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El Cangrejo; a Cosmopolitan Flavor to Living in Panama
Perhaps the trendiest Panama City neighborhood is el Cangrejo (the crab). This downtown barrio is just off Via España. In el Cangrejo you are walking distance from banks, beauty parlors, book stores, car rentals, casinos, clothing stores, dentists, grocery stores, hotels, internet access, massage parlors, movie rental stores, movie theaters, office supply stores, realtors, lots of wonderful restaurants, and the University of Panama. If you would like to live in a cosmopolitan area in Panama pick el Cangrejo where well to do Panamanians rub shoulders with North Americans, Europeans, Asians, and other Latinos.
El Cangrejo has always been the upscale, interesting area in downtown Panama City (El Centro). With the flood of North American retirees, second home buyers and younger expatriates moving to Panama, El Cangrejo has acquired more of a cosmopolitan flavor. Whatever your interests and needs they are within walking distance in el Cangrejo. Deep sea fishing, scuba diving, and surfing are excluded. For these activities we recommend that you can head up to Veraguas Province and Coiba National Park.
When you have surfed to your heart’s delight come back to el Cangrejo for Italian food by a Milanese chef at Restaurante Saltimbocca or authentic Panamanian fare at El Trapiche. Patio Mexicano has great steaks. The list goes on.
Real Estate in El Cangrejo
A sample of current el Cangrejo real estate for sale includes a 121 square meter “loft” for $266,000. This construction project on a small park is due to finish in December 2008. Another pre construction offer for $216,000 is a 125 square meter apartment with two bedrooms, two bathrooms, and parking for one car.
A 124 square meter three bedroom, two bathroom el Cangrejo apartment is renting for $1,125 and being offered for sale for $185,000. A 167 square meter three bedroom, three bathroom apartment is going for $285,000.
All of these real estate properties are within easy walking distance of all the kinds of services listed above. El Cangrejo is full of sidewalk cafes. The same cafes have air conditioning inside if that is your preference. Come and look at real estate in el Cangrejo, either for rental or purchase. You will find a central location and an ease of living that will make you want to stay.
Business is booming in Panama, the Central American country that is the location of the Panama Canal. Panama is a crossroads country with world trade passing through the Panama Canal and Latin American trade passing up and down the Pan American Highway. As Panama’s economy expands so do Panama real estate investment opportunities.
Panama has the highest rate of foreign investment per capita of any Latin American country and is investing heavily in its infrastructure. This degree of investment in real estate and otherwise, high levels of employment and a free market economy in a democratic country provide ideal circumstances for investment in Panama commercial real estate.
Whether in upscale el Cangrejo or real estate on either coast Panama real estate is fairly priced. Panama is a beautiful country with easy residency requirements and a pro business government.
Commercial real estate investments are all over Panama. The small business owners in el Cangrejo and elsewhere need retail and office space. As an example the shipping container business in and around the Panama Canal needs warehouse space. Come to see us at ABPanama. We have over 23 years experience managing real estate portfolios. We can find you an apartment in el Cangrejo and a commercial real estate investment across town.