4 Projects that Can Boost the Beachfront Real Estate Market in Panama

There is no doubt that Panama is one of those few countries in Latin America where you can have the perfect lifestyle mix, you can enjoy all the amenities of an international city, and you can go relax in one of those beaches that are just about an hour and a half away.

For a quick getaway from the city’s busy urban lifestyle, there are several touristic destinations for about an hour away from Panama City, these famous beach locations have gone through a substantial real estate development in the last decade, the coastal area where Coronado and its neighboring beaches are, now have a great deal of shopping, entertainment and even medical centers available for the community.

For sure there is a great value on the actual finished beachfront properties in these areas, but besides its own development, what can make these properties more valuable in the long term will be an easier and more expedite access from Panama City.

Here we will show you 4 infrastructure projects going on right now in Panama which have the potential to add value of current and future beachfront rental properties:

Beach corridor

The beach corridor (in Spanish “Corredor de las playas”), is a infrastructural road project currently being under construction that goes from Chorrera City to San Carlos District, which is the area close to the most popular beaches on the pacific coast of the country.

This project aims to ease the traffic of most people going from the capital to the country’s interior cities, which now, the only way is going through the highway intersecting several cities and towns on the way.

4th Bridge Over the Panama Canal

Currently under development, the 4th bridge over the Panama Canal will be built right next to the Bridge of the Americas (Puentes de Las Americas), which is the bridge which goes out from Panama City to the west side of the country. This bridge also aims to ease traffic congestion to the interior cities of the country and it will be connected through the North Corridor (Corredor Norte), so it will allow users to go, for example, from Tocumen Airport to the west region of the country going around the capital and by avoiding the traffic of going through the city.

Line 3 of Panama Metro

The 3rd line of Panama Metro will start from the Albrook Mall metro station (from currently operational Line 1) to Arraiján, its main goal is to benefit those residents from West Panama who commutes to work to the capital, but together with the extension project of line 2 to the airport, it will also benefit those users and visitors who want to go directly from the airport to beach resorts in the country’s interior region.

New terminal of Tocumen International Airport

The new terminal of Tocumen International Airport aims to expand their passenger’s capacities and bring more tourists with the goal to increase local commerce, jobs, and income generation. It also expects new first-time tourists coming from new markets, because of new airlines setting operations, aiming for more employment generation and economic development for the country.

While right now is currently closed due to the actions taken to fight the COVID-19 pandemic, when the new airport terminal is fully operational again, it plans to increase passenger traffic from 16 million of passengers per year to 25 million or even more in the next 6 years.