Investing Cuban Style... in Panama

Holidays in Cuba evoque sun, guayaberas, music, mojitos and dance. An image of the famous Hotel Nacional, Cuba’s most recognized hotel mixes with glimpses of Havana Vieja and white beaches at Varadero. But truth is, before Cuba had sugar cane and rhum, there was Panama City’s historic district, Casco Viejo.

Panama Viejo, Spain’s first settlement at the Pacific was moved after its destruction by Pirate Henry Morgan to Casco Viejo (called interchangeably San Felipe or Casco Antiguo) where gold from South America was sent to Europe by mule through Panama’s dense jungle, then by boat to the mythical Portobelo and from there to Cuba.

When walking the old brick streets of Casco Antiguo, visitors are often surprised on how much it reminds them of Havana, Cuba.  Children playing everywhere, music in every corner. Caribbean architecture mixed with Spanish Colonial, French and even Art Deco, reflecting Panama’s cultural makeup in a cozy human scale.  Today, Casco Viejo - one of the most eclectic historic real estate in the region - is being revitalized, hosting the best restaurants, hotels, bars, cultural events and theatres of Panama City. 

Contrary to Cuba, real estate in Casco Viejo is privately owned and fully titled. It is one of the safest long term investments within Panama, due to its international status as a UNESCO World Heritage Site (see criteria here), Panama’s historical protection laws and the strength of a mixed community of locals and foreigners that have made of Casco Antiguo their home.  With hotels already under construction targeted to different economic niches, the area is about to experience a wave of appreciation. Prices for fully restored properties are half of their renovated peers in Cartagena or San Juan, where they have already felt the benefits of hotels and tourism.

Panama has already positioned itself as the hub of the Americas, with easy connections within America and direct flights to Europe. Casco Viejo is the second most visited destination in the country. Owning a piece of this one of a kind real estate has all the right fundamentals: limited edition, beautiful, irreplaceable, nearby a thriving modern city and just before the hotels open their doors.

Arco Properties is a real estate brokerage that has focused exclusively on commercial and residential property in Casco Viejo since 2004.  We are proud to be a part of this eclectic international community and we welcome you to join us.