La Locería

About La Locería:

La Locería sits on the west side of Vía Ricardo J. Alfaro, the road everyone calls Tumba Muerto, opposite Plaza Edison. There is no signed boundary. In practice the barrio is the grid of streets off Avenida Juan Pablo II, numbered in the Calle 58 to Calle 63 Oeste range, with Calle 61 Oeste, also known as Calle Fermín Naudeau, and Calle Teribe running through the middle. Edison Park lies across Tumba Muerto, La Alameda adjoins it inside Betania, and just past its edge is Nuevo Brooklincito, the state housing project in neighbouring Curundú.

Getting out is easy by city standards. Tumba Muerto is one of the busiest bus corridors in the capital, with routes running its full length from the Albrook terminal, and by car the Corredor Norte, El Dorado and Albrook are a few minutes away. Line 1 of the Metro runs along the Transístmica on the far side of Plaza Edison, where offices including the Ministry of Labour bring a steady weekday crowd. Expect Tumba Muerto itself to be slow at rush hour, so the side of the barrio you choose decides how long it takes to reach the main road.

Daily life runs around a few fixed points. The Instituto Fermín Naudeau, a public secondary school founded in 1958 and known for its marching band, sits in the middle of the barrio on Calle Teribe, and the private Escuela de Oxford is nearby. Plaza Siglo XXI has shops and small offices at street level, Clínica APLAFA works out of the Fundavico building on Calle 61 Oeste, and the Parroquia San Pablo Apóstol and the Punto Penal Tumba Muerto sports field are close by. The Bosque Urbano de La Locería, a patch of urban forest on the western side, is the reason some apartments here look out on treetops rather than other buildings.

The people who buy in La Locería want a central address without paying new-tower prices. A resale apartment here costs well below a comparable unit in the towers going up along Tumba Muerto, and rents follow the same pattern, which draws couples, small families and people who work in the offices around Plaza Edison. House buyers are fewer and tend to be families who want a yard and their own front door within reach of the city centre. Small investors also buy the older walk-up units to let on long leases.

Apartments for sale in La Locería:

The stock splits into two kinds of building. The older walk-ups, such as Edificio Concordia in the Complejo Habitacional La Felicidad, PH Prosperidad, Edificio Salomón and PH La Locería No. 1 and No. 2, have two- to four-bedroom units of roughly 65 to 98 m², often with a single bathroom, and these are the cheapest apartments for sale in La Locería. Siglo XXI sits at the other end, with two-bedroom, three-bathroom units of around 96 m², a walk-in closet, 24-hour security, two lifts and a social area with a pool, gazebo and barbecue. In between are small buildings such as PH Juan Pablo del Vaticano, five floors and 24 units, and PH Metro Park, where some two-bedroom flats face the wood. Whatever the building, you are buying under propiedad horizontal: your unit is its own finca in the Registro Público, together with a share of the common areas, and you pay a monthly cuota de mantenimiento. The building’s reglamento sets the rules on letting, pets and short stays, so read it before you sign.

Apartments for rent in La Locería:

Lettings here are long term. A three-bedroom unit in one of the walk-ups is among the more affordable apartments for rent in La Locería and in this part of the city, while units in Siglo XXI and the Juan Pablo buildings cost more and often come with two parking spaces. Landlords usually ask for a job letter, bank references, an APC credit check, a security deposit and the first month in advance. Some walk-up rents include water and rubbish collection, a few buildings do not accept pets, and furnished units turn up from time to time. Ask whether the cuota de mantenimiento is in the rent or charged on top.

Houses in La Locería:

Houses are a smaller part of the market but a real one. Most houses for sale in La Locería are two-storey family homes on lots of about 210 to 240 m², with three to five bedrooms, a front porch, a terrace or balcony, a back patio and covered parking for two cars. Some date from the late 1970s and others were built within the last fifteen years, so ask the year of construction and look closely at the roof, wiring and plumbing on the older ones. You will find them on streets such as Calle Teribe, by the school, and Avenida 22 A Norte. A house here costs roughly twice what a walk-up apartment does, and it carries no cuota, which leaves the water tank, security and upkeep to you.

Warehouses and Commercial Space in La Locería:

La Locería is not only residential. It has a gated industrial park with 24-hour security, where galeras of around 1,000 m² with a mezzanine, nine-metre ceilings, loading docks and three-phase power come up for rent, and larger bodegas with offices, one of them built in 2013, come up for sale. Plaza Siglo XXI offers retail units from about 47 to 183 m², and the Siglo XXI commercial tower holds law firms and other small offices. Before you buy or lease for business use, confirm with the Municipio de Panamá that the lot’s zoning allows it.

Frequently asked questions:

• Where exactly is La Locería, and where does it end?

  It is the block of streets on the west side of Tumba Muerto, opposite Plaza Edison, reached along Avenida Juan Pablo II and laid out between Calle 58 and Calle 63 Oeste. The edges are informal: Edison Park is across the avenue, La Alameda is the neighbouring barrio in Betania, and Curundú lies just beyond its edge. Agents sometimes label Siglo XXI as Tumba Muerto rather than La Locería, so go by the urbanización on the title.

• How much more will I pay in maintenance in Siglo XXI than in a walk-up?

  Several times more. Siglo XXI pays for lifts, security staff, a pool and a social area, while the walk-ups have stairs, a water tank and little else to maintain. The trade-off is that older walk-ups often have a small reserve fund, so ask the administrator for the latest accounts and whether any special assessment for the roof, pipes or façade has been voted. A unit on the fourth floor with no lift will also be harder to resell or let to older tenants.

• Does a parking space come with the apartment?

  Usually one, but check what kind. In some walk-ups the space is assigned to your unit, in others it is unassigned and you park wherever there is room, and in the newer buildings it may be a separate finca in the Registro Público. A titled space, or a second one, adds to the price and to resale value, so confirm on the title what you are actually buying, and do the same for any depósito.

• What should I check before buying a house here?

  Start with the neighbours’ lots. La Locería mixes family houses with warehouses and offices, so ask the Municipio de Panamá for the zoning of the plot and the ones beside it, and walk the street on a weekday morning to see the school and delivery traffic for yourself. Then compare the built area on the title with what is standing, since many houses on these small lots have added a floor, a room or a covered parking space over the years.

• Can a foreigner buy property in La Locería?

  Yes, on the same terms as a Panamanian, either in your own name or through a company. The title is registered in the Registro Público, and a local lawyer should search the finca for mortgages and liens before you pay. For an apartment, ask for the PH’s paz y salvo confirming the seller is up to date with the cuota.