Residential Land for $24 million in Veracruz

The Administrative Unit of the Reverted Properties in Panama has announced the availability of three plots for residential use which are 25 minutes from Panama City.

Tuesday, July 24, 2012

Veracruz, located approximately 25 minutes from Panama City is known for its beaches, on which there are small sized ranch style restaurants where you can get fried fish for $3 to $5 and beers for $ 0.60

It is an economically attractive area in front of the site which was once the U.S. base Howard.

The properties opposite and overlooking the ocean which are located in Veracruz and Majagual are economically attractive as real estate investment for several reasons:

- The properties in this area of Panama offers beautiful ocean views and beaches at a distance of the city that can be traveled daily. The trip may take 25-30 minutes to downtown Panama City and only about 15-20 minutes to get to Balboa Panama, which has everything a person could want for daily life.

- The former U.S. Air Force base Howard which is located opposite the area of Majagual and Veracruz, and the former Rodman Naval Station recently received legislation to become a free zone for trade for the Pacific.

- Also, a resort area is being constructed on the road to Veracruz and Majagual, about 10 minutes from the current area of Majagual. The resort is being built by InterContinental Hotels Group (IHG), the largest hotel company in the world, global, and Empresas Bern, the largest operator group of hotels and tours in Panana.

More on this topic

Panama: Auction of Lots for $2.2 million

July 2015

The Reverted Property Unit will be auctioning lots in August for residential or commercial development in Gamboa, Margarita, Davis and Espinar, in the Atlantic sector and in Farfan and Ancon on the Pacific.

From a statement issued by the Ministry of Economy and Finance:

New Development Plans for Panama West

June 2015

The growth experienced in the area has led to the Unit of Reverted Properties to postpone the sale of lots in Amador and Sherman in order to update development plans anticipated in that area.

It's not just the projected fourth bridge over the canal and the convention center being built in Amador, but also the future Metro Line 3, which connects the east of the city with the districts of Arraijan, Capira, Chame, La Chorrera and San Carlos.

Increased Demand for Reverted Properties in Panama

October 2013

Up until August, $41 million was registered from the sale of reverted real estate and it is estimated that by the end of the year, the amount will rise to $80 million.

The money was obtained from the auction of properties that were returned to the country as part of the fulfillment of the Torrijos-Carter treaty signed in 1977.

Sale of 16 Acres Just Minutes From Panama City

August 2012

The Administrative Unit of Reverted Properties has announced the sale of Plot PS01-5 in Altos de Batele, on the Pacific coast, at approximately $38 million.

The land is located just minutes from Panama City, south of the entrance to the Canal, near the Panama Pacífico Special Development Zone.

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