Suppose you’re interested in investing in Miami real estate, but various issues are causing you to think twice. Maybe it’s the high prices, Miami’s crime situation, the crowds, or other issues. Costa del Este, Panama, is a place that may offer an attractive alternative.For good reason, many consider Costa del Este the Central American version of Miami. It is one of the most luxurious neighborhoods in Panama City. You’ll also find amenities that rival any area in Central America. It has a dining, shopping, and entertainment scene that would make a city like Miami proud. The best part is that you can enjoy all that for a fraction of what you would pay living in Miami.

Exploring Costa del Este in Panama

Panama’s Millionaire’s Row

Costa del Este has an opportunity to become Panama City’s version of Miami’s Brickell neighborhood. Brickell is commonly known as “Millionaire’s Row” among locals. It was once home to some of the poshest mansions in Miami. In the late 20th century, it transformed into the city’s financial center. This coastal area is now dotted with mixed-use skyscrapers housing corporate giants and the people who steer them.

The Costa del Este neighborhood of Panama City has similar qualities. It was developed in the mid-1990s. Costa del Este is currently the second most expensive neighborhood in Panama City, trailing only Avenida Balboa. Brickell encompasses an area between Downtown Miami and the Bay of Biscayne. Costa del Este is adjacent to the financial hub of Downtown Panama City and Panama Bay. This proximity to the waterfront makes both places ideal for high-end real estate investment. The proximity to the downtown financial hubs makes living in these neighborhoods convenient for business professionals and executives. Many are willing and able to pay a premium to live in these luxurious neighborhoods.

What Makes Costa del Este a Viable Investment Alternative to Miami?

Miami and Panama City are blessed by being on the coast and having tropical climates. Both have modern infrastructure and amenities. They are world-class international cities with diverse populations and financial hubs for their regions. Both even have artificial islands off their coasts. For over a century, Fisher Island has been one of Miami’s most exclusive getaways for the wealthiest people. Not far from Costa del Este is Ocean Reef, two artificial islands offering the highest end of upscale living. Ocean Reef is often called Panama’s Fisher Island.

However, several compelling reasons exist for considering investing in Costa del Este over Miami. Real estate in Miami is among the most expensive in the United States. As of this writing, Miami is the third most expensive city in the US but only the 123rd best place to live. Miami real estate is also prone to wild fluctuations. There can be very high peaks but also the risk of very low valleys.  Purchasing property in Costa del Este will be considerably less expensive. It combines a lower investment with the proximity to places of work and entertainment. With these factors, Costa del Este offers the potential for a strong return on investment. This is especially true when compared to investing in Miami as an alternative.

Costa del Este Offers All the Best Features of Miami

Do you want to own property in a city with a tropical climate? Check. Do you want to own property in a neighborhood conveniently close to downtown business districts and an international airport? Check. Do you want to own property in a pleasant neighborhood with parks, shopping, dining, and nightlife? Check.

Costa del Este offers everything great about Miami’s quality of living at a fraction of the price and without much of Miami’s baggage. Here are some of the top reasons to consider Costa del Este aside from real estate prices.

• Urban Planning: Many of Panama City’s neighborhoods have had modern urban planning retrofitted into them. Costa del Este is the first Panama City neighborhood to be planned literally from the ground up. Underground cables provide high-speed internet and electricity. Palm tree-lined sidewalks, parks, broad avenues, and a clean environment will remind people of the nicest neighborhoods in Miami.
• Walkable: One of the benefits of well-coordinated urban planning is how easy it is to get around without needing a car. The wide sidewalks and parks make walking in the neighborhood easy and pleasant. Costa del Este has a large central park. The Paseo del Mar is a bayside promenade popular with joggers, cyclists, and dog owners.
• Shopping and Dining Options: Costa del Este has many shopping and dining options. Never needing to leave the neighborhood for anything other than work is a realistic possibility. Shopping options include small malls and plazas to boutique shops and markets. There are several restaurants to choose from, along with multiple cafes and bars. It took a while for the nightlife to gain steam in Costa del Este, but there are currently several nightclubs. A night on the town in Costa del Este will rival anything you’ll experience in South Beach.
• Travel and Business Amenities: Panama City has regional headquarters for several Fortune 500 companies. Many people working at those firms find living in Costa del Este the perfect location due to its proximity to their offices. Additionally, Tocumen International Airport is under nine miles from Costa del Este. Tocumen International Airport is the “Hub of the Americas,” with nonstop flights to more than 25 cities in the US. It also covers several European cities, including Paris and Madrid.

World Class Amenities Is Costa del Este

What truly makes Costa del Este comparable and even preferable to Miami is the long list of amenities. It takes the quality of life from good to amazing. Costa del Este’s food scene, from brew pubs to fine dining. The nightclub scene keeps revelers entertained well into the night. You also have enough shopping options to satisfy the most discerning of tastes.

Dining

• Los Años Locos: Opened in 1995, this family-owned restaurant specializes in local fair and empanadas, mouth-watering steaks, fresh seafood, and refreshing spirits.
• Blue Moon: This unique taphouse offers signature beers and appetizers. It is the perfect place for a casual dining experience.
• Trescalini: Come here for delicious empanadas, cocktails, and casual outdoor seating.
• Athanasiou: This café is perfect for pastries and breakfast.
• Austin Mama’s Brisket: Mama’s is the place for American expats hungry for a taste of home. The succulent barbecue will make you feel like you’re back stateside.

Nightlife

• Mantra Bar and Lounge: Live music, signature cocktails, tapas, and a vibrant atmosphere make this a must-stop for an exciting night.
• La Rana Dorada: This cool brew pub offers beer brewed in-house with apps and cool merch. It’s a great place to hang out if you want a laid-back evening with friends.
• Sama Sky Lounge: This rooftop bar provides picturesque views of the city and the bay while serving amazing cocktails. It’s also an excellent place for music and dancing.

Shopping

• Town Center: This shopping center offers everything from high-end shopping to a movie theater and a fitness center.
• Atrio Mall: With dozens of shops and restaurants to explore, you can find what you need. High-end boutiques and name brands can all be found here.
• Star Plaza: Conveniently located, Star Plaza offers high-end boutiques and quality food options.

An Amazing Place to Live 

Costa del Este is one of the premier locations in Panama City. People who live and work here say it reminds them of Miami, and they compare Costa del Este favorably to it. This neighborhood has a lot to offer. That’s true for expats looking to relocate and investors searching for new real estate opportunities.

The Agency Panama is here to help in that search. Click here to connect to our team and use our experience and expertise in this neighborhood. We will find the perfect place for you, no matter your needs.

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