April. 3 , 2006 Kathie

Paris, France

Dear International Living Reader:

Second chances can be hard to come by, but sometimes they land right in your lap.

Just ask Dan Prescher, our roving Latin America property scout.

He and his wife, Suzan Haskins (our Latin American Editor), spent a week on the ground in Panama hosting and covering our Live & Prosper in Panama Conference last February.

Like the rest of our 160+ participants, they heard from a lineup of expert local resources about the incredible tax, banking, and retirement benefits of Panama. They accompanied several dozen of our conference attendees for three days of touring some of the most attractive projects and developments in the country up close and personal. They even knew that, as Club Panama members, they could have saved an additional 1.5% on property they purchased from participating developers.

And they’re actually planning to move to Panama sometime this year.

Not that Dan and Suzan are planning to retire…far from it. But like all of us, they’re looking for that magic combination of exotic locale, affordable lifestyle, and modern infrastructure. No matter what you do in life, you have to do it from somewhere, and there are places in the world that have that magic combination going for them.

Panama is definitely one of those places as far as I’m concerned.

But although Dan and Suzan had the motive, the selection, and the opportunity--they still don’t own anything in Panama.

Dan says it best…”What was I thinking?”

Fortunately, sometimes you do get a second chance. Dan will get his when we send him back to Panama in April. In his capacity as our Latin American real estate scout, we’re asking him to put together a selection of some of the top projects and developments in Panama City and up the Pacific coast, then lead our Panama Real Estate Tour--a focused, four--day look at some remarkable real estate opportunities in one of the world’s top tax and retirement havens.

It’s a chance that you may want to take advantage of as well--if you’re looking for those three magical qualities I mentioned above. If so, read what Dan has to say below.

Kathleen Peddicord

Publisher, International Living


International Living's Panama Real Estate Tour International Living Logo

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Dear International Living Reader:

The word is out, and it’s “ Panama.”

If we needed any proof that this little country is garnering big interest, it was our Live and Prosper conference in Panama City held last February. The event set a new IL attendance record, and as the host of the conference, I got a chance to see nearly 170 smart people take a hard look at some very attractive lifestyle and real estate options in this tropical tax haven.

The lifestyle attraction of Panama City itself was obvious to all of us at the event. In fact, Panama City is really three intriguing cities in one. Panama Viejo is where the city was original founded, a place where you can still find the ruins left by pirate Henry Morgan when he looted, sacked, and burned the place to the ground in 1671. Now that’s history.

After the looting and sacking, Casco Viejo was founded in 1673, and it looks like a cross between Barcelona and The French Quarter in New Orleans. This is where International Living bought a large old colonial shell and renovated it into our Panama offices and a number of rental units. When our office staff and guests venture into the streets for lunch and dinner, it’s like being in the 17th century…but with 21st century amenities.
Casco Viejo
Then there’s the modern, cosmopolitan area of Panama City--home to hundreds of skyscrapers and the conveniences North Americans expect. Panama City is a world-class metropolis full of top-drawer shopping, dining, and a host of choices in entertainment. There is nothing third-world about living and doing business here.

Outside the city, Panama’s Pacific beaches stretch along the coastline like a buffet of palm-studded, sun-drenched bonbons just begging to be sampled. Some of you will recognize names like Playa Bonita, Gorgona, Playa Serena, Coronado, Playa Blanca…the list is long, and the beaches are gorgeous by any standard.

Islands

I’ve seen Pacific coast beaches from Mexico to Peru, and I’ve SCUBA dived all along the Caribbean and Central American Atlantic coast. It takes a lot to impress me when it comes to beaches.

Panama has great beaches. Long, wide, sandy, gently sloping.

Beautiful. But the real estate options…ah, that really put the shine in our attendees’ eyes, including mine. I saw for myself the huge variety of properties on offer here during the optional real estate tours after our conference.

This wasn’t just a buffet. It was an incredible smorgasbord of beach-front and beach-view condos, ultra-modern downtown lofts, golf course villas overlooking lush fairways and greens, breezy home sites with vistas of sea and sand, custom houses of exotic hardwoods nestled on cool, wooded highland lots.

And many of these properties were pre-construction offers that included significant discounts for buying from plans.

It was enough to get a guy thinking…

I’ll give you some specific examples of the deals we saw in a moment, but first I want to confess…I came away from that conference without buying anything myself.

How, I don’t know. I guess I was working, hosting the conference, had other things on my mind. But my wife, Suzan, and I have been looking for something in Panama for a while now, and for some reason, I sat there during the optional real estate tours after that conference and watched deal after deal go by.

