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Coronado, Panama, Real Estate: Not Just for the Elite

Coronado, Panama real estate

Chaz Jaz

With its beautiful beaches, world class amenities, and excellent location, Coronado, Panama, has often been compared to the glamorous beaches of South Florida.  Except without the jaw-dropping price tag.

In fact, despite the area’s incredible growth and development, Coronado, Panama, real estate remains rather affordable.  Especially when you consider all the amazing perks that come with owning a piece of this Pacific paradise.

How Coronado, Panama, Real Estate Became So Popular

Like most towns in Latin America, Coronado’s story starts with a Spanish takeover of the native tribes.  However, rather than a Colonial city, the Spaniards had a different purpose for the area in and around present-day Coronado.

Recognizing its natural beauty and vast resources, they established large estates where they farmed produce and raised livestock to sell in nearby Panama City and other towns.  They also fished the rich waters off the Pacific Coast.

The region remained a largely agrarian settlement until the early 1940’s when the beach town of Coronado was officially founded.  The rest, as they say, is history.

In its early days, Coronado attracted Panama’s elite.  Its inhabitants included wealthy nationals who purchased second homes in the area, as well as weekend visitors from Panama City looking to escape the urban hustle.

Today, no longer content to hide in the shadow of the Capital, Coronado has become an established destination in its own right.  With many of the same conveniences as the big city, offered in a cleaner, quieter, and less frantic package, it’s a popular destination for tourists and expats from all over the world.

Coronado, Panama real estate

R. Moreno H

The Best of What Coronado Has to Offer

It’s hard to compile a concise list of all of the benefits to owning Coronado, Panama, real estate.  There are just so many. Here are a few of the biggest perks that make owning property in the area so satisfying.

Coronado’s beaches are postcard-worthy.

It’s hard to talk about the great things about Coronado without first mentioning its gorgeous beaches.  Made up of white and volcanic black sand, the town’s pristine shoreline stretches on for miles and miles.  On a weekday, you can probably even mark off a whole secluded section just for yourself.  

At no point is Coronado’s coast more beautiful than at sunset when the orange sun and pink-streaked sky are reflected in the warm, crystal clear waters.  It’s a great time to dine al fresco at one of the seaside resort restaurants or enjoy a cocktail poolside.

Its coastal location also makes Coronado a great place to enjoy all kinds of water sports.  Popular favorites are surfing, scuba diving, kiteboarding, sailing, and deep sea fishing.

Its list of amenities is a mile long.

Perhaps because it was the first vacation haven of its kind in Panama, Coronado is light years ahead of most other Latin beach towns.  Despite the fact that it’s a developing country, Coronado’s list of features and attractions reads more like that of a first-world resort community.

For starters, it has excellent infrastructure.  The roads, transportation systems, and other public services are top notch.  Utilities are reliable, and wireless internet is accessible and affordable.  Coronado residents can enjoy far less inconveniences than inhabitants of many inferior beach towns.

Beyond the basics, Coronado also offers a wealth of options for shopping and other professional services.  There are 3 supermarkets (open 24/7), pharmacies, restaurants serving all types of cuisines, and a private medical facility.  Other businesses include a veterinarian, a health club, a dry cleaner, a home improvement store, and a Mailboxes Etc.

For families with children, there are 3 international schools in Coronado. There are also plenty of options for recreation, including tennis courts and a professional 18-hole golf course designed by the world’s top-ranked designer Tom Fazio.

Other amenities include pool and spa facilities, which are included with a resort membership.  There’s also an equestrian club for boarding horses.

It’s true what they say about location.

One of the most attractive benefits of Coronado, Panama, real estate is its easy access to…well, anywhere really.  It’s situated just a short distance off the Pan-American highway, making the drive to nearby Panama City doable in about an hour (a little longer on weekends or holidays).  As a result it’s easy quite easy to get to Coronado by way of Tocumen National Airport.

In addition to the airport, the Capital city also offers any retail solutions that residents aren’t able to find in Coronado, although the beach town now offers almost everything its residents could ever need.

In Panama City, however, the options are much more varied. There are 18-screen movie theaters, high-end boutiques offering brand name clothing, cultural offerings such as museums and art galleries, every type of cuisine imaginable, and a vibrant nightlife.  Between the two cities, residents would be hard pressed to find anything they lack.

Despite its well-developed amenities, Coronado maintains a small town feel.

Don’t be fooled by Coronado’s big city conveniences.  It’s still a relaxed beach town at heart.

The population is an eclectic mix of native Panamanians and expats from all over North and South America, the U.K., and many other places across the globe.  In fact Coronado’s expat community is Panama’s second largest.  Only Boquete has more immigrants.

