Contents of this guide
What Costa del Este is
Costa del Este is a planned residential district of Panama City in the Juan Díaz corregimiento. According to its Wikipedia entry (in Spanish), it covers about 310 hectares, has gated residential areas and high-rise buildings, and the Corredor Sur runs through it and links it to the rest of the city. The same entry warns that some of its investment and housing figures may be outdated, so they are not quoted here.
GLP’s website uses two names to place its projects: Costa del Este and Costa del Mar. In its project guide, Ipanema appears as Costa del Mar, and the introduction speaks of one corridor called “Costa del Mar / Costa del Este”. The practical consequence for apartment hunters is to always ask for the exact address and check it on a map before comparing projects by zone name.
Other waterfront areas compete for the same buyer. Punta Pacífica, for example, has its own Radar guide: apartments for sale in Punta Pacífica and Ocean Reef Islands.
GLP projects in the area, according to its website
Two GLP pages agree on the details of the Costa del Este projects: the apartment sales guide and the guide to the best real estate projects. Details that appear on only one of them, or that read like slogans, are left out.
| Project | Zone per GLP | Status per GLP | Units the website lists |
|---|---|---|---|
| Ipanema Waterfront Residences | Costa del Mar, in the Costa del Este corridor | Under construction | 1 to 3 bedroom apartments; two towers of 20 and 23 floors |
| Altamarina Ocean Front | Costa del Este | Pre-sale | Oceanfront apartments; the website does not publish bedrooms, floor areas or number of towers |
Data from GLP’s website, reviewed in October 2026. Neither page publishes a delivery date, and construction status can change. Both are confirmed with GLP at the time of the visit.
One detail helps avoid mixing up projects: GLP’s guide also mentions a project called “Ocean Front” inside the Playa Dorada master plan, in Panamá Oeste, and does not explain how it differs from Altamarina Ocean Front. When requesting information, it helps to give the full name and the zone.
Under construction, pre-sale or ready to move in
The stage of the project changes what the buyer can see, what is signed and what is awaited.
| Stage | What is visible | What is signed | What to ask |
|---|---|---|---|
| Pre-sale | Plans, renders and a sales room | Reservation and purchase promise | Delivery date in writing, penalties and payment plan |
| Under construction | Work in progress, sometimes a model unit | Purchase promise | Real construction progress and date of the occupancy permit |
| Ready to move in | A finished unit | Sale deed, with or without a prior promise | Condition of the unit, common expense fees and the good standing certificate |
According to GLP’s guide, off-plan purchases are paid in staged installments during construction, and immediate delivery usually requires financing approved from the start. The full process, with the documents for each step, is explained in Radar’s guide to buying pre-sale in Panama.
How to choose a tower
With little public data per project, the comparison rests on the same questions for each one.
- Define the use. A home, a rental or a second residence call for different floor areas and services. GLP’s website mentions executive rental as a use in the area, without figures, so any rental projection is requested in writing and checked separately.
- Measure the real commute. The distance to work or school is tested at rush hour, via the Corredor Sur and Avenida Centenario, not in map kilometers.
- Confirm construction status. Under construction or in pre-sale, the delivery date that matters is the one in the contract.
- Compare floor areas with the same rule. Area can be counted in different ways; Law 284 of 2022 sets out in article 121 which elements are included when calculating each unit’s area.
- Review the co-ownership rules. They define uses, fees and rules on rentals. The guide to horizontal property in Panama explains what they contain.
- Check the financing. Whether a unit qualifies for preferential interest is confirmed with the bank for the specific unit.
Checklist for the sales room or site visit
- Legal name of the developer company and its domicile in Panama.
- Floor plan of the unit with the area that will appear in the contract.
- Number of parking spaces and storage rooms included with the unit.
- Promised amenities and which ones will be ready at handover.
- Orientation and view of the unit, seen from the floor being bought and not from the model unit.
- Estimated delivery date, penalties for delay and what happens if the occupancy permit is late.
- Who pays the common expense fees while the unit is not yet delivered.
GLP publishes on its website the apartment buying guide and the projects it has in Costa del Este. Availability and current terms are confirmed with the GLP team.
What the law sets in the contract for a new home
Law 284 of 2022, which governs horizontal property, contains rules that apply to buyers of new homes. Article 120 establishes that the purchase promise for a new home must include, among other points, the detail of the square meters the unit would actually have, the description and ownership of the land, the number of parking spaces and detailed information on the reservations the developer will impose in the co-ownership rules. Article 52 requires the developer to see that units are delivered within the agreed deadlines and to comply with what the contract and the promotional material state. The law is in Spanish and is paraphrased here.
This guide is informational and does not replace advice from a lawyer, who can review the contract before signing. Buyers from abroad can find the overview of taxes and procedures in buying property in Panama as a foreigner.
Frequently asked questions
What apartment projects are there in Costa del Este?
According to GLP’s website, Ipanema Waterfront Residences, under construction, and Altamarina Ocean Front, in pre-sale. Other developers operate in the area, and their information is checked with each one.
Are there new apartments in Costa del Este?
Yes, GLP’s website lists one project under construction and another in pre-sale in the Costa del Este corridor. Unit availability is confirmed with the developer.
How many bedrooms do the apartments at Ipanema Waterfront Residences have?
From 1 to 3 bedrooms, according to GLP’s guides, which describe two towers of 20 and 23 floors. The website does not publish floor areas by unit type.
Where is Costa del Este in Panama?
In Panama City, in the Juan Díaz corregimiento, with the Corredor Sur running through it. It is a planned district of about 310 hectares, according to Wikipedia.
What is the difference between buying in pre-sale and buying a finished apartment?
In pre-sale a purchase promise is signed and payments are made during construction, while with a finished apartment the unit can be seen and the sale deed is signed. Law 284 of 2022 sets minimum contents for the promise on a new home.
Related articles
- Apartments for sale in Punta Pacífica and Ocean Reef Islands
- Beach apartments in Panama: areas and how to choose
- Horizontal property in Panama: how a PH works
- Preferential interest in Panama: how it works
Sources
- Grupo Los Pueblos, apartment sales guide: Ipanema, Altamarina and buying process.
- Grupo Los Pueblos, best real estate projects: status and zone of Ipanema and Altamarina.
- Grupo Los Pueblos: the developer’s home page.
- Law 284 of February 14, 2022, Gaceta Oficial 29476 C: articles 52, 120 and 121.
- Wikipedia, Costa del Este (Panamá): location and general features.
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