Monday, March 15, 2021
Dear Your Overseas Dream Home Reader,
We have something incredible in the works this week…
An opportunity to own a fully furnished, turn-key, rental-ready condo on the nicest beach within an hour of Panama City from just $112,000.
That’s an insanely low price…
The furnishings alone are worth $15,000. Factor that in and your price looks more like $97,000.
This buys you a luxury condo of 617 square feet, including terrace. The smart design of units and furniture will give your condo a very spacious feel. You have an open kitchen-living area, a main bedroom and another room perfect for an office or a cinema area and pull out sofa-bed…
I predict your condo will be worth $250,000 five years after delivery, meaning your potential for profit is a truly enormous $138,000.
Best of all, when you’re not using the condo yourself, the onsite rental management will take care of everything and send you the rental checks.
Owning a luxury condo in Playa Caracol sets you up to profit greatly as Panama grows into its role as a major world hub. Because Caracol is going to be the hottest beach community on Panama’s Pacific Riviera…and it’s the closest, nicest beach to an emerging global hub city…
For 14 years, Panama City was home to my senior researcher, Margaret Summerfield. For someone who has scouted more of the world that anyone I know, that’s about as high an endorsement as you’ll find.
She chose it as her base because of its international and cosmopolitan… safe and stable…friendly and welcoming…
Known as the “Hub of the Americas,” Panama is perfect for someone who travels as much as Margaret. As she says: “Its international airport has great flight connections across Mexico, the Caribbean, the U.S., Canada, and Europe. It gave Panama the edge over some of its neighbors that don’t boast the same connectivity.”
Now, Margaret is searching for a place to live in Europe. And while she scouts Portugal’s sunny Algarve and France’s glitzy Côte d’Azur, Panama remains her yardstick as the ideal base.
Back in January, Margaret explained the three things about Panama she missed most. In case you missed it, I want to share it with you here today…
Read on…
Wishing you good real estate investing,
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Ronan McMahon, Real Estate Trend Alert
3 Things I Miss About Panama
By Margaret Summerfield
After more than a decade in Panama, I’m back in Europe, looking for a new base. I still love Panama. The reasons why I chose it as a base back in 2007 are still the same. It’s an amazing, internationalized destination, with a lively and fun capital city, a global perspective and a strategic location in the Americas.
The move back to Europe is to be closer to family. Although Panama has great flight connectivity (you can fly to Miami in a couple of hours, Houston in four), it’s still a long-haul flight back to Europe.
However, now that I am back in Europe, I’m already missing some of Panama’s many attractions…
#1. The Weather
For almost 14 years, I didn’t have a winter wardrobe. I didn’t need one. With a warm, tropical climate, Panama City is never cold. The temperature is in the 70s F at night. By day, it climbs to the 90s F. There’s no fall, no spring. You can enjoy the beach all year, even in December. There’s plenty of sunshine for that feelgood factor all year round, too. The Algarve is reportedly one of the warmest spots in Europe in winter, but we’ve had a cold snap across Portugal for the last few days, and it’s dropped below 40 F at night. I’d happily trade that for the tropics any day of the week!
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#2. The People
One of the reasons I stayed in Panama so long was definitely the people. They’re friendly, welcoming, charming. Everyone chats to you–taxi drivers, wait staff, folks you meet at cafes and restaurants. You can quickly build up a social network, a mix of locals and expats. There are book clubs and film clubs to join, cyclists’ clubs and soccer clubs, Elks Lodges and Shriners and Lions Clubs, and plenty of volunteer opportunities.
Panama is also a true melting pot, where people from all over the globe meet…different cultures, different creeds, different cuisine…and everyone gets along. Panama makes it easy for folks to move there, live and work there, set up a business there. And its buzzing economy and strategic location attract entrepreneurs from around the world. You meet professionals working for NGOs, owners of boutique hotels and little start-ups, senior managers with multinational businesses that are household names…as well as creative and artsy types.
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#3. The Hub of the Americas.
One reason for choosing Panama was its flight connectivity. With lots of work-related travel, and trips back to Europe to visit family, I wanted to have good flight options and as many direct flights as possible. Panama fit the bill. Known as the Hub of the Americas, it offers direct flights to more than 80 destinations across Central, South and North America, and the Caribbean. I could fly direct to Miami, Houston, New York, Los Angeles, Las Vegas, Toronto…Santiago, Jamaica, Buenos Aires, Cancun, Montevideo…you name it. And there’s direct flights to Paris, Amsterdam, Frankfurt, and Madrid.
But outside of work, this connectivity had other benefits—easy access to dreamy destinations for vacations. I took advantage of discounted fares to go to places that were a short hop from Panama for a couple of hundred bucks—places like Cuba, Barbados, Aruba. These exotic destinations are much harder work from Europe, with long-haul flights that are much more expensive. My planned return trip to Barbados will have to wait a while…
Your Comments and QuestionsGeorge says: This looks like a great deal and I think we should buy into it–one quick question: What are the expected occupancy rates over the next few years and what would that translate into rental income? Looking forward to hearing from you and details on how to buy in. Thanks very much! Ronan says: Hi George. As we are the first to buy here, we need to allow for a couple of years for the community at Playa Caracol to become an established destination. That’s when I expect the rental income to kick in…40% occupancy at $110 a night for the condos we can buy from $112,000 is $16,060. That’s gross, you will have some costs…but also plenty of time to enjoy the property for yourself. And your condo will also come with onsite rental management. They handle bookings, the renters, even the cleaning…you just sit back and watch the income roll in. Connect with Ronan on Instagram |
