Home Real Estate Tips Restoration process in Casco Viejo
Restoration process in Casco Viejo

How is the restoration process in Casco Viejo

Casco Viejo is one of the most Interesting Touristic places in Panama.
Known as Casco Antiguo or the San Felipe district, is the most colorful part of Panama City. UNESCO declared it a World Heritage Site in 1997. It’s a city within the city, and one from a different age. It’s a great place for a walking tour. You can wander down narrow brick streets, sip an espresso at an outdoor café, visit old churches, and gaze up at wrought-iron balconies spilling over with bright tropical plants. It has an unusual blend of architectural styles, most notably ornate Spanish- and French-influenced buildings.
The Casco Antiguo was founded in the 17th century, when the city moved from the sector today known as the “Old Panama” to San Felipe area. The "therapeutic" process that is being used in the restoration process is the same already successful process used in Old Panama and Portobelo.


Casco Viejo has always had a romantic look, but for decades the romance has been of the tropical-decadence, paint-peeling-from-rotting-walls variety. Now, though, it’s in the midst of a tasteful and large-scale restoration that’s giving the old buildings new luster and has turned the area into one of the city’s most fashionable destinations for a night out. Elegant bars, restaurants, and sidewalk cafés are opening. Amazingly, this is being done with careful attention to keeping the old charm of the place alive. In some places the district now resembles the French Quarter of New Orleans. It also looks very much like a smaller Cartagena. Unfortunately, the renovation is squeezing out the poorer residents who’ve lived here for ages.
Two years before, the British pirate Henry Morgan devastated the original capital, founded in 1519, the first Spanish city on the coasts of the recently discovered South Sea, "sighted" by Vasco Núñez de Balboa in 1513.
Recover the “Casco Antiguo ", a neighborhood of three avenues and 14 streets, in ruinous condition due to the abandonment of the wealthy class, during the 40s and 50s of last century, and invaded by People without a place to live in the 60s, is one of the principal aims of the current administration.

The transformation that the Casco Viejo of Panama has experienced in the last years is surprising. In spite of being the place where there were always located the Presidency of the Republic and other important buildings, such as the National Theatre, the Department of Government and Justice or the Bolivar Lounge. The families of the capital middle class that occupied the Big Houses of the old neighborhood, Since they moved from the city to the rocky peninsula called The “Sitio de Ancón” in 1673, decided to leave their properties during the first decades of last century. As consequence of the abandonment and later "Recovery", the neighborhood, called also San Felipe, lived its worse years. Today, the recovery and valorization of the Casco Antiguo is evident. And Even though not all agree with the results of the process, the successes are undeniable. Approximately 20 years ago were few the ones who where devoting themselves to the restoration of historical places. Today the market has grown and the Casco Antiguo has turned into the excellent masterpiece. Among the different buildings that are being restored, we can mention the Casa Cural of The Mercedes Church, the Calle las Monjas building, San Felipe Neri Church as well as the conservation and protection of the Metropolitan Cathedral.
The cost of these art pieces can reach the million dollars as it is the case of the restoration of the San Felipe Neri Church, while the residential buildings can have a minimal intervention of 150 thousand dollars or reach the million dollars, “depending on the size of the lot and kind of masterpiece. This work requires a lot of experience, even more when there are no documents that show the records of the buildings. Is like performing a surgery without knowing the cause of the illness. Many people are interested in the Casco Antiguo. There are properties with an historical unique value and restoreing is the key to return to the place It’s romantic shine lost that remained buried with the colonial epoch.

In 1997 It is issued Law decree 9 of August 27 which aim was to establish a special regime of incentives for the restoration valorization of the Casco Antiguo of Panama. Four years later the Legislative Assembly approved the project of Law 45 that reforms previous decree. In this reform an indemnification was included for the families that were removed from the Casco Antiguo, establishing a scale of 5 thousand dollars for those who had more than 40 years residing in that place, 4 thousand dollars for those who had from 30 to 40 years residing, 3 thousand dollars for those who has lived there the last 20 to 30 years, 2 thousand 500 for those who had lived there 10 to 20 years, and 2 thousands for those who had lived there less than 10 years.
Panamanians and foreign families are being attracted by the romantic and colonial shine of the Casco Antiguo they have turned it into a favorite place to live. The old houses that 100 years ago belonged to aristocrats families of the country later became tenement houses, during various years they have been an interesting market.

Those who take part actively in the business of restoring and selling real estate in that area, assure that the market is maturing. They admit that it is not a question of a massive offer, since the news that is being listened is very poor. Nevertheless, silently, restructuring projects become millionaires.
The prices of some Houses are high and are compared to those who exist in Punta Pacifica or Punta Paitilla, In a way, thanks to the fiscal incentives that exist for the investment In Casco Antiguo. The restored square meter ranges between 850 thousand and 200 dollars.

Hoses in Casco Antiguo are really expensive because it was declared a World Heritage by the UNESCO, and to restore properties that have more than 132 years old, is not a cheap proposal.
Of 940 properties that exist in the sector, 747 are private properties. Of these, they have only achieved to restore approximately 70 houses. In the last years they did no make major investments because It was lived a stage of speculation in which many people devoted themselves to buy and sell without restoring.

Nevertheless, the business is changing and accommodating gradually.
Americans, Frenchmen, Dutches and Canadians have been buying properties.

But a topic that has been difficult to resolve, is the search of the original owners of the properties.
Even with the makeover, Casco Viejo is not the safest part of Panama City. There’s no reason to be overly concerned, but use common sense. If you’re a tourist and you’re going to take a walk, try not to look like a foreigner. Don’t wear shorts, fanny packs, Hawaiian shirts, and be discreet with the cameras and maps. Don’t go dripping jewelry and dressed in expensive clothes. Don’t wander around at night, and be cautious on deserted side streets or when venturing beyond the major activity hubs (Plaza Bolívar, Plaza de la Independencia, and Plaza de Francia). In particular, at night avoid the block of Calle 4 between Avenida Central and Avenida B, as well as the area around Parque Herrera. The decay and the renovation work present their own hazards: Watch out for foot-eating potholes, missing drain covers, and so on.
However, the neighborhood is well patrolled by the policía de turismo (tourism police), who cruise around on bicycles and are easy to spot in their short-pants uniforms. They’ve been trained specifically to serve tourists, and they’re doing an impressive job. It’s not unusual for them to greet foreign tourists with a handshake and a smile and offer them an insider’s tour of the area or help with whatever they need. Visitors have reported many pleasant encounters with them. Don’t hesitate to ask them for help or directions. Their office is next to Manolo Caracol and across the street from the Ministerio de Gobierno y Justicia (Avenida Central between Calle 2 Oeste and Calle 3 Este, tel. 211-2410 or 211-1929).

Trackback(0)
Comments (0)Add Comment

Write comment
smaller | bigger

security code
Write the displayed characters


busy