The value per square meter in the Panamanian colonial settlement has almost doubled in
the last 10 years.
The restoration of the `Casco Antiguo` (Old Town) of Panama, which has received
investment and economic boom in the city has made property prices soar.
There are about 900 buildings and houses in the area. During the last 10 years, the value per square meter has increased from $1,500 to $1,800 to over $2,300 and $3,000.
Depending on the view and location commercial premises for rent are priced between
$35 and $50 per square meter, and those for sale range from $3,500 to $4,000 on average.
Preliminary statistics from the Casco Antiguo Office outline that there are 14 hotels
and lodging places, more than 39 restaurants and bar establishments, 13 arts and crafts
galleries, 7 real estate offices, 2 companies dedicated to tourism services and 11 establishments used for professional activities, such as architects, graphic designers, painters as well as many
social foundations.
Casa del Baile originally had a dancing court on the first floor which grants it the name,
`The Dance House`. It is a two story brick building with magnificent balconies overlooking
the street. It has three large arch shaped openings to the street allowing the residents to
absorb the vibrant atmosphere of Casco Viejo.
Casa del Baile is in prime location, right in the heart of the touristic center of Casco Viejo,
within the World Heritage Site of UNESCO.
Calle Boquete is a very small street between Calle 8 and 9.
There are two houses, one on each side of Casa del Baile; Magnolia-Inn (a beautifully
renovated landmark corner building), and on the others side, a bar and distillery. Across
the street, a new beautiful boutique hotel is in its final construction stages.
Major attractions of Casco Viejo are just a few steps away, for example; Iglesia de la
Merced, Plaza Herrea, Plaza de la Independencia, hotels (American Trade Hotel, Tantalo
Hotel etc), restaurants, museums, nightlife etc.
Easy access in and out are also available due to its location near Ave. Central.
This building is offered for sale with a pre approved project plan.
The approved plan to maximize the potential of the building includes: 2 commercial spaces on the street level, and 6 apartments. In addition, the plans are approved by the local UNESCO heritage office.
Full building potential is: 1362 Sq Mtrs.
Historic regulations require that the facade be maintained / restored
Residential building for sale in Panama City
Panama City
House with flats • ref: Casco Viejo
$2,200,000
Spaces
Garages (outside)2
Surfaces
Land1362 m²
Balcony
Lift
Swimming pool
Terrace
Panama City
The agent has not provided the exact address for this property. You can request it here.
City view
TypeHouse
Construction year1900
Panterra
Ave Balboa Bicsa 4106