Panama Neighborhood Profile "Casco Antiguo"
(toprealestateguide.com) One of Panamas first top class neighborhoods, Casco Antiguo, was once the most sought after neighborhood where the rich and prosperous lived. As more neighborhoods developed in Panama such as Bella Vista, el Golf and now Costa del Este, the mansions of yesteryear were left and forgotten. Recently there has been a renaissance of the area with the local government relaunching it as a must see to all tourists and expat residents in Panama.
Starting in August 1997, for ten years the government provided incentives to invest in properties and businesses in the area such as tax exemption on real estate transfers, preferential interest rates and tax exemption on income for businesses in the area which positively impacted the investment activity in this area and have brought it back as a happening night spot.
This area is characterized by predominantly French and colonial Spanish the style. The French influence goes back to the days of the Panama Canal original construction and planning and the beautiful French embassy is still located sits in the bay of Panama and overlooking the now world famous city skyline.
While visiting or living in Casco Antiguo the must visit attractions are the National Theater, the Panama Cathedral, The Presidency of the Republic, the Ministry of Foreign Affairs and the Ministry of Government and Justice all housed in beautifully renovated colonial buildings. The name Casco Antiguo comes from the importance that this area had in colonial times. This is where the town center was and from this point the city expanded and grew into what it is today.
As preivously mentioned this is also a night spot. There are several options in the Casco Viejo ranging from the all time favorite Mostaza for Italian food with a homey, cozy feeling, the always exciting Manolo Caracol where they serve you whatever the chef is in the mood for, Platea an eclectic jazz bar and its accompanying restaurant Scena. After enjoying the meal you could head to the famous Grandclement ice-cream parlor where you can enjoy home-made artisan French ice creams that among the best in the country, if not the region.
If you would like to invest in establishing boutique hotels and restaurants this area is the perfect setting. Its appeal to locals and tourists alike is unmatched in Panama City given its prime location right by the sea. Supply and demand, will ensure a real estate investment in this area will appreciate significantly for the following decades, as there is only so much land that is so close to the sea and is completely urbanized in a peaceful and residential setting with so many amenities close by. For those that like the urban life however, you may be better off making a property investment in Costa del Este or Punta Pacifica or even one of several other neighborhoods profiled by Emergis Real Estate, your Panama City, Panama property specialists.
About the Author:
Emergis Real Estate is a Panama professional services firm specializing in Panama Real Estate. Our creative methodology allows for the profiling, scheduling and visiting properties available in Panama through collaboration with direct sellers and other intermediaries in the Panama Real Estate market. For more information about Emergis Real Estate and moving to Panama please visit our website.
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Original Source: toprealestateguide.com
Date Retrieved: June 4, 2009.
