Coronado Panama has grown from the vision of its founder, the real estate entrepreneur Bob Eisenmann, to one of the most popular expat destinations in Latin America. The established infrastructure, solid reputation, and modern amenities that can be found in Coronado continue to be a magnet for expat retirees and investors looking for a Pacific paradise.
The Coronado region, as a whole, encompasses a number of smaller, rustic villages and barrios as well as the main community. The desirability of the area continues to drive the real estate market and provide several attractive options for turnkey properties and lots for development.
An Investment in Coronado, Panama Can Be Life-Changing
Coronado Panama is unique among other Pacific coast locations throughout Latin America in that it was planned and developed specifically to be a high-rise condominium community with modern resort amenities. As a result, Coronado has a well-established expat community that continues to attract new arrivals seeking investment potential and places to live or retire.
One of the biggest initial concerns that many had was the distance between Coronado and Panama City. The completion of the Pan American Highway has now made the connection between Panama’s capital and the beaches at Coronado an easy one-hour drive.
Unique Climate and Geography
Coronado, Panama is gifted with a rare meteorological and ecological aspect. Located in the “dry arch,” or arco seco region, less rainfall occurs here than in the rest of the country. Combined with the savannah-like geography, it is not surprising that the area became known as one of the earliest examples of planned agrarian culture in the Americas.
The earliest Spanish settlers recognized the potential of this land with the result that three major estates were created between 1691 and 1693. These estates would, ultimately, form the basis for the real estate registry in the region. As a result, Coronado and the entire region of Llanos del Chirú (to which it belongs) became an important part of the growth of Panama as a whole.
Just as in the Colonial era, the favorable climate and geography make living and developing here highly desirable. The established resort communities on the coast are a strong support structure for the new projects that are in the planning stage or are already underway.
Modern Convenience, Easy Access, and English Speakers
Getting to Coronado has never been easier. The Tocumen International Airport has regularly scheduled flights from many U.S. cities and arranging transfers to Coronado and the resorts is a convenient matter. Once there, new arrivals will be surprised by the modern conveniences that the community has. Shopping options, high-end restaurants and even a modern mall can meet just about every expat desire.
One of the most important features of this area is the number of established English-speaking expats who call Coronado, Panama home. Being able to communicate without finding someone to translate is a value added feature of life in this area.
Panama Wants You
Panama’s aggressive stance to attract foreign investors and expats looking for a new opportunity has resulted in a number of favorable changes to residency laws. Additionally, retirees qualify for many discounts on everything from entertainment to travel.
The tax benefits for foreign investors are also significant. For properties whose value is $100,000 or less, taxes are exempt for 15 years; between $100,000 and $250,000, ten years and, for values above $250,000, five years. Not having to pay taxes for an extended period makes the prospect of building your own Pacific paradise that much more appealing.
Buying to Invest or to Live – Many Opportunities Exist
The Coronado area goes beyond the principal resort and includes many of the small villages and farms along a 50-mile stretch of Pacific coastline. Finding development opportunities is an easy proposition as the demand for new residences continues to grow.
For those who desire a turnkey home that could double as both a vacation residence and rental income property, there are a number of options available both in the Coronado Beach and Golf Resort, as well as other communities that have sprung up in the region. The wealth of modern amenities makes for a terrific selling point that is only enhanced by the stunning black and white sand beach, a vista that is hard to duplicate elsewhere.
Price points are dependent on the size of the residence, the amenities, and, of course, the location. For example, rental rates can run the gamut from $700 per month to upwards of $3000. With that kind of range, life in Coronado can fit almost every budget.
Not everyone is interested in resort-style living. For those, the surrounding fishing villages and smaller towns offer the ability to immerse oneself in a more rustic lifestyle. Accordingly, prices for homes and lots in these areas are more affordable than the higher-end residences in the resort communities.
Adventurers desiring to follow in Eisenmann’s footsteps will find a large selection of lots that can be purchased for immediate development or held onto as part of an investment portfolio. The Coronado area has rebounded nicely from the financial crisis of 2008 with the result being that property values are steadily climbing, but still affordable.
Changing Your Life Can Be Priceless
Bob Eisenmann’s vision could be summarized in what is widely regarded as his last wish for his dream project: “Creating from the heart, no matter what the cost.”
Embracing Coronado Panama as a place to form your future can present the opportunity to rediscover the magic of building a new life. Begin this quest by visiting Coronado; explore the region and see for yourself why living here is truly a matter of the heart.