Friday, December 21, 2007

Steps away from the Panama Canal and city amenities; a rare opportunity

Beautiful single-family home in the Panama Canal
area a few minutes from strip malls,
supermarkets, pharmacies, schools, and all the
amenities you may need. This exclusive
neighborhood of Quarry Heights in the reverted
areas was once reserved for U.S. military
officers and has undergone a complete
refurbishment between 1999 and 2005. The
location retains the surroundings with fauna and
flora typical of the rainforest at only a 10
minute drive to fine shopping centers and all
cities other amenities. The neighborhood
features tennis courts, hiking trails, 24/7 security.

This spectacular home is new having been built in the last 1.5 years

The home has the following:
· 2 extra bedrooms with their own bathroom
· Main bedroom with bathroom and Jacuzzi that
includes an additional space for a small office.
· New kitchen with all brand new appliances:
Fridge, Stove, Dishwasher, Washer/Drier and heater.
· 2 car garage with roof and open space for two more cars
· Ample space to design a garden or build a pool

This house is one of the few homes being sold in
this wonderful area. It is perfect for a family
looking for peace and quiet, with the convenience
of being 10 minutes away from the downtown center of the city.

Key selling points and investment justifications
• Halfway between Panama Canal rainforest preserve and urban Panama city
• High resale value because use as former base
ensures low density of single-home units

• Ideal for investment and personal use
• 5 minutes driving from commuter airport and Panama's largest shopping mall
• Newly rebuilt
• Located in neighborhood with high demand for single-family homes

Price and Size Range: EUR 335,222 300 m2 home in 1000 m2 plot

Consult with your real estate agent.

Sunday, December 16, 2007

South of the Border,The Market's Still Hot

South of the Border, The Market's Still Hot
Americans Find Second-Home Boom Endures; Wildlife in the Neighborhood

December 14, 2007; Page W12
The housing slump has sent many Americans shopping south of the border.
Existing-home prices in the U.S. dropped 4.5% in the third quarter from a year ago, according to S&P/Case-Shiller. But they are still climbing in much of Latin America and the Caribbean.

Interactive map:

