This New York Time article explores the challenges now faced in Panama with a slow down in the real estate market. Along the Pacific coast, Panama’s beach communities are struggling to attract foreign investment, leading to more affordable homes.
An Oceanside Haven in Coronado
$2.75 MILLION
This Balinese-style villa built in 2008 is in the beach resort town of Coronado, on the southern coast of Panama, about 50 miles southwest of Panama City. Constructed of concrete block, with a zinc roof covered in palm leaves, the 7,400-square-foot home is bisected by an infinity pool and a garden area overlooking the Pacific Ocean.
The entrance to the five-bedroom, seven-bath property is through a breezeway facing the pool, with a kitchen and living room to the left and a dining room to the right, both of which have floor-to-ceiling sliding glass doors leading to the deck and pool area. The dining room has hand-carved doors of teak and an 11-foot table carved from one solid piece of Indonesian wood. (All of the furniture, including several pieces handcrafted in Bali, comes with the house.) The kitchen has ceramic-tile floors and dark teak cabinetry, hand-carved in Bali, as well as white recycled-glass countertops and an island.
A 15-by-40-foot, double-sided infinity pool with spa is tiled with green sukabumi stone. It abuts a rear lawn overlooking the beach.CreditFederico Rios Escobar for The New York Times