What's the price of a home, condo or apartment in Bocas del Toro?

Prices for a home in Bocas Del Toro, like everything else, is all over the place. You can buy an existing simple wood construction for maybe $80,000, or maybe $120,000 if it is on the water. Or you can build your own. In that case it will cost what you are willing to spend. $15,000 for a simple little house or cabana or $300,000 for a very very very fancy home, not including the land.  There is a lot on the market in Bocas right now, so it would behoove anyone considering moving here...

Prices for a home in Bocas Del Toro, like everything else, is all over the place. You can buy an existing simple wood construction for maybe $80,000, or maybe $120,000 if it is on the water. Or you can build your own. In that case it will cost what you are willing to spend. $15,000 for a simple little house or cabana or $300,000 for a very very very fancy home, not including the land.  There is a lot on the market in Bocas right now, so it would behoove anyone considering moving here to look around. Choose an independent real estate agency. One that does not sell what they own. As you consider whether buying or not in Bocas Del Toro, my best advice would be to rent first, at least for 6 months to 1 year, before committing to buying. This way you can experience how life really is, and you can also live in different places.  Your location will make a HUGE difference in your quality of life.
 

The home prices in Bocas del Toro, Panama vary depending on location, size and property ownership.  For an American style 3 bedroom 2 bath home on Isla Colon (the main Island of Bocas del Toro), prices start from around $200,000.  For the same style home on a nearby island (Isla Carenero, Bastimentos or Solarte) prices start at around $150,000.

 

The location of homes in Bocas del Toro is key when it comes to infrastructure such as electric, water and...

The home prices in Bocas del Toro, Panama vary depending on location, size and property ownership.  For an American style 3 bedroom 2 bath home on Isla Colon (the main Island of Bocas del Toro), prices start from around $200,000.  For the same style home on a nearby island (Isla Carenero, Bastimentos or Solarte) prices start at around $150,000.

 

The location of homes in Bocas del Toro is key when it comes to infrastructure such as electric, water and transportation.  Property ownership in Bocas del Toro, Panama also varies from Titled property to Rights of Possession Property.  Titled property is registered property and holds a higher value than Rights of Possession property which in short are squatters' rights.

 

(The picture above is of Isla Colon, Bocas del Toro, Panama.)

I would agree with Monique in that prices for real estate in Bocas del Toro are all over the place and it really depends what you are looking for. There are a lot of homes and land on the market right now so it is a good thing to spend a bit of time looking around. Come and stay for as long as you can to familiarize yourself with the neighborhoods and the islands. Choosing right will go a long way in your being happy here.

 

There are condos available (not on the...

I would agree with Monique in that prices for real estate in Bocas del Toro are all over the place and it really depends what you are looking for. There are a lot of homes and land on the market right now so it is a good thing to spend a bit of time looking around. Come and stay for as long as you can to familiarize yourself with the neighborhoods and the islands. Choosing right will go a long way in your being happy here.

 

There are condos available (not on the water) for as little as $58,000 and small lots available for as little as $15,000. For a condo 1 bed ocean view the price is around $89,000 or a home on the water is $135,000 on up. Sand beach homes are considerably more, starting around $300,000.

 

When you learn to live here (and love it here), you come to appreciate the mangrove islands and the over the water homes. You can jump off your dock to swim or snorkel and you don't track sand in your home all time. You can get to a sandy beach in a short time to spend a day at the beach. Living here is definitely unique.

 

As far as renting, a gringo style apartment will start around $400 per month, houses $600+. Do not come here during high season and expect to find a cheap rental; they are all full. Come during low season to find vacancy and more choices.

The cost to buy a home in Bocas Del Toro depends on where you are buying. The price of most of the houses in Big Creek is US $300,000 and up. That would be a nice 2-bedroom and 2-bathroom house. There is one for sale right now that cost $387,500 and it is across the street from the beach. It is a 2-bedroom and 2-bathroom house; 1,600 square feet upstairs and downstairs is a 1,600 square foot unfinished area and it is on a slab that has a patio where you could have your barbecue and a...

The cost to buy a home in Bocas Del Toro depends on where you are buying. The price of most of the houses in Big Creek is US $300,000 and up. That would be a nice 2-bedroom and 2-bathroom house. There is one for sale right now that cost $387,500 and it is across the street from the beach. It is a 2-bedroom and 2-bathroom house; 1,600 square feet upstairs and downstairs is a 1,600 square foot unfinished area and it is on a slab that has a patio where you could have your barbecue and a storage area that you could also finish.

 

In Saigon, you can get a casita for about $80,000.

 

You can buy a half an acre lot in Bluff Beach for a $150,000 and build your house on it.

 

In Drago, the houses that are for sale are from the town area. We have a listing there for a 5-acre lot for $580,000. We have a listing for a fixer-upper which costs $200,000. They are all on the beach.

 

In Carenero, local houses are cheaper but not many of them are for sale. The gringo houses are about $500,000 and up. Houses close to discotheques are around $200,000, which is cheaper than those in quiet neighborhoods. I have one listing there for a 2-bedroom and 2-bathroom condominium unit for $195,000 with sand beach in front of it.

 

In Solarte we have one listing for a home made of local hard wood for $169,000. It needs some renovation but you could get a lot of equity on that one. It is a big, 3,000 square foot home.

 

(To get an idea where these areas are located and for a short description of each one, please see my answer under "What are the main cities, towns, communities and developments of the Bocas del Toro area and what is each one like?")

 

 

The price of a home, condo or apartment in Bocas del Toro, Panama depends on where it is and on which island. The closer to town it is, the more expensive it is. Say you want a 1,000 square foot home. In the tropics of Bocas del Toro, less is more. You don’t need that big 3,000 square foot house here. Almost everybody is escaping that. They come down to Bocas del Toro and get a 1,000 square foot house for the least amount as possible. My wife and I have a 500 square feet and...

The price of a home, condo or apartment in Bocas del Toro, Panama depends on where it is and on which island. The closer to town it is, the more expensive it is. Say you want a 1,000 square foot home. In the tropics of Bocas del Toro, less is more. You don’t need that big 3,000 square foot house here. Almost everybody is escaping that. They come down to Bocas del Toro and get a 1,000 square foot house for the least amount as possible. My wife and I have a 500 square feet and it’s perfect for both of us.

A nice house in Bocas del Toro will run you US $100 a square foot for a 1,000 square foot home. A condo is very similar because it uses the same building materials. I figure it is a $100 a foot for a nice condo.

If you want to buy titled land, it can go anywhere from US $4 to $75 a meter (approximately $4,000 to $75,000 for a little less than a quarter of an acre).   There are people in Bocas del Toro with huge plots of land that they later realized they didn’t need. The trend now is to go less. Most people who live closer to town purchase a quarter to half an acre lots. These are actually small compared to the people that have 100 acres and use a small fraction of it. A lot of people came down here a long time ago and they thought they needed a huge amount of land. Now they realize that a huge plot of land can be a hindrance. A lot of the land that many of these people purchased was jungle, so there was not a lot they could do with the land that they owned.

(Bocas Town restaurant and bar property with living quarters on second floor, pictured.)