So, you’ve heard about the paradisical Caribbean archipelago of Bocas del Toro and you are interested in buying property there. With all of the questions you may have about real estate in Bocas del Toro, it may seem overwhelming just trying to find where to begin!

Well luckily for you, we created this Bocas del Toro Real Estate Buying Guide exactly for this reason!

We are Drew and Tamara and we are the owners of Sol Bungalows Overwater Bungalows on Isla Solarte. We went through the process of buying real estate in Bocas del Toro as well as permitting and building our overwater bungalows. We’ve lived in Bocas del Toro since 2015, and while we already knew a lot about Bocas, we certainly learned A TON going through the buying and building process!

This guide includes everything we know, as well as insider tips and some common mistakes we, and other people make (so you don’t do the same!). 

What is Bocas del Toro?

Bocas del Toro is a province of Panama located in the northwest corner of the country on the border with Costa Rica. The Bocas del Toro province is geographically diverse and includes an island archipelago, vast areas of banana plantations, mountains, and an indigenous territory called a Comarca.

The Island Archipelago of the Bocas del Toro Province is what most people are thinking of when they are looking for real estate in Bocas del Toro. The main island, Isla Colon, is the most popular and populated, and is where you will first arrive by plane or boat!

How to get to Bocas del Toro?

One of the benefits of buying real estate in Bocas del Toro is its proximity to both North and South America. Panama City’s Tocumen International Airport is the primary air transit hub for both continents, and flights here only take a few hours from the southern USA! 

Once you’ve made it to “The Capital of Latin America,” as Panama City is commonly called, you only have to take the short, 1-hour flight to Bocas!

For more information on How to Get to Bocas del Toro, see our post here.

How to Buy Real Estate in Bocas del Toro

The first and most important step to buying real estate in Bocas del Toro is to talk with one of the trusted real estate agents in the islands. They will be able to assist you throughout the entire process; as well as recommend their trusted attorneys and contractors, and help with permits.

The Top 3 Bocas del Toro Real Estate Agents are:

• Mark Johnson – Paradise Found Realty – Mark was our Realtor and we had a great experience with him. He helped us find our dream property that wasn’t publicly listed yet, and then he helped us negotiate an amazing deal. We highly recommend you start with Mark, and let him know we sent you!
• Abram Akradi – United Country Bocas del Toro
• Sumayyah and JB – Buena Vista Realty

Here’s some advice: 

Panama, and specifically Bocas del Toro, are known as places where property scams can take place. The best way to avoid this pitfall is to work with an agent and make sure your attorneys do the due diligence on the property.

Discover our top 7 tips on what NOT to do when buying Real Estate in Bocas del Toro

You do not want to buy a “too good to be true” deal, and later find out that the seller of the property wasn’t actually the owner, or that the property is tied up in a huge legal battle! Do it the right way, with a good agent, and a trustworthy attorney!

TIP: Meet with several different real estate agents as each one has a different set of properties they are selling. We started with one agent – didn’t find what we were looking for – met with another – and found our dream property right away!

Types of Bocas del Toro Real Estate (Title vs ROP vs Concession)

There are 3 types of Real Estate in Bocas del Toro: Title, ROP (Right of Possession), and Concession

Titled Property

Titled property in Panama works the same as in the USA. Your property will be registered in the Panamanian Government’s Central Registry and you will have to pay property taxes. Titled property is a secure investment and holds more value than ROP property. 

Right of Possession Property

Right of Possession property is a type of property that was designed by Panama to give land rights to indigenous people. ROP is granted to a property if the owner can prove that he has maintained or improved the property for 7 years or more. To build on ROP land you need to apply for a concession from the government. 

ROP property is also a fine investment. However, more due diligence needs to be done to ensure the boundary lines of the property and that no one else has claims to the property. 

You can get a Title for a ROP property, however not all ROP properties are Title-able. Your real estate agent will be able to find this out for you. 

Concession Property

Concession Property in Bocas del Toro primarily refers to building over the water. To build over the water in Bocas you need to own the land behind the area you want to build. 

Then you need to apply for a Concession from the government to build in this area. The concession is a land-lease agreement that is normally granted for a 20 year period and can be renewed. 

You will also need other permits to actually build over the water; including an Environmental Impact Study. You should thoroughly inspect the over water area before you buy anything to know if you will even be able to build there. There are many reasons an overwater project can be rejected by the government, especially if the overwater area is filled with coral and other sea life.

For more detail on the types of Property in Panama please visit Panama-Offshore-Services

Choosing the Location of your Bocas del Toro Real Estate

Bocas del Toro Real Estate varies widely in cost and desirability depending on where the property is located. There are 9 main islands in the Bocas del Toro Archipelago and hundreds of smaller islets and mangrove islands. Such a wide variety of islands offers prospective buyers a slew of different lifestyles to choose from.

Check out our detailed Bocas del Toro Island and Area Guide here.

Here are the main things you have to consider when choosing a location:

1. Proximity to Bocas Town
2. On-Grid or Off-Grid
3. Accessibility
4. Local Community/ Neighbors
5. Nearby Activities

Proximity to Bocas Town

Bocas Town on Isla Colon is the capital of the Bocas del Toro islands and the biggest town in the Archipelago. This is where you will find the majority of the restaurants, hotels, grocery stores, airport, bank, hospital, ect. 

