Learn more about Panama and Real Estate in Panama on www.LatinRe.tv .
Panama City, April 02: Panama's top coffee producer said it believes it has set a new record for the world's biggest cup of coffee, after brewing 750 gallons (2,840 liters) in a giant mug on Sunday.
Producer Cafe Duran used 300 pounds (136 kgs) of arabica coffee to brew a cup measuring 3 yards by 1.6 yards over four hours.
"We are really thrilled with this, Panama has done it!" Ricardo Duran, director-owner of the company, said to loud applause, fireworks and live tropical music.
The company will submit its record-breaking attempt to officials at Guinness World Records this month. The previous Guinness record was held by the United States for brewing 660 gallons (2,500 liters) in New York in 1994.
The initiative aims to draw attention to Panama's small but growing gourmet, estate-grown coffee industry, organisers said.
"And the coffee's actually damn tasty," said Irma Castillo, a Panama City resident sipping the hot drink as it was given away after the record attempt.
Bureau Report - www.zeenews.com
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Wednesday, April 4, 2007
Tuesday, March 27, 2007
Celebrities in Panama
Learn more about Panama Real Estate on Latin America Real Estate TV!
What do Brad Pitt, Angelina Jolie, Mel Gibson and Miguel Bose have in common? All have recently paid a visit to Panama, and though their reasons were diverse, all have shown interest in Panama real estate.
In January, Brad Pitt and wife Angelina Jolie visited Panama to see the construction site and scale model of the building to be inaugurated in 2008 as the Biodiversity Museum, designed by Frank O. Ghery. The Pitts enjoyed lunch and studied the scale model for over an hour,
appreciating the different views the building will soon have. Brad and Angelina also explored the Casco Viejo, wandering among the spectacular colonial buildings, and then set off to spend the night in the Anton Valley, located in the country’s interior about a two hour drive from Panama City. The national press speculated that Pitt and Jolie considered investing in Panama real estate while touring the country.In March, Mel Gibson visited Panama, presumably to scout locations for production of his next film. During his five days in Panama, he explored various hotel properties, including Gamboa, Villa Camilla in Azueros, Bocas del Toro, Darien and Playa Bonita, each beach locations or in close proximity to the ocean. It has been rumored that Mel Gibson had a meeting with a real estate agent in Panama, though we cannot say for sure what transpired. 
Miguel Bose, the Panamanian born Spanish singer, recently visited and bought a condominium in a luxurious building located in the interior of Panama. The condominium is on the beach and possesses a spectacular ocean view. However, we are not sure if he bought the condo as an investment or for personal use.
Without a doubt, the first months of the year have been interesting for Panama. Though the country is small, in a couple of years it may be more likely to spot a celebrity here than on the streets of Hollywood.
Learn more about Panama Real Estate on Latin America Real Estate TV!
Miguel Bose, the Panamanian born Spanish singer, recently visited and bought a condominium in a luxurious building located in the interior of Panama. The condominium is on the beach and possesses a spectacular ocean view. However, we are not sure if he bought the condo as an investment or for personal use.
Without a doubt, the first months of the year have been interesting for Panama. Though the country is small, in a couple of years it may be more likely to spot a celebrity here than on the streets of Hollywood.
Learn more about Panama Real Estate on Latin America Real Estate TV!
Monday, March 19, 2007
Taxis in Panama City
Watch Internet TV about Panama, Retirement in Panama, and Panama Real Estate on Latin America Real Estate TV!
Riding a taxi in Panama City can provoke just as many emotions as a free fall roller coaster ride, but at only a dollar a pop. Similar to the roller coaster, you can expect to jerk from left to right, feel your stomach drop, tense your muscles and squeal with excitement and/or fear in a Panama City cab. Like most taxis, especially in third world countries, the ride can make you fear for your life. But, there are some unique characteristics about a Panama City taxi ride that make each one out of the ordinary.
Exterior and Interior of Taxi
Though rumor has it that all taxis will eventually be yellow (like New York City), it is still possible to observe the vast array of shapes, styles and sizes managing the streets of Panama City. Some are new and air conditioned, while others look as though they are from circa 1970 and have survived a serious fire and numerous robberies.
The exterior of taxis have a substantially higher amount of dents and dings than other cars in Panama City. Taxis drivers have one objective when working, to get the passenger to their destination so that they can pick up another passenger, thus increasing their cash flow. Therefore, taxi drivers do not seem to have the same reservations about making incredibly risky moves, and consequently getting in more accidents. The speed in Panama City is never so fast that there is any serious damage, but the remnants of these failed attempts are blatantly obvious. And, once the initial damage has been incurred, what’s another dent?!
