The Reverted Areas or former Canal Zone is comprised of 5 miles on either side of the Panama Canal. These areas pertained to the United States until their turn over along with the Panama Canal to Panamanians in December of 1999.
The Reverted areas were home to numerous military bases and residential areas for canal zone employees and their families and have excellent US-Style infrastructure and all the conveniences of a suburb. Homes with yards, lots of green areas, mature trees and parks, schools, medical and vet clinics, grocery stores, banks, churches, post offices, movie theaters, a shopping mall, domestic airport and bus terminal, and very quick and easy access to and from Panama City. Basically everything that one could need for everyday living.
Since their turnover to Panama, the reverted areas and former canal zone, have become a favorite area for both foreigners and locals alike to make their homes.
It is not uncommon to see such wild life in the area as parrots, nieques (Agouties), armadillos, white taled deer, monkeys, anteaters and coatimundis.
Investment Pros:
- The reverted areas have great infrastructure including US-style roads, homes and sewage systems.
- The reverted areas are just a few minutes from downtown Panama City.
- They are an excellent place to raise children, as most of the homes in these areas have ample yards, and also for the abundance of parks, green areas, and schools.
- There has been a great deal of investment into these areas including: The City of knowledge, the new US Embassy and Consulate, various residential developments, marinas and new businesses including tourism based businesses.
Investment Cons:
- There are very few homes and even fewer building lots available in the Reverted Areas
- As a result of the lack of availability of properties, asking prices are usually fairly high, and difficult to negotiate.
