What's the price of a home, condo or apartment in Coronado, Panama?

Coronado is generally one of the higher priced places on the Pacific coast in Panama. Most of that is because it's popular with both expats who want to live on the beach in Panama, and also with well-to-do Panamanians. The price you will pay depends on the type of home you want, of course.  You can buy a one-bedroom, two-bathroom condo in the Coronado community in the mid $200s and a three-bedroom. two-bathroom home in the low to mid $300s. If you want a huge home, of course...

Coronado is generally one of the higher priced places on the Pacific coast in Panama. Most of that is because it's popular with both expats who want to live on the beach in Panama, and also with well-to-do Panamanians. The price you will pay depends on the type of home you want, of course.  You can buy a one-bedroom, two-bathroom condo in the Coronado community in the mid $200s and a three-bedroom. two-bathroom home in the low to mid $300s. If you want a huge home, of course there are some up to the $1 million mark. That's a wide range, but there's a wide range of decor and home styles in Coronado. The price ranges reflect that.

Coronado is growing larger everyday, with several new developments, including subdivisions, duplexes, houses, and condo communities.  Prices cover a wide range, due to size, proximity to the beach, and type of property.  The town itself consists of a gated area which tends to hold prices a little higher on the inside of those gates as well.

 

Houses inside the gates typically sell for over $200,000.  Oceanfront highrise condo buildings...

Coronado is growing larger everyday, with several new developments, including subdivisions, duplexes, houses, and condo communities.  Prices cover a wide range, due to size, proximity to the beach, and type of property.  The town itself consists of a gated area which tends to hold prices a little higher on the inside of those gates as well.

 

Houses inside the gates typically sell for over $200,000.  Oceanfront highrise condo buildings offer apartments starting at under $200,000, and there are developments right now offering nice one bedroom loft units for $120,000.

 

You don't have to drive far outside of the town of Coronado to find condos starting as low as $60,000, but you do sacrifice space.  They are small, but ocean view.  There are many great developments within 15 minutes of Coronado where you will find great pre-construction deals with spacious apartment style condos priced from $122,000, and an older home in Nuevo Gorgona, just next door to Coronado, can be priced near $100,000.

 

Nuevo Gorgona is separated from Coronado only by a river, and living here puts you only 5 minutes from all of the amenities of Coronado.  Because of it's proximity to the city of Panama, and the new airport almost completed in Rio Hato, Coronado and it's surrounding area will remain a great place to invest, vacation, and live.

When I first arrived in Coronado, Panama 8 years ago, we bought a 3 bedroom, main and guest house, on 1,000 square meters (about a quarter of an acre) of assorted fruit trees, 3 blocks from the beach and across from the Coronado Golf Club for $75,000. There were many houses to chose from $60,000 up, and a few of the older condos that were rarely for sale and at much higher prices.

 

We resold that house after a $10,000 investment in 2 years for $143,000, and...

When I first arrived in Coronado, Panama 8 years ago, we bought a 3 bedroom, main and guest house, on 1,000 square meters (about a quarter of an acre) of assorted fruit trees, 3 blocks from the beach and across from the Coronado Golf Club for $75,000. There were many houses to chose from $60,000 up, and a few of the older condos that were rarely for sale and at much higher prices.

 

We resold that house after a $10,000 investment in 2 years for $143,000, and bought houses up to $150,000 that were beautiful, near the beach and with full time caretakers.  We flipped all within 2 years for a profit of minimum $50,000 and a brand new lowrise condo for approximately $100,000 with no 'fix up'  investments.

 

Now the prices are rising but many buyers want status quo prices, meaning that your profit margin is far less. That is true for the past 2 years.  With a new condo @Coronado Bay, Coronado, bought just 3 yrs old, @ $165,000 there is a profit margin of about $35,000 and more if appliances, aircons, fans and furniture, all in good condition are included.

 

Condos are very popular for the retirees coming to Panama, and Coronado offers great values with top-of-the-mark full amenities, including pools, lounging and social areas, gyms, saunas, game rooms, carpark, and 24 hour security starting at only $150 monthly fees and many still with the tax exemption of 18-20 years.  There is great value in buying in Coronado and on the coast from Gorgona to Playa Blanca.

In addition to other factors, in order to determine the price of real estate in Coronado, Panama, consider:

To give you an idea for apartments it can be around $214 per square foot and up for oceanfront buildings ($214,000 for a thousand square foot apartment).

 

But if you need a single family...

In addition to other factors, in order to determine the price of real estate in Coronado, Panama, consider:

To give you an idea for apartments it can be around $214 per square foot and up for oceanfront buildings ($214,000 for a thousand square foot apartment).

 

But if you need a single family home consider the land's price of approximately $12 per square foot (about $65,000 for an eighth of an acre) plus around $85 per square foot (about $170,000 for a 2,000 square foot house)  for construction and up, depending on your design.

