Panama City is the main location of the province of Panama, and it is also the capital of the country. Most of the population of the country resides in this province, as well as the most diverse range of activities and places of interest.
Panama City is situated on the Pacific Coast and is the principle commercial center with the most modern and successful International Banking Center in Latin America, offering investors over 100 Banks from more than 32 countries around the world. The city also has a sophisticated technical infrastructure and fiber optics, high-end and duty-free shopping (in nearby Colon City), casinos, nightlife, and numerous sporting activities such as golfing, world-class deep-sea and lake fishing, and bird watching, in and around the city.
Panama City has become a cosmopolitan modern metropolis, with many high rise buildings overlooking the ocean and the Bay of Panama in exclusive residential areas, such as: Balboa Avenue, Costa Del Este, Marbella, Punta Paitilla, Coco Del Mar, Punta Pacifida, and San Francisco. All of these areas offer a good range of apartments and condominiums for sale.
Panama City has a rich history that extends back to the 16th century. The original Panama City (known today as Old Panama) was sacked by the infamous pirate, Henry Morgan. The second Panama City of the Spanish colonial days is visible as the section of the city known as Casco Viejo.
Punta Pacifica is one of Panama City´s most exclusive residential areas. Recently constructed in Punta Pacifica is a state of the art hospital with an affiliation to Johns Hopkins Memorial Hospital, and a full-scale shopping mall.
Currently within Punta Pacifica are excellent private schools, many shops, walking trails supermarkets, hardware stores and just about every amenity that one could hope for.
The area of San Francisco has been one of Panama´s most exclusive sectors for many years. Many of Panama´s most influential business owners and political leaders have their primary homes and offices in San Francisco.
San Francisco has a great combination of recreational parks and green areas, shopping, grocery stores, banks, post offices and schools.
In addition to its many ammenties, San Fransico is located just a few minutes from Panama Cities banking district
Paitilla is one of Panama City´s most exclusive and centrally located residential areas.
Within Paitilla one can find various hospitals, clinics, shopping areas, supermarkets, specialty food stores including a full scale kosher food supermarket, restaurants, home improvment stores hotels, and synagogs.
Marbella is an up scale area of Panama City known for it´s many conveniences including its excellent restaurants, proximity to the banking district, supermarkets, hospitals, movie theaters, shopping malls, post offices and recreational parks. All of which are within walking distance of the apartments.
Balboa Avenue is one of Panama´s most scenic and elegant areas of the Capital City. It gorgeous views of the Bay of Panama, Casco Viejo (historic district of Panama) and Panama City skyline are unparalleled.
Not only is the area of Avenida Balboa distinctive, but it is also very convenient as there are malls, hotels, parks, monuments, banks, restaurants and a huge variety of other amenities within walking distance
Amador is one of Panama’s most scenic areas. It boasts awe inspiring views of the Panama Canal, The bridge of the Americas, The Bay of Panama, The impressive Panama City skyline, and the historic district of Casco Viejo.
It is also the home of the Amador Causeway, which connects 3 islands, Perico, Naos and Flamengo, with rock excavated from the Panama Canal. Smithsonian Institute has a research facility on Naos, and there is currently a strip of upscale shopping, restaurants and marinas on Flamengo Island.
Amador is also home to the future site of the Frank Gehry designed, Museum of Bio Diversity, as well as the Naos Island Harbor Project.
The exclusive Figali Convention Center is also located on Amador. This convention center is where the Miss Universe Pageant was hosted, and is where such musicians as Carlos Santana, Alanis Morrisette, and The Red Hot Chilly Peppers among others have held their concerts.
For the above reasons and more, Amador is one of Panama’s most key tourism centers.
Casco Viejo is the oldest city on the Pacific Coast of the Americas, and lies at the foot of the Panama Canal on one side and Panama City on the other.
Nowadays, Casco Viejo is acknowledged as the city's most recognizable suburb, located in the district of San Felipe. While this historic community has lost it's economic importance with the expansion of Panama City, Casco Viejo continues to appear in songs, poems, videos, television commercials, and other elements of the city's daily life. Moreover, the area now serves as one of the country's most popular tourist attractions, frequented by tourist guides and photographers alike.
The architecture is a combination of ruins from the days of Spanish Explorers and Pirates, and French Colonial from the first attempt made on the Panama Canal by the French.
