What's the price of a home, condo or apartment in Volcan and Cerro Punta, Panama?
Allen Rosen - Chiriqui Coastal Real Estate
Five or six years ago, before the Great Meltdown of 2008, Volcan boosters liked to say that Volcan was going to be 'the next Boquete.' The reasons were -- and still are -- obvious: similar hilly terrain and climate, cooler than the coastal plain.
Volcan's great advantage then -- and now -- is that is it less expensive than Boquete. Boquete is a half- Gringo / half-Panamanian tourist town, Volcan is an old fashioned Panamanian agricultural town. There are a few...
Five or six years ago, before the Great Meltdown of 2008, Volcan boosters liked to say that Volcan was going to be 'the next Boquete.' The reasons were -- and still are -- obvious: similar hilly terrain and climate, cooler than the coastal plain.
Volcan's great advantage then -- and now -- is that is it less expensive than Boquete. Boquete is a half- Gringo / half-Panamanian tourist town, Volcan is an old fashioned Panamanian agricultural town. There are a few hundred Gringos living there, but they are vastly outnumbered by the locals, who give the town it's flavor.
House prices are lower in Volcan than in Boquete. How much lower? Well, that is hard to be precise about since the housing stock is very different. Most houses in Volcan are Panamanian style houses, simpler and less luxurious than the typical Gringo house you will find in the gated communities of Boquete.
Land prices are maybe 50% lower in the Volcan area than around Boquete.
Some of us think the area around Volcan, going all the way up to Cerro Punta and Rio Sereno, is vastly more beautiful than Boquete.
But let's keep that a secret,so the Boquete people don't start moving in and driving up the prices!
Posted April 21, 2013
John Gilbert - PanamaKeys
There’s a dichotomy of price points of a home, condo or apartment in Volcán, and the determining factor is if you want to buy a Panamanian-style or an American-style home, both of which are available. You can buy Panamanian-style homes from the low-income housing style homes for under $100,000. There are not very many of those but they exist. On the other hand, you can buy American-style homes in Volcán starting at $200,000. I have...
There’s a dichotomy of price points of a home, condo or apartment in Volcán, and the determining factor is if you want to buy a Panamanian-style or an American-style home, both of which are available. You can buy Panamanian-style homes from the low-income housing style homes for under $100,000. There are not very many of those but they exist. On the other hand, you can buy American-style homes in Volcán starting at $200,000. I have quite an impressive home listed for $1.88 million right now. In Miami for example, what’s worth almost $2 million here will cost $15-$20 million.
A two-story 2,500 square foot American-style 4-bedroom and 3-bathroom home with a casita on a 1-acre lot would cost at least $269,000. That’s a fairly normal price for an American-style home.
(Estate in Volcan, Panama, pictured.)
Posted May 20, 2017