The interiors of taxis can bring a smile to almost anyone’s face. The interior decoration of Panama City taxis almost always includes a flag or football (not the American kind) dangling from the rear view mirror, or the space where a rear view mirror should be, just obstructing the line of vision enough to make things interesting. In the United States and other like countries, our idea of what a car needs in order to function is relatively superfluous compared to Panama. I mean, is an interior really necessary for driving? Absolutely not!
Array of Honks
Many people complain about the noise population on the streets of Panama City. However, if we listen carefully, it is more like an urban symphony. Some honks are the typical “beep beep,” while others are analogous to the whoops and whistles of men trying desperately to get the attention of a pretty girl, or the whistle you teach your Cockatiel Pretty Bird. Either way, it is obvious that taxi drivers go to a lot of trouble to personalize their horns and feel a certain sense of pride, given they exercise the right to honk at every available chance.
Conversations with Drivers
One of my favorite pastimes in Panama, and in any foreign environment, is chatting with the locals. It is undeniable that one of the best ways to become acquainted with a culture is by interacting with the natives, in their mother tongue. In Panama, taxi drivers provide an interesting and entertaining interpretation of life in the city. My conversations with them generally start off, “Are you Swiss? You look like the girl from the hot chocolate!” Then, after clarifying that I am not from 19th century Switzerland, we embark upon an undoubtedly colorful conversion, sure to be the subject of dinnertime conversion (if appropriate).
A particularly exciting day was when I took a taxi driver on a goose chase with me to fix my car battery. As is a normal daily occurrence in Panama City, a passenger was already in the cab when I was picked up. So, I hopped in the front seat and we were on our way. This particular passenger, a woman about 60 years old, was undoubtedly a foreigner, most likely American, Canadian or European. Shortly after I got on board, we arrived at her destination. She handed the driver seventy five cents, and all fares in Panama City are at least one dollar. The driver said in heavily accented English, “One dolla’!” I turned around and translated, “One dollar.” She spat back, like him, in heavily accented English, “He took me around the entire city!” Apparently, she felt as though the driver had taken her on a while goose chase with the hopes of pulling a fast one. After listening to her short, heated explanation, she leaped out of the taxi and soon disappeared from our sight. So, the driver gave up and we left for my destination. On the way, he muttered to himself about the “whats and whys” of the recent situation. After five minutes of being stuck in traffic and the driver leaning over me to throw his eaten meal out the window into a garbage can, our rapport had obviously gone through the roof, and he began to inquire about why my “paisana” (countrywoman) did such an awful thing. “Doesn’t she know I have to eat?!” So, I explained to him that, although she wasn’t my “paisana,” foreigners generally implement the taxi protocol born from the etiquette of their mother land. Another day, another dollar for him, and a mini lecture about the cultural differences between one country and another.
It is never a dull day in a Panama City taxi.
Riding a taxi in Panama City can provoke just as many emotions as a free fall roller coaster ride, but at only a dollar a pop. Similar to the roller coaster, you can expect to jerk from left to right, feel your stomach drop, tense your muscles and squeal with excitement and/or fear in a Panama City cab. Like most taxis, especially in third world countries, the ride can make you fear for your life. But, there are some unique characteristics about a Panama City taxi ride that make each one out of the ordinary.
Exterior and Interior of Taxi
Though rumor has it that all taxis will eventually be yellow (like New York City), it is still possible to observe the vast array of shapes, styles and sizes managing the streets of Panama City. Some are new and air conditioned, while others look as though they are from circa 1970 and have survived a serious fire and numerous robberies.
The exterior of taxis have a substantially higher amount of dents and dings than other cars in Panama City. Taxis drivers have one objective when working, to get the passenger to their destination so that they can pick up another passenger, thus increasing their cash flow. Therefore, taxi drivers do not seem to have the same reservations about making incredibly risky moves, and consequently getting in more accidents. The speed in Panama City is never so fast that there is any serious damage, but the remnants of these failed attempts are blatantly obvious. And, once the initial damage has been incurred, what’s another dent?!
The interiors of taxis can bring a smile to almost anyone’s face. The interior decoration of Panama City taxis almost always includes a flag or football (not the American kind) dangling from the rear view mirror, or the space where a rear view mirror should be, just obstructing the line of vision enough to make things interesting. In the United States and other like countries, our idea of what a car needs in order to function is relatively superfluous compared to Panama. I mean, is an interior really necessary for driving? Absolutely not!
