Casco Viejo Panama, Panama Casco Antiguo, Real Estate Investment For Sale For Rent At Panama`s Historic City

Some might not believe it, but when you compile numbers... it is incredible to see. Casco Viejo is truly leading Panama as an example of social revitalization fueled by an economy that is gathering its own momentum. Its image is one of the favorite subjects of international reporters who find in Casco Viejo`s historic architecture and mixed community a wonderful story to tell... the story of true Panama and why people should come to explore it.

I don´t think I have seen an apartment in Casco Viejo to be even close to what this one offers. And I don`t think there will ever be one like this, since as you know, Casco Antiguo is all about limited offer! each home has a unique shape and history. So it is truly one of a kind. Looking for a unique, luxury home? search no further...

El Casqueño, Casco Viejo`s newspaper has now a website! beautifully done, you`ll find the articles both in Spanish and English. Check it out! El Casqueño, el periódico del Casco Antiguo, ahora tiene un sitio web! bien diseñado, ahí encontrarán artículos del Casco Viejo tanto en español como en inglés. Visita el sitio aquí:

This growth rate is higher than expected, but economic performance in the region is very diverse. Stated CEPAL Executive Secretary Alicia Bárcena. How is Panama doing?

Colombia`s 200th anniversary yesterday had given me the ocassion to tell about Casco Viejo... back when Panama was part of Colombia. Curious? fantastic historic photos here!

Panama replaces Chile in the Latin Technology Index published by the Latin Business Chronicle. And Casco Viejo claims its own statistic!

I don`t know why I didn`t realize this before, but a big percentage of Casco`s entrepreneurs are in their thirties or early fourties. From internet businesses to restaurants and bars, Casco Viejo isn`t "viejo" (old) at all! Which is interesting, because it means the Casco offers an opportunity to make business happen.

Culture and money, for some reason they are not always perceived as close relatives. Culture and social change seem like cousins, but somehow not necesarily people think they go to the same parties. However, it is through culture that we generate tourism and many other activities... and it so happens that as a tool for change is quite a bomb on its own. And that bomb has started to catch a bit of fire in Casco Viejo.

Simply incredible. Overnight, the Cinta Costera had grass, trees and connected to San Felipe´s ramp! Still not clear though how traffic will work, especially the access to the "underground parking".

Most of Casco Viejo´s government buildings where designed by Italians. Today, the Italian influence is everywhere, from our President to restaurants and even hospitals. La Dolce Vita and Panama´s Caribbean style have proved to be a great combination! La maggior parte degli edifici publici del Casco Viejo furono disegnati da italiani. Oggi, l'influenza italiana è ovunque, dal nostro Presidente a ristoranti e persino ospedali. La Dolce Vita e lo stile dei Caraibi -Panama hanno dimostrato di essere una bella combinazione!

Latest photos of the advance of Cinta Costera´s Second Phase into Casco Viejo. I was at the roof terrace of Casa Malecon, Terraplen´s first restored building, and took these photos. The maps I provide here are from La Prensa and from La Estrella´s newspaper and they explain very well the position of both "Cintas" at the coastline.

El Casqueño second edition is out! beautiful and thoughtful, it is a fair window into Casco Viejo´s everyday life and most important issues. Also, The Visitor dedicated a special edition to the old neighborhood... check it out!

A while ago I wrote in one of our brochures regarding a property at Plaza Catedral something like "Plaza Catedral is where everything happens. From the jazz festival to political demonstrations".

Buscando casa en Casco Viejo para su familia? Casa Vidal es una casa completa, en lo mejor de San Felipe. Tres recámaras, con vista al mar y piscina.

Looking to move to Casco Viejo but need a three bedroom for your family? here I review Casa Vidal, a three bedroom fully restored townhouse in the best of San Felipe, Casco Viejo.

In the past few months we have gotten quite some interest from people coming to work with Procter and Gamble in living in Casco Viejo. They are attracted by the charm of the colonial city, its "small town" lifestyle and yet closeness to the modern areas of Panama and outdoor spaces where to excercise such as Cinta Costera, Ancon Hill and the Causeway. And I knew Procter was moving their headquarters from Chile here. What I didn´t know,

Some projects take a long time, this one started in 2006. However, it is crucial for Panama not only because it reorganizes the sewage system but because it is crucial to recover what is mainly our trademark: our oceans and rivers.

La Casona de Brujas has become for years now a Casco Viejo icon for bohemian life and art. They have made their name breaking the ice at interesting unrestored buildings creating energy wherever they go. They are moving again... find out where!