2 Waterfront homes are cheaper in Latin America, but closing costs are different than the United States.

Buyers are being enticed by the kind of double-digit appreciation that has all but disappeared in the States. In addition, a growing number of new developments are targeting Americans looking for good deals and a lower cost of living.
Since 2003, annual home-price appreciation has been running at 20% in the Dominican Republic, and could reach 50% in the near future, according to Boomerang Unlimited, a Napa, Calif., real-estate investment advisory firm. In San Pedro, Belize, the average price of a 2,200-square-foot home was $697,500 in September, up 18.6% from a year ago, according to a study by Coldwell Banker; the price of a similar property in San Jose, Costa Rica, was up 20.7%, to $389,900, the study said.
Prices remain low compared with those in the U.S., particularly for waterfront properties. Because Americans generally buy and sell properties throughout the region in dollars, not the local currency, home prices don't fluctuate with the various exchange rates, as is the case in Europe. What's more, the dollar generally buys much more house in these countries than it does in the U.S., because labor and land are less expensive.
Still, the rapid appreciation is drawing growing numbers of bargain hunters, making good deals scarcer and causing some customers to look beyond the usual vacation hot spots. In the Dominican Republic, Century 21 broker Dean Brown says that 80% of his buyers this year have been Americans, compared with half last year. Softec, a real-estate consulting firm, says in the past three years, investments in vacation homes in Mexico, primarily by buyers from the U.S. and Canada, have shot up by 60%.
Americans' appetite for investment opportunities is helping to spur a building boom in some areas. In Panama, 170 residential-building projects are under way, mostly marketed to Americans, and 100 more are in the pipeline, according to Panama Legal, a law firm based in Panama City. Among them, a 1,500-acre resort and marina by Naples, Fla.-based developer Todd Gates. The project, on Isla del Rey, one of the Pearl Islands near Panama City, is slated to open in 2009 and will have condos, villas and single-family homes ranging from $275,000 to $1.4 million. "It's like Florida was in the '50s," Mr. Gates says.
Some buyers are buying sight unseen. Shams Deitrick, a Walnut Creek, Calif., financial adviser, recently bought a furnished, two-bedroom "ocean view villa" for $375,000 in Canto del Mar, a new 35-unit development in the southern Costa Rica town of Dominica; the project has already sold out. "All I saw was the Web site, which showed a sloth 30 feet from the unit, and monkeys everywhere," Mr. Deitrick says.
He snapped up the home on the advice of a gym buddy, who said his own Costa Rican properties have quadrupled in value over the past four years. Although Mr. Deitrick isn't looking forward to the daylong flight to Dominica when he visits for the first time in February, he says he's glad he bought the property: "It just doesn't make sense to buy in the U.S. right now."
Preston Thompson, a retired Clearwater, Fla., hospital administrator, hopes to make some money in the Dominican Republic as a "serial renovator," moving into homes, fixing them up, and selling them. In July, he bought a 2,100-square-foot house for $265,000 on the beach in Cabarete, quickly added $50,000 worth of improvements, and put it back on the market for $489,000. If the property sells, he and his wife plan to repeat the process.
Getting the house ready to sell hasn't been as easy as he anticipated, however. Subcontractors were hard to find -- only one firm in Cabarete (population about 15,000) could do granite countertops, for example -- and the quality of their workmanship was "hit or miss," Mr. Thompson says. Worse, neither he nor his wife speaks Spanish, which made communicating with the workers difficult. He's also concerned that Americans may be turned off by local health-care facilities, which he says are very modest. For all of its current popularity, he says, the Dominican Republic is essentially still a developing country. "You have to put up with inconveniences," he says.
Earlier this year, Geoff Folsom, a Thousand Oaks, Calif., businessman, bought a 4,500-square-foot oceanfront penthouse, with its own private swimming pool, in Trump's Ocean Resort in Playas de Tijuana, Mexico, a 30-minute drive from San Diego, Calif. He paid $3 million for the property, about half the cost of similar resort units he looked at in the States. Property taxes and maintenance costs are lower than in the U.S., too.
There are trade-offs, he says. The mostly undeveloped area outside the development's gates has few restaurants and hotels, and Mr. Thompson is concerned about recent news reports of armed robberies on nearby roads. Still, he anticipates that, as the area develops, appreciation rates will exceed anything he could get in the U.S. "You get so much better value south of the border," he says.
There are additional downsides to buying in this part of the world. The weather can be violent and unpredictable: Last month Hurricane Noel slammed the Caribbean, causing floods and mudslides, and leaving 147 dead. And insurance to protect against natural disasters, including earthquakes, may be impossible to obtain.
In addition, many foreign real-estate brokers are unlicensed and don't necessarily adhere to the business standards that Americans expect. Some, for example, encourage sellers to raise their asking price after American buyers have made a full-priced offer, even if no other bidders are involved.
Plus, not every place is a boom town. Seasoned real-estate brokers say that to be successful, developments need at least some amenities and should be within an hour's drive of an international airport.
Full text in

Monday, November 12, 2007

Nov 13 SLAM Argentina conferences in Buenos Aires

Tues., 11/13 Happy Hour Series @ Mendez Bar (Palermo) featuring a Special Presentation on "Buying Real Estate in Arg. For Expats" *RSVP REQUIRED*

Hi Everyone-

Upcoming Events:
Tues., 11/13 our Happy Hour Series continues on @ Mendez Bar in Palermo Hollywood (Honduras 5551) @ 7pm with the return, for the 2nd time, a SPECIAL Presentation on "Buying Real Estate In Argentina for Expats" by Javier Canosa, Business Attorney partner of Canosa Business Lawyers, who will provide us with a brief conference on real estate transactions in Argentina and we will have the chance to learn more about the following topics: Brief description of the real estate market in Argentina; its customary rules and difference with rules on other countries. What to know about investing in real estate in Argentina?

We will also be joined by special guests; Chris Grande of SLAM Argentina, an international real estate investor with 20+ years experience investing in various Latin American economies and US tax attorney, Mike Heimos of Mullin Dean & Heimos, who will speak about the best way to structure an investment in Argentina from a US standpoint. After all three presenters we will have some time for Q&A. We will be starting the presentations promptly @ 7:30, so arrive early as this one is sure to be VERY well attended.

