We have one of the prettiest beaches in Chiriqui just over an hour from Boquete in a lovely gated community where I have sold several properties.  While there are some million dollar estates there, you can still buy a 3/4 acre beachfront lot for under $200,000.  That pricing is unheard of in other parts of Panama even in Pedasi where the lots are one third the size and cost more.  Here you can build a modest 2,500 beach home and for under $475,000 you can have a dream home directly on the beach. A number or people have both a home in Boquete and one here on the ocean, best of both worlds.

Nearby there are several ocean front lots towering above the ocean  where you can sit out and listen to the waves crashing on the rocky shore below.  The views out to the islands are incredible and again the prices are very reasonable.  Click on the picture below for a video.

Now we leave this section of the community and head over to another area where there are a number of beautiful wooded oceanfront lots.  Click on this next picture for a video of the ride over there.

My architect designed this ocean front home and it sits on a heavily wooded oceanfront lot.   There a little private beach below and towering 100 foot trees in the front yard where howler monkey play in the morning and evenings.  There are a few lots left in this section, also for under $200,000.

Here is the Corotu tree in the front yard. Click on the picture to see the video showing the size of this beautiful tree.

Now we are going to go off road to a future part of the community where you can buy some larger tracts of oceanfront at very attractive prices and develop you own estate home or small eco lodge on the ocean.

This place is really magical and one day soon it will all be gone.  As my friend says on his ads of beach front “Finders Keepers”.  Click on this last video to see why.

So, whether you are dreaming of a buying a home on the beach or ready to build your dream home, give me a call for some of the better deals in this great community on the ocean.

Building a home anywhere can be a challenge and when you tell home buyers of the option to build a home in Panama, most people run away so fast that they leave their shadow behind!  For me and a few friends of mine that have had the experience, we find it quite rewarding to create our dream homes from a blank canvas.  In this case, ours is a lot in Panamonte Estates that I acquired earlier this year.

I recently sold some land up in the higher altitudes of Alto Quiel where a client of mine is now building his dream home.  In the process of selling the land, I introduced him to my architect  and his Father who are my design/build team.  He wisely selected this same team and his home is now under construction on the 3 acre estate site.  If I am scaring you off, hold on as I have a brand new home that my architect designed where the owner built out the interior himself.  He is a master stone mason and the work is incredible.  It sits next my clients 3 acre estate site and is on  a full acre of land.  To see more on this home you can click here.

OK, so if you are still with me on building, we have a number of lots in various subdivision that can be purchased at a discount from what the developers originally sold them for as a lot of people started speculating with these lots and or their plans changed and they are willing to take a loss in order to unload the property.  I also have estate sized lots of 1 to 1.5 acres with underground utilities, roads and in a gated community for between $195,000 and $368,000.  There are also subdivisions where you can still find nice lots for under $75,000.  I like one in particular near the mountain home pictured above called Boquete Plantation where you can buy a lot for $88,000 with underground utilities, paved road, basically ready to build.  Lots start at a quarter acre and some can be assembled for larger estate development.

Anyway, here is where the fun begins when your foundation outline boards go up and the lines are drawn tight to set the foundation wall locations.  After 3 months of reviewing design drawings and tweaking every detail to limit any change orders, here we are finally, ground breaking time!  You need to have some experience in this process and have a really good architect like mine to walk you through detailed 3 D animation of the interior and exterior of the home on CAD (Computer Assisted /Design) software.  It is not cheap but as they say, you get what you pay for and I am really happy that I have limited my anxiety level buy doing all the work that I could up front.

WEEK ONE

So, here is what it will look like when we are done.

Our Mediterranean/Tuscan design came in at under 3,500 square feet of total area and we will have significant upgraded finishes throughout the house, truly our dream home here in Boquete.  We have purchased high quality roof tile imported from Spain and high density porcelain floor tiles imported from Italy.   We are using some flat slate for portions of the face of the house that comes from the interior of Panama and our cabinetry will all be custom made out of Panamanian Almond wood.     Another important part of the home is the window system and we have opted for the German style commonly refereed to by the manufacturer Koemmerling. These are Tilt & Turn windows which are manufactured with German Roto Hardware. These windows can both swing in and tilt in with a simple turn of an ergonomical handle.  We believe that light is the soul of your home and air is the blood so we spent a lot of time on making sure that the windows allow for both maximum natural light and air circulation.

On Monday we had a full crew on site and my builder pledged to have the home finished in 10 months so we are planning our timeline for acquiring plumbing and lighting fixtures to insure that they are on site when needed, the same will be done when needed for the rest of our appliances.  As you can see, the roof tile is already staged in the rear of the site and the floor tiles are in storage as well.

So, as Teddy Roosevelt said when he visited Panama for the building of the Canal “Make the dirt fly!!”

Roosevelt “teddy” bears tackled their digging with the jingle: “To finish this great work / We need no foreign aid, / For we can do it all ourselves / With spirit and with spade.”

WEEK TWO

I will be posting progress photos and more of  our dream home and what our Design/Build Team is doing  to insure that every detail is worked out.

We can help you find a premium lot and assist you in this process if you want a superior quality custom built home in Boquete.   So if you are ready to get started, see some ideas that I have and start dreaming of your own.