Have you been looking for a large commercial space to rent in Casco Viejo? or for a really small one where you can provide neighborhood services? Benedetti Hermanos has both. A lucky combination of elegance, flexibility and location, the commercial space is designed to have a cafe and several retail (such as pharmacy, bank, laundry, etc) and has a mezzanine space for offices.

Since 2007 several multinationals have moved their headquarters to Panama. The first one to break the ice was Maersk. Today, there are 36 multinational companies in the country and the government´s goal for December 2011 is to reach the 100. See below the list

How is the Panamanian banking system doing in 2010? La Prensa ran different articles at Martes Finaciero featuring everything from investment to real estate, loans and more.

Hurrays at todays La Prensa: Panama made it to BBB ratings! Our gang now includes Chile, Brazil, Mexico and Peru. The official press conference and details will be on March 24th. If you would like to participate, here is the info.

The "little devils" at Diablo Rosso are organizing a series of talks about Patrimony. They´ll promise a lot of quality information and no "bla bla bla"... straight to the point! Whether you are interested in the technical part of restoration, or in the legal basis, or how Patrimony works around the world and compare it to Casco, this is a series you can´t miss.

Yesterday, the old Club Union in Casco Viejo boarded up the property, which is a clear sign that they´ll start construction really soon. Rumors in the street have told us there will be plenty of demolition, hopefully they´ll be supervised by Patrimonio Historico as there is a lot of beautiful historic structure inside.

When investing, everything is about "finding the right niche". What about a niche within a niche within a niche?

One of the largest projects in Casco Viejo, Benedetti Hermanos is finally gearing up to deliver units this year. With a total of eight apartments and one large commercial space (basically 400 mt2, over 4000 ft2). The residential units average 200 mt2 (over 2000 ft2) with penthouses around 345 mt2 or more. Real photos of the finishes here!

Travel guides are a great way to orient yourself when visiting a country for the first time. It takes a lot to update the booklet, but we are happy Bradt Travel Guide took the effort and found Canal House, Casco´s tropical bed and breakfast. Check what they had to say!

Hotel Central: You could start pointing fingers right left and center. But really, who is to blame?

Looking to rent in Casco Antiguo? here is a wide list of what is available right now in 2010.

Investing in Latin America? This might be interesting to you...

2009 was an "interesting" year for business and the market in general. How did the financial crisis affected Casco Viejo? How was 2009 in terms of Real Estate, investment, community? How is 2010 looking like?

In the last 8 years, Panama has had an incredible growth. Tourism, construction, the Panama Canal, banking, every area seemed to be thriving, and got the country to touch amazing growing rates comparable only with China (9% - 10%). But there was an area that was left behind: public transportation. Today, we got good news about it.

Some say Panama is Hong Kong meeting Costa Rica. Panama´s depth is there for the curious soul, but is also a place with a guilt free laid back culture that allows you to disconnect from the world if that is your choice. White beaches or history? why choose?

Yesterday we had an interesting couple coming to the office. He is a broker and a surfer (throw in some snowboarding as well!) and was looking for a place to invest. His main goal was to get away from cash and transform it into hard assets. We was seeing the wave coming in the horizon and was ready to make his move...

Last week the Economist ran an in-depth article regarding the impact of the Panama Canal expansion on the Panamanian economy. The article is a must read for anyone who is or is thinking about living or investing in Panama. It gives one of the best overviews of Panama's economy and the reasoning behind the expansion that I have seen.

Last Saturday House Hunters International aired an episode called "Two Best Friends Invest in Panama" featuring Casco Viejo... and me! (alias Patrizia Pinzon, not Patrizia Penzon as it was spelled in the website. The thing with Spanish is that the vocal "i" sounds like "e" in English) along with Eric and Vladimir who are childhood friends that decided to invest here and now are an active part of Casco Antiguo´s community.

Friday night, was a historic night. No one would have thought that finally a restored condominium in Casco Viejo would have the following address: Terraplen, Casa Malecon. But Friday night, the project inaugurated, in the middle of a controversial Cinta Costera project and a raw area that struggles to resist change.

You can´t believe how easy it is to jump in a plane in Panama to go anywhere. New York is only 5 hours away. Somehow, both cities seem to like each other...

Real Estate in Casco Viejo is truly exciting. To see these buildings come back to their best years and revitalizing a neighborhood is the best part of the job. Check out the latest update for the hottest real estate spot in Casco Antiguo.