C. M. Grande, MD, MPH, has an extensive background and experience in sophisticated international financial transactions. Because of his experiences in the area of investing in property in many different countries, he has focused heavily on the key aspects of essential ingredients to successful real estate ventures, in particular a detailed analysis of all phases of property management.
You can download the Powerpoint presentation from here

Martes 13/11 Serie de Happy Hour en Méndez Bar (Palermo) con una Presentación Especial sobre "Comprar Bienes Raíces en Argentina para Extranjeros" *ES NECESARIO INSCRIBIRSE*

Próximos eventos:
· Martes 13/11, Serie de Happy Hours en Méndez Bar en Palermo Hollywood (Honduras 5551) a las 19 hrs. con la presentación ESPECIAL sobre "Comprar Bienes Raíces en Argentina para Extranjeros" a cargo de Javier Canosa, Abogado Empresarial

Martes 13/11 nuestra Serie de Happy Hours continúa en Méndez Bar en Palermo Hollywood (Honduras 5551) a las 19 hrs. con la vuelta, ya por segunda vez, de la Presentación ESPECIAL sobre "Comprar Bienes Raíces en Argentina para Extranjeros" a cargo de Javier Canosa, Abogado Empresarial socio de Canosa Business Lawyers, quien nos va a dar una pequeña charla sobre inversiones inmobiliarias en la Argentina, y tendremos la oportunidad de conocer un poco más sobre los siguientes temas: Breve descripción del Mercado inmobiliario en la Argentina; sus reglas habituales y las diferencias con las reglas de otros países. Qué hay que saber al momento de invertir en inmuebles en la Argentina?

También nos acompañarán invitados especiales: Chris Grande de SLAM Argentina, un inversionista en Bienes Raíces internacional con más de 20 años de experiencia invirtiendo en diversas economías latinoamericanas; y el abogado impositivo Norteamericano Mike Heimos de Mullin Dean & Heimos, quien hablará sobre la mejor manera de estructurar una inversión en Argentina desde el punto de vista Estadounidense. Luego de escuchar a los tres presentadores, tendremos tiempo para algunas Preguntas y Respuestas. Las presentaciones comenzarán puntualmente a las 19:30 hrs., así que por favor lleguen temprano dado que esta presentación tendrá MUCHA concurrencia.

Wednesday, November 7, 2007

Single family home in suburban setting - for investment

Cardenas Village is a secluded quite neighborhood with a guard house located in the reverted areas between Albrook and Clayton. It is separated from the main highway by a winding road which cuts through rainforest. The neighborhood has public tennis courts, a soccer field, basketball court and near by pool.
This beautiful single family home had been custom built about one year ago, and is for sale by the owner.
The home features three levels with great architecture including a large living / dining room with large balcony, a large open island kitchen with breakfast room & den all together, a study with access to the rear terrace, and a full size visitor bathroom. Behind the property is a quite public park with trees and palms.
The upper level hosts a large master bedroom with a large private balcony. It has a beautiful bathroom with Jacuzzi-bathtub, shower, ‘his and her’ sinks and a large walk in closet. The other 2 bedrooms each have its private bathroom, one with bathtub & the other with shower. All rooms and bathrooms have fully installed closet furniture, the bathrooms feature additional towel closets. The hallway accommodates additional wall-closet’s and a linen room.
The service area has plenty of space including a storage room, large laundry with separate access to car port and yard, maids-quarter and full bathroom.
The home is equipped with electrical door and gate openers, security system, Central AC and many more features. The home just received the 20 year property tax exception of the construction (an approx. $ 12,000 savings a year).
Sale Price: $705,000. Single Family House. Bedrooms: 3 + maid's room. Bathrooms: 5.
Built Area: 428 m2, Total Land Area: 688 m2
Google Earth coordinates 8.999937, -79.559748
Contact your real estate agent.

Saturday, November 3, 2007

SLAM presents services before international real estate conference

Pamela Oakes, Managing Director of Street Level Asset Management (SLAM) Panama, delivered a presentation about its property management services before members of the International Real Estate Federation (FIABCI). Property management services are vital when protecting an investment in real estate.

