As more and more people catch on to what Boquete proper has to offer, you need to look elsewhere in the region for the best deals.

That said, you can still find good deals on older, established farms and tiny pockets of property near Boquete, but sellers can have unrealistic ideas of what prices should be. Remember, in markets like this one, you’ve no reliable way to do comps. So owners don’t have any real idea of what their land is worth. They take their chances when a gringo buyer presents himself.

Some believe the market has gone beyond itself in Boquete. I’m not so sure but still I think it’s important to stay informed and why I’m looking beyond Boquete.  I’d like to  introduce you to another town in Panama’s inland Chiriqui region offering the same pleasant, spring-like climate of Boquete it’s called –Volcán.

Volcán doesn’t have all the amenities and infrastructure of Boquete…but neither does it have the developed (some might say inflated) pricing. You’ll spend half as much to own here as you would in Boquete…and you’re buying the same spring-like climate year-round, the same fresh mountain air, and the same beautiful scenery.

The small mountain town of Volcán doesn’t boast a big expatriate community, grand housing developments, golf courses, or a thriving social scene, but, at 5,000 feet elevation, it does offer a cool climate (something that can be a welcome escape from hot, humid Panama City) and great outdoor activities. It has a comfortable and refreshing small-town feel. This is an area I’ll be paying close attention to in coming months…and that I think is worth a look from you, too, if Panama’s interior is of interest.

I explored this area recently and here’s what I found:

* An old, rustic blue house on a 1/2-acre lot just outside town–on the market for only $10,000. It’s in need of repairs and restoration, but it’s just off the main road and a two-minute drive to town.

* A 2 1/2-acre lot along the roadside a bit closer to town. This one isn’t dirt cheap (it’s priced at $120,000), but it could be the perfect site for a restaurant or small cantina.

* Just outside town in an area called Paso Ancho, with a view of Volcán Barú, I saw 15 acres for sale for only $200,000. With that much land, you could create your own private haven…or invest in your own small development.

* Right in the town of Volcán, I saw 1 1/4 acres, on which is sitting an old, bright green, three-bedroom, two-bathroom house in desperate need of a paint job. But it’s priced at only $50,000. You’d pay at more than twice that in Boquete right now.

I’m going to be watching this little town and its emerging market closely. I’m sure that, in the coming months, I’ll find even more and better deals.

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