First Luxury Wellness Retirement Choice In Latin America
March 6, 2009
Panama City, Panama
PLUS:
- "I Notice You Didn't Say Anything About The Crime In Panama"...
AND:
- One Reader's Small Business Idea...
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Dear Overseas Opportunity Letter Reader,
This may be the best option for overseas retirement living I've
ever seen.
And it comes with something else you should be in the market for right
now: a guaranteed yield from rental income.
First, some background:
FONATUR, the Mexican tourism development agency, knows what it's
doing. For about three-and-a-half decades, it has been targeting
particular stretches of Mexico's
coasts, investing big in infrastructure and services to those regions,
and then sitting back and watching as the investors and then the
travelers descend.
The advantage for the investor and the property owner is that the
private developer's efforts are supported by the Mexican government.
Buy what you see, I remind you often. And, when FONATUR gets involved
in developing a region, you typically see fast and reliable progress
on things like the paving of roads and the running of electrical
lines.
Early this decade, FONATUR targeted, for a next project, the country's
Pacific coast from Puerto Vallarta 100 miles north to colonial San
Blas, a region they dubbed the Riviera Nayarit.
This stretch of coastline is primo. If you like blue sea, white sand,
and regular sunshine, really, you can't ask for better. Plus, there
are golf courses, archeological sites, spas, every water sport you
could name (including swimming with dolphins and whales), colonial
cities, Aztec history, deep-sea fishing, five-star restaurants, wine
and cheese shops, trendy cafes, art galleries... The region's
transformation is well along.
This part of Mexico is safe, stable, and easily accessed from anywhere
in the United States, Canada, even Europe. There are world-class
hospitals and top-quality private bilingual schools.
There's also a proven rental market. Nuevo Vallarta hotels regularly
see 85% occupancy, and the demand for condo rentals in the region
increased 300% from 2007 to 2008.
This is a location that checks all the right boxes: Beautiful beaches;
great weather year-round; safe; affordable cost of living; easily
accessible; 21st-century infrastructure (not only for roads and
highways, but for Internet, telecommunications, etc., as well); lots
to do; established and expanding expatriate community; top-notch
medical care; and, again, a track record for rentals.
It's easy to understand why so many expats, from North America and
beyond, have sought out this part of Mexico for both part- and
full-time escape.
But I predict that the best of Nayarit is just now coming online...in
the form of Taheima, the first luxury wellness
condo-hotel in Latin America. This is a development product whose time
has arrived. And right now is your chance to buy pre-construction, for
what amounts to the lowest per-square-meter cost in the region, while
locking in (if you choose) two years of guaranteed rental yields of 7%
per year. (You get free maintenance of your property during these two
years, too.)
There are lots of private development communities throughout Mexico,
offering golf, spas, fishing, etc. Taheima is different. It has been
conceived as an alternative for the "new retiree"...the Baby Boomer
who is looking for options outside the States and who is gearing up,
during this phase of his life, for anything but retreating to the
sidelines.
Taheima is for the would-be retiree who wants to be active and
engaged, both physically and intellectually. The focus is on education
and wellness, of body and of mind. All the usual conveniences and
amenities are included. This is a condo-hotel, remember, so you get
not only private development services, but hotel services, as well,
including housekeeping, concierge, valet parking, bellboy, room
service...
There's a golf course (18 holes designed by Robert Von Hagge; owners
have full access and get 50% off greens fees), a country club (you
have full access here, too), a beach club, a racquet and sports
center, four swimming pools, juice bars, and restaurants.
Plus (and here's where things get different), there are also daily
classes in yoga, painting, dancing, languages, sculpting,
cooking...and wellness and nutrition classes and clinics with
professional trainers.
Taheima is the project of Canadian development group Dynamis, with a
long track record building residential and retirement communities in
Canada, including senior-focused apartments. As they put it, they
build for retirees who are not content with "sitting on the beach."
Taheima is also a member of the WorldHotels group, which means that,
as an owner, you have the opportunity to exchange your Taheima home
for a stay in another luxury home in the WorldHotels network, which
includes more than 155 properties in six countries. You can even
arrange an exchange as much as 12 months in advance of taking
possession of your Taheima property.
