Coronado: Panama's Fort Lauderdale

83 km southwest from Panama City, the crisis is barely noticeable. Villas, luxury residences, resorts, sport complexes and buildings keep on growing.

Tuesday, August 18, 2009

Two shopping centers are being constructed to serve the population, to reach 52.000 by 2010. Named The Village and Coronado Mall, $30 million are being invested in them.

The global crisis has considerably slowed real estate sales in most areas of Panama, but, in Coronado, $20 million project "El Alcázar", is almost fully sold.

In an analysis by Raúl A. Bernal in Martesfinanciero.com, real estate agents "assure that construction permits have grown at an increased pace, going from an average $20 million in early 2000, to more than $50 million in 2006 and $75 million in 2008".

More on this topic

Luxury Homes on Panamanian Beaches

September 2012

Demand for luxury properties in Panamanian coastal areas has grown and it is not unusual to end up paying up to $1,800 per square meter.

Residential projects, depending on their proximity to the beach and how well esteemed the area is, in many cases can exceed a million dollars.

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