Panama bank holds property fire sale

The National Bank of Panama is the equivalent of
a central bank that does not issue currency. It
also lends money to property buyers on a regular
basis and has a portfolio of repossessed properties.

This April 15, 2008, the bank will be holding an
auction of properties located in Panama City,
Santiago, Changuinola, Coclé and Chiriquí
province. While most of the properties are not
the usual "choice" homes offered to foreign
buyers, some have potential for eventual rental
to the local market or for developing tourism
projects. Among the properties being auctioned are:

60 m2 / 645 ft2 Condo in Las Orquideas building,
2nd floor, Parque Lefevre section of Panama City, offered at US$41,500

289.25 m2 / 3113 ft2 Home in Altos de Cerro
Viento, suburban Panama City, offered at US$99,700

15 hectares / 37 acres Land in La Loma del
Roble, Aguadulce, Cocle, offered at US$36,500

3673.18 m2 / 39538.1 ft2 Cabins and Land in
Renacimiento, Western Chiriqui, offered at US$106,000

Bidders must provide a refundable check for 5%
of the price they are willing to pay. The
offeror of the highest bid must pay in cash or
have secured financing in order to be awarded the
property. Each property is sold "as is" to both
foreign and local bidders alike. The last day
to receive offers is April 15, 2008 at 2PM.

For more information on how to bid for these
properties, email properties @slampanama.com

Golf community with twice the amenities for half the price

This project is a private, gated golf comunity located in Penonome, capital of the province of Cocle, the geographical center of the Republic of Panama. This community was designed especially for those who enjoy nature and the comfort of urban life. The project combines a number of unique amenities.

The purpose of this project is to offer the ammenities that the affluent Baby Boomers want at a price that is more than 50% off than similar projects on the beaches, allowing many more clients to have a dream life in Paradise.

The Marina in the Pacific Ocean is just 9 miles away in the Delta of Rio Grande. Rio Grande is a historical site which 400 years ago the Spaniards used as a base for commerce within Panama. Now it is used by local fishermen and by residents to have fishing and pleasure boats. From here they can get closer to exotic locations in the Pacific Ocean where many Fishing Records have been set.

Penonome for many decades and still today it is in one the vacational spots of the residents of Panama city due to its close proximity to mountains and beaches. The town also has medical services and hospitals, Banks, supermarkets, shops, lower cost of living than Panama City and less humid weather. Founded in 1581, Penonome served as the temporary capital of the isthmus in 1671 when Panama city was destroyed by pirates. Currently is is a distict of 60,000 habitants which location allows you to be as active as you want , giving you unlimited alternatives from fishing to golf, from horseback riding to bird watching.

Attractions close-by include the Fishersman´s Marina (9 miles away), the pre-Columbian site of El Caño ecological park (15 miles), thermal waters & terapeutic Natural spas (20 miles), a par 72 golf course (15 miles) and 3 other par 72 golf courses not more than 50 miles away.

The development will include "El Pueblito" - a XIX-century replica town with Colonial architecture, shops and restaurants, which will become the center for all tourist trips of the area and include a health fitness center, an Internet café, hotel-suites, and a small business center with offices for rent by the residents. A nine-hole par-3 golf course, surrounds the property, allowing the residents to enjoy the view and facilities of more expensive projects. A uniquely scenic ecological trail will give residents an unforgettable experience.

Sale Price: $275,000-$325,000. Single Family Homes. Bedrooms: 3-4 + maid's room.
Built Area: 201.70-246.45 m2
Google Earth coordinates 8.63333 / -80.28333
Contact your real estate agent.

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