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Anyone have any knowledge on buying land in and around Chitre to build a house on or as an investment?
Or buying land in Panama?
I have a few local contacts in the area but would like a more worldly view on it as well. Devaluation of the US dollar and world inflation being two of the things that local contacts will not understand.
if you are sure that is the area you want to live or buy in , then you come down here and stay for 6 months and rent just to make sure , then while you are here you start looking and talking to the locals . anything less and you might not be happy in the end , as alot of people who buy at first sight and not doing their homeworkOriginally Posted by adamruns
Maybe you can open a Leonardos there and modify the business model a bit.
or a lenos and carbon , hmmmmm
I live in Panama. My girlfriend lives in Chitre. Wants to live there in the future as well. We have been looking but the process is not that easy. Usually just a sign with a number. Maybe the amount of square metres for sale.
Lots of building going on now. Friends places have doubled in a few years. Making prices today very expensive. $15 - 20 metre is a good ballpark. I feel its very speculative. But am not sure who are the ones that are buying.
I think the bigger gamble is deciding where to buy then to buy or not. Even though to buy or not has to be answered first.
I am most likely either buying land for 1 gringo sized house or buying more land with the idea of subdividing later.
Once that is done I will have questions on how to get a decent house built.
I think there is one in the new $21 million dollar new mall. Which expects traffic of 25 000 per day I read. I spent a morning at McConalds using their wifi and 25 000 would be a stretch unless its pay day.
The parking garage is horrible. Very small and the spots are made for Accents while everyone drives trucks.
On second thought the mall may have the other steak fast food place that Multi-Centro has. Although I have a good idea for a fast food restaurant for Chitre and the rest of the interior.
Just make sure to build your own infrastructure, such as sewer, water, roads, electric connections, fiber optics and such that the government is refusing to be of assistance with (or when they try they fail).
http://www.panamaforum.com/living-pa...os-santos.html (Chitre, Herrera, Panama - The Buttplug of Los Santos)
I have also spent quite a bit of time in Chitre and have to yet to spend a day there in a variety of hotels with more than 4 hours to consecutive internet service.
You are going to be truly miserable living there from your past posts.
well is your girlfriend a local ? if so that will be a big help . not knowing what you want is the first prolbem to solve then the leg work is up to you . everyone has their own idea of perfect .
YOU CRAZY!
A local girlfriend will just be a pain in the ass to drag along. You will end up fighting because she will have no solutions to offer, neither will she know nor understand a fkn thing here. HAVE FUN WITH YOUR LADY - do not get her involved in efficient and streamlined businesses that require a smooth supply chain - you might as well kill her on the spot instead, because you will hate her fkn guts within 2 months. She is the same as them, never forget that. She always will be. She is not special nor different.
you are truely screwed up . you really need to get help . the little voices you hear in your head really are not your friends .
Disregarding two posts above.
Yes she is a local which helps a lot. In looking for land and everything but a non locals view/advice would be great. She knows that land is going up and knows people that are selling.
It would be nice if I could talk to someone that is buying/bought on here or through her.
I have no idea how to value the land. I can only looks at what other people are asking and compare land, area as well as jew them down.
What is a good % discount I should start negotiating at.
as you can see adamruns it would not be a wise choice to take a gringo on as a partner in you business idea . some of them have prolbems seeing what a great country with the worlds best people, it is here .
It all depends on price and whats available inregards to buying land for one house or many.
I know what I want land wise for myself but know I am not going to get that. Either on the beach or mountain top or with a river running through the property with a nice waterfall. Not in a crowded area but ideally able to walk to a chinos, long walk to a super market and being able to flag down a taxi. Those can come later as more houses are developed. Also fruit trees and no flooding.
