Panama & Caribbean Investment: #5 We are offering condos under 99K!!!
Here at Bala Beach have recognized a problem both in Panama and worldwide for that manner: Why are beachfront homes with ocean views only accessible for the wealthiest among us?
Typical beachfront developments that include an ocean view range in price from $300K well into the millions. These are beautiful developments that overlook the tropical oceans of Panama. However, these developments are priced out of range to a sizable majority of potential residents looking for a place on the beach either in Panama or elsewhere in the Caribbean. The units that are affordable are second tier units without ocean views or are set off of the beach.
Buying affordable beachfront condos with ocean views doesn’t have to be this way. People can have a world class beachfront community with all the amenities and ocean views for an affordable price. Bala Beach delivers beachfront for under $99K! A full 60% of the units offered are under $150K and even the 2 story penthouse lofts with rooftop terraces are priced in the low $300k.
Nay-sayers will protest “Well Bala Beach has to cut back on the amenities to sell at that price.†Not true. Bala Beach is raising the bar for standard amenities here in Panama and this is how:
Floor to ceiling glass windows with views instead of only small viewing windows.
Open American style kitchens and floor plans instead of closed-in Latin style.
Large balconies overlooking the Caribbean instead of cherry picker sized ones.
Hardwood flooring instead of tile flooring.
Natural stone countertops instead of Formica.
Basin style sinks instead of sunk steel sinks.
2 story world class health and wellness center with onsite nutritionist, personal trainers, machine and free weights, yoga and other exercise classes instead of unused condos with a couple of medicine balls.
Our philosophy is to get people from around the world onto the Caribbean for an affordable price. This philosophy does not only try to serve a high minded purpose, it has a business practicality component to it as well.
We know from market research what the average John and Jane Doe getting off the tarmac are able and willing to spend. These people want to live or have a second home/rental property on the beach but do not want sell a member of their family to afford it. With our prices now and even after the forecasted property appreciation, we will offer affordable units to 80% of the John and Jane Does of the world.
To the Panama and/or real estate investor, you are able to buy into a development, receive property appreciation, and still be able to resell or rent to the masses thus vastly increasing your number of potential customers. Where as having a million dollar unit, you have a lot of property appreciation on paper, but you have a very small market of people to sell for.
Bala Beach has brought beachfront back.
Panama & Caribbean Investment: #4 $1 Billion invested in Panama’s Caribbean Coast
There was a very intriguing article translated by Panama Guide’s Don Winner about the $1 billion dollar investment over the next 5 years being injected along Colon’s Caribbean coast. Developers, tour operators, restaurants, and other enterprises are among the list of businesses investing money into the Caribbean coastline.
($1Billion investment going to Panama’s Caribbean coast)
This surge of capital being poured into the coastline stretching from Maria Chiquita to Isla Grande stems from the government’s efforts to spice up the once sleepy Caribbean getaway. The Panamanian government has enacted two major initiatives that are attracting both Panamanian and foreigners alike.
One of the main components fueling this is the new Panama – Colon Highway. This highway is going to uncover this whole area to weekenders and tourists. Currently, the drive is more than an hour and a half and is extremely frustrating for commuters. However, with the completion of the next highway coming in less than 9 months (April 2009), this commute is going to be dramatically reduced to 45 minutes.
The second part of the government initiative is to reclassify the entire region from Maria Chiquita to Isla Grande as a tourist zone. As a result, investors, developers, and entrepreneurs have been given the proper financial incentives in the form of tax breaks and other measures to encourage the commitment of their capital.
The combination of a much reduced commute and rezoning has resulted in approximately $1 billion dollars being poured into the area. There are residential developers from Spain, Holland, and other countries building at least 4 new developments that will have the capacity to host more than 20,000 residents and tourists annually, which is 5 times the current capacity.
(Beachfront cafes and resturants)
What does this mean for Bala Beach?
In addition to the millions of dollars we are spending to develop our tropical beachfront community, the area is seeing hundreds of millions more in other residential, commercial, and entertainment ventures. In Bala Beach, you have the opportunity to invest in a place that is on the cusp, with the combination of infrastructure and financial fundamentals to create something unique.
In addition to the $1 billion dollars of initial investment, the second wave of investment is coming down the road. These later changes will be in the form of commercial strips, beachfront restaurants and cafes, tour companies and sailing expeditions, and other secondary entrepreneurs who will round out the community.
(Sailing expeditions)
Bala Beach and the incoming investment around it, is not a “someday it will happen†pipedream that never comes to fruition. On the contrary, the construction of the highway has commenced and the rezoning has already taken place, making this investment not a matter of “if,†but “when?â€
Panama & Caribbean Investment: #3 the closest beachfront community in all of Panama
Bala Beach is located less the 45 minutes from Panama City’s Tocumen International Airport establishing Bala Beach as the closest beachfront community that Panama real estate has to offer.
(Tocumen International Airport)
What does this mean for the Panama Investor or a person just looking to live or retire in Panama?
Well first off, Panama’s fastest growing and most sustainable sector of the economy is tourism. Every year hundred of thousands of tourists make Panama their vacation destination and this number is increasing rapidly. A solid number of these tourists are searching for a tropical place to stay that is located close enough to the Panama City, so that they can drop into the city and see the sights and then bounce back to their beachfront rental. Thus, Bala Beach is best suited to satisfy this desire because of its 45 minute proximity to Panama City.
Panama is consistently ranked internationally as the best and cheapest place to retire in the world because it offers residents such a great value. With 13,000 baby boomers from the US retiring daily and even more internationally, this demographic is sizeable and will continue to grow. Similar to the vacationers, retirees are seeking a place that is out of the traffic congested streets of Panama City for a more laidback lifestyle. However, retirees want to be close to Panama City to conveniently drop into the city a couple times a week or month. They do not want to drive 2 plus hours or pay the high prices to fly there.
(Tropical living at Bala Beach)
Furthermore, retirees want to be located close to the Panama’s best medical facilities, most specifically the John Hopkins center in Punta Pacific. John Hopkins medical center is one of the biggest, if not the top selling point that retiring in Panama has to offer. Once again, being 2 plus hours or an expensive flight away is not ideal or desirable for timely medical services.
(Bala Beach is the closest beachfront community to John Hopkins medical center)
Before investing you must understand some of the deciding factors for people you are going to rent out or sell to. As I have explained above, being the closest beachfront community in all of Panama, Bala Beach is able to satisfy the location desires of both vacationers and retirees in Panama.
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