I’ve kicked myself several times in the following weeks. I’m happy to say, though, that now I can stop kicking and start planning again.

What others are saying about today’s Panama…

“While Costa Rica is a great success story, it is hardly an undiscovered gem. That description may apply more outside its southern border in Panama.” While Costa Rica is a great success story, it is hardly an undiscovered gem. That description may apply more outside its southern border in Panama." - London Financial Times

 

International Living is sending me back to Panama to host a new, exciting, and very unique event.

From May 4 to May 7, 2006, the staff of IL’s Panama office and I will be taking an exclusive group of participants on the Panama Real Estate Tour, a dedicated, real estate-only tour of some of the best projects and developments in Panama.

City

It’s such a good idea that it’s hard to believe we haven’t done it before--a no-frills, straight-to-the-point shopping trip to one of the top all-around living and retirement destinations in the Western Hemisphere.

"Panama is the new Central American bargain, where the U.S. dollar – the market currency – goes a long way. The country ranks second only to Switzerland as a tax haven…” - Conde Nast Traveler

" Panama is the most beautiful destination in the world and almost undiscovered." - Harper's Bazaar

“…An undiscovered tourist paradise.” - Boston Globe

 

Like the snowboarders kept saying during the Winter Olympics…I’m stoked.

This event is going to be extraordinary, and I’m personally looking forward to it for several reasons.

First, few organizations are better qualified to mount a tour like this. International Living has been investigating, exploring, and writing about Panama for years now. We covered the story so closely in fact, that we decided to become part of it and open an office there.

Second, few people are more qualified to put on a tour like this--our on-the-ground staff in Panama know the place inside and out. You’d be hard pressed to find a crew of more knowledgeable, energetic resources, and everyone of them lives in Panama full time.

And third…I get to go back myself. I like Panama. And I’d like you to join me there for a focused, concentrated, first-hand look at some of the best real estate opportunities this amazing little country has to offer.

Here’s how it will go.

On May 4, we’ll get registered in the morning at the Intercontinental Miramar Hotel. Then we’ll spend the first day getting the straight facts about the legal and financial in’s and out’s of Panamanian real estate and expat benefits, including:

No-nonsense explanations of the several ways to structure property ownership in Panama--including through your own Panamanian corporation.

The personal advantages to you of Panama’s position as one of the leading, and most private, banking and financial centers in the world.

A significant real estate tax holiday when you buy anywhere in Panama…plus you can import materials, furniture, equipment and vehicles tax-free for 20 years.

An investment in Panama’s reforestation effort that can earn you money and qualify you for Panamanian residency at the same time.

All of the information we’ll give you during this initial session will be Panama-specific--including overviews of some of Panama’s most impressive real estate projects and developments, straight from the developers themselves. They’ll be there to answer any questions you may have about their plans, prices, financing, construction--you name it.

And that’s all we’ll do the first day. We won’t have breakout sessions or presentations on French leaseback schemes or How To Make A Million Dollars Selling Lawn Clippings On Ebay. Just opportunities in Panama, plain and simple.

(There will be a cocktail party that evening, but that’s in my contract.)

Then, bright and early the next day, we’ll hit the road.

For three days, we’ll steep ourselves in the real estate wonderland that is modern Panama. Three days of getting up-close and personal with some of the most attractive real estate in this very attractive market. Direct and to the point.

You can CLICK HERE right now to see the official itinerary and sign up for this unique event. But if you’re curious, I’ll give you just a few examples of the kinds of opportunities I saw last time I was in Panama.

(Here’s the caveat…to say Panama is an active market is like saying Tokyo is a big town. Some of these deals will have been snapped up by now. But there will almost certainly be just as many deals to replace them. On our upcoming tour, we’ll be on the ground and seeing a selection of the most current offerings in real time.)

Grand Bay Tower in Panama City. On Balboa Avenue, fronting Panama Bay, in the heart of the financial district, 1,291 square feet of ultra-modern condo with amenities including a rooftop swimming pool, covered terrace, sun deck, two bars, garden, exercise room, game room, dressing room and sauna and a reserved parking space starting at $250,000.

“Long overshadowed by eco-tourism heavyweights Costa Rica and Belize to the north, Bocas del Toro is starting to emerge as the newest star in the eco-tourism pantheon.” - Gannet News Service

“…a group of like-minded Americans, lured by cheap land and a government aware of the fragility of its natural resources, are creating a new version of the Gold Coast, a Riviera with an eco-friendly agenda…” - New York Times

"…blissfully pristine and low-key…It's a trip back in time." - Men's Journal

 

The Emerald in Marbella, an upscale neighborhood in Panama City known for great restaurants, hip nightclubs and its central location. The Emerald will be made of two connected 28-story towers of one-bedroom and studio apartments, ranging in price from about $100,000 for a 1,259 sq. foot studio to about $140,000 for a 1,615 sq. foot one-bedroom apartment.

