The video also includes Google Earth and Map images. This should give you a good context on the lot's location.
There is a link below the video if you want more information about the property. And, of course, we are always happy to answer your questions by phone or email.
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Go here to browse all our Puerto Armuelles real estate
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This property is in a great location.
It is only a 1 minute stroll from our favorite beach in Puerto Armuelles, Panama & a 10 minute drive from the town center.
It is a popular area in the Corazon de Jesus neighborhood. In fact, already half the lots on this block are owned by expats.
And it is a pretty large lot measuring 7233 sq. feet (672 sq. meters). So you could easily build a bigger house on it.
Watch the video and click the link below for more information
Click here for more info on this Panama property
If you have questions, we would be happy to answer them.
Just give us a call, shoot us an email, or leave a comment below.
Thanks for watching
It set back and removed from the main road. Yet it is still close to neighbors.
And best of all, it is only 70 feet from the beach.
Check it out.
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To find out more about this property for sale click here.
You could build whatever you like here. It is level and fully accessible. As the video suggests, you could build 2-3 homes or a hotel. You could also keep the whole thing to yourself.
The property is in the Corazon de Jesus neighborhood of Puerto Armuelles. It is a friendly community right on the beach.
It is an area popular with expats. All the beachfront in the neighborhood has already been bought up by expats.
You can browse more property for sale in Puerto Armuelles here.
Puerto Armuelles is an increasing popular place for both expat retirees and investors. This is due, in part, to the near completion of the new 4 lane highway linking Puerto Armuelles to the Panama's InterAmericana main highway. The improved access has allowed many more people to discover the many charms of this wonderful beach town.
You will be more successful, if you know your goals before you begin
Once you are clear about your investment goals, not only does the whole process get easier, but you are much more likely to achieve your goals.
Which of these goals is yours?
1. Buying for Capital Gain
In the world of emerging markets, intrepid investors seek out not-yet-discovered locations. The idea is to buy in a location BEFORE it is discovered by too many other foreigners.
These investors buy in those emerging locations and wait. They simply wait until the market arrives and prices start rising due to increased demand. Of course, finding these locations is the key. The purchase may be in a remote area. But that is only a good idea if there are clear indications that infrastructure improvements will follow. If such investors are buying within a development, they tend to purchase early in the roll-out of the master-plan, and look to secure ‘founder’ or ‘charter membership’ deals as a result.
These capital growth investors will sell the property when their target resale price is easily achieved. Of course, the next buyer can also still make significant capital gains, but typically less than the pioneers in these not-yet-discovered areas can achieve.
2. Buying for Personal Use
This is usually someone looking for a vacation home. This investor wants a place to recuperate from their daily life. Usually they are looking to buy property in places that enjoy a good climate, access to amenities and where the lifestyle is very different from their life at 'home'.
Sometimes this investor also wants to rent out the property when they aren't using it. However, while they like the idea of a rental covering some of the costs, rental income is not their top priority. This investor type tends to be affluent and own more than one home, often in a different part of the world. Their overseas property(s) may be part of their larger investment plan.
However, if the location is still affordable, people without this kind of wealth can also enjoy 'a second home in the tropics lifestyle'.
3. Buying for Rental Income
These investors are looking to create a cash flow stream through rental income. Vacation rentals usually provide a much greater rental income than other types of rentals.
This investor seeks out locations that attract a sufficient number of potential renters, such as foreign vacationers, travelers, and retirees. Of course, this investor needs to buy property where the return on investment (ROI) pencils out.
Sometimes, people who are retiring overseas, will also invest in a rental property in order to supplement their retirement income. Or they will rent out their property until they are able to retire there full-time.
4. Buying for Retirement Overseas
Investors in this category are typically 5-6 years from retirement. They are looking for property that will provide them their ideal retirement lifestyle - and one they can afford. This means these retirees must be clear on both their retirement budget and their retirement lifestyle goals. Then they can be sure that the property purchase will meet both.