In a perfect not a lot of construction in the future but I will have to live with that.
in panama the value of land can be different from each other in many ways , two fields right next to each other can have huge price spreads . a friend bought some 8 months ago for 40 cents a meter , with distant ocean view , the lady next door want 3 a meter with no view . offer only what YOU think it is worth , no more . some locals are now seeing that it is not 2006 in the world anymore , some still think the gringo is a walking ATM machine loaded with loot . if you are thinking of a single family home have a drive up to the Ocu area , beautiful views of there mountains , cooler than chitre . a nice place in my mind
Ask your girlfriend how the closing process works.
The land registry in Panama is well known as THE most corrupt government organization in the country. Ask her how that works.
Ask her to put in all lots currently for sale in Excel and sort them by price per square meter.
Apart from incorrectly informing you that land values are going up, how else has she helped?
You should know that MrWooHoo listed some land down in the general area for $5 per M2 in 2008 and ended up taking 85 cents per M2 late last year or early this.
Anyhow, when you buy land, make a budget for EVERYTHING and figure out the TOTAL cost for having a business in the location. Then get information from similar stores by spending days if not months in there counting customers and sales.
sorry forget the beach in chitre , they got 200 meters of mud flat and then the ocean . you will have to drive to a beach if you want beach
Nice man,
But i want to add one thing that keep in mind before the buy the land you should to see that where you see that place in the future either that place will be commercialize or block.
I have to agree with the forum...Chitre is the worst place to live on the Azuero, and probably one of the worst places to live in Panama...I donŽt like to bring the negativity but Chitre is a shithole. If your girlfriend is sharp she should be planning to get out of there...otherwise have fun hanging out with her and her friends in Chitre....if youŽre dreaming of waterfalls and beaches look elsewhere or youŽll have to commute to your dream spot and whats the point of that....to answer your question, there is tons of land available in and around Chitre...pay what youŽre comfortable paying, 1000 meters for 20 bucks, is only 20K...1 hectare at 10 dollars a meter is 100K...but whatever youŽre still in Chitre...
well beauty is different to every person . i dont live in chitre , i live close enough to shop there lots . its not perfect but in my eye it is 100 times better than the city . at least it is close to so good beaches , las tables , pedasi etc shopping is not big city but not bad , a bit hot because it does not get much wind , but if i was him i would go up to Ocu and have a look , only a few minutes out of chitre and beautiful views from up there .I have to agree with the forum...Chitre is the worst place to live on the Azuero, and probably one of the worst places to live in Panama...I donŽt like to bring the negativity but Chitre is a shithole. If your girlfriend is sharp she should be planning to get out of there...otherwise have fun hanging out with her and her friends in Chitre....if youŽre dreaming of waterfalls and beaches look elsewhere or youŽll have to commute to your dream spot and whats the point of that....to answer your question, there is tons of land available in and around Chitre...pay what youŽre comfortable paying, 1000 meters for 20 bucks, is only 20K...1 hectare at 10 dollars a meter is 100K...but whatever youŽre still in Chitre...
I am renting a house in chitre for a year. So that will give me time to get idea about Chitre.
There are a lot of great things about chitre but a lot of great things about other places. I do not think I am ready to live in Ocu although I have never been there. I like some amenities. I am sure that will change.
Ideally I would like to live in a "mexican beach town" but not 100% touristy. But with none of the problems and taxes associated with Mexico. So far I have not found that in Panama.
Pedasi down the road 50 minutes from Chitre is much closer to a beach town. While there's a bit of development being done mostly by Israelis there, it's not too noticable currently. It's also a clean and beautiful town, and is within driving distance of one of the best beaches in Panama (Playa Venao).
> bought some 8 months ago for 40 cents a meter , with distant ocean view , the lady next door want 3 a meter with no view
Yes, this range is typical in Panama. If you are looking at rural land, then always compare to what the land is worth for cattle grazing. Not sure what this is now, perhaps the $.40/meter.
With beachfront, watch out for non-titled land (generally a bad idea in my opinion).
Personally, I would pay $5/meter for the right titled but remote beachfront. But that would be to enjoy it, not as an investment.
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