Casco Antiguo has been buzzing this year with new businesses and construction. However, this is the first time it makes main financial news.... learn why!

Mojito´s Grill opened its doors at Plaza Herrera at one of the most authentics spots in Casco. And Diablo Rosso, the art devil of San Felipe just turned one year old!

Casco Viejo is more than ever connected to the rest of Panama City thanks to the Cinta Costera. The original plans, however, included a piece that would literally connect Terraplen and somehow it didn´t get done during the past administration. A controversial project from the start! We finally have the plans.

Are you asking yourself how life (and nightlife) really is in Casco Viejo? find out first hand!

Two new restaurants have opened in Casco Viejo, Panama: Antigua at Plaza Catedral and Aromas Café at 11th street. Another one, Venezuelan owned and operated will soft open today.

During this world wide financial crisis, many countries have suffered and Panama, which had a growth up to 11% slowed down. But, somehow, it has kept its head up reporting growth even this year and making it into the international lists where keeps the good company of far bigger countries.

Speaking of having people from Amsterdam visiting Panama... Heineken just moved in!

Plaza Bolivar so far is Casco´s most lively plaza. Check out a photo here with the location of the current restaurants.

It is official: the Gaceta Oficial de Panamá published the authorization to continue the Cinta Costera by Terraplen into the dock´s area where the Public Market used to be.

2009 points out to be an intense year: the works for the Panama Canal Expansion will start, the new transportation system Secretary will need to show some concrete actions, big companies like Chevron are raising their capabilites and Panamanian banks try to keep leading the region.

And you thought you were into organic and recycling. But nothing like the "old days"! they knew how to use EVERYTHING and beautifully.

Los Cuatro Tulipanes made an interesting video about Casco Viejo, interviewing investors about their experiences and their vision.

Great news at today´s La Prensa: the Panama Canal Authority will be opening envelopes tomorrow and evaluating the proposals on the bidding for the Panama Canal Expansion. Who is bidding?

The old Union Club has been an iconic building in Casco since its foundation in the 1920´s. This weekend, due to a very windy storm, it lost it´s chimney (and the tree that was holding it together).

The famous (or infamous, depending on who you are reading) Cinta Costera opened this Sunday. It will change the way many think of the city, its water front, its parks. And the best part of it: it takes you straight into Casco Viejo ... in no time!

Here are photos of everything... delicious street food by Sabores de mi Barrio, people, musicians, concerts... got so many, but this is my selection. Enjoy!

Passing the rocks, crossing the dunes, there are still unexplored places in Casco Viejo...

Panama´s National Comptroller Office had announced a growth of 3% for 2009. How is the country doing so far?

Panama was one of the few countries in LatinAmerica that escaped the red numbers on its first trimester.

Developers of the residential building are taking fire for violating regulations in the area.

Four new hotels in Panama from the Hilton chain, tourism grows 6.4% and banking system announces that they won´t be needing the credit incentive package after all... too much optimism? is this the beginning of recovery?

Yesterday, I sneaked into San Francisco de Asis Church, as someone sent me a tip that they where providing maintenance to the tower. Fabulous! the views from there are unbelievable. Here a small show of my best pictures!

By means of Executive Decree No. 26 of March 2, 2009, the Government of Panama significantly reduced from US$615,000 to US$260,000 the bank time deposit at the National Bank of Panama required to qualify for a Second Passport.

This past month, we have seen two iconic cases gone to the papers provoking scandal among all who care and love our Cathedral Plaza: the overbuilding of PH Independencia and the falling of Hotel Central´s lateral calicanto wall. On both cases, the chapter of ICOMOS in Panama (a technical advisor to the UNESCO) has gone out to demand attention and to make sure political corruption won´t be an obstacle in the process.

Casco Viejo For Rent, updated list of apartments for rent in Casco Antiguo and commercial space

People often wonders how is everyday life in Casco Viejo. This is it. And we love it.

What a weekend! Panama´s Presidential Election, How does it work? who won? what to expect?

Many look around and spend hours searching the web for this information. While most of it is in my own website (and you can see photos, etc) I see how having a chart can be really useful.

Developing in Casco Viejo is both a science and an art. Experience and common sense have to blend with the historic restrictions and be sensitive to the environment. It is a complex process that we only recommend to people who have the correct skills and team behind them, and that will be on the ground full time for at least three years. While most of our clients might feel this is too much, every year I see examples of what can happen if something goes wrong. Yesterday, we witnessed a very sad example of lack of planning and the most basic common sense, which led to the partial destruction of one of Casco Antiguo´s most valuable icons.

