If Panama’s Gold Coast were a sports team, Playa Coronado and Gorgona would be the two MVPs.
When deciding which MVP you want to be rooting for (i.e investing in)- you need only answer these questions:
1. Are you looking to move in, or strictly to invest?
and (if you choose #1):
2. Are you looking to move now, or later?
Sounds too simple, right? How could such an important decision boil down to two questions?
Because while Coronado and Gorgona may be batting for the same team, they’re not exactly starting on the same base.
But first, let’s rewind. Why narrow it down to The Gold Coast in the first place?
After all, there are other options. Surely you’ve heard rumors of tempting properties all around Panama. Why rule these out?
Well, most people rule them out for the same reasons I did.
I’m a real estate professional, representing one of the largest and most reputable brands in the country.With hundreds of stunning high-rises to choose from, I could see- even 10 years ago- that the Gold Coast was where I wanted to be.
With all my options, I demanded the Gold Coast because I knew two things:
1. The Gold Coast would (and did) become a red-hot real estate market.
2. The Gold Coast is the best place to live, work, and raise my family.
Those that come to me to buy real estate range from high-level brokers to mid-income North Americans. Though armed with different budgets and priorities, the vast majority end up buying in Coronado or Gorgona.
Here’s how they decide between the two.
Playa Coronado is Best For:
Anyone looking to move into their new property within the immediate future.
OR
Anyone looking for a low-risk, high-luxury investment- and can handle the price that accompanies a proven track record of growth and desirability.
Playa Coronado is- bar none- the most sought-after beach real estate in the country. Judging by my waiting list (and my experience in international real estate) I would venture to say it’s the most-wanted in Central America.
Advantages of Playa Coronado
Just 60 minutes outside Panama City, Coronado is Panama’s most luxurious, modern, and well-equipped beach community.
Residents of Coronado (myself included) have more shops, restaurants, and supermarkets than we know what to do with. We’re rarely bored, given our 18-hole golf course, equestrian center, illustrious “black diamond” beaches, and fun-loving expat community.
We also prize our brand-spankin’-new medical clinic and prestigious international school (of which my children are happy students.) Coronado is also considered the safest place to live in Panama.
Residential options in Coronado are also superior. Lavish high-rises such as Coronado Golf offer chic apartments and resort-style amenities. In fact, units at Coronado Golf are in such high demand that the developer, Empresas Bern, is building a sister tower alongside it.
Disadvantages of Playa Coronado
Real estate prices are higher in Coronado due to its high level of international interest. A luxury condo still costs less than if it would in say, California or Florida, but when compared to less developed beach towns Coronado is both top notch and top dollar.
Coronado is also not as sleepy as it once was. For foreigners, it’s the place to relocate and retire. For Panamanians, it’s the place to see and be seen on the weekends. This comes with the benefit of having an established expat and executive community, but it also means you’re more likely to be sharing the beach.
Bottom Line:
Coronado is a turn-key, high-luxury option that is ready now. You could show up tomorrow and be surrounded by everything you want and need- a convenience that’s built into the prices.
Or, you could invest now and have a foothold in the one market in Panama that has proven to be increasingly lucrative- and with no signs of slowing down (you can take the upcoming “Coronado Golf II” as evidence to that!)
You get what you pay for! And with Coronado, you get it all.
Playa Gorgona is Best for:
Those planning on moving to Panama in the next few years
OR:
Investors who want to get in early on a rapidly developing area
Playa Gorgona is an up-and-coming beachtown just 50 minutes from Panama City and 10 minutes from Coronado. With pristine beaches that merge into fluorescent mountains and grassland, Gorgona is one of the most stunning beaches in Panama.
Until now, Gorgona has remained virtually untouched, making it rich with both beauty and opportunity.
Advantages of Playa Gorgona
You know what Playa Gorgona reminds me of?
Coronado. 5 years ago.
Those who crave a luxury beachfront property close to Panama City, but are reluctant to pay the premium prices of Coronado, are perfectly suited for Gorgona.
Currently, the area is short on facilities and sky-high on potential. The sleepy streets of this beach town offer little more than quaint houses and the occasional sandwich shop. Walk along the beach and you’ll find miles of footprint-free sand, velvety mountains, and a few scattered tiki huts.
Inspired by its beauty and close proximity to Panama City, high-profile developers have taken interest in the Gorgona area. One of them is Empresas Bern, currently building Royal Palm- an absolute beachfront, resort-style development- upon Gorgona’s shores.
Just as Empresas Bern’s Coronado Golf and Bay buildings played a large role in transforming Coronado, Royal Palm’s impact on Gorgona will follow suite. Already, a Gorgona shopping mall is under construction, more roads are being paved, and security is beefing up.
It won’t be long before this sleepy beach town is a thriving and modern community.
Disadvantages of Playa Gorgona
Gorgona is still under development, which poses the accompanying lifestyle costs. Neighborhood commercial facilities are virtually nonexistent, sending current residents down the 10-minute road to Coronado to stock up and socialize.
Safety can also be an issue. While I’ll personally frequent the beaches during daytime, I would avoid doing so after dark. There is also an obvious trash problem, as locals lack the education to not litter the streets.
Granted, this will change- particularly as the Royal Palm project progresses. Besides Royal Palm offering its own security force and private highway entrance, Empresas Bern is implementing a street clean-up program and providing proper trash infrastructure to keep the area clean.
Small steps, I know, but indicative of the changes underway, and what is possible when a major developer like Bern takes interest in an area.
Bottom line:
Gorgona is a soon-to-be replication of Coronado- without the premium price tag (yet.)
