The Casco Viejo or Casco Antiguo Panama
In the corregimiento of San Felipe is the Casco Antiguo or Casco Viejo de Panamá. Moreover, after the destruction of Old Panama City by the pirate Henry Morgan in the year 1671, Panama City moved to what we know today as the Casco Antiguo or Casco Viejo in January of the year 1673.
For the settlement of Panama City, defensive and vital aspects were considered, such as the proximity to Cerro Ancón, which offered the city crystal clear water. Therefore, the stream’s name that provided water to the new Panama City rests west of Casco Viejo above Chorrillo.
To the South, East, and North of the old Panama City, it borders the Pacific Ocean. At low tide, Panama City by sea became almost impossible. For that reason, it is the large number of corals and reefs surrounding the seabed of the new Panama City.
In addition, about The Casco Viejo or Casco Antiguo Panama!
In addition, they built five Bastion walls around the new City for its defense. Stand out Barlovento, which surrounds the Plaza de Francia. Today, Paseo Esteban Huertas, El Baluarte de Jesús, or Mano de Tigre, is located in front of Plaza Herrera.
Additionally, a powerful Bastion was Puerta de Tierra, which separated the exterior of Panama City and was known as the suburbs.
Subsequently, Panama City reinforced the seafront with the Baluarte and Punta Chiriquí.
To reinforce Panama City’s defensive strategy, the city dwellers developed a system of tunnels to communicate. Also, entrances and exits of these tunnels are in the obelisk of the Plaza de Francia and the House of the Municipality.
Among its attractions in Casco Viejo is the diversity of buildings concentrated in a few blocks.
Plazas in Casco Viejo:
The Plaza Mayor or Plaza Cathedral, also known as Plaza de la Independencia, is in front of the Cathedral, the Canal Museum, the Central Hotel, and the Municipal Palace.
The Plaza de Francia at the end of the first street is in remembrance of the French effort in the Panama Canal construction.
Plaza Herrera in honor of General Tomas Herrera, in front of the entrance to the American Trade Hotel tall building in new Panama City.
Plaza Bolivar, where a monument to the liberator Simón Bolívar stands. In its surroundings of Plaza Bolivar are the San Felipe de Neri Church and the San Francisco Church. Also, Bolivar Palace, the Colombia Hotel, the Heurtematte Houses, and the National Theater.
Churches and Religious Buildings at Casco Viejo:
The Cathedral Church: Construction began after Panama City moved to its new location 8 kilometers from the previous location in the year 1673 year. Besides, the duration of the construction work was 108 years. The Cathedral of Panama. It is the seat of the Archdiocese of Panama, consecrated in 1796. Also, since 2014 it bears the title of Cathedral Basilica Santa María La Antigua.
The Church of San José: Initially located in the area known as Panama Viejo. In addition, inside is one of the most important colonial treasures in the country, its renowned golden altar.
Facing the Plaza Bolívar is The Church of San Francisco de Asís: The San Francisco church is the highest point of the Casco Viejo. Besides, its facilities were the headquarters of the First Panama Battalion and the Panama Host Congress, where the protocols were signed.
Additionally, renowned schools such as La Salle, Instituto Bolívar, and El Colegio San Agustín. Part of its facilities is the headquarters of the Exterior Relationship Minister, where a replica of the sword of the liberator Simón Bolívar rests.
Other Churches and Religious Buildings at Casco Viejo:
The location of San Felipe de Neri Church is on Calle Cuatro and Avenida B. Its facilities serve multiple purposes, being the temporary headquarters of the Universidad Santa María La Antigua.
The Church of La Merced. The façade of this church was moved stone by stone from the old church located in Panama Viejo.
In addition, the location of The Jesuit Convent ruins is on Avenida A, in front of the Church of the Altar de Oro.
The Santo Domingo Convent was one of the first built in the new headquarters in Panama City. Its lowered flat arch served as an example to demonstrate the few high-intensity telluric movements suffered by the Isthmus of Panama. During the negotiations for the Panama Canal construction.
