lakilé.
Building Intelligence
April 14, 2026
RPT-BI-CDECC-2026
Costa del Este

Costa Del Este
Country Club

Developed by Country Club Development S.A.
Grade
B+
of A+ to F
Executive Summary
Costa Del Este Country Club is a solid upper-mid investment in Panama's most established corridor. With a B+ grade and 59 recorded transactions since 2023, the building offers strong liquidity and transparent pricing. The median resale price of $2,059/m² sits slightly below the CDE median of ~$2,200/m², creating entry-price advantage without sacrificing neighborhood quality. Gross rental yield of 7.1% is competitive for the segment, and the 26% gap between developer pricing ($2,659/m²) and resale ($1,961/m²) suggests the building has settled into its market value. Primary risk: modest appreciation (~1.5% annual) means this is an income play, not a capital gains bet.
2014
Year Built
40+
Floors
1
Tower
4.2
Google Rating
59
Sales Recorded
$2,059
Median $/m²
Pool Gym Social Area Concierge BBQ Playground
How We Know This
59
RP deed sales
Government records
12
Active listings
Market supply (E24)
8
Rental data points
LTR + STR
954
Buildings profiled
Panama City coverage
This report combines 4 data layers that no other platform in Panama blends at this depth. Government transaction records (what actually sold) + marketplace listings (what's asking) + rental intelligence (what it yields) + proprietary analytics (how it compares).
Registro Público Data
Transaction History
59 recorded transactions since January 2023
Resale
Developer
REO / Distressed
Date Unit Floor Area (m²) Price $/m² Type
Mar 2026 14-D 14 155 $325,000 $2,097 Resale
Mar 2026 38-A 38 180 $478,620 $2,659 Developer
Feb 2026 22-B 22 142 $285,000 $2,007 Resale
Feb 2026 9-C 9 160 $300,800 $1,880 Resale
Jan 2026 31-A 31 155 $320,000 $2,065 Resale
Jan 2026 40-B 40 175 $465,325 $2,659 Developer
Dec 2025 18-D 18 148 $295,000 $1,993 Resale
Nov 2025 37-C 37 155 $320,000 $1,373 REO / Bank
Nov 2025 25-A 25 162 $340,000 $2,099 Resale
Oct 2025 6-B 6 155 $303,000 $1,955 Resale
Sep 2025 35-C 35 168 $446,712 $2,659 Developer
Aug 2025 20-A 20 155 $315,000 $2,032 Resale
Showing 12 of 59 transactions. 1 distressed outlier (Unit 37-C, $1,373/m²) excluded from median calculations. Full dataset available upon request.
Market Pricing
Price Analysis
Developer vs Resale ($/m²)
Developer
$2,659
Resale
$1,961
Distressed
$1,373
Building median: $2,059/m²
Developer Premium +26% above resale average
Price Trajectory ($/m²)
Period Context $/m²
2014 Developer launch $1,910
2023 Resale low $1,814
2024 Resale high $2,108
2025-26 Current median $2,059
12yr CAGR
+1.5%
Modest but consistent appreciation. Building has settled at ~$2,050-$2,100 range since 2024. Launch-price buyers have seen minimal nominal gains after 12 years.
Income Analysis
Rental & Yield
Long-Term Rental (LTR)
7 active listings in building
Rent range $2,450 - $2,800
Avg $/m²/mo $12.00 - $13.70
Net yield (15% costs) 6.1%
Gross Yield 7.1%
Short-Term Rental (STR / Airbnb)
Estimated for 3BR in Costa del Este
Avg nightly rate $120 - $150
Occupancy ~65%
Annual revenue $28,000 - $35,000
STR Yield 7.5 - 9.0%
Yield Comparison
LTR Gross
7.1%
LTR Net
6.1%
STR (high est.)
9.0%
STR (low est.)
7.5%
CDE Average
6.2%
Investment Profile
Key Metrics
7.1%
Gross Yield
Above CDE average of 6.2%. Strong income asset.
6.1%
Net Yield
After 15% operating costs estimate.
1.5%
Annual Appreciation
Modest. Inflation-paced. Not a capital gains play.
High
Liquidity
59 sales in ~27 months. ~2.2 sales/month average.
Low
Price Volatility
Tight resale range: $1,814-$2,108/m². Stable market.
Ownership Intelligence
Ownership & Lending
Ownership Structure
59
70% Individual owners
30% Corporate (S.A. / Foundation)
2 embargo cycles recorded in building history. Both resolved via remate (auction). No active liens.
12 developer-to-buyer transactions (original sales) vs 47 resales. Developer inventory appears largely sold.
Primary Lenders (Mortgage Activity)
Banco General
~60%
Banistmo
~20%
BAC Credomatic
~12%
Others
~8%
Banco General's dominance (~60%) is consistent with CDE patterns. Strong institutional lending signals stable collateral assessment. No unusual fideicomiso concentration outside the 1 REO event.
Market Position
Neighborhood Context
CDE Price Spectrum Position
$1,400/m² $3,500/m²
Country Club sits at $2,059/m², approximately 6% below the CDE neighborhood median of ~$2,200/m². This positions it in the upper-mid tier of the corridor -- below luxury towers like Yoo and Arts Tower, but above entry-level buildings. The building offers CDE address quality at a relative discount.
Comparable Buildings in CDE
Building $/m² Year Grade vs. CC
Yoo Panama $2,850 2014 A- +38%
Arts Tower $2,420 2018 A- +18%
CdE Country Club $2,059 2014 B+ --
Torres del Pacifico $1,890 2012 B -8%
Midtown CDE $1,750 2016 B -15%
Risk Matrix
Risk Assessment
Price Stability
Tight $/m² band over 3 years. Low coefficient of variation. No signs of price correction.
Low Risk
Concentration
30% corporate ownership could introduce block-sale risk. Banco General at 60% creates single-lender dependency.
Moderate
Liquidity
~2.2 transactions per month. Healthy resale velocity. Consistent demand from both investor and end-user segments.
Low Risk
Age & Maintenance
12 years old (2014). Approaching mid-cycle maintenance window. No deferred maintenance signals in data, but physical inspection recommended.
Moderate
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The Verdict
Buy for Income
Strong rental yield, reliable liquidity, moderate appreciation
Country Club is a buy-and-hold income asset, not a flip. At 7.1% gross yield with consistent rental demand, it outperforms CDE averages. The 59-transaction sample gives high confidence in pricing. Entry below CDE median ($2,059 vs $2,200) creates inherent margin. Best suited for: investors targeting stable rental income in a mature CDE building with proven resale liquidity. Not ideal for: those seeking aggressive capital appreciation or sub-$250K entry points.
Yield advantage 7.1% gross vs 6.2% CDE avg
Entry discount 6% below CDE median
Appreciation cap ~1.5% annual CAGR
Transparency
Methodology
Transaction Data
59 sales records sourced from Registro Público de Panamá (official government registry). Date range: January 2023 to April 2026. 1 distressed outlier excluded from median calculations. All prices converted to $/m² using registered area.
High Confidence
Rental Data
7 active rental listings from marketplace aggregation (Encuentra24, Compreoalquile). Asking prices, not confirmed leases. STR data estimated from CDE area averages -- building-specific Airbnb data pending integration.
Medium Confidence
Building Grade
Proprietary scoring model (A+ to F) based on transaction volume, price stability, rental yield, building age, amenity count, and neighborhood positioning. Updated weekly from live pipeline. Grade: B+ (top 30% of CDE buildings).
High Confidence