Why the Proximity to Bocas Town is important:

The location of your property in relation to Bocas Town is important because this is where you will do most of your essential activities like buying food and construction materials, going to the doctor or a restaurant, or getting money from the ATM. 

Isla Carenero, Old Bank, and the Red Frog Resort also have small stores carrying the essentials. However, the best quality food and the biggest variety of essentials are located in Bocas Town. 

So, if you buy property on Isla Colon that has road access, then you will be able to drive into Bocas Town to do your groceries, ect. However, if you buy property on any other island, or in an area on Isla Colon with no road access, then you will be doing your essential errands by boat! 

On-Grid or Off-Grid

On-Grid living is possible in some areas of Isla Colon, Isla Carenero, Old Bank, and the Red Frog Development area. On-grid means these areas will have connectivity to the public electric, water, and sewage systems. 

Off-Grid living (everywhere else) means you will need a Solar System to power your home, a rainwater catchment system for your water, and a septic tank for your sewage. A good Solar System will cost upwards of $10,000. And the combined water catchment system, water pump, water heater, and septic system will all run another $5,000 or more depending on the size and quality of your system. 

Tip: The plus side of living off-grid is that your system will almost certainly be more reliable than the water and electric services provided by Bocas Town, where power outages are non-potable city water are the norm. You will not have to pay utility bills. (Both our home and our bungalows are off grid, as Isla Solarte has no connection to any of the City utilities.)

Accessibility

How do you get to your property? Can you drive there? Is it only accessible by boat? Or is it a boat ride and then a walk/ hike?

You will have to decide if you want the comfort and convenience of the “car life,” or if you are up for the adventure of the “boat life!” While using a boat as your main form of transportation is very common in Bocas del Toro, this lifestyle is not for everyone! 

You also need to consider if you will be buying a boat, or if you will use the water taxi system. The farther away you are located from Bocas Town, the more expensive the water taxis will be! 

Tip: We are located just 5 minutes away by boat from Bocas Town. While I could be ok with being 10 minutes away, we definitely appreciate the proximity and ease. During the construction of our house and overwater bungalows, I was running to town every day, if not several times a day for materials and supplies! 

Local Community/ Neighbors

What are the locals like in your location? This is something that is very important to consider before buying a property in Bocas del Toro. Having good neighbors can make or break your experience here, so investigate this also before making your purchase.

Tip: If you don’t speak Spanish, we definitely recommend learning! Being able to talk to your neighbors is the first step in building a trusting relationship with them. You don’t want to be one of the ignorant Ex-Pats who expects everyone to speak their language and gets angry when they don’t understand anything! Check out Habla Ya Spanish Schools for spanish lessons in Bocas!

Nearby Activities

Are you a surfer? Then you will want to check out our Bocas del Toro Surf Guide ;). You will also want to buy a property that is located close to the surf breaks! 

Do you love the beach and want to spend your days lounging around in the sand? Then choose a location near a beach! 

These may seem like obvious things to do, but many people make the mistake of overlooking it. Many properties that are for sale are very far from beaches and surfing, so do your research about your location and what activities are nearby! (This guide covers more about what each island and area are like.)

Check out our Guide: The Top Areas We Love To Buy Real Estate in Bocas del Toro

Advice from our Experience

Don’t miss the 7 Things You Should Not Do When Buying Real Estate in Bocas del Toro, here.

Rent and live in Bocas for a few months to a year before buying!

This is probably the #1 best advice, as then you can really see if Bocas is the right fit for you. You will also get a feel for the layout of the islands and have a better understanding of where you want to buy your dream property!

Trust your real estate agent and the attorney they recommend!

Bocas del Toro is full of hustlers and middlemen that will try to do everything for you – at a price. Our best advice is to just listen to your real estate agent and use the people they recommend. They wouldn’t recommend them if they didn’t trust them, and they would also ruin their reputations in Bocas if they were recommending the wrong people. (Bocas is a very small town, and peoples’/ businesses’ reputations are very important!)

Do everything the legal way!

There is the temptation in Bocas to skip the red-tape and use corrupt attorneys to get your paperwork approved. Don’t do it! You will just get screwed in the end. This is a game that has been going on for a very long time in Bocas and they have gotten very good at it!

Speaking of Lawyers…

We had a great experience buying a small piece of ROP property with the help of Johnny Griffo from Griffo Law. He is Bocas Town based and his firm practices mostly Real Estate and Immigration Law. The firm also has lawyers in Panama City who can help to expedite legal processes in Panama. We have used several different lawyers throughout our history in Bocas of buying property, building, and becoming residents, and our experience with Johnny was the easiest of them all!

Another well-known law firm in Bocas del Toro is run by Daniel Anaya from Anaya and Associates. They also specialize in Real Estate and Immigration law and are also based in Bocas Town on Isla Colon.

That concludes our article on Bocas del Toro Real Estate. Have a question? Email us!

For more information and travel guides about Bocas del Toro: