Welcome to ThinkPanama Lifestyle a Panama weekly blog, About Panama Real Estate Properties & Investments Opportunities, Money, Business News, Health care, Weekend Getaway & Travels in Panama, Entertainment and Living a better Lifestyle in Panama.

Pulse of the Week:

• 3.6% inflation in first 3 months of 2008
• Supermarket Food prices up 15%
• Average Local Mortgage Interest rate: 3.07%
• Avg. Auto loans interests rates: 8.69%
• Unemployment Rate : 6%
• Current Hotel occupancy rate: 80%+
• Gas Prices at the Pump this week: Premium Diesel: $4.08 , Premium: $4.11, $99 to fill up my car this weekend.

Watching your Wallet:

• Panama Business Travel tip:Do not Rent a cell phone. Purchase a cell phone unit, they run between $49.00 -$89 depending on model of your choice. In any of the malls you will find the two main cell phone providers: Movistar and C&W Movil ; buy a 10.00 prepaid calling card, insert the minutes, normally they have promotions for doubled or tripled the minutes. You can run for a week from this Panama cell phone and receive calls from U.S., Canada or anywhere. Anytime you come to Panama you simply re-activate by buying minutes.
• INVEST IN PANAMA Workshop with Experts: On Thursday, June 12, We will be hosting a FREE Invest in Panama Workshop with Roundtable of experts. You will be able to meet with Experts of ALL areas: Legal, Taxes, Offshore Investments, Asset Protection, Real Estate, and get first hand Special Discounts from developers.

http://www.thinkpanama.com/business/articles_business/70/free-invest-in-panama-interactive-workshop

• Special Explore PANAMA Land Package: $999 for TWO , Includes:

4 days / 3 nights, 5 Star Hotel, Breakfast, VIP Airport Arrival: No lines No Hassles, Airport transfers, Transportation in Panama, Investment Workshop, Property Tours, Panama Canal Locks visit & Lunch.

This Week in Panama Business:

• Cost of Electricity-utilities up to $400 per megawatt as of April 2008, Up from $203 per megawatt in April 2007. Higher demand, and cost of diesel among factors.
• Tourism designated as the “Goose with the Golden egg” for 2008: Tourism grew +14.1% in 2007, and +23% growth in income generated from this sector. Canal Expansion, Construction Boom, Financial markets boom, real estate boom, and influx of tourism and foreign investment from Europe, Spain, Russia, and Turkey, fueling sustained growth in 2008.
• Panama is living what is described as a “Golden Age”, Economic growth in 2007 was 11.2%, highest in the region. Experts are projecting 4.5% in the region for 2008, While Panama is projecting 8% growth. In comparison U.S. had 2.2 in 2007, and is projected at +1.9% in 2008.
• Panama Social Security program is evaluating getting into Banks game of offering Mortgage Financing except at higher interests rates of 7 per cent for 30 years . Some Private Banks oppose this move. Is this any indication of how HOT the real estate market is? Sources say they are allocating $50 million for mortgage lending.

The FACTS on New Hotels To Be Built in Panama.

New Hotels To Be Built total: 1,906 rooms in the next 3 years. One of the biggest concerns in the tourism industry in Panama is shortage of hotel rooms in Panama City. The following was shared with Nancy Hanna and Fidel Reyes, a top Bern hotels executive, research of Hotels in - construction for the next three years in Panama scheduled to open by 2010. This is still way below the 20,000 room deficit that the Minister of Tourism Ruben Blades announced. This is the main reason why you will hear me talking a lot about CONDO HOTEL INVESTMENT OPPORTUNITIES in PANAMA. DEMAND is much, much higher than SUPPLY, and it ain’t getting ready anytime soon.

• 134 Rooms The Holiday Inn at Clayton City of Knowledge
  Opening March 27, 2008
• 103 Rooms The Radisson Summit Golf And Resort
  Opening April 2009
• 80 Rooms being added to The Panama Marriott; 376 total, Opening late 2009
• 125 Rooms The Le Meridian Hotel
  Opening June 2009
• 128 New Rooms adding to Courtyard by Marriott; 248 total
  Opening fall 2009
• 800 Rooms Megapolis Condo-Hotel
  Opening late 2009 First phase
• 300 Rooms Renaissance Panama
  Opening late 2010

Outside Panama City:

• 134 Rooms The Bristol Buenaventura
  Opening December, 2008
• 102 Rooms The Radisson Colon 2000 Hotel and Casino
  Opening April 15^th, 2009:
• Total: 1,906 New Rooms in 3 years, not counting the 800 condo-apart-hotel units.