Recently I published a list of all the properties For Rent in Casco Viejo. Now, here is my updated list with what is For Sale in Casco Antiguo right now. See how much the fully restored condos in Casco Viejo are going for and also some of the best located unrestored buildings. The map marks also where the main active hotel projects are located: either existing or under construction.

"Raindrops are falling on my head".... but it doesn´t stop the carnival! Panama is entering into the rainny season, hated by many but highly appreciated by all nature lovers. Check out the event calendar for the month: art, music, theatre and ecological trips at Casco Antiguo´s nearby jungles and beyond!

Very good "baby blue salad" (salad with pears, blue cheese, raisins and nuts) and friendly ambiance. A place where you can choose to "grab n´run" or to stay and relax.

Panama mega investments are going forward full steam ahead. With the Presidential elections coming up next week, the current President Martin Torrijos Espino is eager to cut the ribbons and inaugurate it. Check out this recent aerial photo showing the big park extending through the coast.

Low tide in Casco Viejo uncovers secret spots all over. Only available for limited time, as they hide again once the tide goes up.

With health coverage droping in countries like the United States it makes sense for people to look for other options. It seems that Panama is almost 50% cheaper than the States and quality isn´t compromised.

Looking for rent an apartment or a commercial space in Casco Viejo? Here are the options available right now!

Obama is lifting finally parts of the Cuban embargo. While you are thinking on traveling to Cuba, read this first....

United Nation´s economic agency for Latin America and the Caribbean called CEPAL (Comision Economica para America Latina y el Caribe / Economic Comission for Latin America and the Caribbean) published in its website their growth projections for the region for 2009. According to their economic study, Panama will grow over 3% this year, leading the region´s development and surviving the crisis better than its peers (at least for 2009).

All of this happening in Plaza Herrera! while always considered the "back" of San Felipe, somehow I´m getting the impression of being at a cutting edge front.

Emerging artists, locals, investors, art, music and criollo food. Casco Viejo has become Panama´s reference for cultural events. But there is more to it than meets the eye...

With a diversified economy and a strong, conservative, banking system, Panama is on the move to protect the country as much as possible from the current economic crisis. For the last three years, Panama positioned itself as one of the fastest growing economies in the region, with numbers as far as 10% a growth reached only by countries such as China.Worldwide, this year has been very different for everyone. But Panama’s advantage over the region may survive ...

I am not joking when I say I have never seen anything move so fast in this country. I don´t know if it is because the Presidential Elections are so close now (in May)...

After a long absence, Air France - KLM celebrated on March 30th it´s first "comeback" anniversary with an important number of passengers to the region. A multi destination regional strategy might be "coming soon" as Central American Ministers of Tourism meet in Panama in the next few months...

With the moving of the regional headquarters of some important companies, the availability of rental apartments might be a bit short these days. Also, the process of the contract, signing and taking over the apartment might be stressful... and even worst, hooking up the utilities (phone, electricity and water in some cases) a true nightmare. So, how to go about renting in Casco Viejo?

Panama will receive today a delegation led by Prince Philippe of Belgium and his Minister of Economy Vincent Van Quickenborne. The goal: to participate in the expasion of the Panama Canal and explore the country´s benefits as a regional hub.

A 705 million dollars international business park is being built 15 minutes away from Panama´s Colonial Quarter, Casco Antiguo. Learn where, how and who is involved...

These past two weeks have been a frenzy for Ariel Espino and his team at Oficina del Casco Antiguo. Not only he was running business as usual with all the social programs the OCA has and building renovations that range from social housing within Casco Viejo to the rescue of old ruins and turning them into beautiful public spaces, but he was also - and for the first time at that office - launching an ambitious website, and even more, hosting a special UNESCO delegation that arrived to check on how things where going down here due to some letters they have gotten that the Casco was in danger.

Finally!!!!!!!! One of the axis of Casco Antiguo has its own website. We waited a long time, but it was well worth it! The website is a reflection of everything Casco Antiguo is: a mixed, vibrant community. Full of art, color and flavor. Congratulations!!! Also, a big hurray for Clara Hardin, our associate who appears at "Mi Barrio" ("our neighborhood".

Leaving forever the place you´ve been at for a long time and where your family and most of your friends are is quite a scary thought. But planning for a one or two year adventure in a cosmotropical country (where they can come and visit, or even join you) is a totally different thing!

