Page last updated: 05/17/12

Looking at Casco Viejo

Saturday - September 06 - 10:59 PM Filed in: Panama

The plan when we moved to Panama was to rent and “test drive” the various living options available. Location (city, country, mountains) and the type (high-rise, low-rise, condo, single family home) - we saw no advantage in rushing and wanted to give ourselves a reasonable shot at finding something (somewhere) that meet most of our criteria. The only thing that has happened so far is that we’ve pretty much ruled out a high-rise - just not our thing.

For Casco Viejo we are doing three things simultaneously (not the ideal, but it’s the reality of this particular place). First, trying to decide if this is our type of living - weighing the plusses and minuses of living in a area that is undergoing a major renaissance but has quite a way to go. Next, can we find that “perfect” place (size and location, mainly). Lastly, can we afford it!

Here in Casco Viejo we’ve looked at several properties (condo apartments) and have found some options that MIGHT work. Right now it’s just a case of seeing what’s available, so we’re even looking at places outside our price range - a “home tour” of the neighborhood, if you will. We’ve seen primarily “loft style” units, but did find a two bedroom today. The quality of the restoration work I’ve seen so far has been pretty good. With developers doing some pretty creative stuff with these old buildings. If Casco is our choice, there is one thing for certain - it will be smaller than what we had on St. Croix.

Overall, it’s difficult to grasp the real estate environment here (compared to the slump in most U.S. markets) because the inventory is very low, resales are almost nonexistent, and most units are being sold during “pre-construction” before you have anything tangible to look at. So we will just keep looking, try not to rush, and see what tomorrow brings.

Take care.

Tags: Casco Viejo