Panama, Casco Antiguo

Panama, Casco Viejo

Real Estate and Community at Panama´s Historic Town

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 the things he found appealing from Casco Viejo.

Not only he was comfortable with the quality of value he was getting for his apartment (he is buying a beautifully restored historic apartment) but also – and more importantly – the quality of lifestyle he was able to obtain here with less dollars.

And this is one of the strongest features Panama can offer. Where else can you jump from beach to mountain, to jungle to a 300 year old colonial town in less than 4 days? Get great health care (my personal insurance is under $100) for half the price (the rest you can have fun with after you recover), and have a maid/ cook and many other things for less than $3,000 a month?

For him, it was also the ability to start fresh. He used to be a fund manager, and I guess through this difficult time, he is better off cutting his living expenses in half by moving to Panama and still be able to trade if he wants on his computer. But the good thing is that if he chooses to reinvent himself, he doesn’t need millions to set up a business. He can start with something small and fun, and learn Spanish in the off time.

The more I think about it, Panama makes all the sense in the world for those looking to weather the financial storm. And Casco Viejo is not only one of the best places to invest but to relax into a neighborhood scale, where things are taken step by step and people know you by your name.