Condo Hotels that you can BUY NOW! And make Great Return on Investment.

THE PLAZA, Costa del Este, A VERY HOT CONDO HOTEL INVESTMENT: http://www.thinkpanama.com/realestate/properties/1/115/p2

This condo hotel The Plaza - has an option where you are guaranteed 10% return on rentals annually for 5 years, that’s $19,000 per year of income. Including during the construction phase. You buy now, at my price: $190,600 ($3,000 below reg. price $193,600), in a few months prices will go up 10%, that means it is going up by $19,360, add my discount = your unit in a few weeks will be selling at $212,960. In weeks you will have already made = $22,360.

This is a very upscale 5 Star ocean view 150 room condo hotel & 44 Exclusive Residences located in a Panama City, in Costa del Este, just 15 minutes from the International airport, 45 minutes to Pacific coast beaches, 20 minutes to Johns Hopkins Punta Pacifica Hospital, and the ultra hip Multi Plaza Mega Mall with the World’s top fashion specialty boutique brand stores like Cartier, Hugo Boss, Fendi, Carolina Herrera, Lacoste, Mont Blanc, supermarket, and restaurants. The Plaza is Residence and Condo Hotel with contemporary design. The development will offer state of the art technology, wireless internet, interactive intelligent lobby with online concierge service, health center, Business center, Infinity pools, waterfalls, International restaurants, sky lounge, and exotic amenities such as a Luxury 100 foot yacht that takes condo owners and guests to the beautiful Pearl Islands Contadora island every day, seven times per week. Famous celebrities like Enrique Iglesias, Justin Pasek (Miss Universe 2003), Salsa super star: Gilberto Santa Rosa, and the lead singer for MANA, one of Latin Americas favorite rock band. One of the features of this condo hotel & residences is the SKY-BEACH at the roof top with view to the Pacific Ocean. The current Pre-Sale price on the 473 sq. ft. Plaza Condo Hotel units is $193,600, For a limited time I can SAVE you $3,000 off that list price to $190, 600.

Real Estate BACKDOOR BARGAIN BUY of this issue:

Not many people are aware that the Panama Government is now offering Closeout Auctions, Available for first time Ever, on Government owned property. This is property they confiscate from Drug Busts, Islands previously owned by Drug Lords, and even the Beach home of Ex Panama Strongman Manuel Noriega is on the Auction Block.

The government of Panamas Ministry of Economy and Finance, MEF, has created a new division: The Real Estate Promotions division. Their goal is to sell off at closeout in Liquidation auctions all government owned property with clearance of Title and deeds.

The law prohibits them from outright selling the property without holding a Public Auction. I spoke to the Director of this new division, Mr. Ricardo Icaza. He has been hired by the Ministry of Economy and Finance as a consultant to set up and run this new division for the State.

Let me know if you have an interest for these properties on auction? dchoy@thinkpanama.com

Panama beaches among the Hottest beaches of Central America according to MSNBC article

http://www.msnbc.msn.com/id/24314955/ “The appeal of Central American beaches is an offbeat and organic sexiness that blends together visitors of varied ages and economic backgrounds”

Mariano Rivera, Panamanian Yankees Pitcher named “DHL Delivery Man of the Year Award”His eight saves in the first month of Baseball season 08, has his effectiveness rate at 0.00%

Make Ca$h by Referring Friends & Family

ThinkPanama.com has launched their Friends & Family Referral Program Make CASH $1,000 - $1,500 for each person that you refer that buys property from ThinkPanama.com, and if a friend that you referred, refers a friend (up to three levels of referrals) that buys, you ALSO make up to $1,000,

Call + 507.260.4000, U.S. (407) 641-5747, register: info@ThinkPanama.com

• What would you like to know about Investing in Panama? Ask and I will answer.

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