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Costa del Este is on East side of Panama City, Panama. Costa del Este is a new part of the city with a lot of new construction as well as high rises in the planning stages. The area has shopping centers as well as office complexes and an industrial park. Costa del Este has easy access to main highways and, especially, Tocumen International Airport by the toll road. Access to central Panama City is also easy by highway.

Costa del Este reminds one of an inner ring suburb of a major US city although one that has some construction still. When one refers to a part of Panama City, Panama as being new it is good to remember the city was founded in 1519 and that San Felipe or Casco Antiguo was built in the late 1600’s. Nevertheless Costa del Este has a lot of very new construction mixed with ten, twenty, and thirty year old buildings homes.

Because of Panama’s strange geographic twist Costa del Este watches the sun rise over the Pacific Ocean. There is a lot of nice ocean front real estate in Costa del Este, especially when some of the planned high rises are done.

Costa del Este Real Estate Investment

In Costa del Este a three bedroom, 114 square meter apartment is renting for $1,800 and listing for $215,000. A two bedroom, two bathroom apartment with a balcony with 98 square meters of living space is being offered for $186,200.

Costa del Este has a lot of construction either going up or in the planning stages. Many of the high rises in planning are luxury apartments in the $600,000 range.

Panama Real Estate Investment

The Panama real estate market is steadily appreciating. With Panama’s easy residency requirements and the ability of foreigners to own property here North Americans have made Panama their premier choice for retirement. Panama City’s skyline is filling with high-rises and Panama real estate investment is prospering as North Americans, Europeans, and the British flee the cold for a condo in a warm country with a first world infrastructure. The property here is in contrast to the property you will find at the beaches, for example coronado property.

Worldwide Financial Problems and Panama Growth

Panama’s gross domestic product will go up 9% for 2008, a drop of 1% from last year’s 10%. There are more jobs in Panama in 2008 than in 2007. Panama’s conservative banks did not put all of their money into sub prime mortgages and thus have money to lend. Proof of this is evident in the many large construction projects that have not had to shut down for lack of funds.

The high end of the housing market has flattened out as North Americans deal with credit issues back home. However, there is more to Panama than North American tourists and retirees. Panama does business with the world. Five percent of world trade and 40 percent of Latin American container shipping passes through the Panama Canal.

Panama real estate investment and especially Panama commercial real estate investment will likely do well for many years to come. Commercial real estate investment ties into the strength of Panama’s economy, ties to Latin America, and its increasing number of free trade agreements.

If you are interested in real estate investment in Costa del Este or any part of Panama contact us at ABPanama. We have over 23 years experience managing real estate portfolios.