Array of Honks
Many people complain about the noise population on the streets of Panama City. However, if we listen carefully, it is more like an urban symphony. Some honks are the typical “beep beep,” while others are analogous to the whoops and whistles of men trying desperately to get the attention of a pretty girl, or the whistle you teach your Cockatiel Pretty Bird. Either way, it is obvious that taxi drivers go to a lot of trouble to personalize their horns and feel a certain sense of pride, given they exercise the right to honk at every available chance.
Conversations with Drivers
One of my favorite pastimes in Panama, and in any foreign environment, is chatting with the locals. It is undeniable that one of the best ways to become acquainted with a culture is by interacting with the natives, in their mother tongue. In Panama, taxi drivers provide an interesting and entertaining interpretation of life in the city. My conversations with them generally start off, “Are you Swiss? You look like the girl from the hot chocolate!” Then, after clarifying that I am not from 19th century Switzerland, we embark upon an undoubtedly colorful conversion, sure to be the subject of dinnertime conversion (if appropriate).
A particularly exciting day was when I took a taxi driver on a goose chase with me to fix my car battery. As is a normal daily occurrence in Panama City, a passenger was already in the cab when I was picked up. So, I hopped in the front seat and we were on our way. This particular passenger, a woman about 60 years old, was undoubtedly a foreigner, most likely American, Canadian or European. Shortly after I got on board, we arrived at her destination. She handed the driver seventy five cents, and all fares in Panama City are at least one dollar. The driver said in heavily accented English, “One dolla’!” I turned around and translated, “One dollar.” She spat back, like him, in heavily accented English, “He took me around the entire city!” Apparently, she felt as though the driver had taken her on a while goose chase with the hopes of pulling a fast one. After listening to her short, heated explanation, she leaped out of the taxi and soon disappeared from our sight. So, the driver gave up and we left for my destination. On the way, he muttered to himself about the “whats and whys” of the recent situation. After five minutes of being stuck in traffic and the driver leaning over me to throw his eaten meal out the window into a garbage can, our rapport had obviously gone through the roof, and he began to inquire about why my “paisana” (countrywoman) did such an awful thing. “Doesn’t she know I have to eat?!” So, I explained to him that, although she wasn’t my “paisana,” foreigners generally implement the taxi protocol born from the etiquette of their mother land. Another day, another dollar for him, and a mini lecture about the cultural differences between one country and another.
It is never a dull day in a Panama City taxi.
Wednesday, February 28, 2007
13 Not-So-Conventional Reasons to Love Panama
By Mona Sutherland
Most of us have already read the myriad of articles about Panama, not to mention the “About Panama” section on the websites of every real estate agency promoting property in the region.
There is no doubt that Panama possesses numerous advantages, including its strategic geographic location, incentive program for retirees and a relatively low-cost of living, amongst others. However, some of the reasons that I particularly enjoy living in Panama cannot be when searching for the most obvious reasons, such as the Panama Canal (After showing my 4th visitor the Miraflores Locks, the outing becomes slightly monotonous) or its proximity to Miami (I’ve never been to Miami in my life!). Certain pleasures can only be recognized after living in Panama as a foreigner for some time.
Though I appreciate the similarities that Panama and the “Western World” share, I also cherish the differences, since they are what makes my life here truly unique and exciting.
Here are 13 reasons why Panama makes life so interesting:
1. Casco Viejo
-Casco Viejo is 100% different from the towering high rises scattered along Balboa Avenue. Casco Viejo has an interesting blend of architectural styles, most notably ornate Spanish- and French-influenced buildings. However, in addition to the amazing views and unique architecture, there is always something quirky going on in “the Casco”! My roommate is the president of Panama 9º80º, a lifestyle and travel magazine about Panama. Her offices are in Casco Viejo and I get an absolute kick out of dropping her off some mornings. It isn’t often that I get to laugh so hard I almost wet myself at 7:30 a.m. Much better than coffee! (Okay, that was an exaggeration. Sorry coffee.)
One of my favorite “Casco moments” occurred one morning as I was dropping my friend off at work. As we turned the corner onto Avenida A, we saw a little boy of about 7 years old peeing in the street. What made this pee different was that he was not facing the wall or partially hidden amongst the narrow alleyways, but was rather on the edge of the sidewalk, practically in the street, facing the traffic! As we neared the situation, we saw a projectile yellow liquid spurting from his body and said, “That can’t be!” However, it was. To this day, that little boy and his “necessities” still put a smile on my face.
2. Wine
-South American wine, from Chile and Argentina, is much less expensive than in the United States. However, who said you can have your cake and eat it too.
My friend and I were succumbing to our vices one night, and went to buy wine and ice cream at El Rey supermarket. As we were checking out, the $3.50 appeared on the screen as the price for the wine. I said to my friend, “How great is it to live in a country where a good bottle of wine is $3.50!?” Then, the ice cream came, and $8.50 appeared. My friend and I were in utter shock and disbelief. Since then, we have sought out other, less expensive means to satisfy a sweet tooth.
