Avenida Balboa Panama is the most modern avenue in Latin America and more spacious in the metropolitan area of Panama. Furthermore, it is the most expensive mile of road in the world. (It was built at a cost of $ 189 million).
It has six road lanes and two piers. It also has more than 8 courts and recreational parks, 5, gazebos and a bicycle path, fountains and ponds, green areas with trees and tropical plants, and the monument to the discoverer of the Pacific Ocean, Vasco Nunez de Balboa, among other urban artists works. It’s the perfect blend of urban culture, free outdoor sport and urbanism thereby raising the quality of life of its citizens.
The Avenida Balboa Panama is approx 3.5 miles long and is located along the Pacific Ocean. Besides this avenue that has an area of 26 hectares, and extends from Punta Paitilla to Panama’s Casco Antiguo.
Along the avenue lies one of the main financial centers of the city. The avenue is connected to the south corridor across the bridge of ¨las esclavas¨, and to the via Israel by the Paitilla bridge. Its traffic is estimated at 75 000 vehicles per day.
In the Real Estate Panama sector, the Avenida Balboa Panama has one of the highest price per square meter in the country. It is believed that as the avenue is finite, is well connected and soon will have sea which can be enjoyed like Copacabana, Brazil and Surfer Paradise, Australia the cost will keep on raising. The cost of sales at Avenue Balboa Panama per square meter is between $ 2,000 to $ 3.500 per square meter and cost of rent per square meter from $ 12 to $ 20 square foot (Gogetit statistics).
According to our latest report of the most searched / popular buildings of Avenida Balboa Panama during 2014 we decided to write about the first five.
Top 5 most important Buildings in Avenida Balboa Panama:
1) Torre Rivage: has 65 floors, 4 elevators, 234 apartments and year of construction 2013 and is the newest of Avenida Balboa Panama. Average Selling price per mts2 is $2.640 and the average price per mts2 RIVAGE RENT is $17.
2) Destiny Tower: has 50 floors, 4 elevators, 200 apartments and was constructed in 2009, perfect for singles and young executives. Average Selling price per mts2 is $2,455 and the average DESTINY RENT price per mts2 is is $18.
3) Grand Bay Tower: has 40 floors, 3 elevators, 217 apartments, and was constructed 2008, ideal for short stays Average Selling price per mts2 is $2.265 and the average GRAND BAY TOWER RENT price per mts2 is $14.
4) Allure at the park: has 55 floors, 3 elevators, 201 apartments and was constructed in 2011, the building has one of the best social areas in PTY. Average Selling price per mts2 is $2,500 and the average ALLURE AT THE PARK RENT price per mts2 is $18.
5) Yacht club: has 55 floors, 4 elevators, 203 apartments and was constructed in 2011, ideal for people who like luxury buildings. Price SALE by mts2 average is $3.317 and the average YACHT CLUB RENT price per mts2 is $16 .