Vista Boquete Weblog

Building 1, Rosa, Gets a Coat of Paint!

See our new photos of Building 1, Rosa as of July 1, 2008.  The building is almost finished and is getting painted now.  The parking awning will be the next to go on as well as the inside work continues.

The Administration building's roof is almost complete.  The Vista Boquete staff is expected to be on site by early August.  We are very excited about the move on the the property. 

Take a look at the photos to the left and let us know if you have any questions or would like more information on our project.  We can be reached at info@vistaboquete.com or toll free at 800-260-8512.

Tourists Spent $1.1 Billion in Panama in 2007

       

     

    Juan Carlos Mastellari Speaking Before the CADE  

  By Roberto González Jiménez for La Prensa - Tourists visiting Panama in 2007 spent more than $1.1 billion dollars in the country, representing a 23% increase over the level of tourist activity for 2006, according to Panama's Minister of Commerce and Industry Carmen Gisela Vergara, who spoke yesterday during the inauguration of the 42nd Annual Conference of Business Executives (CADE.) Vergara addition that approximately 114,000 Panamanians are employed in the tourism industry throughout the country.

CADE -2008

Turistas gastaron $1,100 millones en 2007

LA PRENSA/David Mesa Juan Carlos Mastellari, presidente de Apede.1017064

Roberto González Jiménez rgjimenez@prensa.com

Los turistas que ingresaron a Panamá en 2007 gastaron mil 100 millones de dólares, lo que representó un 23% más que en 2006, reveló ayer la ministra de Comercio e Industrias, Carmen Gisela Vergara, durante la inauguración de la 42 edición de la Conferencia Anual de Ejecutivos (CADE).

Vergara dijo, además, que el sector generó unos 114 mil empleos en todo el país.    

Panama--Still the World´s Number-one Overseas Retirement Option

The Asian perspective of the best places to retire.

The cost of quality retirement living options in the United States has risen well beyond the budget of the average would-be retiree. The current meltdown in U.S. housing costs doesn´t change this fact. Most Americans are worried they´ll never be able to afford to chase their retirement dreams. The answer is to think outside the box--the box being the United States. This isn´t a new idea, but it´s truer and truer, as ever-increasing numbers of Americans consider leaving the States in search of a quality retirement lifestyle they can afford.  the gateway to the Americas.

The Six Best Overseas Retirement Havens For 2008-- Where To Retire Well On Less Than $1,500 A Month.

The cost of quality retirement living options in the United States has risen well beyond the budget of the average would-be retiree. The current meltdown in U.S. housing costs doesn´t change this fact. Most Americans are worried they´ll never be able to afford to chase their retirement dreams.

The answer is to think outside the box--the box being the United States. This isn´t a new idea, but it´s truer and truer, as ever-increasing numbers of Americans consider leaving the States in search of a quality retirement lifestyle they can afford.

Once you expand your retirement options to include those outside this country, you realize you can enjoy a rich and satisfying life even on a modest budget.

Specifically, the editors of Live and Invest Overseas have identified six overseas havens where you could retire and live well on $1,500 a month or less:
Read the rest of the story at Asia property report.

Panama, holds keys to the universe!

Since its discovery in the early 1500's, Panama was considered the center of the universe because of its strategic location in the new world. Somewhere along its shores there must be a route to the other side and the big southern ocean and riches beyond imagination. This fascinating narrative from a chapter of a new book about Panama can be found on the USA Today website.

CHAPTER ONE

"THE KEYS TO THE UNIVERSE"

What had motivated the voyages that led to the discovery of the New World was exactly what the Panama Canal would eventually deliver—a through passage to the East. On his fourth voyage, in 1502, Columbus, by then embittered and sickly, sailed all along Panama's northern coast, obsessively searching every tiny cove for a "hidden strait." At one point he anchored in Limón, or "Navy," Bay, now the Atlantic terminus of the canal. Even after Columbus's failure to find an open passage to the East, the idea died hard. In 1507, the first map ever printed of the New World optimistically showed an open strait about where the Isthmus of Panama is located.

Read the rest of this chapter here....

Since its discovery in the early 1500's, Panama was considered the center of the universe because of its strategic location in the new world. Somewhere along its shores there must be a route to the other side and the big southern ocean and riches beyond imagination. This fascinating narrative from a chapter of a new book about Panama can be found on the USA Today website.

CHAPTER ONE

"THE KEYS TO THE UNIVERSE"

What had motivated the voyages that led to the discovery of the New World was exactly what the Panama Canal would eventually deliver—a through passage to the East. On his fourth voyage, in 1502, Columbus, by then embittered and sickly, sailed all along Panama's northern coast, obsessively searching every tiny cove for a "hidden strait." At one point he anchored in Limón, or "Navy," Bay, now the Atlantic terminus of the canal. Even after Columbus's failure to find an open passage to the East, the idea died hard. In 1507, the first map ever printed of the New World optimistically showed an open strait about where the Isthmus of Panama is located.

Read the rest of this chapter here....

