Today's comment is by Suzan Haskins, the Conference Insider for International Living.
Dear A-Letter Reader:
Like the pioneers crossing the American west back in the 1800's, our caravan set out in search of opportunity in a new land.
We weren't in covered wagons, though. Nor were we headed anywhere dangerous, undiscovered, or lacking modern amenities.
We traveled in style...in two comfortable, air-conditioned coaches, and we were off to tour real estate for sale along Panama's beautiful Pacific Coast.
At our resort-and-spa hotel, just 25 minutes west of Panama City, we were treated to an exquisite breakfast in the air-conditioned clubhouse overlooking the emerald ocean and a spectacular stretch of powdery beach.
"Wow," is the only word to describe this luxury resort. The 300-room hotel, with its restaurants, bars, swimming pools, and beach club, has just opened for business and its owners wanted to give us a first look at the facility. A residential village is planned--details are still in the works--and our group enthusiastically signed up to be among the first to receive word when plans are finalized.
This was just the start of two full days of real estate fever.
Our mid-morning stop was an excellent early-in condo opportunity high on a ledge with expansive views of the ocean. Located on a beach, a popular weekend getaway for Panama City residents, this project is a little over an hour from the city. Here, two-bedroom condos start at $132,000, and will offer ocean views from balconies and floor-to-ceiling windows.
At our next stop, lunch was prepared by the resident French chef. We toured the condos and model homes perched on terraces overlooking the ocean and we saw the layout of the 18-hole golf course being built here. When it was time to leave, at least one couple stayed behind to sign sales agreements.
Our overnight stop was where things really heated up. As we stepped off the buses, we were greeted by the Panamanian dance troupe that performs nightly in the amphitheater here. They shook, we shimmied; but all too soon, it was back to business, to see the models of new condos being built here.
Our host was a very popular man when he offered to cut prices on remaining units by $5,000. Prices started at less than $95,000 for a two-bedroom condo. That night, after cocktails, dinner, and fire twirlers on the beach, more than a few of our group drifted off to get down to deal making.
As one IL reader from Memphis said, "This is a no-brainer."
The next morning, after a good night's sleep and a plentiful breakfast, we were on the road again.
This second day of touring was devoted, for the most part, to resale opportunities. We saw at least 10 properties...from condos to houses to raw land...priced from $95,000. No one was disappointed.
Besides the incredible prices and the stunningly beautiful beaches, you could feel the excitement in the air...
Suzan Haskins
International Living's Conference Insider
www.internationaliving.com
Editor’s Note: The above commentary originally appeared as an editorial in International Living’s daily E-Letter. To learn more about International Living’s travels in Panama, visit www.internationalliving.com. If you're interested in visiting Panama yourself, The Sovereign Society will host our Total Wealth Symposium in Panama next month. Click here for the full details.