Wednesday, August 20, 2008

Pamela Oakes from SLAM to speak about “Managing Your Second Home in Panama” at AIREEC

Street Level Asset Management (SLAM) Panama Managing Director, Pamela Oakes, will speak at the American International Real Estate Expo & Conference (AIREEC) - "The Business of Global Second Homes and Resorts" - in Los Angeles

LOS ANGELES--Street Level Asset Management (SLAM) Panama Managing Director, Pamela Oakes, will speak at the American International Real Estate Expo & Conference (AIREEC) on Sunday, Sept. 7, 2008, at 10:30 a.m. PDT. The conference will be held Sept. 5-7, 2008 at the Los Angeles Convention Center in Los Angeles, CA.

Ms Oakes will speak about “Managing Your Second Home in Panama”. She will explain the different options available to investors seeking to purchase and finance a second home in Panama and will provide recommendations for families who will move to Panama part of the year. Slides of the presentation may be downloaded from the company blog Additional information on Panama will be available from Sept. 5 for participants at booth E09 of the Central America section of the AIREEC exhibition.

AIREEC is a continuation of its ground-breaking maiden event in Manila, Philippines in December 2007. This year's theme is "The Business of Global Second Homes and Resorts" which responds to the tsunami of aging baby boomers entering their retirement years and the emerging "new rich" market from developing countries. Over 60 world renowned speakers, experts and leaders will talk about trends, updates, solutions, choices and options on the emerging "fad" of global 2nd homeownership and 10,000 attendees are expected from over 30 countries around the world.

About Pamela Oakes
Pamela Oakes has more than a decade of property management and relocation experience in Panama. Prior to living in Panama, Pamela lived in the United States, Sweden, Argentina and Chile and has traveled extensively throughout the United States, Latin America and Europe. Pamela has a Bachelor's degree in Political Science and Spanish from Drew University of Madison, New Jersey and studied for a Master's degree in International Politics at American University in Washington, D.C. Pamela has delivered presentations at numerous international conferences on real estate investment, relocation and property management issues in Panama.

Pamela has been an active board member of several non-governmental organizations in Panama including the Friends of the Children's Hospital and the American Society of Panama. In 2005, she received the "Distinguished American Citizen Award" from the United States Ambassador in Panama, the Honorable Linda E. Watt.

About SLAM Panama
Street Level Asset Management (SLAM) Panama is a full-service property management and relocation company based in Panama, dedicated to management of properties for foreigners investing in Panama real estate. SLAM services complement the after-purchase needs of clients by ensuring the preservation of their real estate investments. Additionally, SLAM works along with the law firm of Lombardi Aguilar & Garcia to assist in securing relocation and private client services for property owners moving to Panama.

.If you cannot see the presentation, click the link below to watch "AIREEC Panama":

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Thursday, August 14, 2008

The Great Panama City Land Rush

Panama City land increases by more than 100%

Now you see it...
Now you don't ... Demolitions continue in the San Francisco neighborhood
during the Panama City real estate boom to give way to new condo buildings
Business weekly Capital Financiero of July 28 quotes the magazine Espacios which says that areas such as Bella Vista, Balboa Avenue, and San Francisco have seen their footage prices increase by more than 100% in only 3 years.
For example, for 2005 the square meter in Balboa Avenue was under $1,000 ($92/sq ft) but sales have been registered now for $5,000 ($464/sq ft).
While in the sector of Bella Vista the cost of square meter varied between $350 and $400, but currently have been sold at almost $1,000.
The magazine states that $300/square meter were paid for San Francisco several years ago but now they reach $700 to $800 ($74/sq ft), with some estimates running into $1000. In suburban Las Cumbres, where 50 years ago land could be bought for $7 / square meter, its price has risen to $40-$50 / square meter.
According to a report by real estate company CBRE, the square meter of condos in Marbella, Bella Vista and San Francisco South) rises to $1,847 ($171.65/sq ft), the oceanfront (Balboa Avenue, Paitilla and Punta Pacifica) is at $2,335 ($217/sq ft) and the central area (El Cangrejo, San Francisco North) is at $1,463 ($136/sq ft).
Single-family homes in the San Francisco and Bella Vista areas are being purchased by local speculators who later resell at a higher price to developers who rezone several plots of land for multiple-story condos. Demolition crews are sharing the streets with soil landscapers rushing to end their construction before the deadlines set by property tax holidays.

Thursday, August 7, 2008

Panama savings bank sells off properties

The Caja de Ahorros is a government savings and loan bank. This August 11, 2008, the bank will be holding an auction of properties mostly located in Panama City. Unlike another government-owned bank, most have potential for eventual rental to the local market or for developing tourism projects.

Among the properties being auctioned are:

135 m2 / 1454 ft2 Condo in Pelican Bay, 2nd floor, San Francisco section of Panama City, offered at US$112.262

49.1 m2 / 528 ft2 Condo in Plaza Madrid, 7th floor, San Francisco section of Panama City, offered at US$31,247

230.14 m2 / 2476 ft2 Single-family home in 72nd Street, San Francisco section of Panama City, offered at US$216,558 (!!)

Each property is sold "as is" to both foreign and local bidders alike. The last day to receive offers is August 11, 2008 at 9 AM.

For more information on how to bid for these properties, email properties

Sunday, August 3, 2008

Between Mountains and Beach

Situated in the foothill of Campana Mountain, this community offers the best of both worlds with easy access to the beaches and mountains. This exclusive project offers breathtaking mountain views from its retreat holiday villas surrounded by mature mountain trees. This spectacularly located resort is a mere 1 hour from Panama City ensuring that it will be a preferred destination for locals and foreign investors alike, for years to come.

These fabulous villas offer all the luxury features in demand from investors at a substantially more affordable price than similar beach and gated communities in the surrounding area. Offering 3 beautifully designed villas, the Andes, Alpes and Everest, with spacious floor plans and meticulously maintained grounds, residents will enjoy VIP treatment at the fitness centre, swimming pools, ecological path, and Club House in the exclusive social area.

This resort area offers many local services including a supermarket, hospital clinics, veterinarians, and excellent restaurants. With Panama's best golf courses just minutes away, you will also find excellent sports facilities including water skiing, horseback riding, and numerous children's attractions. All of this within a relaxed beach and mountain environment just a short drive to the city.

Key Investment Points:
- Surrounded by high-end beach and mountain communities
- Near favourite ecotourism destinations and urban Panama City
- High resale value due to low density of single-home units
- Investor-friendly landholding corporation regime and 15-year property tax regime
- Just 1 hour from Panama City
- New construction

Two Bedrooms 192m² to 192m² €115,000 to €130,000
Three Bedrooms 211m² to 211m² €129,000 to €144,000
Four Bedrooms or More 278m² to 278m² €179,000 to €194,000

Consult with your real estate agent.