Monday, February 08, 2010

Dear Reader,

Panama has it all…tropical islands with white-sand beaches…lush jungles…cool coffee-growing mountain country…a capital city with a unique Latin flair, gleaming Miami-style skyline, theatres, shopping malls, and world cuisine at a fraction of what you would pay back home.

Making an itinerary for a trip here isn’t easy. Panama spoils us with choice. This is a place however that always makes my cut. This place is the perfect hideaway. Yet, believe it or not, Panama’s best-kept secret is just 17 minutes from the hustle, bustle and commerce of downtown Panama City.

The island of Contadora is one of about 220 Pearl Islands, located about 40 miles from Panama City. Regular daily flights from Albrook Airport in Panama City get you to the deck I took this photo from in less than 20 minutes.

Contadora has had a colorful history. Pearls brought the Spanish conquistadors in the early 16th century.

Around 1513, Vasco Nunez de Balboa wrote to the King of Spain: “There are many islands in this sea. They tell me that there are pearls in abundance, of great size, and that the natives possess baskets filled with them.”

The Spaniards brought in slaves for pearl harvesting. The pearls were counted on Contadora, and then shipped to Spain (Contadora means “counting house”).

For the next few hundred years the Bay of Panama, where the Pearl Islands sit, was the setting for pirate adventures unsurpassed anywhere in the New World. The islands were the perfect hideout for pirates who wanted to attack passing ships and the Spanish territories of Panama, Mexico, and other points in Central and South America.

One of the most famous sackings was Henry Morgan’s 1671 plundering and burning of Panama City.

Today, there’s little evidence that the pirates and the Spanish conquistadors were ever here.

Today, many upscale private homes dot the island.

Contadora is a weekend retreat for Panama’s wealthy, who have homes on the island that they access via private planes and boats. There is always at least one private plane on the airstrip, and a yacht or catamaran bobbing on the ocean. Christmas and New Year are the liveliest times, with the best New Year’s Eve party in the whole of Panama. Mostly, Contadora is quiet. This is a hideaway. The wealthy property owners here want to keep it this way.

When I visit, I stay at the Villas at Contadora. Set just above Playa Galeon, the beach is just steps away, as is the neighboring hotel. The island’s shops are a 5-minute stroll away.

The five coral fields around the island offer incredible snorkeling (or an enjoyable glass-bottomed boat ride) where fascinating marine life includes white-tipped reef sharks and schools of tropical fish.

Mostly I just relax at the beach and wander over to the hotel for a cocktail at sunset. This is my perfect hideaway. Hard to believe that all of this is just 17 minutes from Panama…
One of these little villas is listed for sale at $199,000. This villa rents for $140-180 per night. There is a strong and steady stream of renters. Buy this little home and your hideaway could become a nice little earner when you aren’t enjoying it.

Ronan McMahon

Editor’s Note: You can find out more about Contadora, and Panama’s property market, at International Living’s Live and Invest in Panama conference in April. Click here to find out more.

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