Prices for homes in Coronado, Panama vary depending on where the property is located.  If property is located near the beach it will have a higher price than the one away from the ocean.

 

The average price of a 1,600 square foot house in Coronado, Panama with a 1/4 of an acre lot is about US $300.000.  This is for a 3 bedroom, 2 bathroom house, with living room, dining room, kitchen, terrace and small swimming pool.

 

...

Prices for homes in Coronado, Panama vary depending on where the property is located.  If property is located near the beach it will have a higher price than the one away from the ocean.

 

The average price of a 1,600 square foot house in Coronado, Panama with a 1/4 of an acre lot is about US $300.000.  This is for a 3 bedroom, 2 bathroom house, with living room, dining room, kitchen, terrace and small swimming pool.

 

You can find an 800 square foot 2 bedroom one bathroom apartment in Coronado, Panama for as low as $250,000. Again the price will depend on where the condo/apartment is located.

 

The ocean in Coronado, Panama it is very close to the properties. I will take you about 3 to 5 minutes driving to one of the entrances to the beach.

 

The prices I am writing about above are the prices inside the gated community of Coronado. But we can find lower prices outside of Coronado in places like Gorgona, Chame, Las Lajas, etc. In this areas prices can be 1/2 of the prices in Coronado itself.

There are not a lot of condominiums here in Coronado, Panama. At the reasonable lower end, you can buy a condominium unit for US $210,000 to $260,000.
 
For $260,000, you can buy a beachfront condominium unit with a rooftop pool and amenities. You will have 2-bedrooms, 2 bathrooms, and the size is about 1,184 square feet (110 square meters).
 
For $350,000, you can buy a 3-bedroom condominium unit with a huge balcony, and that will be about 1,830 square feet (170 square...

There are not a lot of condominiums here in Coronado, Panama. At the reasonable lower end, you can buy a condominium unit for US $210,000 to $260,000.
 
For $260,000, you can buy a beachfront condominium unit with a rooftop pool and amenities. You will have 2-bedrooms, 2 bathrooms, and the size is about 1,184 square feet (110 square meters).
 
For $350,000, you can buy a 3-bedroom condominium unit with a huge balcony, and that will be about 1,830 square feet (170 square meters).

 

The best thing about owning properties in Coronado is that the maintenance fees are so low. You will only spend $150 per month on maintenance fees for a 3-bedroom unit of 2,152 square feet (200 square meters). That includes everything - security, pool maintenance, elevators, etc.
 
In Coronado Golf (pictured above), where I own a condominium unit, the maintenance fee is $165 per month. We have beautiful amenities such as a rooftop pool, a ground level pool, Jacuzzi, gym and beautiful views of the golf course, the rainforest, the mountains, and so on.
 
You can also buy single-family homes in Coronado. If you have a $300,000 budget, there are a few choices. You may buy a house, 2 blocks away from the beach, with 2 bedrooms, 2 bathrooms but in a smaller lot which is about 8,611 to 10,764 square feet (800 to 1,000 square meters; up to about a quarter of an acre).
 
For $500,000 to $600,000 you can buy a 5-bedroom house on the golf course, which is about five blocks away from the beach.
 
Beachfront houses cost about $1 million.

Prices in Coronado tend to be premium because it is the hub of the Ex Pat community and has it all, the beaches, the shops, restaurants, bars etc.

 

However, the immediate towns, right next to Coronado, have lots to offer too!

 

Gorgona/Nuevo Gorgona sits on the same stretch of beach as Coronado (Playa Serena).  In fact you can walk from Coronado all around the bay to Playa Malibu in Gorgona.  The big difference is the cost in properties...

Prices in Coronado tend to be premium because it is the hub of the Ex Pat community and has it all, the beaches, the shops, restaurants, bars etc.

 

However, the immediate towns, right next to Coronado, have lots to offer too!

 

Gorgona/Nuevo Gorgona sits on the same stretch of beach as Coronado (Playa Serena).  In fact you can walk from Coronado all around the bay to Playa Malibu in Gorgona.  The big difference is the cost in properties is much less! 

 

If you don't necessarily want to be right on the beach, there are the small towns such as Las Lajas which is literally on the opposite side of the Highway to Coronado, being just a couple of kilometers away from the beach means the climate is markedly cooler, and not too far from the highway you have stunning scenery, mountain views and waterfalls, some real hidden treasures.

 

Opposite Gorgona on the other side of the highway again, you have similar properties to those in Las Lajas in Cabuya, again, large homes with large plots of land for a snip of the cost compared to Coronado but only 5/10 minutes away.