3. Sushi Itto
-Sushi delivered to your front door…Do I need to say anything else? If you think that there isn’t sushi in Panama, then you are in for a delightful surprise. Sushi Itto, in my humble, sushi snob opinion, is the best delivery sushi in Panama. Their Philadelphia rolls and Edamame are extremely scrumptious.
What’s even more interesting is when I’m walking to work or walking my mini schnauzer and the Sushi Itto delivery guy honks and waves as he zooms past on his little red moto. It must be a small world after all. Or, I order a lot of sushi!
4. American Dollar
-This is a commonly cited “reason” for why Panama is so great, and I agree whole heartedly!
For the foreigner, especially Americans, it is great because it doesn’t become “Monopoly money.” It is easy to be aware of exactly how much you are spending. There is no labor-intensive addition, subtraction, division or multiplication involved to figure out the price of a soda. So, in Panama, it is easy to grasp the value of what we purchase, instead of throwing away our Monopoly money at any and every chance we get. This is especially useful if you are off to the casinos!
5. Patacones
-Patacones are twice-fried plantain patties and incredibly delicious. I had not discovered them until my arrival in Panama, and I am a self-proclaimed patacon addict!
6. Albrook Mall
-Albrook Mall is a large, air conditioned indoor shopping center that offers a wide variety of discount stores and boutiques, as well as a food court with carousel. Be sure to check out El Costo, Oca Loca and Conway for some great deals!
These stores are magnificent for retail therapy. You can walk away with about 15 shirts for $20. Even if you wear them just once, it’s a lot cheaper than Target.
7. Opportunities
- Panama is like the Wild West of Central America. There is a huge variety of employment, business and investment opportunities just waiting to be taken advantage of. After being in Panama for almost any extended amount of time, everyone catches the entrepreneur fever.
8. Slang
-Though I don’t make it a habit to use it in my everyday speech, I must confess that I get an absolute kick out of the Panamanians’ faces when they see a full fledged gringa talking like she’s from the barrio.
9. Cable TV with ABC and CBS
-All the great things of Panama fused with Jeopardy, Wheel of Fortune and Grey’s Anatomy. Does it get any better?
10. Taxis
-Finally, inexpensive taxis! Taxis in Panama are abundant and relatively inexpensive, a fare costing from $1 to $2 to most location in Panama City. However, taxi meters are not typically used, and therefore it is recommended to negotiate the price before leaving. If you understand and speak Spanish, you can overhear and engage in a number of colorful conversations with drivers.
11. Cayos Zapatillas, aka. Zapatila Cay
-Zapatilla Cay is a small island located about an hour boat ride from the main Isla Colon in the Bocas del Toro province. Zapatilla Cay is astonishingly beautiful, including spectacular views, clear waters and white sand. Without a doubt, it is one of my favorite places in Panama.
12. Fireworks
-Back in the states, fireworks were reserved for the 4th of July, and some spectacles at Sea World. In Panama City, it’s not bazaar to see fire works going off every night of the week. On New Year’s, the entire city, and I mean as far as the eye can see, ignites with the colorful flashes and flickers of thousands of fireworks.
13. Piropos
-What’s a piropo? I have yet to find a direct translation that suits me. Some dictionaries translate it as “compliment,” though that is a serious understatement. Piropo is a word that stands for what men do to a pretty girl as she walks by. Flirt, not really. Torment, could be. Most Westerners would agree that this is a “Latin thing.” I generally can’t stand it and want to flip off everybody that whistles and hisses and yells “Ay mami” as I stroll along. However, on days when I roll out of bed and my hair is astray, I must say that I feel less hideous as I waltz along and still get the “Yeah baby”. I know it is done to all women. I was in a taxi once and the driver whistled and hooted at a couple of women that looked as though they were pushing 70 years old. I’m not implying that they were not attractive, but the taxi driver was about 25! Moral of the story, it’s one place to get an ego boost.
Bonus - The Finger Wag
-You all know the finger wag, a way to indicate disapproval of something. The motion is generally carried out by wagging the index finger from left to right, considered by most incredibly rude and demeaning. Well, the Finger Wag is back in Panama! The best way to say no ever!
Watch Internet TV about Panama on Latin America Real Estate TV!
Most of us have already read the myriad of articles about Panama, not to mention the “About Panama” section on the websites of every real estate agency promoting property in the region.