Ahhh, one of the reasons I really love it here is the excellent coffee grown here in Boquete and the region.  For Mother’s day we celebrated at my friend’s place where Rich Lipner and his wife Dee raise excellent coffee and Rich makes the best wood fired oven roasted pizza I have ever tasted.  So before I get into the  recent outcome of the Best of Panama Coffees for this year, let me show you around his place.

His little plantation house is home to the roasting and toasting that goes on here and we were in a treat for that and more.

The roaster he uses is  a beautiful piece of equipment.

And his pizza oven just got added to my list of things to put in the back yard of my new home that I am building.

The views that afternoon were spectacular also as the weather moved through the mountains.  The coffee was in full bloom and this was indeed a happy time.  Now we just need more rain!!

For a slideshow of that afternoon click here-

If you want to see the whole story that I did about his place read

Coffee in the Clouds

Now onto the Best of Panama cupping, first in the words of one of the judges

I miss the interior of the old David airport, it was like a step back in time!  You would arrive and walk down the tarmac to the arrivals hall, only a small desk behind a glass screen, about forty square meters when combined with the baggage area.  Customs was a trestle table.  I could imagine a time of less bureaucratic oversight.  It really felt like you had travelled to origin.

But this year as I walk through the new airport there are security devices being installed and air-conditioning ducts hang from the roof.  The trestle table has gone: progress.

Boquete, in mountainous Western Panama to the north of David, is becoming fashionable, with a new double lane highway and yet more development.  I am here to protect Boquete as a coffee region.  I am judging in the Best of Panama comp in which Boquete and the neighbouring region of Volcan are well-represented.  The area is becoming equally well-known for retirees and condominium developments- however we are hoping the attention generated around the competition will help reverse the trend of coffee farms being sold to developers.  Boquete and Volcan produce stunning coffee, the volcanic soil coupled with consistent cloud cover and specific climatic conditions produce, arguably, the best coffee in the world.

***

Tao Suzuki, a Japanese cupper, is situated on a table next to me tasting the coffees selected to make it through to the finals.  A slight competitive streak is highlighted with his foam cup art titled “Foolish Australian”.  The coffees are highly prized and there definitely is a sense of rivalry.

We cup over eighty coffees during the next three days.  The cuppings are broken down into Geishas, Standards, and natural processed coffees.

The Geishas are the darlings of the specialty coffee scene, a long-lost varietal that explodes with bergamot and citrus in the cup.  Standards are the Caturra and similar washed coffees that Boquete has traditionally grown, which contrast with the newer and somewhat controversial naturals that are becoming more popular in the region.

We score and rank coffees over the next few days, slurping and spitting our way through to finally rate the blind samples.  The highest scores at 91 points on a scale of 100.  Pretty impressive, and a great pleasure to return to Panama to be on the judging panel.  An equal pleasure is arriving home to taste our lots of Boquete’s Esmeralda “León” Geisha in the cafe.

Now about the competition from an article in the Panama Guide

Special Coffee From Panama Conquers The Global Market And Demanding Palates

Known around the world for satisfying the most demanding palates, special coffees from Panama have earned a place in the international market with prices matching their quality and meeting the criteria of the most expert tasters.

About 30 members of the Specialty Coffee Association of Panama (SCAP) grow and export this precious product, and one of its finest varieties, the Geisha, has reached the cost of $374 per kg, the highest price in the international market.

Each year, producers make an international coffee-tasting event called “The Best of Panama”, a competition in which judges evaluate international specialty coffee lots and they award the highest score to the winners, who then participate in a global online auction with buyers from the U.S., Europe, Japan and Taiwan.

On the high mountainous areas of the province of Chiriqui, located on the border with Costa Rica, around 400 miles to the west of Panama City, there are over 40 farms in charge of growing, besides Geisha coffee, other varieties of the finest Panamanian coffees, such as Pacamara, Catuai, Caturra, Bourbon or Typica.

Geisha coffee is the world’s most recognized and the best priced coffee among the experts for its citrical flavor and floral and jasmine aroma, as well as its balanced acidity.

THE BEGINNING

The Geisha variety was discovered in Abyssinia in southwest Ethiopia, in 1931, and was imported into Panama from Costa Rica in 1963, according to the SCAP, an association created in 1996.

The president of the Specialty Coffee Association of Panama, Plinio Ruiz Jr. said this variety was brought to the country because its leaves are resistant to rust.

Rust is a coffee pest caused by the fungus Hemileia vastatrix, which causes premature leaf fall of coffee and undermines its productive capacity, unable to perform photosynthesis.

The SCAP specifies that the main criteria at the time of choosing which variety should be grown are the grain quality, the production capacity and resistance to weather and pests.

Ruiz said through the introduction of the Geisha in the highlands of Boquete, in Chiriqui, one of the six mountainous areas of the province where fine coffees are grown, it was discovered that “the taste of this coffee was extraordinary.”

“This is how it all began, then, electronic auctions were introduced in 2004 all around the world, and this is when the variety of Geisha as a special coffee was discovered, obtaining the highest price in the market,” said Ruiz.

SCAP’s President highlighted that the total commercial coffee production in Panama reaches 28 million pounds (bags of 46 kg), in which special coffee represents 2% of this production.