Times Magazine article featuring Panama and Casco Viejo! flash news!

"Imagine if New Orleans had ignored the French Quarter for a century" .... "Now the neighborhood vibrates with the rough energy of transition. Local blasts reaggeton beats into the street while nearby chauffered SUV´s drop off an international set at .... " This is from the latest GQ magazine Travel section... run and get it! as they don´t have an online version yet.

Jeremy Schwartz from the Star - Telegraph visits the Casco and shares his experience on this Havana- like part of Panama.

I keep updating this, but businesses are opening very fast. More to come soon in Cuatro Casas!

With the US and specific places like New York going out of jobs for all ages, but specially the younger crowd, Panama, somehow is now attracting a completely different profile almost by accident: young, professional and entrepreneurial.

Banco General, one of the biggest Panamanian banks announced 58% growth for 2008. What will 2009 bring in terms of world wide economy is hard to tell. But it is nevertheless something to consider seriously, and if fundamentals are good, give it a try.

The Cinta Costera has reached Casco Viejo! check out the photos... change is on its way!

"Despite the global economic downturn, Panama's economy remains strong—the country expects GDP growth of 8% this year, Nordström says, and while work on hotel projects has slowed slightly, construction permits are up 35%, he says." Check out this article from HOTELS magazine... quite interesting!

The Wall Street Journal features Panama and Casco Viejo! don´t miss the article HERE

"Panama is up-and-coming like never before, quickly becoming the destination of Central America. And there's little wonder: Panama's beautiful Caribbean coastline remains undiscovered in many parts, fiercely protected by the Kuna tribe who shun modernisation, while Panama City is a destination in its own right with skyscrapers juxtaposed with the old town of Casco Viejo". This is the online quote from Conde Nast Traveler´s Top 20 Destinations for 2009. Learn more!

After a year of several shocks, ups and downs in value, and true uncertainty regarding the future, we wanted to start fresh this new year with an inspirational thought

With a golden summer sun shinning over its beautiful colonial buildings and brick streets, Casco Antiguo welcomes 2009 with a bag of good news:

New year, new office, new adventures! Arco Properties at its own headquarters!

My office is a mess!!!!! But my frustration of putting all in boxes and dealing with transferring phones is only balanced by the excitement of moving to our own headquarters. Yes!!!!

Surfing the web I found this good set of virtual tours of Casco Antiguo. Check them out! we also have a section in the website that shows a couple, but these guys have different views, so between the two you can get good visuals of the historic city. The photos aren´t that good, so go straight to the map and click on the red dots.

Skaters welcome to San Felipe! With the double purpose of keeping kids out of the streets and keeping them in good shape, we are sponsoring space for a Skate Park within one of our buildings. The guys from Flow (the skate and surf store) donated the materials, some equipment and training, and the kids brought their enthusiasm.

One of the fondest memories I have of Christmas is going to visit my grandmother ( a former Casconian, waaaayyyy back when…) and spend hours either making or playing with the Christmas Model Town. We call it “el nacimiento” which in few words describes a small town made out of toys featuring the Christian nativity scene. You could go all the way up with those things, there where those who took the entire garage in their homes and did a real mini Israel out of it.

Yesterday I had a fantastic evening with a client who is looking to move to Casco Antiguo next year. It was very interesting to hear him out, not only why he was moving out from the States (the financial crisis, the lack of opportunities for a young guy to get a business going unless you had a lot of cash) but also his view on why Panama (and Casco Viejo, of course) is his best strategy under the difficult circumstances.

Today I was having lunch at Casuale (calle 1era) and saw this historic photo... which I happened to have the current angle! freaky, no?

Panama, and more importantly (for us) Casco Antiguo got featured at CNBC European Business December edition. Check out the article here!

Cities are a reflection of the people who lived and built them. There is no doubt about that, as architecture is made to our own meassure and that of our dreams and comforts. Here is an interesting article by journalist David Kaufman at the Financial Times which compares the eclectic styles of Tel Aviv to Panama´s Casco Antiguo.

I´m still sort of new at this, but I´m very proud of my little video. It has good views of the filming locations of James Bond´s Quantum of Solace: where they did the party, the hotel, First street, where Daniel Craig stayed... and more!

Summer is everyone´s favorite season. Blue sky, full suntan, ocean breeze... check out this romantic picture taken from one of our short term rental apartments.

Obama´s election was cheered by everyone. However, there is so much stuff to fix at home, so many sacrifices to be made... so much hard work. What about Panama? Casco Viejo? what are the advantages, the choices?

