanks in advance

sjc

bring your laptop , there is internet most of the way down the coast , go to claro and buy the modem and time cards and you can pull internet off of the cell towers , and most cafes , hotels, city parks etc all have free wifi

Thanks for the quick reply Nakedguy. Do you know of any short term rentals in the area or where I can search for some? As I mentioned its a bit hard to track down items specific to this area