To walk through Casco Viejo is definitely to walk through history. Buildings sitting side by side can be over three hundred years apart in age. Balconies are filled with flowers such as geraniums and bougainvillea wrapped around sculpted wrought iron crafted in another century, The streets are brick, and no matter which way they run, they run to the sea, because Casco Viejo is surrounded by sea.
Historical parks litter the whole of Casco Viejo with such figures as heroic Generals on horseback, as the one dedicated to Liberador Simon Bólivar, which has his statue situated in the center of the park. Royal palms stand over the plazas like tall sentinels. The Church of San Francisco (La Iglesia de San Francisco), National Theater (El Teatro Nacional), Hotel Colonial, and Bólivar College (Colegio Bolivar) all illustrate details that call the attention of those visiting the historic area.
The Metropolitan Cathedral (Catedral Metropolitan) is without a doubt the most meaningful structure, and best reflects the Spanish presence due to the buildings dimensions and age; the construction of this building lasted more than 108 years. In front of the cathedral is a large park (plaza), in which the community reunited on November 3, 1903 in order to declare it's separation from Columbia. It was at that moment that the Republic of Panama was born, with much euphoria. Surrounding the plaza is the Municipal Palace (Palacio Municipal) with it's neoclassical characteristics, which was occupied by the French when they began construction of the Panama Canal; the canal was later completed by the United States. The building is being completely remodeled to house a museum that will more adequately depict the construction, function, importance, and future of the canal.
Casco Viejo, perhaps a commercial point in the past, is now a major tourist destination for those visiting Panama. Terrific photographic opportunities exist, particularly for those interested in architectural structures. Located just minutes from downtown Panama City, this historic community is just minutes in a taxi.
Coco del Mar is a very exclusive, suburbian residential area nestled off of the Pacific coast just outside Panama City between the more commonly known points of Punta Pacifica and Costa del Este.
It is located very near to Old Panama, which once served as the forts of the Spanish Explorers in the 1600´s, but after being ransacked by Sir Henry Morgan and his men, all that remains are stone ruins.
Although Coco del Mar is only a few minutes from downtown Panama, one can still see nature all around. Many cranes, herons, pelicans and frigate birds nest in the area and are commonly seen fishing the waters just off the rocky beaches.
The area of Coco del Mar is remarkable quiet and pristine considering its proximity to Panama City, and is comprised of a nice mixture of high density apartment buildings and large single family home properties.
Pros to investing in Coco del Mar:
All of the conveniences of the city are available within a very close proximity.
Beautiful, unobstructable, ocean views can be afforded from the vast majority of properties in the area.
The neighbourhoods are very well manicured, and are comprised of a nice mix of high density apartment buildings and beautiful single family homes.
For being so close to downtown Panama City, it is a very quiet area with lots of mature trees, parks and green areas.
Coco del Mar is literally a hop skip and a jump from the Southern Corredor which is less than 15 minutes by car from Tocumen International Airport.
Cons to Investing in Coco del Mar:
Traffic in and out of Coco del Mar can be a bit tedious during rush hours.
Gamboa (•Location map) is one of the more secluded and private areas of the reverted areas and former canal zone. It is located about 10-15 minutes past Clatyon on the Gatun Lake, which was at one point the largest man-made lake in the world, and vital to the existence of the Panama Canal.
Gamboa pertains to the province of Colon, though it is only about 20-30 minutes drive time from Panama City. It is known for its lush jungles and teeming wildlife and is also home to the beautiful Gamboa Rainforest Resort. There are also several world class bird watching sites in Gamboa including the Pipeline Trail.
Also just a few minutes from Gamboa one can find the Summit Botanical Gardens and Zoo where it is possible to see a pair of harpy eagles, the largest predatory bird on earth as well as wild cats, a large variety of monkeys, and even the very rare Giant Tapirs.
From many points in Gamboa including the private and public boat ramps, it is possible to access the Gatun Lake which makes up the central stretch of the Panama Canal, and is an ideal place for bass fishing.
Costa del Este is a newer area of Panama, located just east of Panama City's heart. Costa del Este is home to several new, planned residential communities, commercial shopping and office areas and industrial park.
It is a popular and convenient area due to its proximity to Panama City, just 5 minutes, direct access to major highways and corridors, and proximity to Panama’s major international Airport, which is just 10 minutes from Costa del Este by way of the Southern Corridor.
Just about every amenity that one could need can be found within the area of Costa del Este. These amenities include, commercial shopping plazas, schools, parks, direct access to major highways and an industrial park.
PACIFIC COAST BEACH AREAS
Real Estate in and around the Coronado Resort is attractive for several reasons, including its natural beauty, warm climate, low cost of living and many amenities including one of the finest professional golf courses in Latin America. The course has 18 holes, is a par 72 consisting of 7,092 yards, and it was designed by Tom Fazio, who was recently ranked as the #1 golf course designers in the world.
In addition to their championship golf course, Coronado also has professional tennis courts, a full spa with trained staff, outdoor jacuzzis surrounded by beautiful gardens, an olympic sized swimming pool, 4 restaurants, 4 bars, conference rooms and exclusive play areas for kids.
Apart from the main resort is a beach club where one can enjoy the beach, sun while sipping on exotic tropical drinks.
Last but not least is the newly built Equestrian Club that has world class equine facilities including air conditioned stalls.
The beachfront real estate in Coronado and the surrounding beach towns is a mix of white and volcanic sand, and the various stretches of beaches go on for miles. During the week you can usually have huge stretches of beach all to yourself.
Coronado is located about 1 hour from Panama City. One of the primary advantages of beach front real estate and resort real estate in Coronado or its neighboring towns is that there is a significant amount of infrastructure already in place. Coronado was Panama´s first weekend/resort development, and for this reason has several years advantage to the other surrounding beach towns. Currently one can find such amenities as full scale supermarkets, pharmacies, restaurants of every type and price range, medical and veterinary clinics, gardening centers, hardware stores, banks, and outdoor markets, etc.
Coronado is located by the area of Farallon, which in recent years has been an area of intense interest for Panama Real Estate. Such Resorts and residential communities as the Decameron Resort, Barcelo Resort, Vista Mar, Buena Ventura and Las Lagartijas have been springing up along Panama’s Pacific Coast in the last 3-5 years.
Coronado is located about 50 minutes from mountain town of El Valle, another popular area for real estate and vacation among locals and expats alike.
Pros for Investing in Coronado:
It has sufficient infrastructure to live full time.
Coronado is located just one hour west of Panama City and has beautiful beaches that go on uninterupted for miles.
While Coronado and the surrounding areas are growing by leaps and bounds, there are still many opportunities in the area for new businesses and services.
there is still lots of room for appreciation in Coronado and the nearby surrounding areas.
It is possible to have a home with lots of acerage in the areas surrounding Coronado.
The people are very friendly and the area has a nice small town atmosphere.
ADSL is now available in Coronado.
Coronado is an ideal setting when you have guests in town... the resort, equestrian club, golf courses and beaches make for easy entertainment.
Cons to Investing in Coronado:
While Coronado is home to a rapidly growing number of permanent residents, it is still very much a weekend down. On long weekends the town of Coronado can get very busy, and congested...
It is necessary for periodic trips to Panama City for social events, specialized medical check ups, and some shopping for every day needs. Generally full time residents of Coronado make the one hour treck to Panama City once every week or 2.
Gorgona (•Location map) is located approximately 10 minutes from the more well known area of Coronado which features a resort that has a Fazio designed, championship golf course,professional tennis courts, a beach club, equestrian club, a full spa with trained staff, outdoor jacuzzis surrounded by beautiful gardens, an olympic sized swimming pool, 4 restaurants, 4 bars, conference rooms and exclusive play areas for kids.
For the above reasons, and more, Gorgona and its neighboring beach areas have been a hot spot for both foreigners and locals alike when it comes to beach front and resort real estate for weekend and retirment homes.
The beachfront in Gorgona and the surrounding beach towns is a mix of white and volcanic sand, and the various stretches of beaches go on for miles. During the week you can usually have huge stretches of beach all to yourself.
Gorgona is located about 1 hour from Panama City. One of the primary advantages of real estate in Gorgona or its neighboring towns is that there is a significant amount of infrastructure already in place. Such ammenties include full scale supermarkets, farmacies, restarants of every type and price range, medical and veterany clinics, gardening centers, hardware stores, and outdoor markets ect.
Gorgona is located by the area of Farallon, which in recent years has been a real hot spot for Panama Real Estate. Such Resorts and residential communites as the Decameron Resort, Barcelo Resort, Vista Mar, Buena Ventura and Las Lagartijas have been springing up along Panama´s Pacific Coast in the last 3-5 years.
Gorgona is located about 45-50 minutes from mountain town of El Valle, another popular vacation area among locals and expats alike.
Real Estate Values in Panama and primarily in these Pacific Coast Beach areas has been appreciating very steadily, and as interest and growth increases so to do the real estate values.
San Carlos is located approximately 15 minutes from the more well known area of Coronado which features a resort that has a Fazio designed, championship golf course, professional tennis courts, a beach club, equestrian club, a full spa with trained staff, outdoor jacuzzis surrounded by beautiful gardens, an olympic sized swimming pool, 4 restaurants, 4 bars, conference rooms and exclusive play areas for kids.
For the above reasons, and more, San Carlos and its neighboring beach areas have been a hot spot for both foreigners and locals alike when it comes to beach front and resort real estate for weekend and retirement homes.
The beachfront in San Carlos and the surrounding beach towns is a mix of white and volcanic sand, and the various stretches of beaches go on for miles. During the week you can usually have huge stretches of beach all to yourself.
San Carlos (•Location map) is located about 1 hour from Panama City. One of the primary advantages of real estate in San Carlos or its neighboring towns is that there is a significant amount of infrastructure already in place. Such ammenties include full scale supermarkets, farmacies, restarants of every type and price range, medical and veterany clinics, gardening centers, hardware stores, and outdoor markets ect.
San Carlos is located by the area of Farallon, which in recent years has been a real hot spot for Panama Real Estate. Such Resorts and residential communites as the Decameron Resort, Barcelo Resort, Vista Mar, Buena Ventura and Las Lagartijas have been springing up along Panama´s Pacific Coast in the last 3-5 years.
San Carlos is located about 30 minutes from mountain town of El Valle, another popular vacation area among locals and expats alike.
Real Estate Values in Panama and primarily in these Pacific Coast Beach areas has been appreciating very steadily, and as interest and growth increases so to do the real estate values.
El Valle is located within 2 hours of Panama City. It is known for its beautiful mountain surroundings, friendly, small town atmosphere, cool temperatures, immaculate gardens, thermal hot springs, square trees and waterfalls.
El Valle has been a favorite vacation spot among locals for years and in more recent years, a touristic destination as well.
It has a virtually perfect climate, and everything in the town from the plants, to the animals and people seem to exude health and well being.
Less than 1 hour from El Valle are some of Panama’s most beautiful Pacific coast beaches. Along with dozens of beaches are restaurants, resorts, casinos, resorts, markets, shopping areas and golf courses.
ATLANTIC COAST BEACH AREAS
Colon is the 2nd largest city of the Republic of Panama and situated at the Caribbean entrance to the Panama Canal. Colon is located about 50 miles from Panama City and the commute by car takes about 1 hour.
Colon is home to Colon Free Trade Zone which is the 2nd largest free trade zone in the world. The Colon Free Trade Zone offers firms exemption from tax on all import and export movements. This generous tax regime has attracted around 1,750 merchants generating exports and re-exports estimated to be worth $11 billion per year.
Colon is also home to Panama's Major Cruise Passenger Ports. This year nearly 300,000 tourists have arrived to Colon 2000 and Terminal 6, the two new cruise passenger terminals on Panama’s Atlantic Coast.
The Caribbean beaches of Colon are gorgeous and rich with biodiversity and history dating back to early Spanish Colonial days. They have stunning coral reefs, which are excellent for snorkeling and diving
Caribbean beach front real estate in Panama's northern Caribbean islands of Bocas del Toro has the potential to produce exceptional long-term profits without the volatility of investment such as stocks, bonds, mutual funds or even traditional domestic real estate investments.
The Republic of Panama has become a niche Caribbean Real Estate market created partly by a combination of;
Political re-stabilization over the last 13 years,
The creation of the Panamanian Institute of Tourism (IPAT), and
Government investment of over US$10 million per year in international advertising of Panama as a tourist destination, technology center, the largest distribution center in the Americas & a major international banking haven.
MOUNTAIN AREAS
Boquete is located in the province of Chiriqui, at an altitude that varies between located 3,500 - 5000 feet. Boquete boasts a comfortable year-round climate which ranges between 55°-78° F.
Boquete is located just 45 minutes from the warm city of David. Boquete is often referred to as the city of eternal spring or the city of flowers and coffee. Boquete was founded on April 11th 1911 and its first inhabitants were originally from other districts as well as inhabitants from Switzerland, Yugoslavia, Sweden, Germany and North America. For this reason, its properties, farms and houses are a showcase of reminiscences from styles of architecture that are traced back to these countries.
The cultivation of flowers, fruits, coffee and a variety of garden produce stand out as one of the principal sources of work for the people of Boquete. As a producer of coffee, Boquete holds the first place, and the quality of the grain is the best in the Republic.
The steep mountains of Boquete are inhabited by a group of Indians called Gnobe Buble which are better known as Guaymies. They are known best for their colorful beaded crafts, baskets, dresses and woven bags.
Real Estate in Boquete has been appreciating very steadily in the last 5 years due to several factors:
1. Boquete real estate has near perfect weather which is ideal for active retirement living and outdoor activities such as birding, hiking, mountain biking, rafting, etc.
2. Boquete real estate has rich, fertile soil which is ideal for floral exportation, coffee growing and various other agricultural products. In recent years gourmet and organic coffee produced in the Boquete region has fetched record breaking retail prices.
3. The natural beauty that can be found in and around Boquete has also attracted a growing number of residential and resort developments for the area to suit the growing influx of expat retirees.
Chiriqui is located at the southwest extreme of the Republic of Panama, and has a surface area of about 8,653.263 km2. Chiriqui has received world wide interest as an ideal area for retirement, due to its comfortable climates, low cost of living and beautiful surrounding nature. Chiriqui is also a very large agricultural center, and in recent years has been noted for it’s gourmet coffee.
On the north Chiriqui borders with the Province of Bocas Del Toro to the South with the Pacific Ocean and to the east with the Province of Vweraquas and to the West with Costa Rica.
The natural landscape of the Province of Chiriqui displays extreme contrasts, encompassing from coastal plains to dramatic mountains with altitudes in excess of 3000 meters.
The Highlands of Chiriqui are of volcanic origin and these occupy most for the territory along the Central Mountain Range. The cool highland climate is characteristic of the more elevated areas of the Province; mainly enjoyed in Cerro Punta, Volcan and Boquete.. In these zones the rainfall is abundant, almost nine months out of the year, all of which contribute nicely to the climate of this region.
The diversity of climate and regions within Chiriqui make it one of the most productive provinces of the county. The coffee and oranges from Boquete are considered among the best, as are the strawberries from Cerro Punta.
David is the capital of the province and has a population of about 120,000 and is the countries 3rd most populated city. The town center is known as Barrio Bolivar, and within the town center stands the Saint Joseph Cathedral. David is a colonial town, and one of its many attractions is the Jose de Obaldia History and Art Museum in honor of the founder of the province.
When you enter Valle Escondido, you feel as though you’re stepping back in time. This beautiful duplex home is architecturally similar to reflect the Spanish Colonial period with old Spanish tile roofs, floor tile and wood ceilings. Large open patios are typical because our perfect climate allows for year round outdoor living. Couple this timeless style with the technology of today’s home construction and first world which includes High Speed Internet ADSL and voice over IP telephone service and you have a dynamic combination of old and new. Valle Escondido is located in Boquete, Chiriqui
ISLAND AREAS
Taboga Island, also known as the Island of Flowers, is a beautiful island with an intriguing history, a quaint village of about 400 residents and several hotels and beaches as well as an abundance of nature trails.
The Island of Taboga has several beaches to choose from, and most of the beaches offer stunning views towards the Panama City skyline. There are daily ferries to and from Taboga which is roughly 12 miles from the mainland. The boat trip to the island is just under one hour and very enjoyable.
The history of Taboga is very interesting and dates back to the times of the Spanish Explorers, and for a short time in the late 1800´s served as home to the French Post-impressionist painter Paul Gauguin.
There are several homes on the island of Taboga that have won various architectual awards.
Also, despite the simplicity of the town, and humble, honest town people, from Taboga you can have first world amenties such as broad band internet, competitive phone services as well as beautiful views of the Pacific Ocean, nearby Islands of the Pearl Island Archipelago, and the striking Panama City Skyline.
Isla del Rey (Island of Kings) is the largest island of the Pearl Island Archepelago at about 30,000 hectars making it larger than the island nation of Aruba. Unlike Aruba, however, Isla del Rey is a lush tropical island with an abundance of water including various waterfalls, rivers and natural springs.
The surrounding waters are pristine, and teaming with marine life such as whales, dolphins, sea turtles, and game fish. The sport fishing in the Pearl Islands is world renown with over 200I GFA (International Game and Fishing Asssociation) records.
The Pearl Islands also has an incredible history of Pirates, Treasure, Spanish Explorers, and in more recent times, the rich and famous. The Shaw of Iran sought refuge in the Pearl Islands after being exhiled from his country. Also, such celebrities as John Wayne, Pierce Brosnan, and Jimmy Buffet have vacationed, and fished the waters surrounding the Pearl Islands.
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