Top Reasons to Retire In Boquete Panama

(The Article has been Updated October 6, 2021)

Boquete (pronounced bow-keh-tay) is a lovely mountain town located in western Panama in the Province of Chiriquí, along the Caldera River and next to Volcán Barú, an active (but sleeping) volcano that is in Panama’s highest point at 3,475 meters (11,400 ft). It is considered one of Panama’s top expat havens.

The town itself sits at an elevation of 1,200 meters (3,900 ft) above sea level, making it, in the opinion of many residents, the most comfortable climate in Panama. With daytime highs reaching 25° C (77° F) and evening lows at about 15° C (60° F), virtually every day of the year.

Boquete’s history dates back more than 2,000 years, as evidenced by rock carvings discovered in the Caldera region and ancient settlements in the area. During Spanish colonization, the area was a refuge for local tribes such as the Ngöbe and Miskito due to its topography. The settlement of Boquete by Panamanians and foreigners began in the mid-19th century, with locals from David, Gualaca, and Bugaba, and Europeans from France, Germany, Yugoslavia, and other countries. In Spanish, the word “boquete” means opening or gap, and through this gap, many curious gold seekers traveled, looking for a quicker way to the Pacific. By the early 1900s, villages in the area had sprung up, including Lina, Quiel Bajo Mono, Los Naranjos, and Bajo Boquete, which is now the district’s center.

Even though there has been a recent boom in tourism, the area’s primary industry remains agriculture, mainly coffee cultivation. Boquete is very well known for its coffee, which has been judged among the finest in the world.

With a district population of just over 25,000, Boquete is a popular destination for retirees seeking a simpler lifestyle. So, why retire in Boquete, Panama?

Boquete is strategically located in the mountains, and it enjoys a cool climate, which makes it a popular destination for Panamanians and expats alike. Daytime temperatures range from the 70s to the 80s F, while nights are generally cooler, mainly due to the elevation. Boquete has spring-like weather, making the town ideal for both snowbirds and full-time residents. The near-perfect climate, healthy lifestyle options, and gorgeous natural surroundings make Boquete an ideal expat destination.

There are two seasons: the dry season, from mid-December to April, and the rainy season, from April to November. The temperatures remain very constant throughout the seasons. In the dry season, you will see more wind, with light winds in Bajo Boquete and stronger winds in Alto Boquete and other areas. In this dry season, mainly in Bajo Boquete and neighboring communities in the valley, you will experience a lot of Bajareque, a mist that comes down from the mountains, not usually enough to get you wet.

Boquete has a very vibrant music and arts scene. Live music from locals and expats can be found at several venues across town several times a week.

Near the end of January every year, Boquete hosts its annual fair, the Boquete Flower Festival, featuring 10 days of music, food, and Panamanian culture. More than 200 stalls displaying local artisans, midway rides for the kids, and of course, acres of flowers. This floral extravaganza has been held in Boquete annually since 1984, and last year, it had just over 200,000 visitors come through the gates during the ten days.

This Tuesday Market attracts hundreds of expats every week, and the vendors are expats or locals selling their goods and services. You can pick up your organic vegetables, grass-fed beef, pork, free-range chickens and eggs, and more. Locals also sell their handicrafts. The weekly Tuesday market has become a social event for many expats who have retired in Boquete.

 

Boquete boasts some of the best hiking and trails in the country and Central America. You can walk up to the top of Volcán Barú, a popular level 4 hike, which takes about 6-7 hours. From the top of Volcán Barú, it is one of three places on earth from land where you can simultaneously see both Oceans. The popular hike starts just before midnight, and by 6 am, you are at the top and can watch the incredible sunrise. Recommend you go from December through April to have a better chance of clear skies. Even companies with big 4x4s will take you to the top if you are not up for an extreme hike.

The Quetzal Trail is considered the most beautiful trail in Central America and is one of the most popular in Boquete. It is named after the Quetzal bird, which can often be seen on this trail. In Spanish, the trail, called Sendero de los Quetzales, is 9.6 km (6 miles) and connects the towns of Guadalupe, near Cero Punto on the west side of the Volcano, with Boquete on the east. The trail runs along the Volcano’s north face and can be hiked in either direction in about 5–7 hours. Most tour guides offer this trail, and it is only walked one way, with the guide coordinating transportation at the other end to get you back to where you started.

The most popular direction for the Quetzal Trail is from Boquete to Cero Punto, as the uphill is easier on the knees than the several hours of downhill the other way. Also, earlier in the mornings at lower levels, you stand a better chance of seeing more Quetzals. Also, in the rainy season, rain typically falls in the afternoon in Boquete, but in the morning in Cero Punto, so the chances of staying dry are better in this direction. But remember, you are hiking in a rainforest, so there is no guarantee you will stay completely dry on this day-long adventure.

Friendly Retiree Program

Panama’s Pensionado Visa program, which is unique globally, is perhaps one of the most significant benefits of living in Boquete, Panama. The program allows foreign retirees who receive a lifetime monthly pension of at least $ 1,000 USD to retire and obtain permanent residency in Panama. They also access a host of other discounts on their daily living expenses, which significantly lowers the cost of living. The discounts include healthcare bills, airline tickets, restaurants, bus, boat, and train fares, and entertainment. Full details of this program can be found here.

