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Overseas Real Estate: Ranches and beach houses in Panama from $65,000

Posted April 11, 2008

‘The bargain-beautiful Panama you’ve been reading about for years is alive and well…The town center of Las Tablas greeted me with vestiges of Spanish-colonial Panama: houses with red-tile roofs and ornate grillwork, and even some quinchas, traditional homes made of earth and clay. Property prices are unbelievably low for such a desirable location.’ – Jessica Ramesch, The Panama Insider

by Jessica Ramesch, editor of The Panama Insider, a publication of International Living

The bargain-beautiful Panama you’ve been reading about for years in International Living is alive and well… especially in Las Tablas, province of Los Santos.

This little colonial town differs from hot retirement destinations like Panama City, Boquete, or Bocas del Toro. It’s in an area surrounded by farms and ranches, and that makes the climate, the landscapes, and the people, unique.

The locals are proud of their work ethic and keep their town neat and clean. The climate is hot, but less humid than Panama City. Las Tablas is not on the coast, but it’s close to a good selection of beaches, including Uverito, just a 10-minute drive from the square.

The town center of Las Tablas greeted me with vestiges of Spanish-colonial Panama: houses with red-tile roofs and ornate grillwork, and even some quinchas, traditional homes made of earth and clay. The unpretentious town square is dominated by the simple façade of the Santa Librada church, the golden altar within the only visible symbol of wealth.

Property prices are unbelievably low for such a desirable location. Sure, there are other places in Panama where you can buy a home and lot for less than $40,000…but I personally would not want to live in most of them. In my opinion, these places are too far from the city and there’s not enough to do. Las Tablas, however, is different. The many activities, genuine people, and overall authentic Panamanian feel of the place made it feel like it truly could be home… a home I can afford.

Not many people know about this area, which means the property prices have remained low. Much of the land for sale consists of large tracts. But you can find smaller lots…if you know where to look.

One of the first properties I found for sale is a three-bedroom, single-bath home. It’s a simple box construction, like most modest Panamanian homes, but it sits on a lot of nearly 5,000 square feet, so there’s room to expand. Price: $30,000.

Another house is on offer for $40,000. It’s in a quiet part of the town, away from the plaza, and has three bedrooms, two bathrooms, a large terrace, and a small pool.

Though you won’t find luxury properties and fixtures in Las Tablas, there are quite a few houses that stand out because they’re of a better quality. One such home has an extensive lawn, three bedrooms, two-and-a-half bathrooms, a studio, and a garage. Price: $105,000.

Another home on the beach in Uverito is for sale for $65,000. It’s set back (second row) with an empty lot just in front of it that could potentially be sold (to date, no one has wanted to buy this lot, as it’s small). The house is more than 3,000 square feet and costs $65,000. The neighbors here include Las Tablas’ first expats…a couple of guys from the U.S. and a British man and his Canadian wife.

Las Tablas is virtually uncharted territory for foreign residents; you’re unlikely to encounter other English-speakers, including doctors or dentists. And you’ll find neither the range of U.S. products available in Panama City, nor the lively nightlife. That’s probably the reason most things are still so inexpensive. I’d go as far as to say they’re dirt-cheap compared with any of the other places you might consider living in Panama. You can get a pizza for $2…a beer for less than a dollar…a half-pound of coffee for $1.65.

This is truly a place where you come to live like a local and enjoy the slow, easy pace of life. I felt the city stress ebbing away almost the minute I got here.

In the main square, people of all ages sit on benches, greeting each other, eating ice cream… even the ones in business suits looked unhurried. I found myself slowing my pace and smiling back at people. In the evening, the houses I passed were mostly quiet, with clean-swept porches and thick whitewash, adding to the overall neatness of the town.

If I didn’t know any better, the sense of tranquility would have fooled me. But beware… Las Tablas is far from ho-hum. During Carnival, this town bursts into color, filled with multihued parade floats, scantily clad Carnival queens, glittering gowns and getups, ear-splitting murga bands, and, most of all, throngs of people from all over the country, cramming into the modest plaza.

Jessica Ramesch, The Panama Insider, International Living

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