However, he said the specialty coffee produce “a whole market noise” because their lots reach “exorbitant prices, ridiculously high, compared to commercial coffees”.

MARKETS

Japan, Taiwan, South Korea, United States, France, Holland, Germany and the Nordic countries such as Finland and Sweden are the markets that pay the highest prices for coffee from Panama.

However, Ruiz said countries in the Far East buy the most because they have a palate adapted to identify very fine flavors from plants and can identify “very easily” high quality drinks such as specialty coffee.

In that regard, he assured the most requested coffee is the Geisha, out of the special coffees, which has reached the price of $374 per kg.

This week, the lots used to grow the Ironman coffee (washed Geisha coffee), Esmeralda Especial (Natural) and Pacamara Don Julian (traditional washed coffee) got the first place in its category at the XVII International Specialty Coffee Tasting Event, “The Best of Panama.”

Judges from the Netherlands, Taiwan, United States, Japan and South Korea chose among 46 lots of the best coffee in Panama, in a tasting that lasted several days and finally concluded on Wednesday in Boquete.

In the Geisha category, Ironman lot owned by the coffee producer, athlete and manager of the Panama Stock Exchange, Roberto Brenes, obtained the highest score with 91.7031 points.

The director of the Specialty Coffee Association of America (SCAA), Ric Rhinehart, said the quality of Panama’s coffee is higher every year and separating Geishas from other coffees “helps maintain the quality of the other varieties of coffee.”

After this tasting event, samples are sent from the lots to be auctioned online on June 11 to the potential buyers who sign up for the auction, said Ruiz. (Prensa)

Here is a post that I read written by a friend of mine who commented about why she lives in Boquete and is very well said.

I have lived in Chiriqui for 8 years, starting out in Volcan where I quickly realized it was not for me. I moved to Boquete and have been happy here ever since. I took a one year move to Cuenca Ecuador, but returned to Boquete to never leave again. Boquete has a very unique community with a rich, full lifestyle. Many gringos who have moved here have taken up a personal interest and created various organizations and groups to pursue those interests and share them with others. Others who move here experience that, and then create their own group interest and so on and so on and so on. The result is lots and lots of things to do, most of which improve and assist the community.

We have a thriving artist community called Boquete Artworks that have classes, groups, meetings and art shows on a continuous basis. There’s Boquete Spay & Neuter clinic which monthly performs over 100 operations on cats and dogs to keep our animals safe and healthy…in addition they have an adoption agency, foster care and other services. Buenos Vecinos de Boquete collects money and food donations and feeds over 100 needy families with basic food stores every month. Bid4Boquete is an annual charity auction with over 200 volunteers that is a 3 day event and this year raised $74,000 for local charities and schools. The Boquete Jazz & Blues Festival provides international music entertainment for several days each year and includes a Mardi Gras style parade around town, ending up at the Panamonte Hotel for a party. Daily concerts and jam sessions take place all over town….profits are given as grants to local schools to provide instruments for school orchestras. The BCP Theater and Events Center was a falling down building that was totally renovated by a large group of volunteers, all with donations of time, labor and materials. It now serves as the community center for plays (we have a professional actor/director serving as Creative Director), concerts, dances, parties and the now famous Tuesday Market and Meeting where vendors sell organic produce, prepared foods, arts and crafts, baked goods, and all manner of wonderful things. Meetings are held when speakers of interest are available. There’s a Photo Club that holds photo exhibits at our new 3 story library building and holds classes to educate and share. There is a very active Bird Watching group…..a group of women known as Knit and Knatters who make blankets, booties and smocks for indigenous babies. We have a monthly flea market at Chiriqui Storage. And many, many more….

Each of these organizations holds a variety of fundraising events during the year that bring fun activities….for example, last weekend’s big Mexican Food Cookoff by Buenos Vecinos de Boquete included competitions for best Chili, Entree, Appetizer and Dessert…YUM! And, there is golf, tennis, poker, Mexican Train, Mahjongg and lots of other games and sports to get involved with. We also have some very nice restaurants around the valley, as well as a bulk food provider, a shop called Bona Foodie that offers prepared meals in cryovac bags that are just dropped into boiling water….A meal in 7 minutes for 7 dollars is their motto. GREAT food, easy to use and affordable. We even have our own monthly news paper called El Bajareque, and www.boqueteguide.com and www.boquete.ning.com and www.news.boquete.org all serve our needs for media and interaction.

With our new 4 lane highway, soon to be completed, it will take just 20 minutes to get to David and El Rey, Conway, Arrocha, Panafoto, Furniture City, LumiCentro, MultiMax, AudioFoto, Subway and many other fine stores, including the new and huge Super 99 that is now being built. There’s a reason all these big Panama City stores located their businesses at the end of the road to Boquete instead of out west where Chiriqui Mall flounders. The reason is simply, it’s close to Boquete. Boquete….the jewel of Panama, and home of happy ExPats.

So….this is the truth, as you are looking for it. Hope it helps.