Panama promoted in Toronto

The show and tell of PanaExpo continue, this time in Toronto. This group are good ambassadors for Panama sharing with various communities in the U.S. and Canada about all the good things Panama has to offer.

Here is their press release.

Groundbreaking world class 3-day trade show exhibits real estate investment and lifestyle opportunities in Panama

TORONTO - Vladimir Reznik, Executive Director of PanaExpo 2008 is pleased to announce that Royal LePage - Your Community Realty is endorsing the upcoming Panama Festival & Expo 2008 to take place at the Toronto Congress Centre on May 2 - 4, 2008.

     Royal LePage - Your Community Realty teams up with Times Realty Group to promote Panama Real Estate at PanaExpo 2008. Mr. Reznik says, this alliance is significant, as Canadians are looking to familiar sources they can trust.

     According to HiFX, one of the largest providers of foreign exchange services, nearly 30 percent of all real estate clients in Central America are Canadian.

     The Expo serves to educate and inspire visitors to become a part of Panama, coined "bridge of the world, heart of the universe". Earning a reputation as the "Hong Kong" or "Dubai" of the Western Hemisphere, Panama is experiencing an unprecedented big-business boom especially in its capital, Panama City, where some of the world's most prominent players, including Versace, Trump, Johns Hopkins Hospital, Scotiabank and Philippe Starck are making waves.

Read the whole Press release here....

The show and tell of PanaExpo continue, this time in Toronto. This group are good ambassadors for Panama sharing with various communities in the U.S. and Canada about all the good things Panama has to offer.

Here is their press release.

Groundbreaking world class 3-day trade show exhibits real estate investment and lifestyle opportunities in Panama

TORONTO - Vladimir Reznik, Executive Director of PanaExpo 2008 is pleased to announce that Royal LePage - Your Community Realty is endorsing the upcoming Panama Festival & Expo 2008 to take place at the Toronto Congress Centre on May 2 - 4, 2008.

     Royal LePage - Your Community Realty teams up with Times Realty Group to promote Panama Real Estate at PanaExpo 2008. Mr. Reznik says, this alliance is significant, as Canadians are looking to familiar sources they can trust.

     According to HiFX, one of the largest providers of foreign exchange services, nearly 30 percent of all real estate clients in Central America are Canadian.

     The Expo serves to educate and inspire visitors to become a part of Panama, coined "bridge of the world, heart of the universe". Earning a reputation as the "Hong Kong" or "Dubai" of the Western Hemisphere, Panama is experiencing an unprecedented big-business boom especially in its capital, Panama City, where some of the world's most prominent players, including Versace, Trump, Johns Hopkins Hospital, Scotiabank and Philippe Starck are making waves.

Read the whole Press release here....

http://www.property-report.com/aprarchives.php?id=1403&date=210408

Exceprt;

"According to one report 35 towers of over 20 floors are in construction. Besides the danger of overbuilding, there are stress signs of too-rapid growth: brownouts from an overtaxed electricity grid, a Third World sewage system under the First World high-rises. Filth is still pumped into the bay. The government says it is working on sewerage improvements."

"Canal revenue has jumped from $500 million to $1.8 billion since Panama took over eight years ago, and even a small cut of all the commerce with Asia coming through the expanded canal is likely to make a nation of 3.3 million quite prosperous over the coming years."

Who needs Liechtenstein or the isle of Jersey? We've got a lovely tax haven right in this hemisphere.

Read the story at Forbes...

GDP: Panama Best, Mexico Worst

The Latin Business Chronicle has come out with the best and worst of Latin American GDP numbers and Panama has come out on top.

Excerpts;

Panama and Peru are the stars of economic growth in Latin America, while Mexico, Ecuador, El Salvador an Venezuela are the top losers.

BY CHRONICLE STAFF

Panama

will continue to have Latin America's highest economic growth, while

Mexico

will have the lowest, according to a Latin Business Chronicle analysis of new data from the International Monetary Fund (IMF).

Panama

will see GDP growth of 7.7 percent this year and 7.2 percent next year. That's the highest rate in Latin America and follows

Panama

's growth of 11.2 percent last year, which also was the best in the region. In fact, it was also the best result in

Panama

's recent history, according to IMF data for the past 27 years. 

Read the whole story at LBC..

Panama too Expensive? Complete bull!

From International Living

“You can still find great apartments in Panama City
for less than $70,000 and live well on $1200 per month!”

Thursday, April 10, 2008

Dear International Living Reader,

Dan Prescher

Over the last two years, we've been hearing rumblings that Panama has gotten too expensive … that it's no longer a good deal. And we've heard that not only from readers, but also from a few staff members. 

So here's where we set the record straight.

The Panama that's been our favorite for years deserves a broader approach. A fresh look … a deeper look.

Panama has long been the prime choice for retirees, second-home buyers, and property investors alike. Readers have retired in style, enjoyed terrific vacation homes, and made money. The country deserved the #1 spot on our Global Retirement Index for six straight years. It’s been a winner.

But we decided to dig deeper … to broaden the appeal of this successful destination.

Our work paid off.

