If you are looking for a relaxing apartment at the beach with good infrastructure near the metropolis Panama City, Coronado is the place to be. Only one hour away from Panama City is Panama’s biggest and most developed beach area. On the beautiful beaches of Coronado you will find all necessary facilities of daily life like restaurants, supermarkets, nightlife and medical care. This makes you independent of the metropolis of Panama City, but still close enough to be able to dive into city life at any time.
The beach community Coronado originates in the 1970s. At that time, one of Panama’s wealthiest families built the first golf club in the area and in the following years expanded it to include a beach club. As a result, the first weekend homes in Coronado were built by families who live in Panama City but like to spend the weekend in their properties on the beach in Panama. As a result, there were the first restaurants, supermarkets, etc. in the area.
However, the real construction boom started in 2008, when one of the big Panamanian property developers came up with the idea of building the first large residential complex with apartments in Coronado, which met with great demand from North Americans especially.
There are four large supermarkets, several bars, a cinema, one hospital and much more, so you don’t have to leave for Panama City. The mountain range of Panama with the popular mountain village “El Valle de Antón” and always springlike temperatures is only 45 minutes away by car. The area is one of the driest and most sunny in Panama, so it is bathing season on 10 months a year.
In the Coronado area, there are about 15 such large residential complexes, three of which went bankrupt and were taken over by others. We prefer only three of these properties because of their location, quality, price, leisure facilities (pools, sports activities, restaurant, etc) and beach. In the last few years, the property market in this area has been characterized by slightly declining prices, as too much has been built. For apartments on the beach in Panama in good locations and qualities you pay about 2,500 USD/sqm in this area, which corresponds to the prices in Panama City. Maximum prices were paid in 2012 at just over 3,000 USD / sqm.
Unlike Panama City, renting by airbnb is allowed here, so you can rent out your apartment in Coronado at good yields. There is hardly any competition from hotels in this area with regard to rental. The rental period here is usually from the weekend up to six months. Tenants are people (locals and expats) who live in the city and spend their weekend and annual holidays here and tourists from Europe and North America. This area is particularly popular with North Americans, as flights to Panama from there are much cheaper than to the Caribbean. Furthermore, Panama is much cheaper and safer than most Caribbean countries.
No matter whether you want to use your apartment in Coronado yourself or as an investment property, we are happy to help you with your real estate in Panama.
The real estate market in Panama counts internationally as one of the most interesting locations for property investment. We would like to be your local trusted adviser and to take care of your investments in Panama.
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