Panama Real Estate Investment Travel Information


Panama's First Beach Town, Coronado

(12 votes)

Written by Ari Vanook

Wednesday, November 07 2007

Coronado evolved as Panama's first developed beach town. It sits conveniently about forty five minutes to the West of Panama City, via the InterAmerican Highway which, compared to other highways in Central America, pretty much takes the cake in terms of quality.

The entrance to Coronado is marked by a small shopping center which hosts a Subway sandwich shop, various knick knack specialty stores, and El Rey, a grocery that would not be out of place in a developed US city. Coronado's convenience is perhaps its greatest asset seeing as though only the neighboring town of Gorgona offers a closer beach within distance of the city.

The beach in Coronado is second-rate. Besides not having the most family-friendly waters (in terms of tides and current), the sand is dark and much of the coast appears to have been marred by various side effects of large scale real estate development. The shores of Coronado are also dotted with tall condo buildings akin to any sub-par beach community in Florida. Compared to the beach in Santa Clara (only forty minutes further), Coronado is not nearly as nice

A handful of Coronado's real estate is made up of dated-looking towers with peeling paint and dreadful aesthetics. Also pervasive are single-family homes which can vary from low end to super deluxe. The area's private mansions are eye-catching yet very few of them are for sale or rent due in major part to the disinterest of their wealthy owners. The actual roads near the beach are poorly-kept and pot-hole ridden.

There are several real estate developments in Coronado, most of which flourish because of the market advantage of low supply in the area. There are also several hotels which cater to foreigners and see high occupancy rates, independent of the service they offer which is oftentimes sub-par.

Prices for real estate in Coronado are arguably (and some say unjustly) higher than any other similar beach area in Panama. Not only is its appearance quite ordinary in the world of tropical beach towns, but many feel that Coronado's prominence will experience a monotonous descent with the construction of so many new similar-looking condo towers. However, said projects like Coronado Country Club routinely sell out all their units before construction has even begun: a terrific opportunity to buy low and sell high.

Fishermen still call Coronado (and closely surrounding areas) home and it is still possible to reap the rewards of their trade on beaches where spiny lobsters or fresh sea bass can be purchased straight from the source. Local restaurants catering to the upper class also acquire fish this way, but the majority of these establishments are hit or miss.

There is a small guarded gate at the mouth of Coronado where visitors must check in and residents swipe through. The guards are not terribly choosy about who goes in and out which sort of defeats the purpose all together.

On weekends and holidays, Coronado fills up with locals and foreigners alike, many of whom spend time drinking local beer in the street and relaxing on the beach. Residents split time between poolside barbeques and jaunts on the beach. The views from tall towers are spectacular; endless ocean views to the front and jungle vistas to the rear.

Some call Coronado home base for weekend trips to El Valle or other nearby low-key tourist attractions. Its immediate neighbor to the West is Punta Barco and Punta Barco Autentico which is exclusively home to the nation's most impressive beach houses. Just outside of such opulence, on the highway one can find less-affluent farmers and vendors selling small bags of beans for fifty cents.

Conclusion: Coronado as an investment or travel destination is somewhat unremarkable. It has been the impressive host and beneficiary to Panama's first beach boom and has maneuvered the stream of playing it safe to a tee. It's proximity to the city is second to none, it's infrastructure is more advanced than almost all other beach towns in the nation, and a good portion of residents are Panamanian (nice to see in an increasingly expatriate-founded growth).

It is the closest thing foreigners associate with "developed beach town" which, for better or worse, has kept it affront of the pack. The good thing is that whether you like it or not, you haven't wasted much time getting there.