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Pedasi, Panama: Still Drawing the Luxury Crowd—Page 2

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Costa Pedasi development

If you don't want to take the 45-minute flight you can drive the 4 and half hours to the country's capital, where you will find all the entertainment, culinary and cultural amenities that you might expect from a city its size. On the opposite end of the spectrum, the Pedasi region is overflowing with natural adventure including the Coiba Island national park nearby, sport fishing, snorkeling at the nearby reef, and watching the baby tortoises hatch on nearby Isla de Cañas.

Add that to the 15 million dollars recently approved to improve the local highways and an upgrade of the town's water and water treatment system—two issues that have long been struggles in this area of the country.

"In the past ten years significant infrastructure developments such as fiber–optic internet, more and better roads, and property development projects of many types have positioned Pedasi for a second wave of growth," says Adams.

Costa Pedasi pool

Where to Buy?

The town of Pedasi itself continues to experience moderate real estate development. The flagship Azueros project by architect Gilles Saint-Gilles is still a strong option for buyers, and they have an impressive reputation for quality building and eco-consciousness. The current developer of this property is selling 40 lots of 1,000 square meters for $80-120 a square meter, and the development’s finished homes sales are still strong—they run from $485,000  E,000,000.

Another development, Costa Pedasi, offers oceanfront homes in a 24-hour security gated community. Their amenities include a Club house and pool, and access to the twp-mile long Playa LaGarita. Their properties run from the mid-$300,000s to more than 2 million dollars.

The area's building hotspot right now is Venado Beach just down the road, with three developments leading the way: El Sitio Village, Blue Venao, and Villa Marina. El Sitio Village and Villa Marina are both condominium communities with the Villa Marina lodge and El Sitio Hotel providing a similar service as Villa Camilla does for those interested in buying property in the Azueros project—it give potential buyers an opportunity to get to know the area, the property, and its amenities. Where once there were only one or two options for luxury stays in the area, the choices are proliferating now.

Villa Luna Mar

If you have the energy and money to strike out on your own, there are several land options outside the luxury oceanfront development. According to the folks at Panama Equity Real Estate, there are still many beachfront parcels—and homes—available outside of Pedasi (particularly near Los Destiladeros beach). These lots are of course in the highest demand (and therefore the most expensive).

For anyone looking for a little more land there are land parcels between Pedasi and Venado for around $8,000/acre. These properties might not have ocean views, but they do offer a vista of the beautiful surrounding countryside.

The Future of Pedasi

This area of Panama is bound to continue its steady-as-it-goes growth. Recently the city was the centerfold of International Living, a magazine dedicated to ex-pats living abroad and those who want to make the leap. The town was also just added as an official tourism destination with the Panama department of Tourism.

The area is ripe for a golf course or other large tourism infrastructure project and real estate sales continue at a healthy clip. Karla Adams says "Who knows if we will continue to develop at the rate we’re going, but the town continues to become more ideal as a second or even primary luxury home destination."

Villa Luna Mar

Barring any severe natural disasters Pedasi, Panama can probably be counted on as safe investment for anyone currently looking to buy. And for anyone looking for a little luxury away from the hustle and bustle, the Azuero Peninsula area and its ten pristine beaches could be the X marks on your map to paradise.

Story by Lydia Carey, photos courtesy of Open Door Panama real estate.

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