Back in the 1940s, Coronado wasn’t much more than a few ranches scattered alongside the beautiful and unspoiled stretch of the blue Pacific. However, today the situation is a little bit different. These days this little city is the most popular beach town on this coast of Panama. For years it was a getaway for locals that were in need of some sun exposure. But, recently it has boomed even more with the forming of a nice expat community. So, the question that poses itself here is: why are so many people moving to Coronado?
The reasons are many. Starting with the remarkably low rainfall it receives every year, and going all the way to being on just a half an hour drive from Panama City. Today, we’ll dive into a few of the main reasons why people are moving here. And those are:
- Retiring in Coronado
- Enjoying the lifestyle
- Low cost of living
- Accessible Panama homes
Retiring in Panama
Retiring simply has to be the first on the list of why so many people are moving to Coronado. The reasons for this aren’t that hard to find. It’s a perfectly suitable place.
The Pacific Ocean will be at your doorstep and all the beaches are clean and white. There’s an abundance of malls and golf courses. Plus, supermarkets sell all the things you love back home. Add to that a nice community of expats and what more do you need to leave the city and move to the beach?
Retirees are often worried about the climate, so they’ll be glad to hear that here, the situation is ideal. Usually, average high temperatures are around 85F and as we already mentioned, there’s hardly any rain. So, you’ll have all the time you need for many activities you can take part in here.
The Coronado lifestyle
As you might expect, the lifestyle in Coronado is generally described as laid back. At the end of the day, this place has been a resort enjoyed even by the Panamanian elite for years. The weather and the accessibility of the amenities certainly contribute to all of this. So, you just can’t feel anything but comfort here.
The locals are very friendly and the majority of them speak English. Therefore, even if you’re moving here from distant parts of the world you won’t have any trouble finding your way around.
It’s worth mentioning that because of all expat residents, starting a business here can really pay off. Even if you do it short-term. It’s practically an ideal place to open a restaurant or a bar and then serve the people that came here in the same fashion as you.
Coronado, Panama real estate
By now, we’ve covered two of the main reasons why so many people are moving to Coronado, but what about buying your first Panama property?
The first thing you need to know is that much of this town lies within a large gated area that is dominated by the Coronado Es Vida development. This is why all new property purchases, and some resales, come with a membership to an exclusive Coronado Golf Country Club. Although you will have to pay an activation fee, plus $200 a month, you’ll get a lot in return. Endless green fields, a beach club, tennis courts, a spa, a gym, exclusive restaurants… You name it.
Types of Panama homes
You can expect to find anything from high-end luxury condos to cozy and affordable resale homes available for purchase in Coronado. If you want to find cheap Panama real estate for sale, there is a trick. Try to get as close as possible to neighboring Gorgona. You probably won’t be able to get a beachfront property, but pretty much all the houses and condos here are just a 5-minute walk from the ocean, so it pays off in the end.
Let’s look at some clear examples of what we’re talking about. A three-bedroom, two-bathroom condo in Gorgona (a 10-minute drive from Coronado) will set you back for around $160,000. Buildings with condos like these usually aren’t big and apartments come furnished. You may get an ocean view and a pool for this kind of money, but it’s not a beach property.
On the other hand, a one-bedroom, one-bathroom condo in an oceanfront building in Coronado Bay with all the same amenities as the one we’ve just talked about will cost you around $180,000. So, the location is highly valued here.
Renting in Coronado
Although it’s not that expensive to buy a property here, and although you can transport your furniture with ease and enjoy your own space, some people that want to experience the Coronado lifestyle would rather skip the buying part. And for them, we’ve got another option – renting.
It may sound strange, but it’s a perfectly viable option. Many of us are working from home anyway nowadays. So, why wouldn’t you move to the beautiful beach away from all the stress and pay as much for rent as you do back home, if not even less?
Cities are densely populated and living in one in tough times like these can make us feel a little bit down. Moving here would be a giant relief, trust us. Think about it, try it for a few months and who knows. You may be staying for good after that.
Cost of living in Coronado
The last thing we want to talk about is the cost of living. We’ve talked to lots of expats and pretty much all of them say that compared to their home towns, the cost of living here is low.
Retirees are especially glad to have all the discounts that the pensionado visa gets them. And when it comes to younger residents, they are usually pointing out that eating out is cheap and that cleaning services are inexpensive. Therefore, the average expat, or even a couple, can live very nicely with a budget of around $2,500 a month. This includes all the amenities like rent, utilities, high-speed internet, and cell phone services.
So, it seems that the conclusion about why so many people are moving to Coronado is the combination of all these reasons. Excellent climate, affordable real estate, and low cost of living. What more can you ask for?
Meta: Do you know why so many people are moving to Coronado, Panama recently? Is it the climate, the low cost of living, or cheap real estate? Read to find out.