Sunny, beautiful morning in Casco Antiguo. Summer is here!

Two interesting articles have come out about Panama related to the latest James Bond film Quantum of Solace: The Telegraph "Property in Panama... Wherever they laid their hats" by Teresa Manchan and Five James Bond Escapes by Oliver Pug (The Independent). Check their quotes on Casco Viejo and interviews to residents and owners!

Panamanians are repatriating their funds to Panama, along with a lot of other nationalities. Learn why all of them are considering Panama as a safer place to "wait" and "weather the storm"...

Casco Antiguo is gearing its construction towards the most productive time of the year: summer! Learn about the status of the projects and where can you buy units. Ranging from all sorts of amenities to tax benefits and architectural styles.

Many historic centers in Latin America have been the focus of government and private initiatives seeking to rehabilitate the building stock and position the areas to serve the tourism industry. In most cases these efforts have led to the displacement of lowincome residents or of residential activities altogether, due to gentrification and commercialization of the district. This article seeks to advance this discussion based on the experience in Panama City’s historic center, “Casco Antiguo.” It describes some recent, innovative policies that have explored the intersections of tourism, affordable housing, employment, and culture in a historical context, and draws some general insights and lessons.

Looking for apartments or commercial spaces for under $280,000 ? you can browse or website, or look at our map right here!

Every day, clients ask me about real estate prices in Casco Antiguo. So far, it has been difficult to organize, but I feel a word has to be put out there to educate both buyers and sellers on the reality of the market. So many times owners would price things out of range, or buyers would be confused by what might be a good deal or not. These charts might give you a good overview on what has happened on the latest transactions on both residential and commercial.

I first visited Havana Vieja in Cuba around 1996. It was a very interesting trip from which I learned a lot about our common roots, despite our different current political lives. Culture and architecture reflects our spirits...

Last week the world went bananas on the trade market. A rollercoaster that has more than one at the edge of a heart attack, it has been really worrysome for all of us to see gigants fall and take with them everything they can. Markets in Asia, Japan and Europe have been affected. In Panama, however, things have been slightly different.

The World Bank is investing heavily in Panama. Yesterday, they announced that they are considering a $400 million dollar financing for the Panama Canal Expansion project.

"A Cultural Cornerstone" is today´s New York Times travel article about Casco Viejo, Panama, featuring our favorite hotel Canal House Panama as editor´s pick and businesses like Karavan Gallery and Indigo Restaurant. I love it when people visit, but the best for me is to live here...

In many countries, cultural activities fuel tourism, which becomes one of their main economic revenues. With Casco Antiguo, Panama has a unique opportunity to be launched into the world´s cultural map. Check out the details here...

An ambitious project is being announced: the World Bank and the Office of Casco Antiguo will invest close to $2M to promote cultural industries in the historic city. Here is the article in Spanish, by La Prensa...

When you arrive into Casco Viejo you know if you belong here. Some have it tattooed in their foreheads.... or other parts! if you think I´m kidding, read this True Casco Viejo Story. Pictures won´t let me lie!

KLM and Air France flights to Panama keep increasing. In a world where most air companies are actually doing the opposite, this is highly unusual. Learn why!

If you are planning to travel to Panama and exploring real estate will probably be part of the fun, this is the people you’ll need to meet:

A new client recently asked me “Is Casco Viejo gay friendly?” For a moment I had to think about the question. You see, growing up as a ballet dancer I never even gave a thought to it.

Santo Domingo Beach is the closest beach in Panama City and Casco Viejo´s best kept secret. While everybody in the city was trapped at home, in Casco you can walk out to the beach and enjoy!

Panama has been growing very fast for the last 8 years. A "miracle" made by a curious mix of tourism, investment and other countries misfortunes (Alias Venezuela and Chavez or Colombia and the FARC). Although on the short term there´s been a great impulse by the construction sector, consider Panama´s big three big long term fundamental investments: the Panama Canal Expansion project (which has already started), the relocation of the regional office of very important companies such as Caterpillar, Maersk, Dell, Procter and Gamble, Aventis and finally the oil refinary project in Puerto Armuelles

Multiple websites and adds mention Panama as Paradise. Is it really? what about Casco Viejo?

Last Saturday a nice article came out about Casco Viejo (which in Panama is known as San Felipe, Catedral, la Ciudad... so many names!). I looked for it in the electronic version of La Prensa, but couldn´t find it. So here is my translation and the original piece scanned at the bottom. It talks about speculation, restoration, patrimony (human and architectural) and what has been done in the past 10 years.

