Demand for luxury properties in Panamanian coastal areas has grown and it is not unusual to end up paying up to $1,800 per square meter.  Folks, this is relatively cheap compared to other parts of the world.  I am working on a ocean front project here in Chiriqui where we will build smaller ocean view condos for under $200,000.  The key to this  is to have hotel and restaurant services on site and to be able to put them into a condo/hotel pool for owners when they are not using their unit.

An example of true luxury here in Panama can be found at Buenaventura home to the luxururious Bristol Hotel.

Residential projects, depending on their proximity to the beach and how well esteemed the area is, in many cases can exceed a million dollars.

The most sought after are the banks of the Pacific, starting in the Capira district, continuing through the area of Coronado, San Carlos and Farallon in Cocle. The same situation occurs in the Azuero Peninsula and extends to the province of Chiriqui, such as the Rincon Beach Estates where a number million dollar homes line the beach there.

On the coast of the Caribbean in Colon there are also projects such as the community of San Marino.

“Projects in Gorgona, Coronado, Vista Mar, Río Mar, Bijao, Santa Clara and Azuero, among other places in the Pacific, supply this luxury segment ranging from $500,000 to $3 million”, notes an article in Prensa.com

“Factors such as location, architectural designs (primary building materials), privacy and amenities such as the inclusion of hotels, restaurants, golf courses, equestrian clubs, shopping centers and recreation areas make these projects achieve very high prices.”

Source: Prensa.com