Oversea retirees usually also look for locations that have easy access to health facilities and shopping centers as well as areas that are safe and have low crime.
And like everyone, they also want to buy a property that will appreciate in value.
5. Buying to Transform Your Life Abroad
These are lifestyle investors. They want to start a new life abroad and enjoy a different lifestyle. Some may be downshifting, while others will be embarking on new adventure abroad. Some of these investors need to keep earning money. Some can retire early, especially if they retire some place with a much lower cost of living.
This investor type is a pretty diverse group. A segment of this type of investor might also like to purchase income generating properties such as a B&B, hotels or rentals.
Without a clear understanding of the kind of property that best meets your investment goals, you are in danger of buying the wrong property, but thinking it is the right one.
It could be that you fit into more than one investor type. That is fine. But then you must be clear why you are buying a specific piece of real estate. Which investor hat are you wearing for that particular property?Only then can you adequately evaluate where the purchase will achieve your goal.
Which type of property investor are you?
There is real estate in Puerto Armuelles to meet each of these investors types.
You can start browsing some of the property for sale in Puerto Armuelles.
Before investing in property anywhere, you should read Reyn's article
Know Thy Self - What To Do Before Buying Property In Panama.
"When are going to put your Corazon de Oro properties on the market?"
The answer is very soon. In a matter of a few months.
Currently we are building an entry way to the property.
To give you a preview, I put together a short video on one of the beachfront lots.
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Walking out there, I am reminded just how beautiful a spot it is in.
I'll let you know when you can actually buy one. It will be fairly soon.
We are currently building an entry gate.
Find out more about these 19 lots, 9 of which are beach front, here.
One of the things that makes this property so special is that it's on a ravine so it has an abundance of trees and tropical birds.
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Also, it is only 90 feet from our favorite beach.
The house is in the popular Corazon de Jesus neighborhood of Puerto Armuelles. A neighborhood that is only a 10 minute drive from downtown Puerto Armuelles.
The other day I took these photos (below) of and by this house for sale.
This link has more photos and details about this beach house for sale in Puerto Armuelles Panama
Updated: 2/7/17
And it includes more than properties for sale.
Also, keep in mind, that not all of our properties are listed on-line or in this ebook of our properties.
We save some in reserve for those that make the journey to Puerto Armuelles to see our properties.
Download the listing book here.
Click to explore properties online.
1) Property for Sale in Puerto Armuelles area
2) Info About Puerto Armuelles
3) Places to eat dinner in Puerto Armuelles
4) Link to answers to many FAQs about Panama
5) Information about us at Living in Panama
President Martinelli gave serious weight to his “soon” timetable, declaring that he and his close associate David Ochi, who will head the project, are giving themselves a deadline of 700 days in which to complete the new highway.
Of course, deadlines of public projects in Panama are proposed so that they can be broken. Still, with $114 million in government funding budgeted for the highway, it seems clear that there is some serious money to be made on the project. Both the President, as well as David Ochi, are well known to be highly motivated by money.
Given that workers on the road expansion are already actively looking for places to rent in Puerto Armuelles, it seems that Martinelli's speech was not just talk. The road expansion really does seem like it will happen "soon", even in the North American sense of that word.
As a sidebar to this story, for sometime there has been talk of President Martinelli’s friend Mr. Ochi quietly taking over the leases on many hectares of the former Chiquita Banana plantation around Puerto Armuelles. With the defunct banana workers’ syndicate, Coosemupar, safely out of the way, it was just a matter of time before a major Panamanian player found a way to wiggle into a position of control of the Banana Plantations.
What does this mean for Puerto Armuelles? Plenty.
After the departure of Chiquita Banana from Puerto, several international fruit companies, including Dole, Del Monte, and even Chiquita, have expressed interest in taking over the production and distribution of bananas from Puerto Armuelles. However, each interested party has been either given the cold shoulder by politicians, or actively scared off by threats of more labor union action.
The real problem was that there was no major Panamanian investor who stood to benefit from the renewal of Banana production in Puerto Armuelles.