There is no doubt that Panama possesses numerous advantages, including its strategic geographic location, incentive program for retirees and a relatively low-cost of living, amongst others. However, some of the reasons that I particularly enjoy living in Panama cannot be when searching for the most obvious reasons, such as the Panama Canal (After showing my 4th visitor the Miraflores Locks, the outing becomes slightly monotonous) or its proximity to Miami (I’ve never been to Miami in my life!). Certain pleasures can only be recognized after living in Panama as a foreigner for some time.
Though I appreciate the similarities that Panama and the “Western World” share, I also cherish the differences, since they are what makes my life here truly unique and exciting.
Here are 13 reasons why Panama makes life so interesting:
1. Casco Viejo
-Casco Viejo is 100% different from the towering high rises scattered along Balboa Avenue. Casco Viejo has an interesting blend of architectural styles, most notably ornate Spanish- and French-influenced buildings. However, in addition to the amazing views and unique architecture, there is always something quirky going on in “the Casco”! My roommate is the president of Panama 9º80º, a lifestyle and travel magazine about Panama. Her offices are in Casco Viejo and I get an absolute kick out of dropping her off some mornings. It isn’t often that I get to laugh so hard I almost wet myself at 7:30 a.m. Much better than coffee! (Okay, that was an exaggeration. Sorry coffee.)
One of my favorite “Casco moments” occurred one morning as I was dropping my friend off at work. As we turned the corner onto Avenida A, we saw a little boy of about 7 years old peeing in the street. What made this pee different was that he was not facing the wall or partially hidden amongst the narrow alleyways, but was rather on the edge of the sidewalk, practically in the street, facing the traffic! As we neared the situation, we saw a projectile yellow liquid spurting from his body and said, “That can’t be!” However, it was. To this day, that little boy and his “necessities” still put a smile on my face.
2. Wine
-South American wine, from Chile and Argentina, is much less expensive than in the United States. However, who said you can have your cake and eat it too.
My friend and I were succumbing to our vices one night, and went to buy wine and ice cream at El Rey supermarket. As we were checking out, the $3.50 appeared on the screen as the price for the wine. I said to my friend, “How great is it to live in a country where a good bottle of wine is $3.50!?” Then, the ice cream came, and $8.50 appeared. My friend and I were in utter shock and disbelief. Since then, we have sought out other, less expensive means to satisfy a sweet tooth.
3. Sushi Itto
-Sushi delivered to your front door…Do I need to say anything else? If you think that there isn’t sushi in Panama, then you are in for a delightful surprise. Sushi Itto, in my humble, sushi snob opinion, is the best delivery sushi in Panama. Their Philadelphia rolls and Edamame are extremely scrumptious.
What’s even more interesting is when I’m walking to work or walking my mini schnauzer and the Sushi Itto delivery guy honks and waves as he zooms past on his little red moto. It must be a small world after all. Or, I order a lot of sushi!
4. American Dollar
-This is a commonly cited “reason” for why Panama is so great, and I agree whole heartedly!
For the foreigner, especially Americans, it is great because it doesn’t become “Monopoly money.” It is easy to be aware of exactly how much you are spending. There is no labor-intensive addition, subtraction, division or multiplication involved to figure out the price of a soda. So, in Panama, it is easy to grasp the value of what we purchase, instead of throwing away our Monopoly money at any and every chance we get. This is especially useful if you are off to the casinos!
5. Patacones
-Patacones are twice-fried plantain patties and incredibly delicious. I had not discovered them until my arrival in Panama, and I am a self-proclaimed patacon addict!
6. Albrook Mall
-Albrook Mall is a large, air conditioned indoor shopping center that offers a wide variety of discount stores and boutiques, as well as a food court with carousel. Be sure to check out El Costo, Oca Loca and Conway for some great deals!
These stores are magnificent for retail therapy. You can walk away with about 15 shirts for $20. Even if you wear them just once, it’s a lot cheaper than Target.
7. Opportunities
- Panama is like the Wild West of Central America. There is a huge variety of employment, business and investment opportunities just waiting to be taken advantage of. After being in Panama for almost any extended amount of time, everyone catches the entrepreneur fever.
8. Slang
-Though I don’t make it a habit to use it in my everyday speech, I must confess that I get an absolute kick out of the Panamanians’ faces when they see a full fledged gringa talking like she’s from the barrio.
9. Cable TV with ABC and CBS
-All the great things of Panama fused with Jeopardy, Wheel of Fortune and Grey’s Anatomy. Does it get any better?
10. Taxis
-Finally, inexpensive taxis! Taxis in Panama are abundant and relatively inexpensive, a fare costing from $1 to $2 to most location in Panama City. However, taxi meters are not typically used, and therefore it is recommended to negotiate the price before leaving. If you understand and speak Spanish, you can overhear and engage in a number of colorful conversations with drivers.
