Browse through our listings of El Cangrejo Panama real estate and contact us with any questions. Literally translated “the crab,” the El Cangrejo neighborhood is approximately two miles inland from the Bay of Panama and is home to over 150 different restaurants, shops, and open air cafes.
The generally accepted borders of El Cangrejo are Via Espana to the south, Avenida Manuel Espinosa to the west, Transismica to the north, and Via Brasil to the east and the neighborhood is comprised of roughly 97 Hectareas, or 150 square blocks. The two main thoroughfares that transect El Cangrejo are Via Veneto and Via Argentina. Many consider this neighborhood to be the touristic center of Panama City because there are close to 50 hotels located here, including the Veneto Hotel and Casino, Toscana Hotel, Torres del Alba and many other small hotels. In 2012 Holiday Inn and a handful of other high profile hotels will be added to the list.
El Cangrejo is about a 15 minute walk to the Avenida Balboa neighborhood and a 20 minute walk to Punta Pacifica. El Cangrejo is also about a 30 minute drive to the Tocumen International airport and an hour’s drive to the closest beach on either the Caribbean or the Pacific.
The El Cangrejo neighborhood is in one word eclectic. The variety of coffee shops, ethnic restaurants, funky old buildings, towering new condominiums and office buildings give it plenty of character and make it a very vibrant neighborhood. Many consider El Cangrejo to be one of Panama’s best walking neighborhoods because of the close proximity to 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 and the preferred site for many local concerts, art exhibitions, and community fairs. Local El Cangrejo 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.
There are several schools located in El Cangrejo including La Salle Academy, la Universidad Interamericana, and UMECIT.
Apartments for sale in El Cangrejo 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 and Harmony have all been delivered. In the first quarter of 2012, Dali Tower and Luxor Tower will both be ready for occupancy, along with a handful of other projects slated for completion in the coming years.
In the last three years, prices in the El Cangrejo 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 that included burying power lines, planting trees, repairing sidewalks, and other aesthetic and livability projects. The Panama underground metro due for completion in 2014 will have two stops in El Cangrejo: one at the base of Via Argentina and Via Espana and the other near the Iglesia del Carmen.