In the News from Panama

Gone! Beach Club Residences Almost Sold Out

A few weeks ago we told you about the last three-bedroom apartment available in Beach Club Residences (BCR), the waterfront project on Ocean Reef Islands in Panama Bay. We warned that the three-bedroom apartments have been extremely popular and the unit was unlikely to last.

Sure enough, it has sold. We had to wait to share the news, but it actually sold within 48 hours of our announcement.

And now we have some big news: there are only two, two-bedroom apartments left in BCR. That’s right, it’s almost completely sold out.

These two-bedroom apartments represent the last chance to own in BCR at the pre-opening prices, which will almost certainly never be seen again. Today, we can also announce that we have access to a special close-out price of $799,000 for one of the remaining residences. These deals are exclusive to PPR and given recent activity, we doubt these units will stay available for more than a few days.

It’s been exciting to watch the sales at BCR, as people realized that it was possible to enjoy all the attributes of the luxurious Ocean Reef Islands for under $1 million. Ocean Reef offers island living, minutes from downtown Panama City, anchored by the city’s largest yacht club.

We saw a major surge in interest last month with yachts arriving to fill the first 40 slips in the Ocean Reef marina. There was more than $3 million in sales the week of the marina opening alone.

Beach Club Residences Pool Deck Area

The remaining two bedrooms in BCR offer all the beauty, luxury, and tranquility of Ocean Reef. Both have private gardens and are located on the pool deck for easy access to the social area, a prime spot in the project. Both also provide complete access to the BCR waterfront lifestyle, including the project’s private pier and watersports center. 

In recent months, we’ve seen how savvy investors are evaluating these last few units. It’s simply a case of supply and demand.  Some segments of the market may be sluggish, but when quality units come on the market, and there is a limited supply, they tend to sell quickly.

The buyer saw all the attributes and didn’t hesitate. We had other interested parties who are now kicking themselves for waiting.

There are lessons to be learned from the experience. What more information? Want details on these last exclusive opportunities? Click here for pricing and details.