While everybody is excited today about Beijing´s dramatic opening for the Olimpics (which, by the way, where simply amazing! wao), another bright sun shined this morning over the newspaper as they announced

While the Panama Canal Expansion has gotten all the national and international media attention, oil companies like Occidental Petroleum (OXY) and Qatar Petroleum have entered almost through the back door...

The oldest inside joke in Casco Viejo is that it isn´t a colonial city at all. As a matter of fact,

Buying a restored apartment is one of the best investments you can make in Casco Viejo. It is an almost risk free enterprise where your costs are known and very little variation occurs. Also, you can get it rented almost immediately and your big gain is in the appreciation, so you can legally "sit on it" forever. But there are a couple of things you need to know.

Ciudad del Saber or City of Knowledge is literally a city within one of the former US military bases called Clayton. One of the most visionary compounds in Panama, it has become a technopark that holds universities, laboratories, incubators for young entrepreneurs and just all sorts of new stuff. If it is revolutionary, ground breaking, you can get in and benefit from a wide platform of incentives. So who is there and what is it exactly that they do? for example,

The Oficina del Casco Antiguo has been quite busy. From cultural events to the urban planning of the Casco there are very few aspects where they aren´t present. It´s Director is a dinamyc architect with a passion for historic cities, which makes it perfect. In this interview, he speaks about the train project , the advances against speculation, the controversial projects at Hotel Central and the old Club Union.

Panama will have a Renaissance Hotel (by Marriott) by 2011. This announcement was made by Edward Fuller, president and executive director for Marriott International in the region, who mentioned this would be an investment of about 40 million dollars. "Panama´s economics are strong and the hotel industry is in constant growth". Renaissance Panama Hotel is expected to have

Looking to open a business in Casco Viejo, Panama? Or maybe to rent an apartment? There is always limited product, but from time to time things will come to market (and get rented right away). I actually had to pull out 2 units while writing this issue!

Have you seen those TV shows where they take a one level house and turn it into a mansion or where they promise you to look at least ten years younger by changing your makeup, style or even surgery? I have seen some incredible human makeovers in a show that is all about plastic surgery. Well, in a way, restorations at Casco Viejo have the same incredible effects.

Ah! La Bella Roma! From the cradle of Western civilization to a huge melting pot, for those who have visited or lived in Rome it blows your mind away and steals a piece of your heart. But if you actually want to own a piece of Rome, you’d better be prepared to give also your kidney away (the good one), an eye and seriously consider adding up one of your lungs to sweeten the deal. Wao. The incredible thing isn’t that prices are astronomically high; it is that at over $20,000 US dollars per mt2 or $2,000 per ft2 people are still buying.

From time to time, I like refreshing some information that has been useful to my readers as where to stay and what to do in Casco Viejo is constantly changing:

Someone once told me that if he wanted to know who was going to win the elections he would ask a taxi driver. To know how a country is doing on the investment side, my taxi driver is called hotel occupation. Who is showing up and how frequently will tell you a lot about the current state and the future of a place. Check out the latest Panama news!

Ok. So Panama is about 20 years behind on releasing its E Commerce legislation, but ... hey! ... at least it is out there now! know more about it, download the law.

Panama hosts DHL´s largest hub in the region. This small phrase means a lot for a country so small. But then again, Panama has always been in the middle of the Americas, joining land and separating oceans. From Columbus to the Colon Free Trade Zone, the phrase "all roads lead to Panama" might not be too far off...

Meditating about what has value and what doesn´t is a profound activity, almost zen-like. It has to do with the fundamentals of the property, but on a bigger picture even that is subdued to one and only factor: what makes a human happy.

Last night most of Panama´s socialites (or our version of it anyways) gathered in Paseo Las Bovedas, to the launch party of Quintessentially in Casco Antiguo. Don´t miss the photos, I´m sure they´ll be quite popular between some of our visitors...

Our friend Mary sent us this interesting article. I smiled at the phrase "the secret is out" since it´s been out for a while now, but a good word out is always welcomed!

Where to eat, where to stay and what to do in Casco Viejo, Panama. Restaurants, bars, theatres and more

Like a soldier holding the fort under "extreme weather conditions" (meaning the day was hot as hell) Mery held her head high and smiling during the last Casco Viejo Flea Market, all for a good cause: to provide information to the local population about...

