Real estate property hotspots

Boquete

Boquete

Boquete

Boquete, nestled at the foot of Volcan Baru at 3,478 ft (1,060m), is famous for its cool climate, green valleys, rushing rivers and mountain vistas.  The rich, fertile soils in the area provide an ideal setting for floral exportation and coffee growing.  On some nights you’ve got to wrap up warm as the temperatures can dip to 50 F (a rarity in Panama), but mostly night time temperatures stay in the mid 60s.  By day, visitors spend their time bird watching, horse-riding, white-water rafting, hiking and fishing.


The Boquete real estate buzz started several years ago with Valle Escondido, a gated resort community with a 9 hole executive golf course, just outside town. This buzz is set to get louder as the $30 million upgrade to the primary runway at the Enrique Malek International Airport in David gets underway.  The runway is being lengthened to allow 737s and the facilities to handle international traffic are being added.  The ability to accept international flights to David will be a strong boost to the second home market in Boquete, located just 45 minutes away on a recently improved road.


There is no doubting that Boquete is firmly on Panama’s real estate map.  It's becoming a well established second home and retirement destination with some of the county's finest boutique hotels and restaurants, bilingual medical services, many banks, as well as golf.  Property investors can choose from a range of offerings, at different price points, all designed to make best use of the spring-like climate and pleasant natural setting.


The financial crisis of 2008/9 shook things up a bit, and in it's aftermath we're seeing the real estate dollars trend towards the more established projects with completed property and ready infrastructure, and away from the more speculative offerings.


Getting to Boquete, Panama


Instead of driving the 7 hours from Panama Ciity, most visitors fly to the domestic airport at David (which is currently undergoing an updgrade to receive international flights) and drive the 45 minutes to Boquete.  The road from David is paved as are most secondary roads in the area.


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Overview of the Area




Real estate market information


Data relates to the period 2009/2010


Recent reviews

Learn from other investors

20.10.2011,

Janeth

Hi, I am a real estate professional with Casa Solution in Boquete. Here are some of our thoughts about the area. If you choose to visit, wed be happy to be of service. About Boquete in Chiriqui Province Nestled in a cool and verdant valley, Boquete in Chiriqui is a deeply beautiful mountain community blessed with yearround springlike weather, incredible views around every corner and warm people with a rich culture. Boquete boasts a growing number of amenities including excellent restaurants, spas, hotels, shops, supermarkets, gyms and endless opportunities to experience the natural wonder of the region. Boquete is experiencing significant growth and that development is expected to escalate partially due to two major infrastructure projects underway. Highway expansion Construction is well underway the main road that links Boquete to David Panamas third largest city is under expansion from two simple lanes to a four lane highway under a 117.6 million contract. This will make the area far more accessible to tourists and new residents. Airport expansion There is a four phase program to dramatically upgrade the international airport in David. 27 million has already been allocated, the first phase of runway expansion is already complete, and the new massive terminal is going up quickly. The existing building currently services immigration and customs needs as it receives regular flights from San Jose, Costa Rica. The new facility will be much larger and better facilitate the arrival of larger planes with more passengers. All of this is in preparation for direct US flights to David though formal and firm announcements or routes will likely come after terminal completion. Over a Thousand new arrivals Boquete has a thriving expatriate retiree and lifestyle community. Well over a thousand people from the United States, Europe, Canada and other regions have chosen Boquete as their new home for a wonderful and exciting new lifestyle. So Many Things to Do As a result there are a wide range of social activities including a weekly Tuesday market, English language social groups, and many of the newcomers integrate through Boquetes extensive charitable network. Since so many people are new to the area, making new friends in Boquete is pretty easy. Its a very social environment whether you live in or outside of Boquetes fine gated residential communities. Read more about these Boquete developments in the current Casa Solution newsletter available at www.casasolution.com. Feel free to email us with questions at revcasasolution.com.

Reviewer has visited the hotspot: Yes

Reviewer has invested in the hotspot: Yes


13.07.2010,

BoqueteForSale.com

The real estate market in Boquete heated up quickly in early 2003 and remained hot until the real estate crisis in the United States in late 2008. Prices pulled back for the greater part of 2009, but we have seen a resurgence of buyers into the market this year, fueled mainly by a fear of new taxes and regulations in the United States. Inventories of existing homes are dwindling and there are signs that the overall market is picking up again.

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Reviewer has visited the hotspot: Yes

Reviewer has invested in the hotspot: Yes


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