| DONALD TRUMP can't be wrong, can he? Trump has | | | | The Panama Canal recorded its third consecutive year |
| fallen so much in love with Panama that he is building a | | | | of double-digit growth in toll revenues. Tourism and |
| $220 Million, 65 story (2.4 Million square foot) hotel | | | | financial services also made impressive growth gains. |
| condo monoliths called the Trump Ocean Club | | | | Americans came back to Panama because of the |
| International Hotel & Tower in a posh Panama City | | | | excellent infrastructure built by the Americans, low |
| neighborhood. Trump will build 500 luxury condominium | | | | crime, numerous English-speaking natives, great |
| units along with a 312-room hotel. This complex will | | | | Immigration Visa programs; the currency has always |
| include a casino, private beach club and a marina. | | | | been the U.S. Dollar, and great Tax incentives. |
| Groundbreaking is scheduled around this Christmas | | | | The Best Reason is that Panama is so cheap to live! |
| with a completion date in 2009. | | | | Land, housing, local foods, transportation, leather goods, |
| Why is Trump doing this in Panama of all places? In an | | | | clothing, and local artisan wares are all far cheaper |
| April 24, 2006 press conference in New York, Donald | | | | than anywhere in North America or Europe. |
| Trump said his interest in Panama was sparked three | | | | Don't Take My Word for it. Read what leading experts |
| years ago when his "Miss Universe" pageant was held | | | | have to say about Panama's real estate opportunities. |
| in Panama. He saw that Panama city was "beautiful" | | | | The NY Times recently wrote: "Panama is increasingly |
| and vowed he would develop there if the right | | | | lighting up the radar screens of those searching for an |
| opportunity came up. His project was "easily funded", | | | | affordable alternative to the more traditional |
| noting that as many as seven "major financial | | | | south-of-the-border retreats in Mexico, Costa Rica and |
| institutions were fighting to put up money." He agreed | | | | the Caribbean, where escalating prices increasingly |
| that "Americans are coming in droves to Panama," due | | | | rival those along America's own beach fronts." |
| to it's political stability, low cost of living, low interest | | | | Forbes Magazine (July 11, 2005) praised Panama as a |
| rates, and being located outside of any hurricane path. | | | | recommended "PARADISE FOUND: WHERE TO |
| "It's great for baby boomers." Trump said, although the | | | | RETIRE ABROAD" where a U.S. couple "purchased a |
| project will be marketed worldwide. The condominium | | | | lot on a hill overlooking a golf course and have built a |
| units will start at $180,000 with unobstructed ocean | | | | three-bedroom white-stucco house with a red-tile roof |
| views. | | | | (total cost: about $250,000)." in Boquete. "You can hear |
| Panama is just beginning to realize a real estate boom! | | | | the sound of rivers here," says Janet. "It's very |
| Besides Trump, many international real estate | | | | peaceful." |
| investors are also discovering Panama. | | | | National Association of Realtors: Tom Stevens, who is |
| For example: | | | | their current President, recently visited Panama and |
| Bigger Than Trump: An even taller skyscraper will be | | | | explained: "We're seriously thinking of investing here. It's |
| built near Trump's Tower. The Ice Tower will have | | | | a great opportunity. Prices are what it was like in the |
| over 100 floors making it the tallest building in all of Latin | | | | U.S. 20 to 25 years ago." |
| America, tied with the Empire State Building as the | | | | The London Financial Times wrote in its April 14, 2005 |
| second-tallest in the Western hemisphere and 9th in | | | | issue that Panama is now passing Costa Rica as the |
| the world when it is completed in 2010. | | | | place to invest. "Like Costa Rica, Panama is loaded |
| And Another! Even before Trump's Tower and The | | | | with exquisite beach towns, has inviting tax and |
| Ice Tower are completed, another skyscraper (93 | | | | ownership policies for foreigners and a long history of |
| floors) called El Palacio de la Bahia will be completed in | | | | political stability. Moreover, Panama City is an urbane, |
| 2009 costing over $160 Million. They've already sold | | | | safe city that has long had a military and civilian US |
| several dozen condos mostly to Europeans because | | | | presence because of the canal. A gated-community, |
| this is a totally European investor project. | | | | three-bedroom luxury home on a golf course in the |
| I asked a Panama City real estate brokerage owner, | | | | mountains can be had for $250,000 to $350,000, real |
| Daniel Hanna (Panama Real Estate Group what he | | | | estate experts say... Chuck Bedsole, who oversees |
| thought about how the Ice Tower and Trump's Ocean | | | | Latin American real estate for |
| Club will affect Panama's Real Estate prices? His | | | | PriceWaterhouseCoopers, thinks Panama is at an |
| response echoes most real estate agents in Panama: | | | | earlier stage in the real estate boom." |
| "As Panama continues to grow in many different | | | | Conde Nast Traveler's October 2004 issue declared: |
| industries, these projects will definitely set a new | | | | "Panama is the new Central American bargain where |
| standard of living in Panama, thus increasing the prices | | | | the U.S. dollar - the market currency - goes a long |
| around the entire country." | | | | way." |
| So, why are all of these real estate investors coming | | | | Is it Safe to Buy real estate in Panama? Buying Real |
| to Panama? | | | | Estate in Panama is safe and secure for foreigners. |
| A little History will help explain these phenomena. | | | | The U.S. State Dept. verifies this by stating: "Titled land, |
| Panama has always had a close relationship with the | | | | and the process of buying this, is similar in concept to |
| United States, which helped Panama to secede from | | | | that of the U.S., and land deeds are duly recorded with |
| Colombia in 1903 and was the first country to | | | | the Public Registry..." |
| recognize the new Republic of Panama. The U.S. | | | | How Long Will this Boom Last? It's just starting. Donald |
| government built the Panama Canal starting in 1904. | | | | Trump hasn't even broken ground yet. |
| Only until the year 2000 did Panama actually take | | | | Daniel Hanna, the Panama City real estate broker, |
| control of its Canal after the U.S. closed all of its | | | | reiterates: "Invest in Panama real estate now before |
| military bases and left. People used to jokingly refer to | | | | the Towers are completed. Panama will become a hot |
| Panama as the "United States of Panama" due to its | | | | real estate market because it has so many attractions |
| close ties to the U.S. After the U.S. left, Panama's | | | | than just real estate construction. Soon, the world will |
| economy slumped. Then American retirees | | | | know Panama for its natural beauty, healthy climates, |
| re-discovered Panama as a peaceful, safe, and cheap | | | | and charismatic people. Living in this beautiful country is |
| place to retire. | | | | just a benefit!" |
| Economical Growth: In 2004, real estate construction | | | | The National Geographic Traveler predicted in |
| activity sprang up in different parts of the country. | | | | December of 2004: "Panama is now where Costa |
| Mostly retirement communities nestled amongst the | | | | Rica was 10 years ago. Panama is getting ready to |
| many beautiful unoccupied beaches and mountain | | | | explode." |
| valleys. In 2005, construction permits rose by 90% | | | | "Boom" I can hear the distant rumbling of a Big Boom |
| while Panama's economy grew by a respectful 6.4%. | | | | yet to come! |