Panama Real Estate For Sale | Casco Viejo 5 Property Overview (2010)
I’m Mara, and I’m here in Casco Viejo,
Panama. This colorful neighborhood was added as a UNESCO World Heritage Site in 1997 and
is now the adorned location of all Panamanians and expats alike. In this video we’ll tour
5 amazing investment opportunities here, in Casco Viejo.
We’ll briefly tour a large park side office building, a 47 unit apartment building, an
ocean side mixed use building with approved expansion plans, a 3 floor park side apartment
building, and a large un-restored former railroad tycoon’s mansion. After, we’ll explore
the neighborhood’s charm and financial incentives when investing in this unique area.
Now let’s take a look at these 5 amazing investment opportunities here in Casco Viejo.
The first featured property is a gorgeously restored office, retail, and storage building
initially home to Panama’s first department store located on a one thousand nine hundred
ninety square meter lot directly in front of Parque Santa Ana.
The 2 floor 400 square meter office space of this former French bazaar is completely
remodeled with modern comforts and quality but the charm and elegance of this property
has been beautifully restored. This expansive space on the 2nd and 3rd floors of the building
will be sure to impress with gorgeous views of parque Santa Ana, soaring ceilings 4 meters
high, a conference room, a kitchen, and shiny tile floors throughout.
There are 2 retail spaces located on the 1st level and a large storage area in the rear
for a total building size of four thousand five hundred thirty five square meters.
The next featured property for sale is a 47 unit revenue generating apartment building
with 3 ground floor retail spaces on Avenida B in Casco Viejo. With expansive views of
the ocean and city, this enormous property is an investors dream.
Named Bola de Oro, or the Ball of Gold, this apartment building’s living and retail space
is currently completely occupied generating excellent cash flow. The total size of this
property is four thousand nine hundred thirty nine square meters, with a ground floor lot
measuring nine hundred fifty three square meters.
The 3rd featured property occupies an entire block on calle 12 A, finca 5646. The six hundred
fifty square meter lot hosting a category 4 building is for sale complete with approved
architectural plans for fourteen hundred square meters of sea side retail space and apartments.
The approved architectural blueprints are strategically designed to capitalize on the
tremendous ocean views and generous property space. They anticipate impressive 2nd floor
ocean view balconies as well as an internal patio with a tranquil fountain for a relaxing
outdoor private retreat. Our 4th featured Casco Viejo property is located
on Avenida A, positioned across from the gorgeous Parque Herrera. Finca 366 is a park view apartment
building with wonderful potential. The 3 floor structure is situated on a one hundred sixty
nine square meter lot with over five hundred square meters of potential construction.
The property has an elegant and romantic stylish façade with a wrought iron park view balcony
and a serene internal patio. The last featured for sale property is Finca
462 with one of the most beautiful facades in all of Casco Viejo. The two hundred eighty
one square meter lot with structural façade is located between parque Herrera and the
Ocean with amazing potential for individual apartments or a grand size home.
This property was formally a mansion owned by a major railroad tycoon and is now an exclusive
buying opportunity. Known as Casco Viejo, Casco Antiguo, and San
Felipe, this UNESCO WORLD Heritage Site is located on a peninsula jutting off the coast
of Central Americas most cosmopolitan city. Casco Viejo has developed over three hundred
years into a unique legacy of Spanish, French, and American Colonial, Neoclassical, and Art
Nouveau architecture. Balconies are filled with colorful plants and flowers that wrap
around decadent wrought iron railings and the streets are laid out in a grid pattern
with antique brick surfaces. There is a small neighborhood feel even though
it is located in the bustling Panama City. A resident or visitor has every option available
from exercise in Plaza Francia, surfing the internet with the government’s free wi-fi
hotspots, to enjoying a fancy night out at the elegant National Theater.
If you invest in Casco Viejo property now, you are not only able to own a part of this
unique restoration neighborhood, but you are also able to take advantage of Panama’s
numerous investment tax incentives while still locking in prices at nearly half of what is
found in the similar but more matured UNESCO World Heritage sites of Cartegena, Colombia,
and Old San Juan Puerto Rico. These featured properties are your chance
to invest in this spectacular UNESCO World Heritage Site of Casco Viejo. Time is of the
essence; Casco Viejo is changing each day into what Old San Juan, Puerto Rico and Cartegena,
Colombia have become… but with an affordable price tag that surely will rise. Thank you
for taking a tour with us, we hope to see you soon!