Located on the Western Shore of Panama's Azuero Peninsula, Surfside Properties Panama S.A. is developing the beautiful gated residential community "Morrillo Pacific Heights". The exquisite shoreline faces the Gulf of Montijo and the Islands of Coiba and Cebeco. The Western Azuero Peninsula of Panama represents one of the best international opportunities for cost effective, tranquil retirement and investment relocation in these uncertain financial times. The peaceful ocean setting and the friendly local residents make one feel they have stepped back in time.
Panama runs east and west, with the west end bordering Costa Rica. The eastern
boundary for investment is Panama City, with the Darien Province a non developed buffer zone bordering Columbia. Other than the Panama canal expansion with associated industrial and commercial zones, and the unique Bocas del Toro area on the Caribbean shore, most residential development occurs on the Pacific coast and some interior highland areas. The city of David near the Costa Rica border is the country's second largest, and is the service center for the development area of Boquete. The province of Veraguas borders both the Pacific and Caribbean, and includes the Western Azuero Peninsula. All of Panama is well below the hurricane belt.
Panama City is the hub of the country, experiencing a large construction boom over the past few years. Real estate purchases in the city will be for lifestyle rather than a ground floor investment opportunity at this current stage.
Morrillo area - Western Azuero Peninsula
The western shore of the Azuero Peninsula is Panama's new real estate investment opportunity for safe, relaxed cost effective residential retirement. The ocean views are fantastic; the fishing world class, and the pleasant country drive through the green rolling hills from Santiago makes getting here a pleasure. From the main inter American Highway to Atalaya, resurfacing asphalt is completed. Repairs are now underway on the Atalaya to Mariato section, with Mariato to the south end now completed. Major road construction has just been committed for the Western Azuero road; see Tuckspanamablog for info. Basic supplies are available in the Mariato, Torio, Morrillo and Arenas beach regions, including two gas stations, several small grocery stores, and a few local "typical" restaurants. A medical clinic complete with pharmacy and dental office is situated in Mariato; this clinic is extremely cost effective. A new branch of the Banco Nationale has opened in Mariato. The second of numerous cell towers has just been completed located between Torio and Morrillo. The major supply center is the city of Santiago, population approximately 79,000, a little over one hour drive away. New commercial construction in Santiago is booming, with new shopping centers, hotels, and other construction througout the city. This region is only now opening up to development, providing an excellent investment opportunity. In the planning stages are a deep water marina, new gas station and convenience store, bed and breakfasts, small hotels, restaurants and numerous residential projects. The infrastructure in Panama is generally superior to other Central American countries, specifically the quality and maintenance of the country's roads. One can access some of the more remote locations of Panama on good paved road systems.
The drive to Panama City from Santiago takes about two and a half hours on a four lane divided highway. Panama City is experiencing a construction boom like few other world cities. The modern downtown core is expanding outward, with new high rise construction replacing dilapidated former buildings. Entering the city via the Bridge of the Americas, one does need to pass through portions of impoverished areas to access the new core. The modern malls and plentiful restaurants offer very affordable prices. Hotel costs are on par with North America.
Panama titled property provides financial security in real estate acquisitions. The presently undervalued Western Azuero Peninsula provides one of Panama's best opportunities. The regional district of Mariato is supporting the concept of a new marina on the western peninsula. Preliminary meetings have received the support of the local community; a pre-requisite for a marina to proceed.
We do recommend visiting the web site of Retirement Wave, a relevant source of information on Panama. This independent site provides current information on relocation to Panama, and is highly recommended. Retirement Wave also has produced a developers code of conduct.
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