Specifically, at Taheima, you can choose from a junior suite, a
one-bedroom apartment, a two-bedroom residence, or a three-bedroom
penthouse. Every unit comes fully furnished and with full rental and
property management services in place. You'd never have to touch up
the paint or change a light bulb, if you didn't want to.
You can finance your purchase (up to 70% loan to value). This isn't a
time-share. This is full titled ownership of a condominium in the most
impressive overseas retirement community I've ever seen.
Full titled ownership of a condo that could pay for itself, over time,
through rental income. To start, you can guarantee yourself two years
of rental yields of 7% a year.
This makes sense from so many angles. This is an interesting
investment opportunity of the kind that I believe you should be
focused on in the current climate (it's yield-producing in a proven
market).
It's an ideal second home in the sun if you're looking for part-time
escape to the beach. Riviera Nayarit beaches are among the world's
best. (Remember Night of the Iguana?)
And if you're not, you could rent to someone else who is. I say again:
Taheima qualifies as a top option for the 70-million Baby Boomers set
to retire over the next 10 years.
Your ownership comes with the international home-exchange option
through WorldHotels. You could swap your place for a stay in another
great place in another exotic location each year if you wanted.
Plus,Taheima caters to the fast-growing wellness market, augmenting
the rental potential.
Finally, and perhaps most important, Taheima could be the ideal place
for you to think about basing your new life in retirement overseas.
The property comes with everything the would-be retiree could ever ask
for.
Buy today and rent until you're ready to take up residence yourself.
Prices start at US$169,000.
Find out more here.
Kathleen Peddicord
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"Kathleen, I bought your book the other day on
Panama. I am a 42-year-old gal who has raised her kiddos.
I am single and have been successful as a home-builder here in the
States. I'm now doing home staging in a ski resort in
Colorado.
"I am coming to Panama for a month in June to check it out. I was
wondering if you know if there are any home stagers in Panama? Trying
to figure out a job to do there.
"Thanks for your book, as it was very informative."
-- Holly B., United States
I don't know any. Certainly, home staging isn't a competitive industry
here. I'd say you might make a go of it, though, as the sales climate
in Panama City (where you'd find your market) has cooled considerably
in recent months. Owners just might be willing to invest in a little
professional counsel to help them make their two-bedroom tower condo
stand out from all the other two-bedroom tower condos also on the
market right now.
"Nice spin on answering the
concerns regarding Panama. Having been there now,
I'd say the reader made some excellent points. And I noticed you
didn't mention anything regarding the crime. This
from one who's seen it first-hand, if you know what I mean."
-- Hank B., United States
No place is 100% crime-free.
That said, in all my years of moving around the world, I've had
trouble in two places--Baltimore City, Maryland, in the States, where
I spent the first 34 years of my life (and where I was mugged twice,
my family's home was broken into and robbed twice, and people were
shot and killed on the street by the rate of one per day, on
average)...and Limon, Costa Rica (where my rental car was broken into
and my backpack stolen).
Is Panama unsafe? I don't think so. Is there crime in Panama City?
Yes, of course. It's a fast-developing city with some very poor
barrios. Best thing is to avoid them.
We wandered into one the other day without realizing it. We were
strolling around Casco Viejo, took a turn we'd never taken before,
and, suddenly found ourselves in a neighborhood where we probably
shouldn't have been.
We walked to the nearest street corner to try to hail a taxi, figuring
that a quick escape by cab would be the smart move, as we had young
Jackson in tow.
As we stood on the corner, a Panamanian woman walked by. She continued
for half-a-block, then doubled back.
"What are you doing here?" she asked me in Spanish.
"You shouldn't be here. Keep your son with you. And hold on to your
purse.
"Are you trying to get a taxi?" she continued.
"Yes," I replied.
She walked out into the street to help wave one over. When one pulled
up, she leaned in the front window to speak to the driver, urging him
not to dawdle, I guess.
Friends were mugged in Casco Viejo last summer, and I've heard of
other, similar incidents.
Yet I've never felt unsafe here. I'm careful. I pay attention to my
surroundings. When I end up somewhere I think I shouldn't be, like the
other afternoon, I move on quickly.
Bottom line, I feel much more comfortable walking the streets of
Panama City, alone or with Jackson, than I do walking around downtown
Baltimore City when I'm home for visits.
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