Time to move on

I have just turned 55 and I live in the modern 1st world Metropolis called Sydney down-under in Australia.

You have seen my city from the television; from the Olympics and from a whole pile of sporting events or your local ‘getaway magazine’.

Looks great eh?’ but just like anything it is becoming increasingly expensive.

I looked around the world for place where I might retire. Certainly something cosmopolitan as I am certainly used to with my first world lifestyle; great quality seafood and produce, welcome acceptance and a population of about 3 million would be perfect.

I would like a beach close by for a picnic,  a rain forest in reach for day trips, maids at $15 per day, drivers at $20. No taxation on income earned outside the country & no property taxes depending on the property.

Considerable discounts as a retiree, 2 1/2 hours to Miami by plane and short flights to explore the treasures of Central and South America. Carnivale in Rio or a quick tango in Buenos Aires or even a beach house in Punta del Este. All close, all affordable and accessible from your home in Panama.

With no taxes on income earned outside Panama and the low cost of living throughout the area, I can afford to enjoy my retirement with my new found friends and a whole new world to experience.

For the Europhiles there are direct flights to Europe daily; and for the Love-Boaters, Panama is the hub for cruising in all directions.

I will miss my cleaner as the $60 for just 2 hours work per week becomes a little harder to justify; working less, earning less, and thinking ahead.

I certainly will not miss paying $5 for a beer and then $50 for a bottle of wine.

I will not miss the taxation on every aspect of my life and then some, and having lived through the VAT implementation in both UK and Australia I can tell you that you will hear lots about how its not going to cost any more than now, and I can tell you that’s just not true.

I wanted to maintain my 1st world income and afford more of my first world pleasures in a first class environment. Then I realized it was time to move on

Click on BUY PANAMA to follow this thought.

I’m not quite ready to move yet, but I know its time to buy offshore.

When I first started looking into Panama a few years back I discovered that I could buy property at around $1200-$1500 per meter, this has jumped in the new developments ranging all the way to $4500 a meter. Still a far cry from the $10,000 (and up) a meter I am asked to pay in Sydney.

The Grace Apartments are comparably priced at around $1380 per meter and happily I am able to offer a 5% NNN return guaranteed for the first 3 years of your ownership if you are not quite ready to move.

High demand for rental accommodation in Panama due not only to the older traveler spreading the message to the massive influx of every trade imaginable to assist with the development of Panama City to the widening of the Panama Canal which massively contributes most favorably to the GDP of Panama for years into the future and the continual tourism benefits all assures you of solid returns each and every year. Click above on the menu-bar to discover more about the area, the nightlife, the city itself.

If you want to rent your apartment privately or just use it for your offshore visits, rest assured LB Panama’s  management will be there to take care of any items of administration of your property as you may require.

Click on INVEST PANAMA to follow this thought.

What are the professionals saying?

Sammy Wolcovinsky, a native of Panama owns a real estate company in Panama. Prior to founding the company, his family worked as financial advisors of Charles Schwab in Panama where they managed over 150 millions dollars and in 2006 sold the company.

What other tips do you have for people considering buying real estate in Panama?

“Panama has a lot of advantages, it is a safe country and we operate on the dollar. Since 2005 prices has increased substantially some properties have gone up in value 40-50%. So if you are going to come down and buy real estate either you are going to buy real estate to live or buy and resell. You have to be very careful where you are buying and first you should find a well known broker in Panama. Since Panama is a hot market people are buying properties all over the country and sometimes they buy properties and they pay too much for them. For example in La Avenida Balboa four years ago you could buy a property for 900 USD per square meter now you are going to find properties in Avenida Balboa which is ocean front starting at 3,500 USD per square meter so you have to be aware of where you are buying.”

The Grace Apartments average $1380 per square meter. Less than half of what you may expect to pay very close by, some in walking distance to Grace; here in beautiful Bella Vista.

You can find the complete article here

What we are hearing;

In response to this development we have found that there are a number of investors looking for a way to invest in Panama and get the benefits of Panama ownership without the requirement to purchase a specific property.

We have introduced a fractional ownership opportunity in response to these requests.

To assist we have quarantined the first 3 floors and the penthouse for the seasonal traveler keeping them separate from the resident owners floors and concentrated these 7 valuable properties into a structure valued at $2 million; evenly divided into 20 equal shares of $100,000.

All of the apartments in the pool are fully rented either short or long term and are managed by lbpanama to provide guaranteed returns without the hassle of complete ownership.

Guaranteed at 5% return for the next 3 years for ease of operation the simplicity in accounting and the ability to secure a valuable Panama residency visa with a smaller financial outlay makes this is a spectacular investment opportunity.

Click on INVEST PANAMA to follow this thought..