Less Stressful Lifestyle in Boquete

The little town of Boquete is home to music, art, and culture. Retirees who want to get creative can join a photography club, enroll in a drawing or painting class, or tour the local Boquete Public Library to check out some of the best art exhibits. Expats can also relax while playing some golf at the Lucero Country Club or the luxurious Valle Escondido. There is also a variety of full-service spas for those who wish to get some personal pampering. Here you can get beauty treatments, fitness programs, and therapeutic massages. Yoga, Tai Chi, Zumba, and other fitness classes are taught throughout the week, for a few dollars to attend.

With all the trails available and many local activities, residents can get out almost daily to take a walk or attend an event in their neighborhood. Lunch and happy hours are popular in Boquete, and in its many expat-friendly restaurants, you will see groups getting together daily for lunches, coffee, or a happy hour with their other expat friends. There are many charitable organizations you can join and help out with that often host fundraising events, making the social life here very busy. We also have the knitters club, the bridge club, the photography club, among others, that meet weekly or monthly.

Many retirees in Boquete will tell you that their health has significantly improved simply because this small town lends itself to healthy daily living. There is something about the eternal spring-like climate here that also seems to help.

Lower Cost of Living

Although Boquete is a large expat community, the cost of living is higher than in smaller towns in Panama. It can still be much less than the cost of living in your home country. An individual can live in Boquete for as little as $1,500 a month, including rent, but if you want a more North American-style home, you are looking at closer to $2,000 a month. You can also spend a lot more than this, depending on your lifestyle.

Now, let’s look at this chart I put together to explain the cost of living in Boquete, ranging in lifestyles from basic to moderate to luxury.

I will explain each expense below.

Rent – Basic: a fully furnished, 2-bedroom home in a Panamanian neighborhood. The Moderate is a more North American-style home with stainless steel appliances and granite countertops, and the Luxury is a 2,500+ sq ft Villa in a gated luxury community.
Utilities (Electric/Gas) – Utilities are cheap in Boquete, as there is no need for heating or air conditioning due to its temperate climate.

Internet/TV – Basic will have 100 meg internet and a Netflix subscription, Moderate a 250 mb connection, and some cable channels, Luxury 500 mb internet, and full cable with HBO.
Cell Phone – Basic has prepaid minutes, does the odd call, and uses WhatsApp. Moderate and Luxury have unlimited data and minutes on a postpaid plan for each person.

Transportation – Basic – Use of Taxis and Buses, Taxis in town usually cost under $1, bus to David, $1.75. Moderate will have an older used car, with expenses for gas, maintenance, and insurance. Luxury, a newer car, with expenses for gas, maintenance, and insurance.

Grocery – From the Basic chuck steak to the luxury filet mignon, you can buy groceries on any budget here. If you show in public markets but buy directly from ranchers and fishermen, you will save a lot.

Restaurant – Basic eating out twice a week, at Panamanian restaurants, to the Luxury dining out weekly at fine restaurants, and lunches twice a week.

Entertainment – The Basic is a movie night twice a month, and attending local events, while the Luxury attends upscale charity events, shows, and cultural events twice a month.

Health Insurance – Price based on age 55 – 65, Local Hospital Plan,  Full International plan will be about double.

If you are considering moving to Panama, Boquete is one of those places where you can live well on less.

Affordable Real Estate in Boquete

If you plan to retire in Boquete, Panama, real estate can be quite affordable in this town, although prices continue to rise with the town’s growing popularity. There are so many real estate options, as the town offers both traditional Panamanian and North American-style housing. Expats also get plenty of choices in locations within and around Boquete. With the help of a reputable real estate agent, it is easy to find good real estate values in Boquete. As of this writing, it is a buyer’s market, with options ranging from $120,000 to over $1 million, depending on your lifestyle and desires.

We at Retire in Panama Tours do not recommend buying in Panama until you have lived here and rented for a while, but it is good to know what options you will have when it is your time to buy.

Here are some options available right now in Boquete across a range of prices.

This 1200 sq foot, 3 bedroom 2 bath bungalow sitting on about 1/8 acre lot is for sale at $115,000

A 3,000 sq foot, 4 bedroom, 3 bath on a large lot, for $239,000

This luxury, 3-bedroom, 3.5-bath, over 4,000 sq ft, in the most exclusive gated community in Panama, Valle Escondido, sold for $499,000

And here is that million-dollar estate I promised, almost 8,000 sq feet on one acre, 5 bedrooms, 4 bathrooms, set up in the mountains, just above Boquete, for $995,000.

As you can see, there are properties available for everyone in Boquete, but on our Retire in Panama Tours, we will not be selling you real estate. We will encourage you to rent here for a year if you move here, to make sure you are happy with the area you picked. With so many microclimates in the Boquete area, it may take you a while to decide where you want to spend the rest of your years, so we do not want to encourage you to buy too soon. On our tour, we will be introducing you to a real estate agent, one we know is good, and when the time comes, will do an excellent job for you. They will talk to you about Panama’s real estate laws, rental leases, and rental availability.

So you may think that Boquete is for you, and you may be correct, but if you join us on our Retire in Panama Tour, we will show you many expat communities across the country with different climates, cultures, and prices. Then you can make an informed decision on whether retiring in Panama is good for you.

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