Find Government Buildings in Casco Antiguo:
The National Theatre: built on the former site of the Convent of the Nuns of La Concepción in 1908. Great Works and Artists are presented in its facilities, such as renowned ballet dancers. In addition, the English Margot Fonteyn and the Hungarian nationalized American Iván Nagy.
Presidency of the Republic or Palacio de las Garzas: The location is south of the Bay of Panama, between Calle 4 East and Calle 5 West. The original building began its construction in the year 1673. El Palacio de Las Garzas offered multiple uses in the Viceroyalty of the Nueva Granada period. It is the seat of the Republic Presidency, the Minister of the Presidency, and the Institutional Protection Service.
Ministry of Government: The location is on the third street. The building Minister’s interior is recognized for its interior and exterior architectural beauty.
Other Government Buildings in Casco Antiguo:
The Bolívar Palace: Now it is the headquarters of the Ministry of Foreign Affairs and is in front of the Bolívar Square.
The National Institute of Culture is now Panama’s Ministry of Culture. It is in the monumental complex of the vaults. Initially, it was the Legislative and Justice Palace.
The Demetrio H. Brid Municipal Palace is on Seventh Street and Central Avenue in front of Cathedral Square and the Interoceanic Canal Museum. At its headquarters, Panama proclaimed its separation from Colombia on November 3, 1903. The first constitutional president, Manuel Amador Guerrero, took office.
The Palacio de La Municipalidad was built on the bastion of Puerta de Tierra. The state bought the old Arias-Feraud mansion. The government remodeled and named the house of the Arias-Feraud municipality.
Other interest Buildings in Casco Viejo:
Casco Viejo or Casco Antiguo has other buildings of interest that describe the history of Panama over the years. Among them, we find the Legation, the Heurtematte house, Casa Testa, and Casa Art Deco. Casa Boyacá was constructed using the timbers salvaged from the sunken steamer Boyacá.
Also noteworthy are the Calvo mansion, the Obarrio house, and the Gongora house, one of the oldest buildings in the Old Town, previous ones with the highest patrimonial hierarchical level.
In 1977, UNESCO included the Casco Viejo or Antiguo of Panama in the list of World Heritage Sites.
Why invest in Casco Viejo Real Estate?
Casco Antiguo has four reasons to invest in real estate, and we invite you to know them.
First: Interest Rates Loans Lower.
Banks have incentives to offer lower interest rates in loans issued to restore, construct, rebuild, or purchase real estate assets in Casco Antiguo and adjacent areas.
Second: Income Tax Exemption.
The property owner that constructs, restores, or reconstructs properties in Casco will be exonerated from Income tax, partially or totally. Regarding the income received from commercial activities, sale, or transfer of part or all of the property for ten years.
A person (owner or tenant) that operates areas for parking uses is exonerated from tax income regarding the income received from the said commercial activity for ten (10) years.
The Tenants of a building constructed, restored, or rebuilt strictly for living purposes will be able to deduct from their income declaration the rent expenses for five (5) years from the issue of the occupation permit.
Third: Properties Transfer Tax Exemption.
The transfer tax for buildings or plots of land that have no investments or restoration of any type that the location is in Casco Antiguo. And adjacent areas will be exempt from the property transfer tax. (Note that the property transfer tax equates to 2% of the purchase price or the property value, whichever is higher).
In addition, the first transfer of a property that has undergone construction, restoration, or rebuilding will be exonerated from the Property Transfer Tax. Also, the investment must be higher than US$50,000.00.
Fourth: Properties Tax Exemption.
Furthermore, when an investor constructed, restored, or rebuilt property with its occupation permit issued after the law came into force (Law 136, 2013), investors will be exempt from property taxes for 30 years. Also Tax Exemption for importing Construction Material and Equipment.
Besides, all the construction and equipment needed or used for the construction, restoration, or rebuilding of any edifications located in Casco Antiguo. And adjacent areas that are not manufactured in Panama or are not producing in the amounts needed will be exempt from the Import Tax.
If you have any other questions, please feel free to contact Us!
