What Being “Close To Coronado” Signifies

Some call it a bit of an obsession, but I think it’s merely keeping up with my profession.

I constantly haunt and study the real estate listings from all over Panama.

I can always tell you what is happening on Balboa Avenue in Panama City, even though I almost exclusively work with beach properties. I know if it’s really good on Balboa Avenue (which it is) it’s also good along the residential resort communities that spread out from the city along the Pan-American Highway and the Pacific Ocean.

It is just as important for me to know what the rest of the country is doing in terms of land development. Panama is a physically small country, but it is the heartbeat of the financial world in Central America. I know I always need to be totally prepared to be an authority on Panamanian real estate for my clients. They shouldn’t have to do all the research. I should.

Positioning For Sale Property

What I find most intriguing about the various listings from the ever-growing group of real estate agencies, is how they position the properties they are selling.

“Steps from restaurants and night life.” “Turn key oceanfront luxury.” “All upgrades in a high floor luxury condo.” “Quiet living.” “THE address in Panama.” “Close to Coronado.”’

[thrive_text_block color=”light” headline=””]When I read these descriptors all I can think is, why would you want to he “close to Coronado” if you could be in Coronado? And, along with Coronado comes oceanfront luxury, high floors, quiet living and THE address![/thrive_text_block]

Not Lounge Chair Appropriate

panama-city-panama-liz-larroquette

As most people know, Panama City really doesn’t have a beach area, because while the city abuts the Pacific Ocean, the land that would be a beach is subject to very wide tide swings and almost exclusively large inhospitable rocks. It’s stunningly beautiful to look out over the ocean from the many high-rise buildings that dot the city’s skyline, but it’s generally not bathing suit and lounge chair appropriate.

[thrive_text_block color=”light” headline=””]So for people who seek a true beach lifestyle, Panama City is not a preferred location. The closest beach area is just over the Bridge of the Americas, approximately 15 minutes from the heart of Panama City.[/thrive_text_block]

Casa Bonita is the closest residential complex with a true beach. It is coupled with a five-star hotel, a world-class spa, multiple pools and restaurants. The development is cut from the Panama Canal rainforest and it overlooks the Canal with a constant queuing of boats awaiting transit.

With it’s Mediterranean-Greek architectural design, the residences are showstoppers, but it is difficult to call Casa Bonita a true “beach community.” It’s more like a suburban resort of Panama City.

Resort Driven Lifestyle

Pearl Club Pool, Casa Bonita

Casa Bonita is perfect for a certain clientele which is often times foreign investors, individuals who work in the city and people who like a resort driven lifestyle. Imagine living where hotel room service is always available and the groceries are picked up by your employee because the closest food market is in Panama City and the traffic over the bridge can be a nightmare!

Nonetheless, if you are looking for a true beach community, your next closest spot will be about an hour from Panama City. There are properties springing up like wild flowers in Nueva Gorgona, an up and coming location which currently doesn’t have the infrastructure to support the coming population. Roads are rudimentary, public transportation almost non-existent and locals living off the ocean, de rigueur.

True Beachfront Living

Developments in Nueva Gorgona, such as Royal Palm, offers true beach-front living and is very much a family focused, fun-in-the-sand type of place. It caters to locals and North Americans who are looking for beach get-aways at a very attractive price. I totally understand why real estate in Nueva Gorgona advertise “close to Coronado” and why this area will be the perfect choice for many buyers. It has a lot going for it and eventually it will be one of the most convenient and developed locations along the Pacific Ocean, but practically speaking that infrastructure is years away. Currently, one of it’s biggest selling points is that it is “close to Coronado!”

[thrive_text_block color=”light” headline=””]When I read these descriptors all I can think is, why would you want to he “close to Coronado” if you could be in Coronado? And, along with Coronado comes oceanfront luxury, high floors, quiet living and THE address![/thrive_text_block]

The Beauty of Coronado

The beauty of Coronado is that inside the gates, you find the community feel, while just outside the gates you can easily access 24-hour full-scale groceries, pharmacies, veterinary services, world-class health care, banks, hardware stores and high-end restaurants offering seafood, Spanish, Asian and Italian cuisines, sushi, steaks and open-fire cooked poultry and pizza, along with low-cost fondas.

Coronado is more of a true residential area than a vacation spot. Of course, inside the gates, you have the 18-hole Tom Fazio Golf Course, an equestrian club, a tennis center, an old-school Beach Club that reflects the family-centered nature of the Panamanians and a first-class hotel with several restaurants, including one that regularly offers white table cloth service and live music by talented musicians at a baby grand piano.The Beach Club joins in the sophistication with monthly “Full Moon Dinners” which have four-course offerings, complimented by another baby grand performance.

There is something to be said for great food, spirits and interesting conversation, while letting the sand fall between your toes while the ocean gently rolls in and out.

Limited Property Developments

Needless to say, there is limited real estate development opportunities within the gated portion of Coronado. The first tower to offer residences was Coronado Golf, a 33-story complex that is well-established and has only a few remaining options for purchase. However, joining Coronado Golf, along the 18-hole golf course, is Punta Vela, another 33-story option.

Punta Vela has harnessed four decades of experience by Panama’s premier developer, Empresas Bern, and emerged as one of the most thoughtfully designed concepts in all of Panama. The oversized balconies capitalize on the stunning views of the surrounding mountains and the magnificent Pacific Ocean. Every residence enjoys an open-concept floor plan where the gourmet kitchen flows into a living and dining area. The master bedrooms enjoy floor-to-ceiling vistas along with ensuite bathrooms. One- to three-bedroom layouts are available and many units can still be combined for an even larger residence.

No Shortage of Amenities

There is no shortage of amenities. A 25-meter lap pool sits atop the building along with social areas for residences and a spa with steam rooms and jacuzzi. On the fifth floor, an infinity pool marries the beauty of the surroundings with the serenity of the building. The project is simply spectacular.

[thrive_text_block color=”light” headline=””]Unlike Nueva Gorgona, Coronado is ready for the new residents of Punta Vela. In fact, their arrival will simply improve the existing infrastructure and offerings. The roads will be better maintained, the wine shops will offer greater varieties, new restaurants will open and cultural programs will more fully develop. Coronado is perfectly positioned for these luxury residences and their arrival is essentially a win-win for everyone.[/thrive_text_block]

Be Inside Coronado

While there is something to be said for being “near Coronado” given the price and opportunity for investment at Royal Palm, or the opulent life-style of Casa Bonita, it is certainly exciting to actually be inside the gates of Coronado. For a few, the opportunity currently awaits.

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