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 Tuesday, October 14, 2008
Panama Real Estate: Pre Construction Market Watch in Casco Antiguo
Panama, Casco Antiguo
Casco Viejo, San Felipe


Construction is an intense business, especially in Casco Antiguo. Yesterday, analizing with a client his options for owning a historic property in Casco Viejo, we went through the numbers of restoring vs buying an already restored condo and there wasn´t even a question about where the good deal was: shift the risk to a professional developer, and not only you´ll get a finished product way cheaper than building it yourself but far less headache and more appreciation/ flexibility.

Here is a list of what´s out there currently on pre construction or under construction:


Residential:  UNDER CONSTRUCTION

Benedetti Hermanos: Currently under construction, two units have just been released to the market: Unit 7C and Penthouse B. Located at Central Avenue and 10th street, this is the only project that includes pool, yoga room, underground parking and all sorts of amenities like central air, central gas, weathershield windows and bamboo flooring that are and will remain to be rare in the Casco.   Unit 7 C has 220 mt2 and no mezzanine, for which you´ll enjoy the full height of the already tall ceilings.

La Posada Isabella:  Under construction, they are working already in the finishes for which it will be able to deliver units in Summer 2009 the latest, for which you´ll be able to get the 20 year property tax exemption.  These are 2 bedrooms, 2 bathrooms, 1 parking and storage included. Download the e brochure here.

Casa Garay: Just started construction, it is scheduled to be delivered in a year, although we tend to think it will be a year and a half. There are two units in the market: a lovely one bedroom and a 2 bedroom apartment.

La Merced (Plaza Herrera): Under construction. They´ve put floors up and are ready to roof. Might be ready to deliver in less than a year. There are two units available, both with private roof terraces overlooking Plaza Herrera and with water views towards the entrance of the Panama Canal. Parking available for individual purchase.

Cuatro Casas: Delivering units as we speak! the place looks great and although they are still doing work on some of the units, there will be a couple of units available soon for rent.  If you would like to buy a 2 bedroom, click here.

Casa Ruigar: Under construction, right at the side of 4 Casas and still a year to go.  Unit 5 is on the market, click here for more information.

Casa Kliemman: Under construction, near La Posada Isabela. This project might still have one more year to go. Groundfloor units that can be purchased either as commercial or residential are available, which is interesting for small business owners as it is next to Luna´s Castle, with a young built in clientele.


Commercial: UNDER CONSTRUCTION

Hotel Central: Just re started construction. After a while of having stopped because of legal issues with Patrimonio Historico, one of the biggest hotel sites in the Casco has just started it´s works again.  Having a hotel nearby injects important appreciation to the area. Nearby projects include: Cuatro Casas and Casa Ruigar.  Other nearby buildings with finished condos are: Las Monjas, Art Deco 2B and Art Deco 3A

Club Union Hotel Site:  The architects are moving headquarters to Casco Antiguo, so we should be expecting some important advances soon!



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10/14/2008 1:19 PM SA Pacific Standard Time  #     |  Comments [0]  |  Trackback