Penny Ripple

In this second article written by Karlsie Fetrow, she tells of some of the attractions and benefits Panama has to offer over other places in Central America.  While there are some mistakes, for the most part she hits the nail on the head.  Here she says just like International Living tells people, that you can live well on $1,000.  I find that most of the retirees surveyed suggested that you will need closer to $2,000 and that may be after your rent or ownership of a home.  None the less, it is still less expensive here if you live smart.

When the economic crisis became an economic down hill ski run, perhaps nobody felt the crunch quite as hard as the baby boomers. Retired or near retirement age, the little nest eggs they had worked to save for sitting in a lawn chair sipping margaritas, were suddenly reduced to emergency rations as the costs of living rapidly outgrew the budgeted monthly paychecks they were receiving. Many have had to postpone their retirement checks, or go back to work to supplement their incomes. It doesn’t look like the situation is going to get any better.

Although spirits seem to be soaring over the slight improvement in unemployment, placing it at 7.7% for February, past performances have shown us this improvement is very short lived. Mild winters allowing early construction begins the boom than pops it as seasonal work staggers to an end. The dreaded sequester, passed earlier this month, probably won’t have the shock value the collapse of the housing market had, but eventually the effects will be felt by everyone. The $85 billion budget cuts dwindle the funds for National Park services, education, defense contracting, and will even cancel White House tours. The seasonal employment gain will be lost as the workers in these categories join the unemployment lines.

With every man, woman and child owing nearly $55,000 for their share of the public debt, retirement in the United States doesn’t look like a very good option. That margarita while sitting in a lawn chair could best be enjoyed in a country where that retirement paycheck means enjoying a comfortable living standard. Following the lead of Costa Rica, Panama has opened its doors to investors, retirees, and expats from 24 nations, including Australia, Canada, the United Kingdom, and the United States. The invitation, sent out by President Ricardo Martinelli in May 2012, would give permanent residency to citizens of friendly nations with professional and economic ties with the Republic of Panama.

The purpose of the policy is to encourage investment in new businesses, purchase an existing business, or for those who have secured employment with a Panamanian business. It also accepts applicants with proof of solvency, which is a special enticement for retirees. With $5,000 deposited in a Panama bank account, plus $2,000 for each dependent, along with the monthly retirement check, that nest egg could stop shrinking and start growing.

The economic advantages of relocating in Panama are enormous

Panama is a tax shelter, with strict privacy laws concerning the banking industry and a number of protective laws set in place for both international corporations and for individuals. There is an import tax exemption on new cars and household goods. Residents do not pay a tax on foreign earned income. The cost of housing is nearly half that of the United States. Under the “pensionado” program, there are discounts on utility bills, airline tickets, eye and dental exams, doctor bills, movie theaters, hotels, and more. A retiree with $750- $1,000 a month income could live well in Panama.

Panama has evaded much of the global recession, with a large portion of its economic growth credited to spending on the public infrastructure. The ongoing construction has included expansion of the canal, a new subway system, and private development of hotels, offices, and housing. With expansion and improvement of its airport, it now offers more flights per day than any other Latin American country.

Panama is quickly becoming the hub of Latin American commerce

The combined policies of creating a dollar value economy, encouraging foreign investment and welcoming retirees into the country has drawn numerous international companies to headquarter in Panama City. Of the emerging nations, it is among the top four leading the way to economic stability.

There are other advantages to living in Panama

While it was once difficult to obtain, with the welcome mat President Martinelli has spread out, permission for the right to work and establish a business has been simplified under the new laws. After five years of residency, foreign investors, retirees, and expats may apply for citizenship.

While Costa Rica is geared more toward tourism, Panama has better overall living conditions; good roads, excellent medical facilities, beautiful, uncrowded beaches, clean water, and cultural diversity. The diversity extends to the terrain. Beyond the very modern metropolis of Panama City, there are small towns and villages, emerald mountains, and an abundance of wildlife. It’s the ideal setting for nature lovers, adventurers, and outdoor recreation. Its Hawaiian styled climate includes miniature ecosystems of jungle, rain forest, islands and reefs, adding special enjoyments for everyone from cliff climbers to scuba divers.

There are a few drawbacks

For families considering relocating, schools outside the big city are small, with few extra-curricular activities. Many of the groceries and convenience items Americans are accustomed to buying are unavailable, although there is an abundance of fresh, organic foods. Restaurant service is slow. However, for work oriented individuals, even these drawbacks can be an advantage. Panama has a high demand for English speaking teachers. There are also plenty of jobs available for American cooks.

Panama could be seen as the new frontier for those with a pioneering spirit. The minor drawbacks only mean a challenge for adjusting to a new lifestyle and an opportunity to apply ingenuity and creativity within its vast resources. America is staggering under enormous debt, with very few outlets for prospective retirees to live well and enjoy the fruits of their labor. With a healthy climate and thriving economy, Panama offers the freshness and vitality to make those retirement years enjoyable.

I was surfing the web for content about the stats for the number of expats that might be coming to Panama and found a couple of interesting articles in a blog written by editor in chief Karla Fetrow.    It is   an interesting look at what is happening and why people are considering leaving the US for greener pastures.

