I made my first property investment in Panama in 2003.
To be fair, it was a joint buy and Lief’s idea.
Four years earlier, on his first trip to Panama, Lief met the owner of the country’s biggest development company. Herman Bern took Lief to see the stretch of Pacific coastline he intended to develop just outside Panama City.
Today that way-back-then deserted white-sand beach is home to Empresas Bern’s flagship beachfront property known as Playa Bonita. It includes a residential tower, two resort hotels, and all the trappings to support what has grown up to become a premier coastal destination…
After Herman Bern introduced Lief to the beach that would become Playa Bonita, he introduced Lief to his son, Jose.
Young, smart, and as ambitious as his dad, Jose had a question.
“What do you think would sell best to an American buyer?” Jose wanted to know.
“Tell me what your fellow Americans would be most motivated to buy here in Panama City,” Jose told Lief, “and I’ll build it.”
Lief and Jose worked together to design a city-center tower of one-bedroom condos with views of the ocean and the forever line of ships waiting their turn to passage through the Panama Canal.
In the process, Lief got a behind-the-scenes look at the vision being conceived in real time by those working to reshape Panama post the Canal handover.
“Panama City is shaping up to be the greatest investment opportunity of our lifetime,” Lief told me. “And we have a chance to get in first.”
We wanted our readers to get in, too, of course. We told them about the Bayfront condo units—ideal, we pointed out, for both personal use and rental.
More than 100 readers invested… along with Lief and me.
In the 25 years since, the one-bedroom loft Bayfront apartment we purchased has been a short- and a long-term rental, earning us as much as 20% net per year. Today it’s our home base as we come and go from Panama City. Encouraged by the success of Bayfront, Jose came back to Lief a year later.
“What next?” he wanted to know.
We worked with Empresas Bern to develop a sister tower to Bayfront, Grand Bay… also city-center and also with a view of the Pacific. It, too, sold out, again mostly to our readers, in short order.
Next came more ocean-view city-center towers… before Jose suggested some diversification might be in order.
We worked with Empresas Bern to launch oceanfront condos at Coronado and the City Beaches… followed by further diversification into the purpose-built village known as Costa del Este. Here Bern attracted the biggest players in Panama, businesses like Nike and Estee Lauder, who rent condos by the hundreds as housing for their executives in residence.
Fast forward 25 years, and Jose has become a close friend. Along with developing property, he and we share lots of interests… including target practice. We make time as often as we can to join Jose at Panama City’s Balboa Gun Club…
We may have been slightly skeptical of Herman Bern’s very big idea for developing the stretch of coast he’d targeted outside Panama City so many years ago, but we soon learned our lesson.
When the Berns say they’re going to do something, Lief and I lean in to pay attention. We have no doubt they’ll deliver.
Panama City’s property markets have moved steadily up over the past two-and-a-half decades we’ve been investing here.
Now this city is poised for a next boom.
Empresas Bern, of course, is leading the charge.
Jose came to us a few months ago to alert us to what he has identified as the next big opportunity in Panama’s capital.
It’s a rare chance to get on Panama City’s short-term rental market at a bargain price tag… in a location poised for exceptional upside.
This newest Panama City undertaking from Empresas Bern sits in a zone targeted for re-development. The Panama government is investing $44 million to support the effort.
This neighborhood is already known for its vibrant nightlife, top restaurants, hotels, and shops. Now it’s getting a big upgrade to include new luxury high-rise developments… like the offering from Empresas Bern.
The location is excellent, near the banking district and the Cinta Costera, the coastal recreational area that runs along the Panama Bay.
Mark my words. This will soon be one of the most in-demand locales for property buyers and renters in this city…
The condos Jose Bern is building here will command high rental rates, thanks to luxury amenities, including a rooftop pool looking out over the city, a sun deck, a spa, a bar, a gym, and retail space, all on-site.
Renting will be 100% turnkey.
Plus, as part of our exclusive deal with the Bern group, the apartments purchased by Live And Invest Overseas readers will come with high-end finishes and completely furnished.
Here’s the kicker…
Only a limited number of properties in all Panama City have a license allowing for short-term rentals.
This new project from Empresas Bern is one of them.
Interested to know more?
I am.
That’s why I encourage you to register for this week’s 100% free How To Profit In Panama’s Second Boom—$195k Property Webinar taking place Wednesday, April 8, at 6 p.m. Eastern Time.
Lief will be hosting the conversation. I’ll be listening in. Hope to connect with you there.
Until next time,
Kathleen Peddicord
Founding Publisher, Live And Invest Overseas