Would I live there? Not today. It’s not quite ready yet. But would I invest there, with the confidence that in the next few years it will mirror Coronado’s growth?
Absolutely.
Which is Right For You?
Honestly? I have no idea. Without knowing you, your plans, and your priorities, I can’t tell you whether Gorgona or Coronado is right for you.
What I can tell you that each community is phenomenal in its own right. These two MVPs of Panama’s Gold Coast will continue to raise the bar for luxury living by the sea. And when you’re ready to take a look at either of them more closely, I’m happy to be your guide.
Hi Liz,
My name is Eric and I recently began following everything I can lay my eyes on when it comes to the Panama’ Gold Cost (Playa Coronado, Playa Gorgona, and even …Playa Caracol – might sound too futuristic now) I see Playa Caracol as Playa Coronado 10-12 years ago. The reason I look too far in the future is because I plan our move there in 2029 after reaching my retirement age. I’ll definitely visit Panama before that, probably number of times. I love reading your articles which I find very informative and I enjoy them very much. I was wondering if you can email me future housing projects there and your thoughts/advice in general. I would love to chat with you via WhatsApp one day if possible. When time comes, I am pretty sure I’ll be working with you down there.
Many thanks,
Eric
Hi Eric! Great to hear you are doing your research, it really is important, but the best way is to come to visit the country and really get a feel for it. You are right, this area is growing and changing and in 2029 it’s possible that Playa Caracol, while a little remote now, gets much more developed. The only beach projects I have at the moment are in construction, but I’ll be sure to let you know of any future developments so you can keep your pulse on what is happening here in Panama’s Gold Coast! Liz
Thanks Liz, I appreciate your response. It would be great if you can keep me posted on any future housing developments in Coronado, Gorgona and Caracol. My email address is ebadalov13@gmail.com, just in case. There is a possibility that we, my wife and I, will be visiting Panama some time in November of this year. It would be nice if we could meet for an hour or two while we are down there. How would you like me to contact you if that’s the case and how long in advance should I do it?
Thanks, Eric
Hi Eric! Send me an email to liz@empresasbern.com and keep me in the loop on your travel dates. Cheers, Liz
Hi Liz, we booked a reservation and will be available in Panama from Dec 7 until Dec11. Would be nice to get together on one of those days. Let me know what you think. Thanks, Eric
Hello
I will be in the area for only 2 days, the 1st and 2nd. I believe I would be more interested in Gorgona or another place on outskirts of Coronada. I have a daughter in high school and I have no idea how much international school costs. Could you show us around on one of those days. We would love to see some places. I would love to do a bed and breakfast. My son is a welder/fabricator/construction in California and wants to live here. We have a small budget (say 200k max) and could get something with potential for fixing or building. Acreage is always a plus but proximity to the beach and location is key. would love to know if there is something that would fit our needs. please contact me by email or on whatsapp, 805-296-2945. Thanks!
hi there Shauna! I’ve sent you an email with some information!
Wondering what there is now in the way of food Markets or grocery stores in Gorgona?
Hi Veronica! Gorgona has some mini supermarkets inside the town, and on the highway, however the main grocery stores are a short trip away in Coronado. There is also new Gourmet Deli supermarket in the Las Terrazas mall in between Gorgona and Coronado, which has some basics and a nice selection of gourmet treats!
Hi Liz. I enjoy your articles very much. My wife, five year old daughter and myself intend to life in panama in the very near future. I am eligible for a pensionado visa, but not my wife , and considering the age of our daughter we need to be close to a reasonably priced international school as well as being reasonably close to an airport and good medical facilities. That being said, we’d prefer to be mostly amongst the Latin culture and not surrounded by so many expats that it feels like we haven’t really moved !! Beach front, or walking distance is a high priority and we intend to rent for the first year to see how we adapt. I have researched several areas of the country but keep ending up in the Coronado/Gorgona area. I’d appreciate any insight you could offer.
Hi Bruce, Thanks so much for your message, it sounds like you have done a lot of researh on the subject. The Pacific beaches area inside which the Coronado and Gorgona communities are could be a good fit for you – within 30 minutes of Coronado there are many smaller beach side towns and developments which are very lovely but with a lower concentration of expats, but not too far from the facilities of the more developed area or the city if need be. There are a few reasonably priced international schools, like 5 Stars in Santa Clara or the Coronado Interntional School. Renting first is a good idea – many people arrive in Panama with one idea, but after a while discover that they want the complete opposite of what they had planned!!! Good luck with your move!
Hello Liz,
I’m looking for an investment home that will turn into my retirement home (later) and would love your advice.
Hi Phyllis, thanks for your message, I’ll be in touch via email! In the meantime, you might like to read my Panama v Costa Rica article 🙂 Liz
Liz,
Another great article. I agree with your assessment. I also planned to wait for a tad more growth in Gorgona. I was looking at the Royal Palm, but did not realize it was not ready. Please keep me in mind. I secured a location in Pedasi for the near future, but will be waiting to be part of Playa Gorgona.
Again, thank you for your detailed assessment.
Royal Palm is well under way for construction now, which is very exciting 🙂 Check out my newsletter for updates on progress, or shoot me an email on lizl@empresasbern.com and I’d be happy to answer any questions you have about the Royal Palm development.
Can you send me more information about high rise condos being developed in Gorgona?
Thanks for following my blog, Scott. Gorgona is definitely the up and coming place at the beaches. And Royal Palm is the newest expat-friendly project that I’m representing in Gorgona. Check it out, if you haven’t already.