The Debt No One Wants to Pay

What has happened to America? Perhaps, at no time, has the waves of discontent been so intense, that not a single group can reach agreement with another. It can’t really be compared with the Civil War; it was a war of two separate factions; one wishing to split away and form its own constitution, the other determined to maintain a single, united entity. Nor can it be truly compared to the Great Depression, although many of the circumstances are similar. The twenty year era of poverty drove massive numbers into the streets, wandering around the country, looking for jobs, saw endless homeless and the creation of Union power. While Union power has been deeply corroded by government mandates, the greatest difference has been that for the first time, Americans are considering migrating out of the country they helped to make great, and start over.

The emerging migration can be blamed partly on the economy. Baby boomers reaching retirement age have discovered their social security checks are not enough to cover the spiraling costs of living. Younger people are concerned that America’s staggering debt will create a tax burden none can afford. Advanced education has done nothing to improve their opportunities for a lucrative income, only saddled them with student loans and desperation. Buying a new car is difficult enough; investing in real estate is a pipe dream.

Economies eventually recover. Innovation, reform, new resources and rebuilding the infrastructure lead the way to new economic development. From the revolutionary years, though the industrial age, Americans have had faith during their economic struggles that things would get better. They had a dream and they were willing to fight for it.

Without Liberty

America has lost its faith. This, more than anything, has stimulated the American dream to find greener pastures. Individual and community efforts to change the course of economic disparity have met in failure, primarily due to government intervention. Farm co-operatives and private homes have been invaded, their assets seized by agents who determined their organic practices were unsafe, even in the face of mounting pressure to abandon GMO projects. Neither has bartering been accepted favorably, with an insistence that all bartered items be listed as income.

America can handle a new era of poverty. What it can’t accept is the growth of a government seat that continues to nibble away at their natural liberties. Natural liberties have been defined since the early Greek civilization. Our individual survival depends on the right to seek out food, water and shelter. This same drive determines our instinctual desire to protect the assets we have obtained and to benefit from our own handiwork. As social creatures, we naturally crave free expression, whether in religion, speech or press. When these desires are suppressed, when we can no longer reasonably maintain food, water and shelter, when our assets are removed from us, along with the benefits of our handiwork and we feel unprotected, it is our natural drive to look elsewhere for free expression.

Central America Becomes the New Frontier

For many, elsewhere has become Central America. It is estimated that approximately 250,000 retirees will have moved south of the border over the next fifteen years. It has also become the main attraction for ex-pats and people looking for ways to invest their self-directed IRA’s.

What has suddenly made Central America a sudden choice for packing up and starting over? Much has to do with changes in Central American policies. Long considered a tax shelter where wealthy businessman invest millions and rake in untaxed profits from private banks, the governments within the affected countries have become worried about corporate trends, their big-money dominance and worries over corporate dependencies. Wishing to save an infrastructure that serves its citizens, their appeal to investors and entrepreneurs has been directed at the American middle class.

Many of the Central American companies have made it easier to invest in real estate and residency. They maintain an equitable exchange rate with the dollar, and in some cases, such as Panama, use the dollar as currency. You do not need a passport to visit their country; a visa will allow you into most of them. Once you’ve become a resident, you can legally buy and own property. You do not have to pay taxes unless you sell it. Owning a small business is encouraged and the start-up rates are only half the expense as beginning a business in the United States.

There are disadvantages. Central America still has a great deal of under-development. American products are expensive. Unless you accustom yourself to Central American life-styles, you won’t find a great deal of difference in the prices you pay in the U.S. Schools are generally small outside the big cities. There is a shortage of English language teachers. As you would be moving to a foreign country, it would be necessary to learn Spanish and adopt to the culture and customs.

The Appeal of Opportunity

However, for many, this only makes the prospect more exciting. There is a feeling of pioneering, as well as adventure, the excitement of being presented with an opportunity, when U.S. opportunities seem to have dried up. The idea of moving to a country without the cumbering machinery of US codes and regulations outweighs the minor handicaps of adaptation.

Climate and environment are definitely an advantage. The tropical landscape offers rugged mountains, jungles, rain forest and swift rivers to the adventure seeker; brightly colored birds and a variety in wildlife species to the naturalist. Central America is bordered with spectacular beaches for swimming, snorkeling, surfing or just plain sun-bathing. It has become so tourism friendly, it welcomes the back-packer as avidly as it absorbs the high roller.

While Central America is busy embracing retirees and expats, many US cities are on the decline as the death rate creeps over the birth rate. Their strategy has been to accept Latin American immigration, hoping that by doing so, the additional manpower will stimulate the economies. While they are rolling out a welcome mat for the influx, no studies have been made of the impact of US citizens leaving the country.

When the Dream is Over

US immigrants into Central America will bring with them, their retirement income, their SSI, their IRA’s and the profits generated from selling out. The disenfranchised will bring their creativity, their innovation, their entrepreneurship and other learned skills. Many will bring their families.

The phrase, “if you don’t love it, leave it,” has backfired for the American people. The long-term love affair with what was once considered the land of the free, is over. Those who harbor in their hearts concepts of personal liberties are suspicious of a corporate ruled government and fear federal jurisdiction is becoming increasingly more tyrannical. America didn’t just fail its people economically. The American backbone has been strong, able to withstand war and depression. It’s the breaking away from Constitutional rights, from concepts of individual freedom that has crushed the spirit of the American people, making leaving what they no longer love, a viable option. The American dream may be over in the United States, but it is just beginning in Central America.

