In the News from Panama

Breaking News: Beach Club Residences Almost 90% Sold Out

We can now say, without a doubt, Beach Club Residences on Ocean Reef islands has been one of the most successful projects in recent Panama history. After less than a year, 90 percent of the project has been sold and the last units are on the verge of being sold out as well.

At this point, there are only 9 units left, which are a mix of two and three-bedroom units. Each shows off all the great attributes of BCR–fantastic ocean views, walking distance to the Ocean Reef Yacht Club and amenities only found in five-star resorts. There is no such thing as a bad unit in the six-story complex, which is perfectly designed to take full advantage of the breathtaking views.  

In the past year, the response to BCR has been outstanding.  More than $30 million in sales contracts have been signed-in the year since PPR was named the master broker. I can’t think of another development in Panama that can boast that type of number.

I have seen firsthand what is capturing the attention of buyers. I always like to talk to prospective buyers and make sure I understand their response. It’s not complicated–BCR offers island living and its minutes from downtown, which can’t be duplicated by any other condominium project.  They see the spectacular location overlooking the marina & yacht club, and the private water sports pier, which is unique even for Ocean Reef, and they understand the value proposition.

On Ocean Reef, these types of price points are unlikely to be seen again.

As the inventory has shrunk, interest has intensified, a sure sign that investors see the fading opportunity. A few weeks ago we sold six units (3-bedroom apartments) in a 30-day pre-launch window in the third and final phase, without any outside marketing. Almost all the sales have come from word of mouth among our clients and the developer’s mailing list.

And then, a few days later, the last penthouse was sold. It was in the second phase and came on the market unexpectedly and then was very quickly sold.

We’ve reached that point in the sales cycle–the last units won’t be available for long.

Please contact me now if you are even remotely interested and I will be happy to fill you in on the details, no strings attached.



Duncan McGowan is President of Punta Pacifica Realty, the largest sales, rental and property management firm in Panama City.


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