After the news that the second largest shopping mall will be built in Costa del Este, the occupation rate and sales in commercial and residential sectors have significantly improved here.
Housing prices in Costa del Este during the last two years have being rising at faster pace than in other areas, such as Balboa Avenue or Punta Pacifica, where they almost haven’t changed.
Commercial and office space is now sold at $2,400-2,600 per sq. meter and that is mostly still at the construction stage.
Atrio Mall, the second larger shopping center to be built in Costa del Este will improve the quality of life in the district. Residents of the area will have everything they need, with no need to go to the downtown. Restaurants, services, hospitals, shopping, everything will be here in walking distance.
Luxury residential towers, such as Ocean One, Aqua Two, and Murano, all located on the first coast line in Costa del Este and prices per sq. meter start here at $2,400 presently. This is considered an average price for the area, while the prices can go up to 3,500 per square meter (examples: Vallery Point). On average, price here are higher than in any other part of the city.
The buyers come from all over the world, but mostly they are rich and middle-class families from Venezuela, or often top managers from multinationals established in Panama. Such companies as Procter&Gamble, Copa, Addidas, Phillip Morris significantly improve demand for high-end real estate. It is expected that future prices will continue to grow in Costa del Este, however most of developers are now focused on commercial real estate here.
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