Top 5 Richest Neighborhoods In Panama City
Panama is home to many rich and affluent neighborhoods. There are rich neighborhoods with single family homes and there are new districts with shiny 50 story apartment buildings. Panama City has a mix of housing stock. The city has grown significantly in the past decade, and you’ll see a lot of new residential developments. Real estate developers have created whole new neighborhoods.
Panamanians have a word yeye which refers to a rich person or belonging to a rich person. Wealthy Panamanians are also known to talk with “la papa en la boca” which translates to a potato in your mouth and they’re known to mix a lot of English words instead of just using the Spanish equivalence.
Panamanian slang lesson aside, now that we’ve got the lingo down for the rich and affluent, let’s take a look at the top 5 richest neighborhoods in Panama…
Costa del Este
Panama City’s growth has been rapidly climbing for quite some time now and Costa del Este has become a homebase for big, international corporations such as P&G, Estee Lauder, Samsung, and more. Due to these companies’ presence, the area has become a very trendy hotspot for restaurants and luxury real estate projects. You’ll see lots of retirees and older expats in Costa del Este.
You’ll find plenty of exclusive, gated communities as well as skyscrapers worth well over a middle-class budget. And the difference is very in your face as soon as you get to the Costa del Este entrance. It’s one of the few places in the city with subterrain cables and spacious sidewalks. The rest of Panama City is not really pedestrian-friendly but in Costa del Este, it’s a whole other story. As for safety, it is relatively safe, you’ll find people jogging even after dark without any worry.
Costa del Este is very strategically placed, with access to the airport within 10 mins and to the center of the city in about 20 depending on traffic. Also, great vistas of the Panama Bay from most buildings. Much of the best real estate is near the water.
The running joke about Costa del Este is that even though it’s thought of as high-class, it was actually built over a landfill.
Town Center, Costa del Este
Coco del Mar
There’s lots of history to this particular first-class neighborhood. Some of its homes date back to the 1930s. Panama’s wealthiest have been living here for years including ex-presidents and foreign ambassadors.
So what can you expect to find in Coco del Mar?
Million-dollar family homes with gardens, terrace, and pools, as well as high-rise condos with stunning ocean views. There’s not really much to while walking around. This very exclusive residential area is close to Panama La Vieja and only a few minutes from the downtown area. It’s known to be a quiet, clean residential area but traffic can be a pain during rush hour.
Views from a Coco Del Mar condo
For some of the rich and wealthy, it’s not all about the city buzz. Some enjoy a mix of nature and urbanism… making Clayton the perfect place for them. Clayton used to be a military base so a lot of the homes are American styled. There are also modern condos and smaller apartment buildings as well. It’s located further out after Albrook Mall in front of the Miraflores Locks.
Clayton is the preferred neighborhood for families. It’s home to prestigious schools as well as “The City of Knowledge”, grocery stores, banks, restaurants, parks, you name it…
Clayton is a really safe area which is also a plus for those with kids. Education is also top-notch with a loth of American styled schools being based here. These schools tend to follow the American school schedule rather than the Panamanian one.
The only down-side to living in Clayton can be sometimes unwanted wildlife in your backyard or the high price for delivery. There are a lot of restaurants in the area, however, because it’s a known affluent zone, delivery charges can sometimes go through the roof.
Outdoor activities in Clayton
Looking for views of the Pacific Ocean? Punta Pacifica is a millionaire’s playground. This luxurious neighborhood is within close proximity to upscale shopping malls and it’s also where you’ll find exclusive, high-end homes and condos. To give you an idea, rent for a 2-bedroom, 2-bathroom apartment starts at around $3000 a month.
Punta Pacifica caters to a younger, rich demographic but you’ll also find just plain old wealthy families here. It’s also a neighborhood with a low crime rate.
Opposite Punta Pacifica you’ll find la crème de la crème in Ocean Reef Islands. They are the first man-made islands in Latin America composed of 137 residential lots, an exclusive private residential marina with its Yacht Club, helipads and more.
Helipads included, Punta Pacifica is bona-fide luxury
San Francisco is a well-known rich folks’ area. Over the years however, crime has spiked here. A lot of drug-related people purchase high-end property here and so it’s become less safe in the last couple of years.
Nonetheless, it’s still a luxury hotspot with plenty of restaurants, food trucks, bakeries, cafes and more. San Francisco’s main attraction is Parque Omar, one of the biggest parks in the city. Tons of events are held there, from outdoor concerts to Zumba classes and kickball games.
In San Francisco you’ll also find that while it’s home to the rich, rent is a lot more affordable than Punta Pacifica for example. You could find a 2-bedroom apartment here for about $850 a month. Of course, that number climbs depending on the level of luxury you’re looking for.
San Francisco is not the quietest place to live due to the number of businesses in the area, it’s never a dull moment in this part of the city.
Relaxing views of Parque Omar
Panama City is not as affordable as it once was. As it’s gained popularity as the Hub of the Americas, property prices have gone up, which means that the rich neighborhoods will only become even more exclusive. Panama City is stable and safe.
As you can tell from the list above, Panama has several options if you’re looking for luxury, you just have to know where to find it. If you want to learn about more high end Panamanian cities, next take a look at Boquete and Coronado. Panama was a lot of wealthy people and beautiful neighborhoods.
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