Property CityEl Cangrejo

El Cangrejo

El Cangrejo is one of Panama’s coolest and most desirable neighborhoods.

Introduction

Firstly, the neighborhood is in one word eclectic. The variety of coffee shops, ethnic restaurants, funky old buildings, towering new condos, and office buildings give it plenty of character. All of which make it a very vibrant neighborhood.

Amenities

Many consider the area to be one of Panama’s best walking neighborhoods because of the close proximity amenities. For example, the 24-hour grocery store (El Rey), gyms (Power Club and Sportek), banks, pharmacies, and restaurants.

There are several parks in El Cangrejo, with the largest being in the middle of Via Argentina.  The area is the preferred site for many local concerts, art exhibitions, and community fairs. Local restaurant favorites include Angel Restaurant for Spanish fare, Le Mar for Peruvian themed seafood, Rincon Habano for Cuban cuisine, and the ever-popular Del Prado and Café Manolos for their local Panamanian menu.

Schools

There are several popular schools located in the area including La Salle Academy, la Universidad Interamericana, and UMECIT.

Real Estate

Apartments for sale in the area range from large, older condos to new, modern living spaces. Within the last five years, Marquis, Cangrejo 507, Onyx, Kubik, Park City, The Forum, Medeteraneo Loft, plus many more been delivered.

In the last three years, prices in the neighborhood on newer construction have consistently hovered within the $1400-1600 per square meter range.

Generally, older buildings in El Cangrejo tend to be priced below that range. But many do not have the amenities of the new towers like pools and large social areas.

What they lack in facilities, older real estate in El Cangrejo often makes up for with large balconies and spacious rooms.

In 2011, the government of Panama invested in a large scale beautification project for the El Cangrejo neighborhood. This included burying power lines, planting trees, repairing sidewalks, and other aesthetic and livability projects.

The Panama underground metro also has two stops in El Cangrejo: one at the base of Via Argentina and Via Espana and the other near the Iglesia del Carmen.