FIABCI’s 2007 Congress of the Americas took place in Panama City 31 October – 2nd November. FIABCI is an international real estate federation of 100 real estate associations and represented by chapters in 48 countries, including FIABCI-Panama. The Congress was held at the Sheraton Panama Hotel and Convention Centre.

You can download the Powerpoint presentation from here.

Monday, October 29, 2007

Investment in condo with exclusive location

3 Bedroom apartment located in the exclusive neighborhood of Obarrio in the middle of of Panama's banking district. Available for leaseback investment.
250 square meters 3 bedrooms 3 bathrooms + half bathroom Maids quarters Fully fitted kitchen with white line & washing machine, gas water heating. Air conditioning units.
The apartment was refurbished in December 2006. Condo fees are of $200 per month.
Sales price: US$350,000 Condo. Bedrooms: 3 Bathrooms 3.
Consult your real estate agent.
Google Earth coordinates: 8.981732, -79.523335

Friday, October 26, 2007

Property Management Company - Hiring One

Hiring a property management company is a great idea if you have even a small apartment building. Having someone taking care of all the small details of a rental property means you'll have more time to find the next good investment. Also, trying to do it all yourself is the surest way to make your real estate investment experience a bitter one. To find a good property manager, ask the following questions.
1. Other properties they manage? It's best if they have rental properties that are similar to yours. You can also drive by their other properties to see how they are maintained.
2. The fee? They vary around the country from as low as 4% of gross rents for larger buildings, to as high as 12% for single family homes. Be sure the fee is clearly stated and understood.
3. Extra costs? Are showings extra? Do evictions cost extra (beyond the legal fees)? Any other extras?
4. Who actually handles your property? It's best if one person handles your building all the time, and has some experience. Get their name.
5. How and when is the fee collected? Will you be billed, or will it be deducted from your account directly? Monthly? Quarterly?
6. Type of advertising? Exactly how will they advertise the units and what will it typically cost you?
7. Time and cost to prepare units? What's the typical cleaning fee on a vacancy, and how long will it normally be before it's rented out again?
8. Type of accounting? Which types of reports do they send, and how often? How are accounts set up?
9. Their hours of operation? What are their business hours, and who takes weekend calls?
10. What needs owner approval? What dollar amount needs your authorization, and is this negotiable?
You should ask other questions, based on your particular needs and the particular property. Be sure to ask everything up front, and you'll have fewer misunderstandings, and a good manager. Real estate investing and being a landlord is a lot less stressful with a good property management company.
Steve Gillman has invested in real estate for years.

My status

Sunday, October 14, 2007

Villa in Panama City - Camino de Cruces area

Single home from € 963,000. Camino de Cruces, Friendship Road, close to El Dorado and new US Embassy. 2 levels, 406, 3 bedrooms, 3 bathrooms, maid r/b, large backyard with pool, surrounded by vegetation. In gated community with 24hr guard. Sold only with furniture.
Call +507 270-0864 or +507 6617-3321.

Features: Roofed Parking, Maids Quarters, 24 hour Security, Laundry, Storage, Garden or Park, Kids Park, Air Conditioner, Patio, Central Air Conditioner, Corner Property, Roofed Garage, Living room & Dinning room
Appliances: Refrigerator, Microwave, Stove, Dishwasher, Instant Hot Water Dispenser, Washer, Dryer
More pictures downloadable here
Google Earth coordinates 9.011289648163606,-79.54334242864977

Plans Lower Level

Backyard and pool

Living room and furniture

Saturday, October 13, 2007

Gated golf community at the best price

Private, gated golf comunity located in Penonome, capital of the province of Cocle, the geographical center of the Republic of Panama.
MIDPOINT VILLAS, GOLF & MARINA offers 3 types of beautifully-designed villas with spacious floor plans and well-maintained grounds, all just a short walk from the first tee of its 9-hole, par-3 course.
Models are :
KAPALUA 201.70 mts / 2171 square feet
ST. ANDREWS 231.86 mts / 2495 square feet
AUGUSTA 246.45 mts /2652 square feet
Consult with your real estate agent

