Panama's Real Estate Boom by Ivy669Thacker


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									Panama's Real Estate Boom
DONALD TRUMP can't be wrong, can he ? Trump has dropped so much in love with panama that he
is building a $220 Million, 65 tale (2.4 million square foot) hotel/condo monoliths called the Trump sea
Club International resort & Tower in a posh Panama city neighborhood. Trump will build 500 luxury
condominium units along with a 312-room hotel. This particular complex will include a casino , private
beach membership and a marina. Innovative is scheduled for this Christmas with a conclusion date in
Why is Trump doing this in Panama of all places? In an april 24, 2006 press conference in ny ,
Donald Trump said his interest in panama was sparked 3 years ago when his "Miss Universe" contest
was held in panama. He saw which Panama city had been "beautiful" and promised he would
develop presently there if the right chance came up. His project was "easily funded", noting which as
many as seven "main financial institutions were fighting to put up cash." He agreed which "Americans
are coming in droves to panama ," due to it's political stability, low cost of living, low interest rates,
and being located outside of any hurricane path. "it's great for baby boomers." Trump said, although
the task will be marketed worldwide. The condominium models will start at $180,000 with clear ocean
Panama is just beginning to recognize a real estate boom !
Besides Trump, numerous international real estate investors will also be discovering Panama.
For example:
Bigger compared to Trump: An even higher skyscraper will be constructed near Trump's tower. The
Ice tower will have over 100 floors making it the actual tallest building in most of Latin the united
states , tied with the Empire State Building as the second-tallest in the traditional western hemisphere
and 9th in the world when it is carried out 2010.
And an additional ! Even before Trump's tower and The Ice tower are completed, an additional
skyscraper (93 flooring ) called El Palacio de la Bahia will be completed in 2009 costing over $160
Million. They've already sold several dozen condos mostly to Europeans because this is an entirely
European investor task.
I asked a Panama City property brokerage owner, Daniel Hanna (Panama property Group), what he
thought about how the ice Tower and Trump's Ocean Club will affect Panama's property prices? His
reaction echoes most real estate agents in Panama: "because Panama continues to grow in many
different industries, these projects will definitely arranged a new standard of living within Panama,
thus helping the prices around the entire country."
So, why are all of these real estate investors coming to Panama?
A small History will help explain these phenomena. Panama has always had a close relationship with
the United States, which helped Panama to secede from Colombia within 1903 and was the very first
country to recognize the new Republic of panama. The U.utes. Government built the actual Panama
Canal beginning in 1904. Only until the year 2000 did Panama actually manage its Canal following
the U.S. Shut all of its military bases and remaining. People used to jokingly refer to Panama as the
"United States of panama " due to its close ties to the U.utes. After the U.utes. Left, Panama's
economic climate slumped. Then american retirees re-discovered panama as a peaceful, safe , and
cheap place to retire.
Economical growth : In 2004, property construction activity jumped up in different parts of the country.
Mostly retirement communities nestled amongst the numerous beautiful unoccupied seashores and
mountain valleys. In 2005, building permits rose by 90% while Panama's economy grew with a
respectful 6.4%. The Panama channel recorded its 3rd consecutive year of double-digit growth in cost
revenues. Tourism and financial services also made impressive growth gains.
Americans returned to Panama because of the excellent infrastructure constructed by the Americans,
low crime, numerous English-speaking natives, great immigration law Visa programs; the actual
currency has always been the actual U.S. Dollar , and great taxes incentives.
The best Reason is that panama is so cheap to reside ! Land, housing, local foods, transportation,
leather goods, clothing, and local artisan wares are all far cheaper than anywhere in north america or
Don't Take My term for it. Read what leading experts need to say about Panama's real estate
The NY Times recently wrote: "Panama is increasingly lighting up the actual radar screens of these
searching for an affordable alternative to the more traditional south-of-the-border retreats in south
america , Costa Rica and the carribbean , where escalating costs increasingly rival those along
America's personal beach fronts."
Forbes Magazine (July eleven , 2005) praised panama as a recommended "heaven FOUND:
WHERE TO stop working ABROAD" where a u.S. Couple "obtained a lot on a slope overlooking a
course and have built a three-bedroom white-stucco home with a red-tile roof (total cost: regarding
$250,000)." within Boquete. "You can hear rivers here," states Janet. "It's very peaceful."
National Association of Realtors: Tom Stevens, who is their current President, recently frequented
Panama and described : "We're seriously considering investing here. It is a great opportunity. Price is
what it was as with the U.utes. 20 to 25 years ago."
The london Financial Times wrote in its April fourteen , 2005 issue which Panama is now moving
Costa Rica as the place to invest. "Like panama and nicaragua , , Panama is loaded with exquisite
beach cities , has inviting taxes and ownership guidelines for foreigners and a long history of political
stability. Furthermore , Panama City is definitely an urbane, safe city that has long had a military and
private US presence because of the canal. A gated-community, three-bedroom luxury home on a golf
course in the mountains can be had for $250,000 to $350,000, property experts say... Throw Bedsole,
who oversees Latin American property for PriceWaterhouseCoopers, believes Panama is at an early
on stage in the property boom."
Conde Nast Traveler's October 04 issue declared: "panama is the new central American bargain in
which the U.S. Dollar - the market foreign currency - goes a long way."
Is it safe to Buy real estate within Panama? Buying property in Panama is safe and secure for and
also the. The U.utes. State Dept. Certifies this by stating : "Titled land, and the process of buying this
particular , is similar in idea to that of the u.S., and land deeds are duly recorded with the public
How lengthy Will this boom Last? It's just beginning. Donald Trump has not even broken floor yet.
Daniel Hanna, the Panama city real estate broker, reiterates: "invest in Panama real estate now
before the Towers are completed. Panama will end up a hot real estate market because it has so
many attractions than just property construction. Soon, the world will know Panama because of its
natural beauty, healthy environments , and charismatic people. Living in this beautiful country is just a
benefit !"
The National Geographic Traveler predicted within December of 04 : "Panama is now exactly where
Costa Rica was ten years ago. Panama is getting ready to explode."
"Boom" I can hear the distant rumbling of a Big Boom yet to come!

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