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Friday, November 24 2017 @ 07:51 AM EST

Real Estate in Panama

Most people who visit Panama-Guide.com are interested in the booming real estate market here in one way or another. There are new towers going up all over Panama City and the skyline is dotted with construction cranes. Along the beaches new developments are popping up so fast it's hard to keep track. In this section you will find articles related to real estate in Panama. If you require additional information about this or any other category of information regarding the Republic of Panama please take advantage of our powerful in-house search engine. And if you still can't find what you're looking for we sometimes take requests. Welcome aboard, and please remember to tell your friends about Panama-Guide.com, the #1 English Language Website about the Republic of Panama. Salud.
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Punta Pacifica Chief Elected Head of Trump Owners Group

Real EstateBy Jeff Barton - Apartment owners of the Trump Ocean Club have elected Punta Pacifica Realty founder Duncan McGowan president of the building’s homeowner’s association, the group charged with protecting the interests of owners in the iconic tower.

The association represents the owners of the 635 apartments in the Trump, the sail-like tower on the Punta Pacifica waterfront. The Trump is the first Trump-branded resort in Central America and the largest mixed-use project in South America.

“I’m honored to serve the owners,” Mr. McGowan said. “Our responsibility is make sure all the owners see the level of maintenance, amenities and service they should expect from this five-star building.”

Top priorities will include creating greater transparency for the owners, reducing maintenance fees and ensuring the best possible service.

Mr. McGowan is a natural choice to head the association. Punta Pacifica Realty has handled more sales and rentals in the Trump than any other real estate or property management agency. The firm also manages more property in the tower than any other agency, offering tenants a complete menu of services, from in-house maintenance crews to state of the art security systems.

A Scottish Nicaraguan who earned a biology degree from the University of Toronto, Mr. McGowan has been living and working in Panama since 1998. He helped develop customer relations programs with Trump’s high-end clientele, before founding PPR in 2010, Panama City’s first full-service real estate agency.

Since its inception, Punta Pacific Realty has handled more than $460 million of real estate sales in Punta Pacifica and manages the majority of the luxury apartment rentals in the exclusive neighborhood of waterfront towers.

“The Trump is the premier building in Central America and I look forward to helping the owners live the Panama City lifestyle and get the most out of their investment,” Mr. McGowan said.

Punta Pacifica Realty's offices are located in Aqualina Tower in the commercial space. As well as they have a boutique office located in Trump Ocean Club in front of Mailboxes Etc. (+507) 836-5991 sales@puntapacificarealty.com www.puntapacificarealty.com

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Meet the Punta Pacifica Real Estate Experts

Real EstatePunta Pacifica Realty is the largest real estate company in Punta Pacifica, laser-focused on sales, rentals and property management in the community of luxury skyscrapers on the Panama City waterfront.

In recent years, the firm has contracted more sales and rentals in Punta Pacifica, and managed more rentals, than any other firm.

“We pride ourselves on our ability to save people money and ensure the security of their investment,” says PPR founder Duncan McGowan, who has been living and working in Panama since 1998.

With its main office located on the Punta Pacifica roundabout, PPR is an established part of the neighborhood, working with the community and local associations to make Punta Pacifica a better place to live and visit. The office is also a convenient place for clients and residents to get more information, and consult with our sales and rental experts.

PPR is the most comprehensive agency in Panama City, a one-stop shop with designers, legal experts, accountants and a mortgage specialist to guide clients through every stage in the process. The property management operation is the most sophisticated in the area, with hundreds of properties under management and a team of 25 professionals dedicated to every aspect of maintaining and maximizing clients’ investments.

The PPR team also offers specific expertise in the Trump Ocean Club, the iconic sail-like tower that is the social and cultural hub of the area. Earlier this year, PPR opened a satellite office in the Trump, the Panama Investment Boutique by Punta Pacifica Realty, where potential clients can get updated information, news on investment opportunities, legal advice and the latest information on immigration and taxes.

“Knowing the nuances and differences of Trump apartments can save clients thousands of dollars,” says PPR managing director Jeff Barton, the former sales manager of the Trump. “Two apartments may be the same size, but the reality is location, views and rental demand can result in two very different valuations for a future resale.”

Panama’s real estate market can be a frustrating and complicated process for many real estate buyers. But PPR’s depth of experience in the market and multi-faceted expertise can help save time – and money, Mr. McGowan says.

“Our primary goal is to maintain and maximize our clients’ investment,” Mr. McGowan says.

For more information, contact one of the Punta Pacifica Realty experts at info@puntapacificarealty.com or call us at (Panama) +507-836-5991 or (USA) 786-528-3080

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Balboa Avenue Prices up 12% since March 2013

Real EstatePrices are up nearly 12% on residential high-rise apartments for sale in Panama’s waterfront district, Balboa Avenue compared to March 2013, the last time Panama Equity Real Estate conducted our pricing survey. These findings coincide with overall real estate trends for Panama City in the last 16 months, although prices are up in other areas of the city by even higher amounts (namely Costa del Este which has seen increases of closer to 20% during the same period).

