The Exhumas, Bahamas is where the rich and famous are buying islands, according to an article in the July 28 edition of the Wall Street Journal.
Some of the issues that arise with developing these islands, such as importing electricity, cell phone towers, water purifiers, the building materials and even, in some cases, the palm trees, can make development extremely costly.
San Jose Island, in the Pearl Islands off the coast of Panama, does not have a lot of these issues. Granted, at 11,000 acres, approximately twice the size of Key West, it is a much larger island than the ones in Exuma. It has its own rivers and streams, providing fresh water, as well as a water treatment facility capable of producing 3,000 gallons of water an hour, and a 10,000 gallon storage tank. It has a 5000 linear foot landing strip, lots of trees, including palm trees, mooring facilities, and a boutique resort, Hacienda del Mar.
A short 20 minute flight to Panama City, Panama, means you are in close proximity to world class entertainment and medical facilities, including John Hopkins at Punta Pacifica Hospital.
Compared to the most expensive island for sale in the Bahamas, Cave Cay, at $440,000 per acre, San Jose Island , at $22,545 per acre, seems like a downright bargain. Oh, I almost forgot…Panama doesn’t have hurricanes!