We are pleased to announce the offering of a prime 2 Bedroom, 2 and a half bath, plus den  high floor unit.  Located in a privileged position in the building at the very tip, this unit consists of approximately 183 square meters or approximately 1,966 square feet of luxury.  The views are incredible and it has a beautiful balcony area. Please see the attached  Floor plan

The unit is presently leased to an executive of an international corporation for $3,200 per month.  Monthly CAM fees run $567.30.  The unit is offered for sale for $685,000.

Situated on prime real estate in Punta Pacifica, The Trump Ocean Club is truly a wonder to behold. Rising 70 stories and consisting of almost 3,000,000 square feet of space, it is the largest building in Latin America and rivals some of the towers in New York. This luxury hotel unites exclusive amenities, innovative accommodations and the signature services of Trump Attaché™. Destined to become Central America’s next architectural icon, Trump’s sleek design evokes a majestic sail fully deployed in the wind. This is a landmark address that’s redefining luxury in Panama. Steps from Punta Pacifica’s sophisticated shops and nightlife, five minutes from the financial district and minutes from Panama City, this property in Panama gives you the perfect setting to unite business with pleasure.

Unique among the world’s finest hotels and resorts, Trump Panama delivers a superior level of modern convenience including meeting facilities outfitted with sophisticated technology. The 13th-floor deck features five radiant pools with waterfront dining. The fully equipped spa and health club, open 24 hours a day, offers a respite from the every day.

Staying true to Trump’s unmatched reputation for excellence, every aspect of the tower has been designed to showcase direct ocean views, and each of the 369 hotel rooms and suites is exquisitely furnished in an elegant, cosmopolitan style. From the soon to open international casino to gourmet dining, this is opulence at its absolute finest.

Here is an introductory Video Presentation

For more information on the hotel and a photo gallery click here

Panama Advisory International Group

Is pleased to announce that we have been retained by the shareholders of this property on an exclusive basis

This fully titled property consists of 509 hectares or approximately 1,250 acres in several large tracts. The property has numerous streams providing a constant supply of good water and there is canyon frontage on a major river with a huge waterfall. There is a section of the land that has three sources of water that could power a 10 MW hydro facility. It has cross fenced pasture land that cover around 400 hectares that is in cattle and there are some old forest lands and mature pine that could be sold for timber. The property has spectacular mountain views and of the Pacific Ocean. Located in the Chiriqui province of Panama, Boquete has been written up in newspapers around the world as one of the top places in the world to retire. It’s eternal spring weather, jagged peaks, rivers, waterfalls proximity to excellent shopping and healthcare has made this a perfect place to live. There are two major projects nearby including Lucero. Lucero offers resort style living at its best. Lucero has the only 18-hole Championship Golf Course in the Province of Chiriqui. Estate residences enjoy views to the spectacular Baru Volcano, the jagged peaks of the Talamanca Mountains, the Pacific Ocean and islands and the towering Jaramillo Mountain to the north. An adjoining tract of 700 hectares known as Las Huacas has sold again in less than 2 years that has an improved roadway that leads into the subject property. A 130 hectares parcel was subdivided for the original Las Huacas finca and sold for $3.75 per square meter. This adjoins the subject property.  We are asking $2.35 per square meter for this finca for an asking price of $12,000,000.00

Boquete

The Property

Has multiple sources of water and more…

The Location

We have several videos of the property linked below and a complete Offering Memorandum Here.

The property is located just 15 minutes from Boquete town.  We turn off the main highway and head east towards Lucero formerly known as Cielo Paraiso.

We start the video tour by driving to the Rotunda at the end of the Las Huacas project and down to the 509 hectares

Driving to the Rotunda

At the Rotunda, I pan from East to West (left to right)

We continue down to the entrance to the property.

Here we enter the property and travel through about 30 hectares of pine forest and secondary forest down to his pastures. The pine timber is ready to harvest and be used for construction material.

Here I am panning North to South over some of the lower and upper pasture that is a small fraction of the property. Lucero is in the distance in the beginning of the video.

Here is another shot of his upper pasture and looking back to El Penon where we entered the property and back North again.

For complete details please see the Offering Memorandum Here.

Looks beautiful doesn’t it.  Can you buy it, sure.  Can you get title, no!  Only in the rarest situations can you find property titled to the high tide line in Panama.  Most is set back 150 to 200 meters unless you are lucky and find beachfront that is titled to 22 meters.  Can you develop and use it anyway, in most cases if you own the rights of possession, yes.  Now comes the tricky part. How do you determine if someone is the true owner of those rights?  In Bocas del Toro we heard of a former Mayor who sold rights of possession to 4 different people that was for the same piece of property.  Be aware of where, who, when and how when you buy in Panama.  Actually, this also happens in the USA.  See this recent article on people who are trying to get rights of possession on foreclosed properties by squatting on them in Miami.  To explain the difference in the buying the two types of ownership, one of my friends and a very qualified attorney who is very familiar with the subject wrote this piece. Thanks and a hat tip to Rodolfo Aguilera.