Island property for sale at $16M

151 hectares (373 acres) of island property, close to David. Lots of vegetation, crystal-clear, ocean water, white sand beaches and tropical vegetation. 30-40 minutes by boat off the coast of Chiriqui province.
Only serious offers from interested parties.
Surface: 151 hectares
Consult with your real estate agent
This new 30-story corporate office tower is an ambitious masterpiece located in the heart of Panama City's banking district, at the intersection of Aquilino De La Guardia Ave. and 47th Street.
The building is equipped with state of the art technology and security and also offers:
  • 1100 parking spaces (You get 1 parking space for every 50 sq mts of office space)
  • Each floor has 1670 sq mts and its subdivided into 11 offices, each one with a bathroom.
  • Brings 11 modern high-speed "intelligent" elevators
  • Automatic fire sprinklers in all floors
  • Heliport
  • Access to fiber optic ring
  • Emergency backup generator capable of powering the entire building
  • Two pressurized emergency stairwells
  • Luxurious design with ultra-modern architecture
  • Double paned windows, that insulate the building from noise, pollution and heat.
    Bathrooms: 1, Surface: From 86 m2
    Consult with your real estate agent
  • Penthouse in heights of Panama City

    This property is located in Villa Las Fuentes, in El Dorado area very close to El Dorado shopping center, convenience stores, supermarkets and banks.
    The apartment penthouse has 220 m2, it has 3 bedrooms, 3.5 bathrooms, maid quarters and bathroom, laundry area, kitchen, Living room and Dinning room, spacious balcony and great views to the city.
    Property tax free until 2016.
    Maintenance fee is $232.32 USD
    Sale price: $190,000, Penthouse, Bedrooms: 3, Bathrooms: 3.5, Surface: 220 m2
    Consult with your real estate agent

    2 Beautiful 1 bedroom apartments with un-obstructed views of the Bay of Panama, Amador Causeway, Pacific Entrance to the Panama Canal and Panama City.

    The apartments are located on the 19th floor of the Bay Front Tower on Avenida Balboa, in the heart of Panama City. Each of the apartments boasts beautiful views of the Bay of Panama, and Panama City Skyline.

  • 96 m2 apartment with direct ocean views is: 290,000 USD
  • 98 m2 apartment with indirect ocean views: 195,000 USD
  • 1 bedroom with walk-in closet and master bath
  • 1 visitors bathroom
  • Open kitchen with granite counters
  • Laundry room/pantry off of the kitchen
  • Floor to ceiling windows with outstanding and direct views of the ocean
  • Balcony
    The social area of the building is very modern and complete and includes a swimming pool, bar, work room with variety of machines and bikes, and sauna.
    Bedrooms: 1, Bathrooms: 1.5, Surface: 96 - 98 m2
    Consult with your real estate agent
  • Family home duplex in residential downtown location

    Big duplex for sale, close to the biggest hospital in Panama.

    The first floor consists of an ample living and dining room, large kitchen and laundry area, maid’s quarter with its private bathroom; also, it has small garden with a big terrace, jacuzzi and a family room.

    The second floor consists of an extensive master bedroom with a big bath and walk-in-closet; a studio, and two additional bedrooms with 1 bathroom.

    On the main entrance, it has a foyer with a visitor’s bath, and garage for three cars.
    Sale Price: $225,000, Bedrooms: 4, Bathrooms: 3.5, Constr. Area: 325 m2, Total Area: 350 m2
    Consult with your real estate agent.

    Thursday, September 27, 2007

    Choosing property management services in Panama

    If your investment in Panama is a
    City condo

    City home

    Beach condo

    Beach home

    Mountain retreat

    Our full service company can guarantee your investment is well taken care of without your having to fret or being involved on a day-to-day basis.

    If your investment is for your permanent use, temporary use, or for leasing, we have the service you need.
    For your investment we offer:
    Service lots water and electrical connections (where available)


    Architectural plans

    Building permits



    Interior decorating


    Our services are of the best available at prices that are truly the best you can find.

    We also assist in seeking counsel for worker disputes and or compensation claims. Products are used as per your specifications.

