![\"Dominical,](\"http:\/\/www.caribbeanway.com\/photos\/photo-gallery\/110890\/Mediums2\/CostaRica-Paraiso--01.jpg\")
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I have often written about Panama’s plan for 2010 – 2014 to focus on high value <\/strong><\/em>luxury tourism.\u00a0 There are\u00a0a number of regions that have resort communities focusing on this and they will do well in the coming years.\u00a0 The industry is still in it’s infancy but I believe destined to be successful as Panama draws customer from all over the world.\u00a0 With Copa Airlines expanding its routes throughout the Americas and KLM establishing daily flights from Amsterdam, Panama will become more than a hub and jumping off point but a real destination.\u00a0 Recently I made an observation of Panama and its luxury market as evidenced in the City.\u00a0\u00a0<\/p>\n I like to think of Panama as the Switzerland of Central and South America where many keep their money\u00a0and come here \u00a0to play knowing that while things might be a little dicey back home, Panama is a safe haven.\u00a0 I often see numerous shoppers\u00a0at the Cartier Store in MultiPlaza Mall as well as other high end boutiques.\u00a0 While I am sure their sales are off from the height of the market, I still see customers buying $25,000 watches so it can\u2019t be too bad.\u00a0 My friends back in Miami that are part owners in Multiplaza Mall\u00a0tell me that up to\u00a060% of the shoppers are from other Latin American countries who visit here.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n One of the plans for the future of branding Panama is to brand it\u00a0 \u201caffordable luxury\u201d whether it is a store, a resort, a restaurant or a hotel.\u00a0 Programs that\u00a0are\u00a0\u00a0in place\u00a0envision Panama as a hub of the Americas\u00a0\u00a0and this means being the \u201ccenter of world-class value<\/em><\/strong>-added logistics services and\u00a0high value luxury tourism.\u00a0\u00a0 The Government\u2019s Strategic Plan 2010-2014, states that Panama should become a center for luxury tourism beach resorts, business and shopping, to focus on attracting high-spending\u00a0clientele.\u00a0\u00a0 For\u00a0this to become a reality, Panama must present itself as truly a safe haven both for investors and for\u00a0people who wish to move to this beautiful country and take up residence.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n \u00a0\u00a0\u00a0<\/p>\n Here are just two of my favorites, one close to the City and the other in a more remote little town that is starting to make me think that it could be the next Riviera of Panama.\u00a0\u00a0<\/p>\n \u00a0\u00a0<\/p>\n \u00a0First, there is\u00a0Buenaventura, Panama\u00b4s most exclusive beach community which\u00a0is located on the Pacific coast just 80 minutes from the city. A Nicklaus Design championship golf course along with a the luxurious Bristol Hotel and Spa\u00a0 makes Buenaventura the ultimate destination. A place where discriminating individuals will find great golf, total pampering experience and world class amenities. Luxurious beachfront<\/strong>\u00a0townhouses, lake front villas,<\/strong>\u00a0<\/a>and condominiums, all in a beach community surrounded by beautiful lakes and lush trees are just a few reasons to make this solid investment.\u00a0\u00a0<\/p>\n Another place that I like is Azueros in the more remote area of Panama that has a great foundation for becoming a Riviera of Panama.\u00a0\u00a0<\/p>\n The residences of Azueros <\/a>include masterfully crafted homes on estates of up to 10 acres with the equivalent of their own nature reserves, beachfront villas and studios, terraced residences in tropical garden enclaves, apartments in a village setting.\u00a0 Homes are integrated into nature and feature the use of local materials from the antique style hand-crafted tiles to the luxuriously finished terra cotta floor tiles.\u00a0\u00a0<\/p>\n I have often compared Panama City as the Miami South as\u00a0it hold similarities and Miami offers a glimpse into what is happening in other parts of the world.\u00a0 It is worth paying attention to trends to see what is happening and why.\u00a0 \u00a0\u00a0\u00a0<\/p>\n As reported in the Daily Business Review, “the economy may continue to struggle, but the appetite for ultra-luxury condos from Coral Gables to Bal Harbour is getting stronger.\u00a0<\/p>\n In the last three months, five buyers paid prices ranging from $8.7 million to $15 million for some of South Florida\u2019s most luxurious penthouses. The five condos \u2014 with prices totaling $52.7 million \u2014 matched the number of condos sold in that price range in all of 2007, according to an Esslinger Wooten Maxwell report. In 2008, four condos in that price range sold for a total of $40 million.\u00a0<\/p>\n As pricey as the condos may seem, the sudden demand is likely tied to a drastic reduction in asking prices, several brokers said. Until recently, the gap between what buyers were willing to pay and what sellers wanted for their properties was hard to overcome.