Changes along Balboa Avenue’s waterfront corridor have included creating a separate bus-only lane which has eased traffic somewhat as well as the closing off of several lanes on Sunday for bike traffic only. Both initiatives, combined with an expansion of the park system via the Cinta Costera 3, have brought increased walk-ability and improved the overall quality of life for residents in this upscale neighborhood in Panama. New developments along Balboa Avenue include the recently opened Hilton as well as the soon-to-open retail shopping mall one block east.

The sharpest price gains came, based on a similar study conducted in March of 2013, in buildings such as YOO Tower and Rivage, both of which were, at the time of the study in March, still closing on units with sellers. Many of the listings at that time were from sellers who were in fact unable to close and had to sell at a discount against developer’s pricing, causing prices to temporarily drop well below market averages. Those sellers have either found buyers or rented their properties out, and most of the remaining inventory in those two particular buildings are being sold by the developers. Prices in YOO are up by more than 25% compared to the offering back in March of last year, due mainly to the above.

The average price per square meter for a 100 meter apartment along Balboa Avenue today is $2,377/m or just over $220 per square foot. In March of 2013, a similarly priced property would have listed for $212, 500, or $2,125/m.

Another reason for double digit appreciation is because every single one of the buildings along Balboa Avenue qualified for the full 20 year tax exoneration which has, in some cases, made older properties (as is the case with Bayfront and Grandbay) more attractive than the new inventory coming on the market which will only have between 5-10 years of tax exoneration.

Demand continues to be driven by foreigners who prefer Balboa Avenue because of shortened commute times, ocean views, as well as easy access to the park system and the nightlife in the Historic District of Casco Viejo.

About the Author

Kent Davis, founder and head broker at Panama Equity real estate, has been widely quoted in publications such as Time Magazine, Capital Financiero, and The Panama Guide for his unabashed views on the Panama real estate market. Panama Equity is regarded as one of the most active real estate agencies in Panama and Kent’s articles, reports, and market research projects have been syndicated by press agencies including Bloomberg and the Associated Press.

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Chiriqui Coastal Community Development Opportunity

Real Estate

Contact: Thomas H. Brymer II | (E) tbrymer@brymerpa.com | U.S.A. (305) 448-1003 | Panama Cell (507) 6810-1074

We are pleased to announce that Panama Advisory International Group has been selected as Exclusive Agent representing the Seller.

Located on the Chiriqui coast, this property is just 24 kilometers off of the Pan American highway on the newly paved road that takes you to Sona and on to Santa Catalina. The property was developed before the road was paved and it is now positioned for immediate marketing as an ocean view community. With over 3 miles of roadways leading up a mountain, this coastal community has spectacular views out to the islands in the Gulf of Chiriqui. Much of the infrastructure is already in place including roadway, electrical and water systems making this an excellent investment opportunity.

Consisting of 78 hectares or over 193 acres of ocean view hillside land, the property has been subdivided into 90 home sites ranging from a little over 2,000 square meters to almost a full hectare or from half an acre to almost 2.5 acres in size. In addition, there is an area designated for a small commercial development in the future. The project is a private gated community with access to an additional 58 hectares or over 143 acres of land for future phases of development.

With a nearby marina and ocean access, this community’s location is front row to some of the finest fishing grounds in the world. Hannibal Bank, Isla Secas, Contreras and the world famous Coiba Island sit just offshore. Isla Coiba is just 30 miles away and is a designated UNNESCO World Heritage Site. It is the largest island off the Pacific coast south of Vancouver. It offers incredible diving, whale watching, coral reefs, hiking and wildlife exploration.

Record size Black Marlin, Yellow Fin Tuna, Pacific Sailfish, Wahoo, monster Snapper and more inhabit these waters from a 30 minute boat ride away to deep drop offs further offshore.

For a complete offering package, contact Tom Brymer tbrymer@brymerpa.com Thomas H. Brymer II | U.S.A. (305) 448-1003 | Panama Cell (507) 6810-1074

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Just Released: 2014 Panama Luxury Properties Report

Real EstatePanama continues to attract buyers who are spending $1,000,000 plus on properties in Panama City.

But where are they coming from and why do they choose Panama?

How do they find the properties they are searching for and what precisely are they buying?

Panama Equity's benchmark "2014 Panama Luxury Properties Report" is a 24-page compilation that identifies trends in the market by capturing data points from transactions published in the Public Registry, agent surveys, and in-house closed sales statistics.