11. Cayos Zapatillas, aka. Zapatila Cay
-Zapatilla Cay is a small island located about an hour boat ride from the main Isla Colon in the Bocas del Toro province. Zapatilla Cay is astonishingly beautiful, including spectacular views, clear waters and white sand. Without a doubt, it is one of my favorite places in Panama.
12. Fireworks
-Back in the states, fireworks were reserved for the 4th of July, and some spectacles at Sea World. In Panama City, it’s not bazaar to see fire works going off every night of the week. On New Year’s, the entire city, and I mean as far as the eye can see, ignites with the colorful flashes and flickers of thousands of fireworks.
13. Piropos
-What’s a piropo? I have yet to find a direct translation that suits me. Some dictionaries translate it as “compliment,” though that is a serious understatement. Piropo is a word that stands for what men do to a pretty girl as she walks by. Flirt, not really. Torment, could be. Most Westerners would agree that this is a “Latin thing.” I generally can’t stand it and want to flip off everybody that whistles and hisses and yells “Ay mami” as I stroll along. However, on days when I roll out of bed and my hair is astray, I must say that I feel less hideous as I waltz along and still get the “Yeah baby”. I know it is done to all women. I was in a taxi once and the driver whistled and hooted at a couple of women that looked as though they were pushing 70 years old. I’m not implying that they were not attractive, but the taxi driver was about 25! Moral of the story, it’s one place to get an ego boost.
Bonus - The Finger Wag
-You all know the finger wag, a way to indicate disapproval of something. The motion is generally carried out by wagging the index finger from left to right, considered by most incredibly rude and demeaning. Well, the Finger Wag is back in Panama! The best way to say no ever!
Watch Internet TV about Panama on Latin America Real Estate TV!
Monday, February 26, 2007
Price index. Investors look for returns of at least 1% per month.
Watch programs about Panama on Latin America Real Estate TV!
By Marianela Palacios Ramsbott of La Prensa
mapalacios@prensa.com
The price to rent apartments and houses in Panama has only increased 2.5% in the last six years, according to the Consumer Price Index (Precios al Consumidor or IPC) of the General Controller’s Office of the Republic (Contraloría General de la República).
However, Luis, who lives in a three bedroom apartment on Vía Argentina, pays 20% more for rent than the prior tenant.
“They charge me 600 dollars and in 2005 they charged 500 dollars,” he said.
The difference in the price variation is understandable. The Index of the General Controller’s Office is based on the weighted average of the properties offered by real estate firms in Panama City, San Miguelito and the rest of the country’s urban centers.
“That percentage is an average of the variations that all segments collectively contribute, but the prices vary a lot from segment to segment,” clarifies Ivan Carlucci, the new president of the Association of Real Estate Brokers (Asociación de Corredores de Bienes Raíces or Acobir), who assumed the position Thursday night.
“For example, the rise in rent in the case of residences over 100 thousand dollars should be around 25%.”
Towards the Future
This increment is not only related to the rise in construction material and the appreciation of new dwellings, but also to the market tendencies that have produced the real estate boom. People that buy property with the intention to rent expect a return on their investment of at least 1% per month.
“If you bought an apartment in 2000 for 60 thousand dollars, you would rent it for 600. But a similar apartment now would cost 80 thousand dollars and therefore the owners are renting them at 800 dollars,” comments Carlucci.
Hopefully, as a result of the expansion of the Panama Canal, the rental market will recover again beginning in 2008.
By Marianela Palacios Ramsbott of La Prensa
mapalacios@prensa.com
The price to rent apartments and houses in Panama has only increased 2.5% in the last six years, according to the Consumer Price Index (Precios al Consumidor or IPC) of the General Controller’s Office of the Republic (Contraloría General de la República).
However, Luis, who lives in a three bedroom apartment on Vía Argentina, pays 20% more for rent than the prior tenant.
“They charge me 600 dollars and in 2005 they charged 500 dollars,” he said.
The difference in the price variation is understandable. The Index of the General Controller’s Office is based on the weighted average of the properties offered by real estate firms in Panama City, San Miguelito and the rest of the country’s urban centers.
“That percentage is an average of the variations that all segments collectively contribute, but the prices vary a lot from segment to segment,” clarifies Ivan Carlucci, the new president of the Association of Real Estate Brokers (Asociación de Corredores de Bienes Raíces or Acobir), who assumed the position Thursday night.
“For example, the rise in rent in the case of residences over 100 thousand dollars should be around 25%.”