Buying Real Property in Panama:

Under Panama Civil Law one can have control over a land parcel or property not only as a duly recorded owner but as a possessor. Generally speaking, if a title of transfer is deeded before a Public Notary and said title is duly recorded in the Public Registry, the individual or entity who appears in said deed as the transferee will become the owner, in other words, Deed + Proper Recording in the Public Registry = Ownership of Real Estate. If one follows the chain of titles of a property back to the original owner, the first transfer, when the first owner acquired the property, -this is to say, when the property was born in the Public Registry- is a transfer from a government entity – Municipality, Cadastre or Agrarian Reform, for instance- to the individual or entity that was holding said property without title. There are still land parcels and properties in Panama that are under the control of individuals or entities who have never filed an application before the competent authority to obtain title. Those in this situation have rights of possession. According to the Civil Law System an individual –or entity- has rights of possession over a property when he/she occupies/controls/holds a piece of land or a property, under certain conditions, and considers him/herself the owner of said property, without having title. In general terms, rights of possession can be transferred, inherited, attached, encumbered, foreclosed and titled subject to the law in affect at the time. They are protected by law as a stage prior to titled property. Those who hold rights of possession are entitled to file lawsuits against squatters, build improvements, apply for title, prevent/demolish improvements from third parties, etc.

Note: The following refers only to titled property, not to rights of possession.

The Panamanian Public Registry is one of the world’s largest open registries of merchant vessels and offshore companies. Both the maritime industry and the international business community together with the Panamanian authorities have established one of the most efficient, transparent and secure Public Registries in the Americas. Since the real estate buyer becomes the owner when the transfer deed is recorded in the Public Registry, foreign real estate investors benefit from these developments in the Public Registry as they create a safe, expeditious and open environment in which to conduct real estate transactions. The Public Registry allows you to review online not only the status and history of every legal entity, vessel or property therein recorded, but the deeds and documents related to any of them.

Here is a list of nine steps that will help you finalize your real estate transaction successfully:

1- Get a title report. Ask for the number of the real estate property from the owner or broker. Then go to the Public Registry (www.registro-publico.gob.pa) and apply for an abstract of title (historia de la finca, in Spanish), which is a written report that shows the history of subsequent changes of ownership on a piece of real estate as well as the area, borders, and any claim or encumbrances affecting the property such as liens, mortgages, attachments, court rulings and the like.

2- Pay for what you get. Sometimes, due to the use of not so precise surveying tools, especially when properties were titled in the 40s, 50s and 60s, the area in the official surveys (hence in the Public Registry) is more than the de facto area you are receiving and for which you are paying. Therefore it is advisable that the Buyer hires an expert in order to conduct a survey of the property and then compare the figures with the ones found in the Public Registry and/or official surveys. For the same reasons, it is also recommended to establish a price per square meter in the purchase contract, not a lump sum price, so that if the amount of land is less than the area represented by the official survey, the Buyer will be entitled to a proportional price reduction. A due diligence period in the pre-purchase contract will allow the Buyer to conduct the survey of the property.

No conveyance, no payment. Once the bill of sale is duly signed before the Public Notary and recorded in the Public Registry, the buyer becomes the owner; hence, payment can be made. If the seller requires the buyer to secure the amount due, the buyer may deposit the total amount in a bank, which in turn will issue an irrevocable letter of payment, whereby the bank guarantees the payment to the seller once the deed has been duly recorded in the Public Registry free and clear from encumbrances. Bank Letters to secure payments are common place in the Panamanian legal environment. If the seller asks for a partial payment in advance in order to close the bill of sale, the buyer may agree with a partial payment following the rest of the advice herein mentioned, in order to reduce legal risks. Another method to withhold payment of the balance owed to Seller until the transfer has been completed, while still securing the payment to the Seller, is to put the balance of the purchase price in an escrow account managed by a reputed licensed Trust Company or Law Firm. The Trust Company or Law Firm will be obliged to release the balance of the purchase price once the transfer deed is recorded in the Public Registry free and clear, but will withhold said sum, if the transfer deed is not recorded.

4- Easements. An easement is the right, attached to real estate, to use the real property of another person for a specific benefit, for example: entry and exit easement in favour of a land locked lot, use of a water spring, not to build where the view is obstructed, etc. Title reports and title abstracts will usually describe all existing easements affecting a property; but, in some cases, depending on the structure, location and nature of the land, some neighbours or others could have a right (not to be found in the Public Registry) to claim for an easement, and so it might be useful to check all possible easements in the civil code to see if one could apply to the particular piece of land that the buyer is trying to acquire.

5- Latent/Hidden Defects. Be sure that the bill of sale includes a “latent defect clause” by which the buyer is entitled to rescind the contract and claim damages if a latent or hidden defect (i.e. a hidden flaw or a legal weakness of the title) entails significant loss of property to the buyer.

6- Real Property Taxes. Although most land in Panama is tax exempted, Real Estate Taxes are charged on a quarterly basis to some real properties by the Dirección General de Ingresos, the Panamanian IRS. The current owner is liable for any unpaid real property taxes. As a consequence, it is important that the Buyer checks that the quarterly payments are within his/her budget and that the property is free from previous real estate tax debts.