The expat community, as well as the locals, enjoy a deep camaraderie and a lively social scene.  The town is welcoming to all foreigners, particularly the many North American immigrants.  English is also widely spoken.

Coronado is a great place to get, or stay, fit.

Coronado’s residents are generally very health-conscious.  Many grow their own fruits and vegetables, as well as spices for cooking.  Those who don’t can easily find fresh options to purchase from numerous street vendors.  There are also papaya, mango, and plantain trees everywhere you look.

Not to mention, there are plenty of options for staying active.  I mentioned the health club, golf, tennis, and water sports.  You can also find groups or classes for practicing yoga or meditation.  It also helps that practically everything in Coronado is within walking distance.   

Coronado, Panama real estate

Panama Realtor

Coronado Offers a Wealth of Real Estate Options

Obviously Coronado is a great choice for those who are looking for an upscale, turnkey property with loads of amenities for a reasonable price.  But thanks to its variety of housing options, it has something to offer buyers with all sorts of interests and at a wide range of price points.

For that first group, there’s Coronado’s central neighborhood, which is gated, guarded, and situated right next to the Coronado Police Department for added safety.  For the rest, there’s everything from efficiency apartments to beachside bungalows to sprawling villas on multiple acres.

Prices can vary greatly, depending on the amenities and location of the property, but there are smaller homes to be found in Coronado for as little as $250,000 (or less than that just outside of town).  While relatively expensive for Panama, this is extremely affordable by North American standards, especially considering you’re talking about a South Florida lifestyle on a Central American budget.

Some of the less central locations that offer great bargains include Punta Chame, Gorgonia, Santa Clara, Playa Blanca, and Farallon.  If you prefer a higher elevation (and a bit of a relief from the heat), there’s El Valle and Altos Del Maria.

Rental rates are also all over the board, with options as low as $700 or as high as $3000 for high-end properties in the most desirable areas.  You should also keep in mind that Coronado, like most of Panama, enjoys an incredibly low cost of living.  

Luxuries like resort memberships and domestic help are viable options even for those on a moderate budget.  For those who qualify for Panama’s pensionado visa, even those who aren’t near retirement age, there are even more savings to be had.

Coronado, Panama, Real Estate Outlook

Don’t be turned off by the fact that Coronado is an established destination that has already arrived.  With the area still growing at a rapid pace, there are still plenty of opportunities to profit from real estate investments, as well as new business ventures.  

New neighborhoods and communities have been popping up in the Coronado area, even within the past few years.  A few example are the Decameron Resort, Breezes, Nikki Beach, Buenaventura, Playa Blanca, Vista Mar, and Bijao.

Along with these new developments comes the need for more and varied retail establishments and other services, making the Coronado area a great choice for the entrepreneurial expat.  And with more and more expats continuing to settle there, Coronado, Panama, real estate still has plenty of room for appreciation.

Here’s What You Can Get for Your Money in Coronado

This is a great example of how much pricing can vary in an area, depending on what you’re looking for.  Here are some actual properties that are currently listed for sale in Coronado.

  • A mere $115,000 is the price of a 3 bedroom, 2 bath home in a gated community in nearby Las Lajas.

  • For $275,000 you can have a 3,000 square foot 3 bedroom, 4 bath apartment with an ocean view, a maid’s quarters, and only a short walk to the beach.

  • $375,000 buy you a 4 bedroom, 5 bath furnished condo on the golf course with two private balconies offering views of both the sea and the surrounding lush mountains.

  • In the same building, $650,000 will get you the 3 bedroom, 3.5 bath penthouse, which includes terrace with stunning wrap-around views and a lifetime membership to the Coronado Golf and Beach Resort.

Coronado truly has something for everyone: the beach bum, the sports enthusiast, the socialite, and more.  It’s just a matter of finding your niche.

And with such amazing natural beauty and some of Central America’s best amenities, there’s no better place to look.  See what particular piece of Coronado, Panama, real estate might be calling your name.

 

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2 thoughts on “Coronado, Panama, Real Estate: Not Just for the Elite

  1. 1

    je recherche une villa avec 2 chambres en location pour 4 semaines , début d’année 2016.
    si la région nous plait et qu’il y fait bon vivre , je rechercherais a acheter un terrain de 700 à 1000 m² meme en lotissement mais avec Vue Mer
    merci de votre réponse
    Louis

  2. Kyra Quarles
    2

    I am a REALTOR in SWGulf FL and have customers that own property in Coronado – within the gated community of the Coronado Golf and Beach Resort. They are thinking about selling and have asked me to assist them in finding an excellent agent. Recommendations?

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