Luxury Homes on Panamanian Beaches

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.

Monday, September 10, 2012

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

The most sought after are the banks of the Pacific, starting in the Capira district, continuing through the area of Coronado, San Carlos and Farallon in Cocle. The same situation occurs in the Azuero Peninsula and extends to the province of Chiriqui, such as the Barqueta resort.

On the coast of the Caribbean in Colon there are also projects such as the community of San Marino.

"Projects in Gorgona, Coronado, Vista Mar, Río Mar, Bijao, Santa Clara and Azuero, among other places in the Pacific, supply this luxury segment ranging from $500,000 to $3 million", notes an article in Prensa.com

"Factors such as location, architectural designs (primary building materials), privacy and amenities such as the inclusion of hotels, restaurants, golf courses, equestrian clubs, shopping centers and recreation areas make these projects achieve very high prices."



More on this topic

Panama: Growing Demand For Beach Apartments

March 2016

An inventory of apartments on the beach front could grow from 400 to over 1,600 units in three years, thanks to demand from domestic and foreign buyers.

Buying an apartment on the beach is not a something that only foreigners do in Panama. Although prices range between $200,000 and one million dollars, Panamanians in the high and upper middle class brackets are also positioning themselves as buyers of such properties, according to studies cited by Panamaamerica.com.pa. Important sectors of Punta Chame to Playa Blanca, Farallon, Santa Clara, El Palmar (Hato River) and Rio Mar (San Carlos).

Residential Investment Increases On Panama's Coasts

October 2013

The growth experienced in real estate development in the Pacific coast of Panama has not been tightly regulated.

Capital.com.pa reports: "... at the most recent construction fair, Capac Expo 2013 there were presentations of 36 projects in the Pacific area corresponding to the category of second homes or country housing units with access to beaches." Of these projects, 80% are located between Punta Chame and San Carlos and they don't include hotels.

Panama’s Residential Market

December 2012

The residential market in Panama City remains stable, with slightly increased demand for Class A buildings at 74%, up 2% on the prior period.

CBRE Panama submitted its report on the housing market for the first half of 2012:

The residential market in Panama City has remained stable in the first half of 2012, showing an absorption rate of 74% in Class A buildings compared to 72% in the previous period.

Nicaragua: Restart of Hotel Project Announced

November 2012

In light of a better investment climate, construction has resumed of the luxury oceanfront condominium project, after becoming stalled two years ago.

Milagro del Mar was designed to create an exclusive community within the Gran Pacífica, with 122 condominiums, 20 villas, swimming pools with waterfalls and a pool by the ocean, a gym, a restaurant and a convenience store.

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