RETIREMENT PROPERTY vs. INVESTMENT PROPERTY A common decision for many people looking to move to Panama is whether to buy an “investment property” or “retirement property.”  The terms are often used interchangeably but there is a big difference.

 

RETIREMENT PROPERTY OR SECOND HOME:

A retirement property can take many forms.  It can be a turnkey home; an empty lot ready for a home to be built; a lot in a development with restrictions on what can be built; even a condo or apartment in the city. In all cases there will be water, electricity, roads, and the infrastructure in place for a homeowner to move in or build a new home.

When buying a retirement property you must consider the price that you are paying includes the development costs, i.e. land purchase cost, infrastructure development cost, building cost, plus the salaries for everyone involved (from the lawyers to the bricklayers).

For the absentee owners who want to rent their home when they are away, you can estimate earning about $300-$500 per month. 

To make a profit on this type of investment will take a long time and “flipping” is difficult because we are in a buyers market where many home and lot options are available.

Here is a good example of a retirement property http://www.panamacoastproperty.com/beachfront-homes.html (Oceanfront sea side home).

 

INVESTMENT PROPERTY:

This is characterized as land that will generate a significant profit in relatively short time period.  This type of property is not an individual lot, but a parcel of land ideal for building more than one home.  It can also be a “land banking” scenario where the price of the property is so cheap that it will undeniably increase over a few years and give a fantastic ROI.  In both cases the buyer may have to make some infrastructure improvements and should be careful when calculating cost of improvements vs. the selling price.

In this situation, the investor should realize he may have to do some legwork (there are several quality English speaking firms in the area dedicated to this work), but will take all the profit.  Remember, labor costs are cheap in Panama.

Here is an incredible oceanfront investment property example http://www.panamacoastproperty.com/beachfront-homes.html (Rancho Tranquillo).  In this situation the investor has the best of worlds, a turnkey home ready to be occupied and an additional 4 lots available for sale with infrastructure in place.  All it takes is a motivated seller to recapitalize.  Imagine purchasing the property for $350,000 and selling four large oceanfront lots at (you name the price)!

The rainy season is upon us and sometimes can cause the blues, but paradise has its way of making even the gloomiest  of days seem bright. This shot was taken from the porch of Rancho Tranquillo property that is currently for sale at $350,000. I guess the pot of gold really is in our backyard.

Local surfers take advantage of uncrowded waves.

Please enjoy this short piece highlighting the updates on Panama Coast Property's developments.
See it below or go to vimeo.com and see this link. http://www.vimeo.com/12702327

One of the suggestions we always have for people, especially those foodies that might be traveling or moving down to Panama, is to stop at the roadside stands or the fruit/vegetable markets that you may see on the roadside, countryside, or on the outside of towns. These provide some of the best fruit and veggies in the country. Most of the time, these are from the private gardens of local people that are looking to earn a few extra dollars. So, not only will this make you happy at eating delicious food, but you will also be helping out the locals that work the land and make this country as special as it is. Check it out and eat up!!!!

There has been a few changes over the last few weeks.
Not only is the main highway from Atalaya to Torio (the main road, the only road) being repaved but all the potholes are being fixed. This is great news for people with kids, drivers that need to use the restroom or just impatient car people. The road is smoother, the drive is therefore shorter and it makes everyone a little bit more happy I am sure.
That may be the best news update (for our family it is) but we also have news on the forefront of PCP as well.
Not only are we showing lots and developments to many planned people over the next couple of months, but we will be putting out more and more photos and video updates soon as well. Please see some photos below.

Lots are being formed for the first phase at Alta Vista and we are now discussing construction and house design ideas with people. The road is getting better and better and our water diversion and Drainage system is in the completion/drying stage. Please stay tuned for more updates!!!

Pads for the above 50 sties at the Alta Vista are beginning to be created. The pads give people a better idea on where the houses will be located on the lots, what sort of views each house will have and of course, how close (or far rather) your neighbors will be. Some of the pads are 1,000sq meters!
Each pad might be a different size, all depending on the shape of the property itself and with any surrounding waterways, trees or other landsites.
If you would like to see more about the Alta Vista Development, please look at this page: http://www.panamacoastproperty.com/gated-communities.html

Or feel free to contact us on the development of this piece of land.

The Veraguas Province has great historical significance. Not only can we claim Christopher Columbus fame, but we can claim both coasts in our province, warm climate, cooler climate, classical Baroque architecture in our churches, mountains, coastlines and of course National Parks. From the uninhabited regions of the Caribbean Coast to the mountains of Cerro Hoya in the south, the Veraguas Province offers so much to explore, live and experience.


Veraguas was explored by Christopher Columbus on his fourth voyage. He tried to establish the first colony in the new Spanish mainland but failed due to attacks from native Indians. In reports to the Spanish crown he mentions gold, and the local civilization has in fact produced remarkable pieces of jewelry. Diego de Nicuesa also tried to make a colony and failed, which made him create a colony to fight against the Indians called Nombre de Dios. Its capital, Santiago de Veraguas, was found in 1636.

It is said that its name comes from the indigenous word "Veracua" or "Viragua." It is the only province in Panama with coastlines on both the Caribbean Sea and the Pacific Ocean. The majority of people live on the pacific side, the Caribbean coast is mostly unihabited.

Veraguas has many groups of inhabitants, mainly of Spanish-Indian origin named campesinos. This land offers tourists and visitors close contact with nature. Forests, mountains, coasts and islands where there are more than 200 varieties of orchids; more than 400 species of birds, besides mammals, reptiles and insects.

Veraguas has various national parks. The Coiba National Park, (with the largest coral reef of the Pacific Coast of America), Cerro Hoya National Park (covers the southwest part of the Azuero península and the sea that surrounds it), Santa Fe National Park (a wonderful virgin forest in the northern region of the province), La Yeguada Forest reserve (with a great artificial lake for the production of electricity)and El Montuoso Forest reserve.

Beaches such as Playa Santa Catalina, Playa Mariato, Malena and Torio offer great places for recreation, surfing and fishing.

Other famous touristic areas is the Iglesia de San Francisco de la Montaña.This Church has a Baroque architecture and dates back to 1727. It was declared a National Historical Monument on January 27, 1937.


above information provided by:
http://www.worldlingo.com/ma/enwiki/en/Veraguas_Province

Panama offers an educational side as well to all its natural beauty and working opportunities. First off, there is tons of history here the Republic of Panama. In Panama City you can obviously see the Spanish colonial influence in Casco Viejo and you can see the remains of some ruins around the capital city, but outside of Panama City you can find the jewels that are worth seeing.
There are a series of petroglyph sites that are scattered through the country. Nancito, Las Palmas and others in the Veraguas Province before you reach Chiriqui are really worth visiting. The towns have government funded museums and in a sense, this makes these tourist destinations. The towns are quiet, quiant and usually clean.
An exciting opportunity in Panama for learning is the Smithsonian Tropical Research Institute. With places in Barro Colorado (think Galapagos in the middle of the canal), Bocas Del Toro, Punta Culebre and Galeta, STRI offers many opportunities to meet, see and experience the natural wildlife and its environment in the natural form.
Not only are these great for adults, but wonderful places of learning for children. Student Discounts are offered and pensioners would also be able to see a discount.
Visiting one of these STRI research centers, one would feel as if they are visiting a well-built and organized natural history museum anywhere in the world.


www.stri.org