Loft 41 in the Punta Pacifica development on the bay in Panama City features modern New York-style loft apartments in a 35 stories tower with splendid views of the Pacific Ocean, Italian marble, balconies and private parking at prices ranging from $172,850 to $207,350.

Tucan Country Club & Resort is just minutes from Panama City across the Canal, nestled in lush forests but with stunning views from high points of downtown. Tucan is anchored by a 72-hole championship PGA course designed by Jeffery Myers.

When completed, Tucan will feature 500 residences include luxury villas, town homes and terrace condominiums. Condos will start at $198,00 and villas will start at $342,000.

Tucan
Playa Serena Playa Serena at Gorgona Beach will be the site of the new Playa Serena beachfront condos. With more than 230 ft. of beachfront, there will be two 20-story towers with four condos per floor (78 condos in each tower) ranging in size from just under 1,200 square foot to around 1,350 square foot. Pre-construction prices start at $132,000 and go up $1,000 per floor.
   
Vista Mar Golf and Resort Community is justfour miles further down the road from Playa Serena. There is an elegant Beach Club, upscale restaurant, pool, and white-sand beach. The par-72 championship golf course is under construction and scheduled for play for spring 2006. Custom villas start at $195,000, and the Las Olas condominiums are currently under construction and will offer golf course and ocean views. Vistamar

A 1,700-square-foot unit with two bedrooms, two-and-a-half baths, and a balcony starts at $247,000. At the luxury end, you can spend more than $700,000 on a 3,900-square-foot penthouse, which comes with its own 3,400-square-foot terrace.

Playablanca Playa Blanca, with its incredible mile-long stretch of fine, white-sand beach, is a thriving, high-occupancy resort of sparkling swimming pools, four restaurants, several bars, a night club, boutiques, and nightly shows. A three-bedroom, 2,500-square-foot, Mediterranean-style villa costs $180,000; condos start at less than $100,000. Apartments in Villa Azul (the newest phase at Playa Blanca) feature two bedrooms and 1,160 square feet of living space for an average price of $99,800 including appliances.

As I was sitting here writing this, it suddenly hit me. A tropical paradise that actually welcomes foreigners with tax and residency incentives. A world-class city with all the services, entertainment and living options imaginable. Miles and miles and miles of gorgeous beaches with more ownership opportunities than you can shake a stick at--all at a fraction of the cost of anything comparable on either coast in the U.S.

And the last time I was there, I didn’t buy a thing.

What was I thinking?

It’s not like Panama is an unknown or insecure market. The U.S. has had a major presence there for more than 100 years. International Living has already bought and remodeled and is running a business there. Expats taking advantage of the tax and residency perks are moving there from all over the world.

They use the U.S. dollar, for heaven’s sake! How could it be any better?

Ah, I almost forgot…how about a 1.5% discount on real estate?

Everyone who attends our upcoming Panama Real Estate Tour will automatically become a member of Club Panama. Membership in this exclusive “concierge club” gives you access to a full team of in-country, on-the-ground, experts in Panama, along with extensive discounts on travel, accommodation, entertainment, and much more.

The “much more” in this case is an extra 1.5% discount on the purchase of property at some of Panama’s best residential projects…including every one that I mentioned above.

I’ll say it again…I’m stoked.

I have a feeling lots of other people are going to be excited about this event as well, and I can see it filling up fast. My advice…reserve your spot now while slots are still available. Included in the cost of this tour is 5 nights’ hotel stays, 4 lunches and 1 dinner. Signups for this unique event are on a first-come, first served basis, and to keep things manageable, we’re limiting the size of our group to only 40 participants.

To reserve your place for our Panama Real Estate Tour May 4th to May 7th, 2006, click below now or contact Patricia Goltry, Conference Customer Service Representative, today at tel. +1 866-381-8446 (USA & Canada toll-free) or +1-410-230-1243 or email: conferences@internationalliving.com.

This is the event to attend for anyone serious about finding opportunities in Panama while the boom is on and the selection is great.

Don’t miss this opportunity. CLICK HERE to sign up now, and I’ll see you in Panama this May.

You’ll know me…I’ll be the tall guy who keeps scanning his wife’s Ideal Panama Property check list at every stop while resisting the urge to play in the surf.

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Dan Prescher

International Living Latin America Property Scout