Towards the Future
This increment is not only related to the rise in construction material and the appreciation of new dwellings, but also to the market tendencies that have produced the real estate boom. People that buy property with the intention to rent expect a return on their investment of at least 1% per month.
“If you bought an apartment in 2000 for 60 thousand dollars, you would rent it for 600. But a similar apartment now would cost 80 thousand dollars and therefore the owners are renting them at 800 dollars,” comments Carlucci.
Hopefully, as a result of the expansion of the Panama Canal, the rental market will recover again beginning in 2008.
Wednesday, February 21, 2007
Bocas Del Toro, Panama
Check out programs about Panama on Panama Real Estate TV!
In search of a more "tranquilo" place to spend my Carnavales, I chose Bocas Del Toro. Though I appreciate a good party, I am not one for getting sprayed with fire houses. I went to "La Tomatina" once in Buñol, Spain, and decided that I'd had enough of crazy, water-logged festivals!
It was my fifth time in Bocas (and I've only been in Panama 1 year and 9 months), though my first time spending Carnavales. To learn more about Bocas, check out Panama 9º80º, a superb lifestyle and travel magazine with interesting articles about Panama.
We stayed at Swan's Cay and El Limbo, both great hotels. Swan's Cay has comfortable rooms at a fair price. Also, they have a swimming pool and carpeted floors. The swimming pool comes in handy when you have had enough of the ocean water, and the carpeted floors keep you from tracking sand all over the place. El Limbo is arguably the nicest hotel on the main island Isla Colon. A fews select rooms have beautiful views of the ocean and the surrounding islands. The beds are incredibly comfortable and the rooms are well lit. However, you pay for the upgrade.
The service this trip was less-than-optimal. I understand the relaxed, Caribbean atmosphere, but it was a little much, or less, at times. I am under the impression that the large amount of visitors, combined with the locals enjoying their holidays, created a strain on personnel. Just be sure to bring something to do during breakfast!
Please feel free to post any questions or comments are e-mail me directly at mona@wsi-easyweb.com.
In search of a more "tranquilo" place to spend my Carnavales, I chose Bocas Del Toro. Though I appreciate a good party, I am not one for getting sprayed with fire houses. I went to "La Tomatina" once in Buñol, Spain, and decided that I'd had enough of crazy, water-logged festivals!
It was my fifth time in Bocas (and I've only been in Panama 1 year and 9 months), though my first time spending Carnavales. To learn more about Bocas, check out Panama 9º80º, a superb lifestyle and travel magazine with interesting articles about Panama.
We stayed at Swan's Cay and El Limbo, both great hotels. Swan's Cay has comfortable rooms at a fair price. Also, they have a swimming pool and carpeted floors. The swimming pool comes in handy when you have had enough of the ocean water, and the carpeted floors keep you from tracking sand all over the place. El Limbo is arguably the nicest hotel on the main island Isla Colon. A fews select rooms have beautiful views of the ocean and the surrounding islands. The beds are incredibly comfortable and the rooms are well lit. However, you pay for the upgrade.
The service this trip was less-than-optimal. I understand the relaxed, Caribbean atmosphere, but it was a little much, or less, at times. I am under the impression that the large amount of visitors, combined with the locals enjoying their holidays, created a strain on personnel. Just be sure to bring something to do during breakfast!
Please feel free to post any questions or comments are e-mail me directly at mona@wsi-easyweb.com.
Carnavales in Panama
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As some of you may know, we just celebrated "Carnavales" in Panama. Learn more on "Why I Love Panama."
When one hears the word “Carnival”, cities like Rio de Janeiro in Brazil or New Orleans in the United States are what usually come to mind. However, the Carnival celebration in Panama City, Panama is the second largest in the world! Not too bad for a country with a population of only 3.5 million.
Celebrated since the early 1900's, the official start date of Panama's Carnival is the fourth day before Ash Wednesday, or February 17th of 2007. However, many people begin the celebrations a few days early. During the official days of Carnival, most work comes to a complete stop (aka. It is VERY difficult to do business in Panama during this time.) and the main streets of Panama City are brimming over with parades, floats, masks, costumes and confetti. The largest celebrations take place in Panama City and the town of Las Tablas in the Los Santos province.
Las Tablas, a provincial town about l30 miles west of Panama City, is considered by many (especially young people) the best place to celebrate Carnival. The atmosphere is more folkloric and enlivened by an intense, traditional rivalry between "high street" and "low street" for the fanciest costumes and most creative floats. A word to the wise - If you do NOT like huge parties with lots of people, water trucks spraying the crowds and alcohol, you may want to find someplace a bit more “tranquilo” than Las Tablas.
