Special Opportunities in Real Estate
In Panama, real estate developers do the same thing in the same area over and over and over and over again, until finally the market is over-built and, after bidding up the price of land to astronomical heights, over-priced. Opening new areas of the nation where land was once much less expensive typically has been left to expatriate developers. Developments in Bocas del Toro, Boquete, and Pedasí offer examples. Opening up new areas is the road to the big profits, not just to developers and promoters, but to the nation and its people as well.
Panama Wave is not simply interested in real estate. We also have longer-term interests in other sectors. However, we do take note of any real estate that has exceptional potential for commercial development and a very high return on investment.
Lake Bayano – Aguas Mansas
Although Panama Wave S.A. is not a real estate agency and has no intentions of becoming one, we have made a one-time exception for a very special property. For a decade, Panama Wave has researched and been otherwise active in an area to the east of Panama City. As a result of that background and the connections we have made, the Panamanian owners approached us and asked us to represent them on an exclusive basis. Knowing the property and its surroundings well, we immediately agreed.
The “gem” of Panama, Lake Bayano, has been ignored, but that is now changing and its potential becoming clear to those who take the time to understand the area and “do the numbers”. A decade ago, very few people had even visited the lake, despite its proximity to Panama City. A lack of development and poor road infrastructure did not help, so despite its 350 square kilometers (135 square miles). the lake was largely unknown.
Today, the infrastructure has greatly improved and is being expanded. Travel to the Lake has become a comfortable journey and a short one. The opening of the Bayano Caves to tourists has introduced the lake to several thousand Panamanians and expatriates.
Lake Bayano is at its “tipping point”, but there is one problem for an investor. Only one property has access to a paved road and other amenities, substantial waterfront (2 miles or 3.2 kilometers), and is truly beautiful. We represent that property.
Take a moment to read the details.
A smaller lot at Lake Bayano
This waterfront property at Lake Bayano has just been put on the market by its owner. It is very near to the larger Lake property shown above and has the same access to a paved road and utilities. Not shown well by the photos, it also has easy access to the water. It is large enough for a buyer to sub-divide, if he or she so chooses.
The land was cleared in the past for livestock, but retains its rural beauty without requiring further clearing and already received approval for sale to the current owner by the government’s environmental agency.
A smaller lot at the Lake with the same benefits as the larger property is very, very rarely available, if at all. The property is 19,432 square meters in size (4.8 acres). The asking price is $87,439 or $4.50 a square meter. The land has been improved with a “tosca” driveway, culverts, and a building lot prepared. You will not find a site like this on the Lake that also has access to a paved road. One of its neighbors is the large property mentioned above on this page.
We are not agents for this property, but we are very familiar with the lot and its potential. The owner has a website with details available. See for yourself.