A Day in Panama City Panama

Part 1 in an Adventure on How to Safely Invest in Panama Real Estate

Three years ago if someone had suggested investing in Panama I would have laughed and thought they were crazy. Like most people I knew little of Panama. To the best of my memory it was a small country, somewhere in Central America, with a canal for shipping and I recalled talk of a dictator roaming about. A personal ‘wake up call’ precipitated by a family crisis and then followed by some internet research changed my life and my knowledge of Panama forever.

My journey began as I prepared my apprehensive family for a different kind of vacation. We removed our jewelry, left our "nice" clothes behind, donned our backpacks and boarded a plane in Toronto. Less than 5 hours later we landed in Panama. Something had to be wrong! There was no stop-over and the time was the same. How could this world away be less than 5 hours, non-stop from Toronto and in the same time zone?

After arriving at the international airport in Tocumen we drove along the modern toll highway (Corredor Sur)into the city. Reaching the point where the highway is built out over the ocean, I looked to my right and noticed the ruins of Panamá Viejo. On a later trip I arrived at night and enjoyed a special treat as the site is lit by flood lights and looks quite impressive and beautiful in contrast to the modern condominium towers of Punta Pacifica, directly in front. Our whirlwind adventure began with a hotel stay, in the heart of Panama City, for just over $50! Close by we noticed all of the night life and modern conveniences of any major city. It really was as modern as Miami, just as we had heard - too bad we left our nice clothes and jewelry behind! And where was this "Third World Country" we had been led to be afraid of? Although the city was busy and the drivers pretty crazy it reminded me of many other older big cities - Montreal, Rome, and Paris.

Rich pre-Colombian heritage of native populations stretching back over 12,000 years is still evident in the art and artifacts. The Spanish Colonial period combined with some French influence is most obvious in the architecture. The protective fort walls (circa 1673) still stand along the edges of Casco Viejo – the direct translation means 'Old Helmet' which is quite appropriate considering it was a location chosen for it's ease to defend. Prior to Casco Viejo the city was located to the north east. This is 'Panamá la Vieja' although it is commonly referred to as Panamá Viejo. Panamá Viejo was founded in 1519 by the conquistador Pedro Arias de Ávila, better known as Pedrarias. In 1671 the city was sacked and burned to the ground by the notorious Welsh pirate Henry Morgan. There really is little left beyond a few ruins but it is certainly worth a stop or drive by. Casco Viejo by contrast is a small city within the city and we spent a number of hours here during the day returning again for some great dining at night. It's a mixed bag and the area is definitely in transition. You find old buildings with peeling paint right next to beautifully restored ones. It is quite reminiscent of New Orleans with narrow streets, cafes, restaurants and even a jazz bar. My favourite sights included: the Church of the Golden Altar (Iglesia de San José); Plaza de la Independencia (the plaza where Panama declared it's independence from Columbia in 1903); Plaza de Francia, Plaza Bolívar, the area around the Palacio de las Garzas, and the Flat Arch (Arco Chato). It was lovely walking around.

Although we didn't have any problems at all, Casco Viejo is known not to be the safest part of the city. However, like anywhere I found using common sense kept us out of any trouble. Also, there were plenty of tourism police around and that added a touch of comfort. Returning at night I really felt more comfortable being dropped off in the plazas. To end the day we discovered one a real treat and now one of my favourite restaurants in Panama - Manolo Caracol on Avendia Central y calle Tercera.

I’ll catch up with you tomorrow as we explore more of Panama City. Hasta Luego!

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