1. Central America
2. Panama
3. David Chiriqui
4. Santana Island 54 acres

This very scenic 22 hectare (54 acres) island -- known as Isla Santana -- is next to much larger Boca Brava island. Isla Santana consists of wooded hills that rise gradually from the water's edge. There is over a kilometer of water-front, with many excellent ocean-view building sites. Adjacent to the island, separated only by a shallow estuary, is a mile-long deserted beach. In Panama, all beaches are owned by the state and are legally open to the public. In practice, though, the only access to this beach is via Isla Santana, which makes it, in effect, a private beach for this property. The island would be suitable for a resort, residential development or private estate. Ownership of the island is currently by Right of Possession. For the past several years, it has been impossible to to title island properties. However, a new law was passed last week by the Panamanian legislature allowing island and coastal property to be titled at a very low price of $50-$100 per hectare. Once an island property such as this is titled, it will be worth 2-3 times the current price. The passage of this new law has created a rare opportunity to buy island and coastal properties at discount prices with confidence that they will be titled and will increase in value substantially.

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