 

If the beach is still what you are looking for, price is not an issue, but you want something more exclusive, try the next beach along at Punta Barco, the home of the wealthy Ex Pats and Panamanians including many Diplomats, this is one of my favorite areas!

 

Coronado is definitely the hub, but it is not for everyone, so it is well worth looking at the surrounding areas.

The price of a home, condo or apartment in Coronado, Panama depends on many factors, including:

The prices range in general between US $200,000 to $600,000.

 

(Exception to the norm, beach-side multi-million dollar mansion, pictured above.) 

 

For example, a...

The price of a home, condo or apartment in Coronado, Panama depends on many factors, including:

The prices range in general between US $200,000 to $600,000.

 

(Exception to the norm, beach-side multi-million dollar mansion, pictured above.) 

 

For example, a $250,000 condo in Coronado would be about 100 square meters (slightly less than 1,100 square feet) and have two bedrooms and two baths. It is not in front of the ocean but it is a 10-minute walk from it. It is unfurnished and would be at least 5 years old.

A $250,000 home in Coronado would be a very small house that is not close to the beach area . It can be furnished or unfurnished and it does not have a pool or anything that is luxurious and fancy. The size would be 100 to 150 square meters (approximately 1,100 to 1,600 square feet).

For $400,000, you can get a bigger house or condo. You can get a three-bedroom condo of about 180 square meters (about 1,900 square feet) or a 400 square meter (about 4,300 square feet) home, which includes the open and closed areas and that has at least-three bedrooms. These condos and homes would be a little further from the beachfront houses (which are a lot more expensive); about a 10-minute walk from the beach.

To get a condo on the beach in Coronado, it would cost at least $350,000 for a two-bedroom unit that is about 150 square meters. Whether it is furnished or unfurnished depends on the deal. Condos on the beach have amenities such as pools.

A house on the beach in Coronado costs more than US $2 million. It is right on the beach and has four bedrooms or more. It is really big, around 1,000 square meters (almost 11,000 square feet) or larger.   Most of the beach houses in Coronado are big, what most people would call mansions. You don’t have any small houses in on the beach in Coronado.

In Coronado, Panama, you can buy one-bedroom, one to one-and-a-half bathroom apartment right on the beach for about US $200,000. 
 
As a real estate professional, I advise my clients to have an exit strategy. So when they’re buying something, I want them to consider what’s going to happen to help them sell it if that needs to happen, whether it’s one year, five years, or 20 years down the road.
 
Just like you heard so many times, location is most...

In Coronado, Panama, you can buy one-bedroom, one to one-and-a-half bathroom apartment right on the beach for about US $200,000. 
 
As a real estate professional, I advise my clients to have an exit strategy. So when they’re buying something, I want them to consider what’s going to happen to help them sell it if that needs to happen, whether it’s one year, five years, or 20 years down the road.
 
Just like you heard so many times, location is most important thing to consider when buying a home. The closer you are to the beach, the easier it’s going to be to sell. Being beachfront is not what everyone wants. But if you want to look at an exit strategy, having the proximity to the ocean and the ocean view will definitely help you when it’s time to sell.
 
You’re going to pay anywhere between $200,000 to 400,000 depending upon the size and the number of amenities that you get in your beachfront or ocean view apartment.
 
For $400,000, you could get a condo with approximately 1,500 to 1,600 square feet (about 140 to square meters), two to three bedrooms and two to three bathrooms. For amenities, you’re going to have 24-hour security, swimming pools and social areas. You’re going to have a gym, sauna, game room, and party room; everything you really need not just to live, but to really live well.
 
For properties off the beach, you can choose from properties that have an ocean view and those that don’t. Still in close proximity to the beach with an ocean view, with a 10-minute walk or 10-minute golf cart drive to the beach, you’re going to be right about in that same ballpark price, but you might get some more amenities. For example, you might be in the middle of a golf course. For people who play golf, that’s going to be ideal. 
 
When you go a little bit further away, let’s say you just have a slice of ocean view or you have no ocean view, you can definitely get more space or you can pay a little bit less. For that same $400,000 without an ocean view, all of sudden you’re talking about 3,000-square feet (about 280 square meters), three or four bedrooms, perhaps a house instead of an apartment. 
 
What we found, though, is that for many people who come and are looking at Panama as a retirement location, condos are the preferred place to stay because you can lock and leave. You don’t have to worry about anything. If you’re living part time in one country and part time in Panama, you just give the keys to your property manager, lock it, and don’t worry about it again until you’ve come back.
 
For $250,000, you would have several options. You could get an apartment, one or two bedrooms, with an ocean view. You could get a duplex with a couple of bedrooms. You could get a nicer apartment, maybe something with different amenities such as being on the golf course.

 

(Image of the entrance for Punta Vela Luxury Apartments, Playa Coronado, Panama, currently in re-construction stage, pictured.)