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It is said that Panama’s banking district has a density of banks only surpassed by Zurich. Panama’s banking district, or bancaria, is in Obarrio. This downtown Panama City Panama neighborhood or barrio centers on Calle 50 (Fiftieth Street) and extends from Via España to Avenida Balboa. Obarrio contains high end shopping and luxurious apartments for sale or rent, as well as a center for Latin American banking.

Banking, Business, and Real Estate in Panama

Panama is the narrowest point in the Americas where the Panama Canal connects Atlantic and Pacific. This tropical country has untouched rain forest and pristine beaches on both the Pacific and Caribbean coasts. Panama also has a first world infrastructure with the best roads, airports, ports, and telecommunications in Latin America. Panama is currently enjoying an economic boom and a flood of North American retirees attracted by easy residency laws.

Panama has a strong and conservative banking sector which is weathering the world current financial crisis. Panama banks did not go in for sub prime mortgages and still have money to lend. As a result Panama’s many construction projects are still underway remaking the Panama City skyline into a likeness of Miami or Singapore.

The heart of Panama’s banking and business lies in the Obarrio neighborhood, Panama’s bancaria or banking district. With financing from international giants like Citigroup and HSBC to Panama’s Banco Nacional Panama to smaller local institutions such as Tower Bank Panama City’s Obarrio is busy doing business while much of the rest of the world is looking for credit.

For those coming to do business in Panama, Obarrio provides excellent housing with views of the Pacific Ocean and Panama’s mountainous interior. These Obarrio apartments are walking distance or a short taxi ride from Obarrio office space. Obarrio luxury apartments are close to grocery stores, theaters, restaurants, and all sorts of entertainment.

Avendia Samuel Lewis in Obarrio has high end shopping which includes a Mazarati and Ferrari dealership. Obarrio offers something for every taste.

Obarrio Real Estate

A current listing for rental in Obarrio is a 181 square meter apartment with twenty-four hour security, gated entrance, and concierge. The apartment has a view of Panama’s mountainous interior as well as the city, air conditioning, recent renovation, and new appliances. The apartment was built in 2007 and other amenities include a pool children’s pool, social area, and a gym section.

The owners are asking $2,400 a month for this beautiful new apartment in the heart of Panama’s banking district.

Another rental listing in Obarrio is for a 185 square meter apartment with three bedrooms, three bathrooms, employee room and bathroom, air conditioning, appliances, and two parking places. This building also has a social area, pool, gym, and twenty-four hour security. The asking price is $2,000 a month.

If you are interesting in buying an Obarrio apartment a typical 150 square meter with three bedrooms, three bathrooms, three parking space units is being offered for $265,000.

A 209 square meter apartment with the same type of amenities, three bedrooms is selling for $315,000 and a 105 square meter two bedroom, two bathroom unit is going for $145,000.

Commercial Real Estate in Obarrio

Commercial real estate in Obarrio, within walking distance of you luxury apartment, typically rents for $20 or so a square meter.

If you are coming to work or retire in Panama come to see us at ABPanama. We have over 23 years experience managing real estate portfolios and do business throughout Panama. We can show you property in Obarrio as well as adjacent Marbella, Punta Pacífica, Punta Paitilla, San Francisco, and El Cangrejo. All of these neighborhoods offer wonderful housing opportunities and are close to the banking district in Obarrio.