Panama City has a number of neighborhoods where foreigners will feel welcome and at home. They include Miami-style ocean front condo sectors, posh suburban homes and condos in Costa del Este, restored historic homes in Casco Viejo and former Canal Zone homes nestled against rainforests. For more information you can visit our Real Estate section.
Former Canal Zone Area
10 minutes from downtown Panama City. the former Canal Zone stands out for beautiful vegetation and excellent infrastructure. The homes, formerly for US military families are plain but can be remodeled into beautiful tropic homes. Residents enjoy community tennis courts, swimming pools and multiple parks.The neighborhood associations are effective in preserving the parks, green areas and preventing over building The US Embassy has a large complex here.
The Historic Sector: Casco Viejo
This Spanish colonial gem is set on scenic Panama Bay and is a UNESCO World Heritage site. Casco Viejo is one of the most popular places for real estate investment and for foreigners to live. The area features restored historic buildings remolded into hotels, condos, shops and restaurants.
Arthur Frommer of the Frommer's guides writes that Casco Viejo is "beginning to leave Old San Juan and Old HAvana in authenticity and beauty". For Casco Viejo restored and unrestored properties and commercial buildings contact Arco Properties.
Ocean View Neighborhoods: Punta Pacifica, Punta Paitilla and Balboa Avenue.
These are the most upscale sectors for apartments, Most have beautiful views of Panama Bay. They are also close to the "Cinta Costera", a beltway along the bay with scenic walking, running and bicycle paths..
Established Neighborhoods: San Francisco, Marbella, El Cangrejo, and La Cresta.
Price are much less than the bay front neighborhoods. There's a mixture of new and old apartment and condo buildings. Some buildings have city, ocean or park views. Supermarkets and shops for almost anything are close by .
Upscale Florida Style Developments:
Costa del Este is a new sector of Panama City with all the major services, many apartment buildings and largest gated community with homes between $300,000 and over a million. It"s just 15 minutes from the international airport and 15 minutes from downtown Panama City.
Right next to Costa del Este there is a private residential golf community being built, Santa María Golf and Country Club. The Nicklaus designed golf course will offer players a premier golf experience. Home and condo owners enjoy amenities, including a country club with top athletic facilities.
Across the Bridge of the America;s you have the Tucan Country Club and Resort with a scenic golf course. There is also Panama Pacifico, the master planned city being built in the former Howard Air-force Base. This new community is home to numeros corporate headquarters, new residential communities, offices, logistics facilities. International businesses who put their mention many tax incentives for businesses.