Panama Neighborhood Profile by Emergis Real Estate " Casco Antiguo
Go to: Previous Article Next Article
The 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 new interest in the area with the local government relaunching it as a must see to all tourists and expat residents in Panama.
For the ten year period starting in August 1997 and ending in 2007, 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 resulted in an increase of the investment activity in this area and have brought it back into the night and restaurant scene.
This area is characterized by predominantly French and colonial Spanish the architecture. The French influence dates back to the days of the Panama Canal construction and planning and the beautiful French embassy is still located facing the bay of Panama and overlooking the now world famous city skyline.
If you move to Casco Antiguo you will be surrounded by impressive buildings such as 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. For a exciting seven course meal, you can head to Manolo Caracol where they serve you whatever the chef is in the mood for. If you fancy Italian food with a homey, cozy feeling the all time favorite Mostaza is your spot. Other varieties in the Casco Viejo include 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 ideal. Its appeal to locals and tourists alike is unmatched in Panama City given its prized 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.
Article Source: Articlelogy.com
- Credit Cards A big selection of Cards in all flavors: Bad Credit Cards, Secured Cards, Prepaid Cards, Canada Cards, Low Interest Cards -
Word Count: 503
Reduce Your Debts Without Bankruptcy. See How Much You Can Save. Free Debt Analysis
