Playa Caracol: True Beachfront Living on Panama’s "Hidden" Riviera

Playa Caracol
Playa Caracol, on Panama’s Pacific Riviera, is poised to burst onto the mainstream.|©RETA

About 17 years ago, a trusted contact promised that if I could withstand a bumpy drive, I’d get to see one of the most beautiful beaches in all of Panama.

It was a big claim. My contact, though, was true to his word. At the end of a bone-shaking road, he showed me a stunning, near-white-sand beach that opened up to the Pacific Ocean, sparkling like a jewel. And beyond that, I could see Panama City shimmering in the distance.

I knew right away that this was something spectacular: the nicest, closest beach to Panama’s booming, cosmopolitan capital city.

Back then, this stretch of coast was completely unknown and undeveloped. But fast-forward to today, and it’s home to the premier beach community in all of Panama: Playa Caracol.

Set in an area known as the "Pacific Riviera" west of Panama City, Playa Caracol is the brainchild of one of Panama’s foremost developers, the same contact who first brought me to this hidden stretch of coast all those years ago. Alfredo Aleman and his GLP group are one of the few developers who could bring this project to fruition. They have a history of delivering unparalleled communities in Panama, including a set of man-made islands right off the heart of Panama City.

Alfredo spent years trying to bring Playa Caracol to life. Eventually, he managed to secure a mile of magnificent beachfront here, and over time, he added to this one mile of beach. He started by spending serious money on infrastructure, including getting paved roads put in. Next came incredible residential communities, resorts, and amenities.

Today, Playa Caracol has more than 400 residential units. There’s a thriving surf club… a beach club… and the Surfside Hotel, which includes a luxury spa, state-of-the-art gym, superb pool, and gourmet restaurants. What he’s achieved here is remarkable…

The rhythmic sound of the Pacific surf is the closest thing you have to a timekeeper in Playa Caracol. No one is in a rush… not here. The surfing is world class. You can take a boat out to fish or see whales giving birth.

The islands offshore have fascinating stories. You can explore them easily on day trips. One was owned by John Wayne and has an abandoned Western World theme park on it. Another is home to two painted fishing villages, where you can hike the island’s trails and watch for birds.

You’ve heard of Surf City, California. Playa Caracol is like that… but better. Everything about this community is high-end. It offers the comfort of a luxury resort with the community of a small beach town in Southern California.

The first phase of Playa Caracol has now been realized and Alfredo is well into the next, which includes plans for a beautiful boardwalk and an entire "village" center. Plans also call for a wedding pavilion, a sports academy, commercial center, supermarkets… everything you expect to find in the perfect beach town.

Major international corporations have taken notice and they’re acting. The Surfside hotel was recently rebranded as a Radisson. And the first Margaritaville in Panama is due to be delivered in Playa Caracol in 2027. This complex will include residences and a resort with signature Margaritaville experiences like the 5 o’Clock Somewhere Bar and License to Chill Bar & Grill.

It all points to the scale of the opportunity here. Playa Caracol, and indeed Panama itself, are about to burst into the tourism mainstream…

Soon to Be Discovered…

Sweeping ocean views and palm-fringed coastlines define Playa Caracol’s setting.
Sweeping ocean views and palm-fringed coastlines define Playa Caracol’s setting.|©RETA

Panama has long been a vital artery of global trade. It’s home to the Panama Canal, one of the most important pieces of infrastructure on the planet. Connecting the Atlantic and Pacific oceans, it’s the trade route taken by around 40% of all US container traffic.

The canal helped transform global trade, connecting east and west. And it transformed Panama. By leveraging its strategic importance, Panama has developed into a major commercial hub. It’s home to more than 80 banks as well as the regional headquarters of big multinationals like Dell, Nestle, and Procter & Gamble.

Today, Panama City is one of the richest cities on the continent. Walk its streets and you’ll see all the hallmarks of a true global city—trendy cafés… craft beer bars… fine-dining restaurants… designer clothing boutiques… expansive shopping malls…

And its main airport is the "Hub of the Americas." Panama’s Tocumen International Airport now maintains direct connections to 93 destinations across 37 countries. In 2024, the airport achieved a record milestone by handling a total of 19.2 million passengers, marking a big 8% increase over the previous year.

Panama, then, is a booming, modern, affluent place. But one of the few areas where it has traditionally lagged behind neighbors like Costa Rica is tourism.

