Bocas del Toro has long been the Caribbean’s Badlands, a string of islands for rugged castaways and those escaping something—or someone. This string of islands off the coast of Panama has long been touted, along with Honduras’ Bay Islands, as one of the last real values in the Caribbean.

For a while, the trajectory seemed to have nowhere to go but up and those who got in early profited handsomely for being ahead of the pack. Eventually the pack catches up, however, and the infrastructure hits its limits. Also, outside factors can have a big impact, like a complete housing crash in the U.S., for example.

One of our regular writers covering Central America, Beverly Gallagher, wrote a story several years ago on the real estate scene in Bocas del Toro and expressed a few caveats about the big boom predictions. She recently returned to scope it out again and we’ve posted the story. Check out Luxury Real Estate in a Holding Pattern on Panama’s Caribbean Islands.

As with much of Latin America, prices aren’t likely to go down much from here, if at all. Instead homes just stay on the market longer and new developers have to dangle more incentives to get people to put down a deposit. With good reason, buyers are skittish. Is it a buyer’s market? Clearly yes, but your time horizon is the key. Read the Bocas del Toro real estate article.

For just paying the region a visit, check out our Luxury Travel in Panama section.