\u00a0<\/p>\n \u201cHigh-end buyers are recognizing the values<\/strong><\/em> that they are getting,\u201d said EWM president Ron Shuffield, whose company brokered two of the five deals. \u201cEven though these units are very expensive, they are also very large, very luxurious and the views are amazing.\u201d\u00a0<\/p>\n \n \u00a0\u00a0<\/p>\n The keyword repeated again and again is “value” <\/em><\/strong>and even in Panama, the market will gain velocity once there is a perceived value<\/em><\/strong> in property.\u00a0 I am often asked what is happening in the market today.\u00a0 In Panama one must rely on experienced local real estate agents to get a true handle on the market as there is no US type MLS and sales are not necessarily reported on a 100% of price basis so there is only speculation as to where prices are today and where they are headed.\u00a0 A good report that offers some insight into the luxury market in the US\u00a0is put out weekly by the The Luxury Home Institute and is interesting as it shows some recent\u00a0trends.\u00a0 Again, while it’s not about Panama, it offers a picture of what one of the world’s largest real estate markets is experiencing and trends that may offer some insight as to the sweet spot for home prices in a market where Panama still receives most of its customers.\u00a0\u00a0<\/p>\n How’s the market?<\/strong>\u00a0\u00a0<\/p>\n That’s the question this report answers for the “luxury market” nationwide, and for the luxury markets in more than 30 major metro areas.\u00a0\u00a0<\/p>\n The\u00a0ILHM Luxury Market Report<\/em>\u00a0is a snapshot of the national luxury market.\u00a0 Like the Case-Shiller Composite Index and other national indices, it is a bundle of data from markets around the country that give a simplified view and try to get at the question of what’s happening in the marketplace.\u00a0\u00a0\u00a0<\/p>\n Unlike virtually all of the other reports and indices out there the\u00a0ILHM Luxury Market Report<\/em>\u00a0is focused exclusively on THE TOP OF THE MARKET.\u00a0 We know that markets are local.\u00a0 We also know that in a given place, at a given time, different price segments perform differently.\u00a0 Trophy homes at the top of the market might be in high demand and setting new price records, while in the same city starter homes might be stagnant and seeing major downward price pressures (or vice versa).\u00a0 Most major indices ignore this fact and lump all market segments together to get at some sense of overall market trends.\u00a0 We don’t.\u00a0\u00a0 Read the entire report…….<\/a>\u00a0\u00a0<\/p>\n \u00a0\u00a0\u00a0<\/p>\n The last article I am posting is one that may offer some insight as to what Panama may see in the future as the overhang of condo units fully come on line.\u00a0 While not as big as Miami, Panama is a small country and has a small market\u00a0but when compared to Miami,\u00a0it has a lot\u00a0of similarities in the amount of inventory.\u00a0 What we see happening\u00a0 in Miami is worth watching as there real estate game plays out.\u00a0\u00a0<\/p>\n The Real Estate Channel reports overview.\u00a0 (MIAMI, FL) — No market in the United States has more unsold luxury condominium homes than Miami.<\/p>\n Developers are reportedly holding at least 10,000 units for sale. Another 23,000 have been built in and around Downtown Miami or in some stage of completion.<\/p>\n What does all that mean to the market?\u00a0 Great buys for the individual buyers and maybe the same for the bulk sales purchaser.\u00a0\u00a0Read the entire report…… If you have a property to sell, you will know only too well how hard it is sometimes\u00a0to find that elusive buyer. What though, if you could find someone in the same situation, who wants to move where you are, and vice versa? What if you own a luxury estate that you don’t use often enough and want to explore new parts of the world.\u00a0 Or, you have a property and a dream that due to a change in plans is not what you want to do or where you want to do it.\u00a0\u00a0Well, we have set up Panama Property Exchange<\/strong>\u00a0and we may help you find that match.\u00a0\u00a0\u00a0 We will select a few properties each week that we feel offer good value and are not over leveraged and we hope that you will drop us a line to see if\u00a0\u00a0your property\u00a0may a fit.\u00a0\u00a0<\/p>\n The slowdown in the property market\u00a0means that you may have to explore different options to sitting around with a for sale sign.\u00a0\u00a0\u00a0\u00a0There are other ways to\u00a0 move property, we believe that this may offer you a viable option.\u00a0 There\u00a0may\u00a0be someone out there who wants what you have and vice versa so why not give it a try.\u00a0\u00a0<\/p>\n![\"\"](\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2010\/07\/multiplaza-mall.jpg\" "\\"multiplaza-mall\\"")
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<\/a>\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\nWhat to look for in Panama Luxury Estates that offer good value<\/h2>\n
\u00a0\u00a0<\/p>\n\u00a0\u00a0<\/p>\nMiami’s luxury market is getting stronger<\/h2>\n
\u00a0\u00a0<\/p>\n\nILHM National Luxury Market Report<\/h2>\n<\/div>\n
Will Bulk Sales Stabilize Miami’s Luxury Condo Market?<\/h2>\n
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\n<\/a>\u00a0\u00a0<\/p>\nPanama Property Exchange<\/h1>\n