There’s no reason why Panama isn’t a tourism powerhouse. It has the accessibility… the infrastructure… the cosmopolitan capital… the history and culture… and the stunning coastline with crystal-clear waters and white-sand beaches. In fact, in Panama it’s possible to wake up on the Caribbean and then have lunch overlooking the Pacific. They’re only a couple of hours apart at the country’s "skinniest" sections.

Indeed, the only reason Panama hasn’t become a tourism giant is because for many decades the country focused investment in other areas, like expanding the canal or attracting big multinationals with tax incentives. Now, though, tourism is a big new focus. Panama has rolled out a host of tourism-related initiatives and investments. One example: last year, the country launched a new $200 million cruise ship port near the Panama Canal entrance.

Already these efforts are bearing fruit. According to the latest figures available, during the first half of 2024, Panama welcomed approximately 1.44 million international visitors, marking a very significant 8.7% increase over the same period in 2023.

Long a sleeping tourism giant, Panama is now awakening. And the area best-placed benefit is the Pacific Riviera and Playa Caracol.

Government-Backed "Path of Progress"

Playa Caracol’s beach club and surf scene attract locals and expats alike.
Playa Caracol’s beach club and surf scene attract locals and expats alike.|©RETA

The Pacific Riviera runs west of Panama City from Chame to Farallon—about 50 miles or so. As I say, this coast has glorious near-white-sand beaches and warm waters for swimming. There’s excellent fishing, surfing, diving, and whale-watching. And backing it all are lush, soaring hills with incredible hiking.

Development began here as far back as the 1940s with the establishment of Coronado, the best-known community on this coast. From then on, other development popped up… though in the past two decades or so, this has been gathering speed. This development has been accelerated by an enormous government-backed "path of progress" that’s leading west from Panama City.

A path of progress is anything that improves the accessibility of a piece of real estate or makes it more desirable, say infrastructure like roads, bridges, or airports, or a 5-star resort in a place that previously only had hostels and budget hotels.

Head west from Panama City today and you’ll see a new eight-lane highway that heads in the direction of Playa Caracol and the Pacific Riviera. A fourth bridge is set to be built across the Panama Canal, improving access from the city to this coast. The city’s metro system is set to run in a tunnel under the canal out to the western suburbs, close to this area. And there’s a proposed new trainline…

The Panamanian government is planning a high-speed rail project connecting Panama City to David, the capital of Chiriquí province. Plans for the new $4 billion railway call for a 243-mile route which would reduce travel time between Panama City and David from six hours by car to two hours by train. The line is set to pass along the Pacific Riviera, with a stop in Chame, near Playa Caracol. (With the new railway in operation, it would be possible to get from Panama City to Playa Caracol in under an hour.)

With the government’s focus on promoting tourism, and the incredible new infrastructure projects pushing out from Panama City to the Pacific Riviera, major brands like Margaritaville are moving in. I knew it was a matter of time before global resort brands arrived in Playa Caracol. I’ve long told RETA members what it’s going to mean…

Playa Caracol is now going to be anchored by market makers. It’s going international. From a virgin hard-to-reach beach it’s emerged as the premier beach community and destination within Panama. After all, you’re less than 50 miles from Panama City, one of the world’s booming global cities, a trading hub drawing in people from all over the world. With new hotels, resorts and a planned town center, Playa Caracol is about to hit a new level.

Members of my Real Estate Trend Alert (RETA) group have already been ahead of the transformation of this coast with a string of incredible, off-market deals at Playa Caracol…

  • In January 2019, members had the chance to own in the Residences at Playa Caracol from a RETA-only $184,300, with premium condos going from between $234,600 to $252,500. In October 2022, a condo available to RETA members for $234,600 was listed at $320,000— $85,400 more. And one bought by a RETA member for $184,300 was listed at $290,000—a boost of $105,700.

  • RETA members bought in Surfside residences in Playa Caracol back in March 2020 at prices starting at $214,600. Similar condos are now on sale by the developer at $330,000. That’s an uplift of $115,400.

  • In January 2023 RETA members were able to buy ocean-view condos in the Las Olas starting community in Playa Caracol from $254,600. Recently, similar condos were listed with the developer for $355,580. That’s $100,980 more.

With Playa Caracol now gaining an international reputation, the opportunities here are incredible. That means if you’re interested in owning a true beachfront home in front of a pristine white-sand beach (a rare opportunity anywhere these days), you can buy ahead of those international folks and the wealthy in Panama City for whom this beach is the closest and nicest.

Right now, I’m working to bring a new deal in Playa Caracol to members of my RETA group. I’ll be sharing more with RETA members soon…

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