I held a very interesting conversation the other day with two young fund managers about the US recession and it´s impact on Panama. One an optimist, the other a pesimist, myself in the middle, all three actually had a basic common opinion about investment here. Somehow, Bear Stearns shares it too...

Italians step into Casco Viejo! Café Due opens its doors on Avenida A and Calle 1era.

I had an interesting conversation yesterday with a client. He was looking for a property in Casco, mainly an apartment, and he asked me what was the best purchase he could make. Here are 5 easy steps to answer that question.

Fitch Ratings revised its outlook on the Republic of Panama to positive from stable, citing growth momentum and fiscal consolidation, which has put Panama's public and external debt indicators on a downward path.

Panama is investing more than $4 million dollars on airport infrastructure all around the country. At the same time, new carriers are adding up and current ones are increasing routes and flights. France is now only 10 hours away, KLM will start direct flights into Amsterdams hub in February.

Panama Real Estate Investment: This is a small project which we hope plant the seed for a big change and help raise the bar in developments in the area. It will be the first project in the old city to have...

Cinta Costera Panama: For those who thought it would never happen, or that it would take ages... it is real and going forward at full speed. What does it means for Casco Viejo residents and investors?

You open the newspaper anywhere in the world (Panama is not the exception!) and all you see is trouble. Get to the "international" section and you are splashed with the blood of all the current conflicts overseas, which are, sad enough, many.  The environment is suffering no matter what people say or don´t say and everything sounds so apocaliptic it makes you unsensitive. It surpasses your level of caring. What can I do? I´m just one person. Problems are just so overwhealming. We have too many of our own problems to be worrying about water, pollution, poverty and war.

But then I get to work, to my "mini" environment, to those small things I can control and contribute. From home composting to donating courses for low income families to get their children to the Scouts or the mothers back to school. Small details that change their lives forever, a great return for little money and a lot of good will. 

One of the things I enjoy the most from living, working and investing in Casco Viejo is that it gives me the opportunity to help others around me. I didn´t have that compelling thrive when I lived outside Casco. The phrase "To Live, to love, to learn and to leave a legacy" was confined to teaching ballet the best I could to my young students.

But in Casco Viejo you can be the difference. And the multiplying effect is almost immediate.

Families growing happier, step by step taking control of their lives. Children learning new skills with a smile on their face. Buildings getting restored, history recovered. A city coming back to life.

At the end of the day, we don´t need to save the world. We only need to save as much as our street. Not even our neighborhood! that will fall naturally. Sometimes I think the problem is when people say: either I go for the big stuff or I don´t do it at all. Well... Big stuff is important, but starting on the lower level sometimes is more meaningful and creates the basis for the big stuff to happen when things are ready.

And what do I gain? directly: happy neighbors! In my own small way, I believe a better neighborhood makes for a better country and a better future.

 

Panama Real Estate Investments: In 2007, Panamanian economy grew 9.5%. This is Panama´s 4th year of sustained growth where the GNP per person has incremented 7.7%. Public debt was reduced (from 61% to 54%) and public investment increased. Find out more!

Is Panama on its way to become the new Hong Kong of Latin America? a wild thought, and quite unthinkable ten years ago... but not all that crazy these days. The Canal Expansion alone is generating masive amount of business, but ironically it is only one of many other indicators that are either at the same volume or more. A well balanced economy, in the middle of the America´s Continent. It´s rapidly becoming the best hub to access the region. See some numbers for 2007 here...

Panama got a 40 Million Dollar financing to clean Panama´s bay. A "simple" task with endless positive effects. What does this mean for Panama City? for Casco Viejo?

It´s official: 20 Year Property Tax Exoneration for new apartments and residences for projects with occupation permits until December 31st 2009. Read La Prensa Article here

Panama Real Estate Summer Investments: December is one of the most pleasant months in Panama. It also means January is right around the corner, the dry season is coming, which means huge productivity in construction for all the projects.

Investing in Real Estate in Panama. I often comment on my clients that Casco Antiguo is like Woody Allen: either you hate it or you love it, there is no "in between". It is definatly not for everyone. For the right person, it is very easy to fall in love with it on their first visit. They get the same feeling as a kid walking into a store with tons of candy, wide smile on their faces, dreams about their restored home. But... hey! wake up! it takes some serious work and personal honesty to go further this point and succeed.

One of the things I enjoy the most of living here is the fact that "going out" is as easy as walking to my favorite restaurant or bar. Somehow I realized there is no guide with all the contacts of Restaurants, Bars and other businesses in the Casco, so here it goes!