Now that David Ochi, and most likely, President Martinelli himself, stand to make millions of dollars from the sale or lease of the banana plantations, as well as making tens of millions of dollars on the construction of the new Puerto Armuelles/Paso Canoas highway, the project is a “definite”.
Better still, if the president and his associate David Ochi want to get funding under his own administration, then they will have to get started right away.
Meanwhile, gringo retirees continue to trickle into Puerto Armuelles, at an increasing rate every year. It’s not a flood yet, but it seems clear that the Ex-pats are in Puerto Armuelles to stay. The new highway is sure to draw more attention to Puerto Armuelles from retirees, as well as foreign investors.
This impacts Panama property within 10K of both Costa Rica and Columbia.
(FYI - 10 kilometers is the same as 6.2 miles.)
The same restriction used to apply to all island property, but in 2006 that restriction was eliminated. So unless the island is less than 10K from Costa Rica or Columbia, a foreigner can buy land on an island, or the whole island, in Panama.
It seems like a very clear cut rule, but it isn't.
The rule says that a foreigner cannot own property within 10 kilometers of a border Panama shares with another country. The 10 kilometers is measured from a proposed property to the closest point on the border from that property.
However, many foreigners have purchased land within 10 kilometers of Panama's borders, especially the Costa Rica border.
Technically, the buyer of rights of possession (ROP) property is not the true property owner. The true owner is the Panama government because the government holds the title. (This also means that ROP land is also exempt from property taxes. Find out more about Panama property taxes and exemptions here. ) Therefore, it is perfectly legal for foreigners to buy ROP property in Panama less than 10 kilometers from Costa Rica or Columbia.
Such corporations designed to keep the owners of the property hidden. A Panamanian, often a lawyer, is the face of the corporation. The true owner(s) are kept anonymous.
Technically, even corporations cannot buy property inside the 10 kilometer line if a foreigner is part of the corporation, or if foreign money is used to buy the property. But given the nature of anonymous corporations in Panama, it is very hard to verify whether a foreigner is part of it or not.
At one time, it seemed that the existence of anonymous corporations in Panama were numbered. But each time the proposal was raised, it was also ultimately squashed. There are too many people in power who benefit from the opaque nature of these corporations. These days, it seems unlikely that anonymous corporations will be banned in the foreseeable future.
(Read how Panama proposed banning corporate anonymity and then a subsequent post on Panama suspends the proposal to ban anonymous corporations.
While we are on the subject, you may want to read about the dangers of buying property from an anonymous corporation in Panama.)
For instance, we own titled land, in our own names, in Panama within 10 kilometers of Costa Rica. Our property is recorded in the public registry of property. No one batted an eye. We know many people who have done the same. It is technically risky. However, it seems extremely unlikely that the government would claim the property from us.
However, everyone's risk tolerance is different. To be as safe as possible, you should buy at least 10 kilometers away from the border.
The 10 kilometer property rule is the only restriction on foreign ownership of property in Panama.
Panamanian law is very friendly to foreign investment in real estate.
If you want to buy land outside the 10K line in Puerto Armuelles, you need to buy land north of the San Bartolo bridge. This bridge is on the main road into Puerto Armuelles and goes over the San Barolo river.
This means Puerto Armuelles is situated such that it has some of it lands are more than 10K from the border with Costa Rica, and some are less than 10 kilometers from the border.
There is a surveyor's map below which gives distance from the border of various points in Puerto Armuelles. A good rule of thumb, as I say above, is whether a point is north of the San Bartolo bridge or not. If a property is north of the San Bartolo bridge than you are almost always more than 10 kilometers from the border of Costa Rica, per the 10k rule.
For instance, these Puerto Armuelles neighborhoods are more than 10 kilometers from the border with Costa Rica. There are more neighborhood outside the 10k line, but the ones below are the primary ones.
Here is the map of the Puerto Armuelles area with distances from border as done by a certified surveyor.