    Our premier program includes:

    City properties
    Key holding, Property management and administration, Rental management and marketing

    Beach property (3 hour radius from Panama city)
    Key holding, Property management and administration, Rental management and marketing

    Mountain home (3 hour radius from Panama city)
    Key holding, Property management and administration, Rental management and marketing

    Additional services include:

    Cleaning services
    Laundry and cleaning

    On a per need basis we also offer:
    Home improvement, decoration, interior and exterior painting, swimming pool maintenance, gardening, handyman jobs, locksmith service, lamps and light fixture installation, wall fixture installation, electrical troubleshooting, air conditioning installation and maintenance.

    If a service needed is not included in our list, feel free to ask for it.

    Monday, September 10, 2007

    Mountain lot provides investment opportunity close to the city

    Los Altos de Cerro Azul is located just thirty minutes from Panama's Tocumen International Airport and less than an hour from downtown Panama City along the Corredor Sur toll road. It is situated on over 20,000 acres of old growth tropical rainforest. On a clear day in Los Altos de Cerro Azul you can view both the Atlantic and Pacific Oceans. The project is built at 2,500 to 2,700 feet above sea level with temperatures that range between 70 degrees and 80 degrees during the day and coolly comfortable at night. Altos de Cerro Azul is a gated community with 24-hour security, a country club with pool, tennis courts, beautiful tropical flowers and an excellent restaurant. In the surrounding forests you will find exotic birds and wildlife unique to Panama, as well as, a well-developed network of hiking trails that will take you through one of the oldest cloud forests in the Western Hemisphere. In the cloud forest you will see palm trees that can be seen only in a very few places in the world and they are spectacular. Much of Cerro Azul is within the Chagres National Park, a 300,000 acre protected national reserve. It is not uncommon to see howler monkeys, flocks of parrots, toucans, raccoons, sloth's, red and gray squirrels, and white tailed deer.
    In addition to the stunning natural beauty of Altos de Cerro Azul, there is high-speed satellite Internet, Direct T.V. and modern electricity and telephone services, as well as, the best drinking water in Panama. There are more than 2,000 lots in the project, many offering spectacular views and all of them offering a fantastic mountain setting.
    Featured by New York Times Travel Section in "
    In Cerro Azul - Panama, a Home in the Mountains"

    * 4747 sq m, located in Cerro Azul west of Panama City, north of airport
    * Within a gated and guarded (24 hours per day) mature development
    * The lot is bordered on two sides by first growth jungle of the Chagres National Park
    * Hiking trails, scenic outlooks and waterfalls to explore
    * Heavenly highland temperatures -- maximum of low 80s during day, high 60s at night (ideal for sleeping) -- no air conditioning needed here
    * Official topographical map included with our lot for free as well as preliminary house plans if desired -- have solid recommendations for both an architect and builder
    * Lake View
    * Mountain View
    * Mature Development Within The Chagres National Park
    * Telephone, Cable Tv, Internet Available
    * Exotic Birds, Animals, And Flowers Everywhere
    * Members Club With Tennis Courts, Pool, And Restaurant
    * Located Just 50 Minutes From Panama City
    * Only 40 Minutes From Tocumen International Airport
    * 25 Minutes From Three Large Super Markets
    * Google Map:
    here View Larger Map
    Sale price: $98,500.25

    Consult with your real estate agent

    Monday, July 23, 2007

    Amador lots facing the Panama Canal for sale SEPTEMBER 14

    The NGO Fundacion Amador, in charge of building the Museum of Biodiversity, is currently opening a private bid process for the sale of 19.03 acres. Both lots are located facing the Panama Canal, alongside the Museum, scheduled to open in 2009, and designed by architect Frank O. Gehry. Only prequalified buyers who follow the Terms of Reference are allowed to submit proposals for the September 14 bid.

    For more information, contact SLAM Panama.
    Google Earth coordinates 8.931774348224097,-79.54500850855362

    Sunday, July 15, 2007

    Property Management by Street Level Asset Management (SLAM)

    SLAM provides management, leasing and other services for investors with real estate in Panama and other countries.
    For more information on how to get better returns from your properties abroad, contact Street Level Asset Management (Panama), S. de R.L.

    Contact Information
    Email : info
    Tel:+507 66388707
    Address : Ocean Plaza, 47th Street, Aptdo. 0831-01110
    Fax +507 3406446
    Panama City Panama
    Google Earth coordinates 8.977084703054178,-79.52287043255014