The following web sites will provide you with more information on Las Tablas Carnival celebration.
http://www.calleabajo.com
http://www.carnavaleslastablas.com
http://www.callearriba.com
The Panama City Carnival begins the Friday before Ash Wednesday:
The festivities begin on Friday with the selection the Carnival Queen and her attendants. Afterwards, the queen reigns over the daily parade and official activities. Panama City’s best hotels sponsor related gastronomical and dancing events, including: Cuban Week at the El Panama, Dominican Republic week at the Caesar Park and Puerto Rican Week at the Riande Continental.
On Saturday, one of Panama City’s main streets (i.e. Vía España, Transítmica, Avenida Balboa, Calle 50) is packed with people ready for a party. The streets are filled with small parades, music stands blasting salsa and street vendors selling shish kabobs and beer. Each day of Carnival, the streets are filled with people dancing, carousing and socializing amongst each other. In the evening, the celebration generally moves indoors around the Panama City’s numerous discos, bars and hotels, the festivities generally lasting until dawn.
A tradition of the Panamanian Carnival is the "mojaderas" or "getting drenched" with water. Everyone is a target of the numerous fire hoses, water balloons and buckets. So, if you don’t like getting wet, this may not be the party for you! However, it can be a welcome relief after being under the hot, midday sun. On Sunday around noon, there is a large, beautiful "pollera" parade. Polleras are Panama's national costume and thousands of women and girls are dressed in this lovely national dress to march by groups in the parade or simply walk around.
The festivities continue on Monday with small parades and socializing. “Fat Tuesday” is the biggest Carnival celebration day. On Tuesday, a huge New Orleans-style parade, including lavishly decorated floats and people in costume from all sectors of society, marches through Panama City. The party finishes in the early hours of the morning.
As some of you may know, we just celebrated "Carnavales" in Panama. Learn more on "Why I Love Panama."
When one hears the word “Carnival”, cities like Rio de Janeiro in Brazil or New Orleans in the United States are what usually come to mind. However, the Carnival celebration in Panama City, Panama is the second largest in the world! Not too bad for a country with a population of only 3.5 million.
Celebrated since the early 1900's, the official start date of Panama's Carnival is the fourth day before Ash Wednesday, or February 17th of 2007. However, many people begin the celebrations a few days early. During the official days of Carnival, most work comes to a complete stop (aka. It is VERY difficult to do business in Panama during this time.) and the main streets of Panama City are brimming over with parades, floats, masks, costumes and confetti. The largest celebrations take place in Panama City and the town of Las Tablas in the Los Santos province.
Las Tablas, a provincial town about l30 miles west of Panama City, is considered by many (especially young people) the best place to celebrate Carnival. The atmosphere is more folkloric and enlivened by an intense, traditional rivalry between "high street" and "low street" for the fanciest costumes and most creative floats. A word to the wise - If you do NOT like huge parties with lots of people, water trucks spraying the crowds and alcohol, you may want to find someplace a bit more “tranquilo” than Las Tablas.
The following web sites will provide you with more information on Las Tablas Carnival celebration.
http://www.calleabajo.com
http://www.carnavaleslastablas.com
http://www.callearriba.com
The Panama City Carnival begins the Friday before Ash Wednesday:
The festivities begin on Friday with the selection the Carnival Queen and her attendants. Afterwards, the queen reigns over the daily parade and official activities. Panama City’s best hotels sponsor related gastronomical and dancing events, including: Cuban Week at the El Panama, Dominican Republic week at the Caesar Park and Puerto Rican Week at the Riande Continental.
On Saturday, one of Panama City’s main streets (i.e. Vía España, Transítmica, Avenida Balboa, Calle 50) is packed with people ready for a party. The streets are filled with small parades, music stands blasting salsa and street vendors selling shish kabobs and beer. Each day of Carnival, the streets are filled with people dancing, carousing and socializing amongst each other. In the evening, the celebration generally moves indoors around the Panama City’s numerous discos, bars and hotels, the festivities generally lasting until dawn.
A tradition of the Panamanian Carnival is the "mojaderas" or "getting drenched" with water. Everyone is a target of the numerous fire hoses, water balloons and buckets. So, if you don’t like getting wet, this may not be the party for you! However, it can be a welcome relief after being under the hot, midday sun. On Sunday around noon, there is a large, beautiful "pollera" parade. Polleras are Panama's national costume and thousands of women and girls are dressed in this lovely national dress to march by groups in the parade or simply walk around.
The festivities continue on Monday with small parades and socializing. “Fat Tuesday” is the biggest Carnival celebration day. On Tuesday, a huge New Orleans-style parade, including lavishly decorated floats and people in costume from all sectors of society, marches through Panama City. The party finishes in the early hours of the morning.
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