Veracruz is located approximately 20-25 minutes from down town Panama City. The town of Veracruz was founded on the 17th of September of 1934, but in those days it was called Camaron. It wasn´t until 1954 that the name was changed to Veracruz, after its similarity to the famous mexican port of Veracruz.
Veracruz is known mostly for it beaches, which have many small rancho style restaurants where one can get an entire fried sea bass for 3-5 dollars and beers for 60 cents. Veracruz is also known for its various fish markets.
Veracruz is a small fishing village that is made up mostly of lower socioeconomic class level.
Veracruz that it is in an economically attractive area in front of the former US Howard Airforce base.
The ocean view and ocean front real estate that is located in the areas of Veracruz and Majagual is econimically attractive as a real estate investment for several reasons:
- The real estate in this area of Panama offers beautiful ocean views and beach frontage within a distance of the city that can be commuted daily. The drive ranges from about 25-30 minutes to downtown Panama, and only 15-20 minutes to get to Balboa Panama which has just about everything one could need or want for everyday living.
- Former US Howard Airforce Base which is located just in front of the area of Majagual and Veracruz, and former Rodman Naval Station recently received approved legistlation to become a free trade zone for the Pacific.
- Also, a Resort area is currently being built on the road to Veracruz and Majagual, about 10 minutes from the actual area of Majagual. The resort is being built by InterContinental Hotels Group (IHG), the world's largest and most global hotel company, and Empresas Bern, Panama's largest hotel and tour group operator.