Panama, Casco Viejo, Casco Antiguo
Interesting article about Cartagena, Colombia`s colonial town. Because it started its revitalization before Panama`s historic district of Casco Antiguo, it is probably one of the best cases to show the path of evolution of historic real estate in the region. For those of you who have followed prices and trends through Arco`s blog and listings in Casco Viejo, I`m sure you will find this reading extremely interesting. One of the easiest things to compare is always the price range per restored mt2. Qualities being similar, Panama`s Casco Viejo is still between $2500 to $3000 (in the case of commercial spaces and some really special homes) per mt2, while in Cartagena for a similar level of restored home is difficult to find a product below $5000 per mt2. A lot of this value rocketed when hotels like the famous Santa Clara “hit town” and opened doors in Cartagena. Similarly, Panama is about to experience the same dynamics with all the hotels opening doors at the ends of 2013, specially the American Trade Hotel.