7- Double titles. It is a very rare event I must say, but some times the buyer may encounter two titles, held by different persons, that overlap, totally or partially, upon the same piece of land. It follows, that the buyer could acquire from one owner and the other owner will contend to have a better right. To reduce this risk, your surveyor should ask the neighbours if they have any contentions regarding the official boundaries of the lot or parcel. You could search with the authorities in charge of issuing real estate titles (Agrarian Reform Directorate, Municipality and National Cadastre), in order to determine if someone, other than the seller, has filed and completed a title petition, in order to acquire a title over the land in question.

8- Protect your Assets. Once you have found your own private haven, protect it from unknown future creditors. One of the best legal entities to protect and transfer assets is the Panamanian Private Interest Foundation. The assets belonging to these legal entities, in principle, cannot be seized or attached. In addition, it is easy and cost effective to transfer assets to the next generation when held by a Private Interest Foundation. The buyer can also put a mortgage on a property to secure loans with Banks or third parties. This encumbrance in most cases deflects the attacks from future unknown creditors.

9- Insure your title from eviction risks. Several insurance companies offer title insurance and several US title insurers have established operations in Panama. Make sure that the insurance covers not only risks or situations that are recorded in the Public Registry but also those that are in connection with elements or facts that are not recorded in the Public Registry.

Rodolfo Aguilera Franceschi

Real Estate Lawyer

Aguilera Franceschi, S. C. – Attorneys At Law

Suite 2, 23^rd Floor, New Global Bank Tower

50^th Street, Panama City, Rep. of Panama.

Tels 507 340 3571/2

Fax 507 340 3573

Cel 507 667 1 7596

www.aguileralawfirm.com

www.visualcv.com/raguilera

This home was designed by one of the best architects in the area and built out by the owner who is a craftsman in stone work and more. Consisting of a total of 3,465 square feet on two levels, the home was  completed in 2011 and sits on an acre of land at around 5,000 high up near the national park with Volcan Baru towering in the back yard at 11,400 feet.  Truly a magical place and one of my favorites in Boquete.

Materials include German tilt and turn windows and doors all with gaskets to keep out the weather and keep in the warmth as it gets cool here at night.  The vistas from both  the terrace or balcony are outstanding and the home is surrounded in glazing to take advantage of this.

You immediately notice the design details and custom stonework which give warmth to the home as you enter the main living area upstairs.  Here we have the living room, kitchen, dining, two bedrooms, two baths, front porch, balcony and a laundry room totaling over 2,500 square feet.

The wood work is also amazing and the owner has incorporated 400 year old Chinese doors in the interior.

The ceiling throughout the house are at 10 foot and the ceiling in the great room is vaulted even higher

The great room is very cozy and the custom white fireplace  against the red wall and wood floors is striking. There is even a remote controlled gas log in the fireplace to keep cozy at night.

The great room is also wired for surround sound as is the outside as well.  The owner also installed a central vacuum system, something rarely seen here.

The vistas out the back are beautiful with cedar and pine trees that sing in the breezes.

Enter the master bedroom suite with adjoining office and bath.

Extensive use of wood and stone culminate in the master bath where porcelain tile is matched with rain-forest green imported marble.

The master also has double sink marble vanity

The shower is huge at over 8 foot square.

The built in closet is a full walk in with a nice amount of space

The adjoining office can double as a third bedroom

There are built in desk and cabinets that also remain with the home

As we head back into the great room towards the other side of the house we pass by the kitchen. Here we see all stainless steel appliances and high end fixtures brought back by the builder from the States

There is another wing on the other side of the house that leads to the guest suite and bath.

Back outside the terrace leads to the yard and green house

The garden has vegetables and flowers as well a numerous fruits. Here is the list for you to consider and see what has gone into planning a sustainable garden. Oranges, limes, lemons, apples, pears, banana, star fruit, guanabana, blackberries, strawberries, and numerous herbs and spices.  There is room for a guest casita that is already permitted and could be built and rented out for income.

Fresh produce for breakfast, lunch and dinner abounds.

In addition to the veggies and fruit, there are established coffee bushes and over 150 new Geisha variety plants on site

All of this in the back drop of the biggest mountain in this region of Central America, Volcan Baru

Downstairs there is a work shop and oversize garage that is convertible to a studio apartment with power, water and stubbed in sewer lines.  The total area of enclosed space is 950 square feet.

Or it can be left as a man cave convertible to a game room.        Before……

After….              Just kidding Honey, Mother can move in and we will build her an apartment downstairs!!

There are two sources of water including the local aqueduct that provides back up sources of water, all of which is tested and clean.  There is a 700 gallon reserve water tank and filtration system.  In addition, there is a alkalinity treatment system in the laundry room.

Here is a video of the surrounding mountains and valleys

Here is another from the yard in front of the house.  You are looking up from 5,000 feet to the tops of the first ridges that go to 11,400 feet!!

Come visit and see this incredible home in an incredible area unlike any other in Boquete.  There is a real estate tax exemption until 2031 so you have no real estate taxes.

Asking $495,000 furnished,  the replacement cost of this home is significantly greater. Oh, and it does not hurt that there is a million dollar mansion going in next door!!

Here are some  plans and elevations of the home. Site Plan, Floor Plan and Elevations