Over the last four months Panama Equity's research staff has interviewed developers, buyers, and sellers in Panama City’s luxury market who have participated in $1M plus transactions.

The report pairs this wealth of previously guarded information with Panama Equity's 7+ years serving the demographic of luxury buyers and sellers.

The result? A report that is the first of its kind in Panama.

A few highlights of the report include:

  • Exclusive “Closed Sale” Statistics
  • Pricing Analysis By Neighborhood
  • Buyer Demographics
  • Case Studies
  • Complete Sellers Guide
  • Buyers Guide (Including Basket Of Goods Section)
  • What will $1,000,000 Buy You In Panama?

Click here to download the free report today: http://www.panamaequity.com/luxury-panama-real-estate-report/

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Government Will Tear Down 21 Old Buildings in Panama City and Colon

Real EstateThe Director of the National Project Coordination (Conapro), Lenin Villalba, reported on Tuesday afternoon that in the coming days, 21 buildings will be demolished in Panama City and Colon, the provinces with the largest number of buildings that are in poor condition. (more)

You've just hit a "pay wall." Panama-Guide subscribers who have logged in to their user accounts can see the full text of this article. However non-members can only see this short introduction. If you would like to subscribe, please click this link to subscribe via PayPal.

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Panama Equity: Real Estate Sales Database

Real Estate Anyone who has researched real estate in Panama knows that finding closed sales data is nearly impossible.

In an effort to fill that information gap and bring more transparency to the market, Panama Equity in 2013 partnered with several leading real estate agencies and leveraged its membership in the Panama Association of Realtors (ACOBIR) to create an ongoing reporting system whereby closed sales are documented and logged into a database:

Click Here For Free Access To Database

Panama Equity is pleased to announce that our database now has over 100 verified closed sale transactions published in its ever-expanding list, and is constantly adding more city-based closed transactions.

While this represents a very small portion of the properties being sold in Panama as a whole, it's proven to be a tremendously useful reference for sellers trying to get a sense of how to price their property and buyers wanting to know what properties are actually selling for. And historically speaking, Panama Equity's data segment accurately reflects larger trends as a whole.

Panama Equity's closed sales data comes in an Excel sortable format, and includes elements like the age of the property, neighborhood, size, and price per square meter of the property sold. As the list grows over time, pricing trends can be more accurately identified and conclusions drawn.

We also welcome anyone who has recently closed a property in the city to share the information on the transaction in an effort to achieve greater transparency.

Access is available by clicking on this link: http://www.panamaequity.com/panama-real-estate-closed-sales-and-pricing-statistics/

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New ANATI Director Will Revoke Questionable Land Titles Granted During (Corrupt) Martinelli Administration

Real EstatePanama's National Authority of Land Management (ANATI) will revoke land titles granted during the administration of former President Ricardo Martineli, that did not follow the correct procedures, warned the new Authority administrator, Carlos Gonzalez. (more)

You've just hit a "pay wall." Panama-Guide subscribers who have logged in to their user accounts can see the full text of this article. However non-members can only see this short introduction. If you would like to subscribe, please click this link to subscribe via PayPal.

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Save $180,000 this week on a Naos Harbor Island Loft !

Real EstateInvestment opportunity for anyone with $269,000 cash this week.

Now you can buy in Naos Harbor Island a 138 meter 3 level loft for $269,000 and it is ready to deliver this week.

After 10 years of struggle, the developer Marcos Shrem has finally completed this building and some of the original investors still want to run. While walking away from this project made sense for many years, this is not longer true. These are the original contracts which offered better terms than currently available from the developer, and at a far better price, as the developer's price for this unit would be over $450,000 and would have contractual requirements that are not in the original contracts.

Save $180,000 and get a better contract if you have $269,000 cash to offer this week to buy units from people who have been holding the contract for almost 10 years and just want to run.

This is the property:

PANAMA AMADOR CAUSEWAY HARBOR ISLAND LOFT

Sale Price $ 269,000.00 USD

1 Bedroom, 1.5 Bathrooms, Construction Area 138.68 m²

Location: Panama, Panama City, Amador Causeway

Contact us now at if you are seriously interested:

Premier Casa Panama

panamasales@premiercasa.com

Tel: PTY +507.6082.4652 / USA 929.227.4083

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Higher Real Estate Costs Makes Living In Panama City Unattainable For Most Panamanians

Real EstateThe development of Panama City in recent years has converted the city into a place so exclusive that 84% of the working population of the country has no chance of living in this area, where there are apartments costing more than one million dollars. (more)

Editor's Comment: Contains lots of good information regarding current wages in Panama City, real estate prices, etc...

You've just hit a "pay wall." Panama-Guide subscribers who have logged in to their user accounts can see the full text of this article. However non-members can only see this short introduction. If you would like to subscribe, please click this link to subscribe via PayPal.

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