Yes, we’re still well-connected to the premium property market that has made Panama a mainstay with property buyers and investors from around the world. The Panama that offers the luxury of Miami at a fraction of the price is still there … and it’s still booming.

But we’ve gone a step further.

We’ve tapped into the local market and found investment and lifestyle properties that are so affordable many people thought they were gone. Properties marketed to the local buyer rather than the foreign buyer, including:

Apartments in Panama City for less than $70,000.
Prime building lots on the edge of town starting at $25,000.
Good rental apartments starting at $350 per month
Beachfront lots on the shimmering Pacific at $125,000 for almost an acre … with small beachfront parcels starting at an amazing $38,000!
A rolling green 10 acre farm in the hills of Chiriquí for just $30,000.
Expensive? No … it’s a bargain.

It’s the hidden, affordable Panama. A place where you can still live on $1200 per month.

From International Living

“You can still find great apartments in Panama City
for less than $70,000 and live well on $1200 per month!”

Thursday, April 10, 2008

Dear International Living Reader,

Dan Prescher

Over the last two years, we've been hearing rumblings that Panama has gotten too expensive … that it's no longer a good deal. And we've heard that not only from readers, but also from a few staff members. 

So here's where we set the record straight.

The Panama that's been our favorite for years deserves a broader approach. A fresh look … a deeper look.

Panama has long been the prime choice for retirees, second-home buyers, and property investors alike. Readers have retired in style, enjoyed terrific vacation homes, and made money. The country deserved the #1 spot on our Global Retirement Index for six straight years. It’s been a winner.

But we decided to dig deeper … to broaden the appeal of this successful destination.

Our work paid off.

Yes, we’re still well-connected to the premium property market that has made Panama a mainstay with property buyers and investors from around the world. The Panama that offers the luxury of Miami at a fraction of the price is still there … and it’s still booming.

But we’ve gone a step further.

We’ve tapped into the local market and found investment and lifestyle properties that are so affordable many people thought they were gone. Properties marketed to the local buyer rather than the foreign buyer, including:

Apartments in Panama City for less than $70,000.
Prime building lots on the edge of town starting at $25,000.
Good rental apartments starting at $350 per month
Beachfront lots on the shimmering Pacific at $125,000 for almost an acre … with small beachfront parcels starting at an amazing $38,000!
A rolling green 10 acre farm in the hills of Chiriquí for just $30,000.
Expensive? No … it’s a bargain.

It’s the hidden, affordable Panama. A place where you can still live on $1200 per month.

Panama City’s Hotel Shortage: Hotels Opening in the Next 3 Years

The Scoop on New Hotels To Be Built Soon: 1, 906 rooms in the next 3 years:

One of our biggest concerns in the tourism industry is the shortage of hotels in Panama City. Sometimes you cannot get a reservation. For large meetings it is recommended you now reserve 1-3 years in advance.

Fidel Reyes, a top Bern hotel executive, just did some research and came up with this list of all the hotels certain to be built in Panama City and nearby opening for sure from now until 2010.

134 Rooms The Holiday Inn City at Knowledge Opening March 27, 2008

102 Rooms The Radisson Colon 2000 Hotel and Casino Opening April 15th, 2008

134 Rooms The Bristol Buenaventura Opening December, 2008

103 Rooms The Radisson Summit Golf And Resort Opening April 2009

80 Rooms The Panama Marriott (ext.) 376 total Opening late 2009

125 Rooms The LeMeridian Hotel Opening June 2009

128 New Rooms Courtyard by Marriott (ext.) 248 total Opening fall 2009

800 Rooms Megapolis Condo-Apart-Hotel Opening late 2009 FIRST PHASE

300 Rooms Rennaissance Panama Opening late 2010

TOTAL: Aprox. 1,906 New Rooms in 3 years, counting the 800 condo-apart-hotel units, I’m sure some other small properties will open around the Marbella, Obarrio and San Francisco area.

Why the rich are looking to Latin America

Excerpt:

PANAMA

The country is experiencing a construction boom. The expansion of the canal, a free-trade agreement with the US in 2006, and the rise of a service-based economy that provides administration back-up to US companies have unleashed a building frenzy in Panama City. There are more than 35 towers going up, including the Trump Ocean Club, which has a sail-like shape reminiscent of the Burj al-Arab in Dubai. With another 300 towers in the planning process, it is estimated that there will be 40,000 flats on the market in 2010.

Who will buy them? Panama is still a country in transition. The shiny new towers are at odds with the poverty around them and the whiff of sewage from the canal on a bad day. The rental market is nowhere near as sophisticated as Mexico City or Brazil. US investors who might have bought have disappeared, and developers are targeting Europeans. For those ready to gamble that Panama will continue to flourish as Latin America's call-centre capital, property is cheap and the tax regime favourable, to companies as well as individuals. The Colón free-trade zone is home to 2,000 firms that employ expatriates from all over South America. A three-bed apartment in a 27-floor tower starts at £53,510 (Avila Taylor Global Estates 0161-238 4984).

Read the story here...