Highly-Anticipated Ocean Reef Project Begins Deliveries
Great news for followers of Panama City’s property market. The first phase of the Seascape Beach and Wellness Resort, the first health and wellness-focused residential development in Panama City has received its occupancy permit and is delivering units to owners.
In many ways, Seascape is one of the most anticipated projects in the capital. It was popular from the day it was announced and quickly sold out. Every aspect of the waterfront community is designed to create a healthy atmosphere, making it a perfect development to capture the beauty and possibilities of the Ocean Reef island lifestyle.
Seascape is the latest Ocean Reef Signature Resort Collection member to hand over units, following the famous Beach Club Residences, which is also on Ocean Reef’s fast-developing second island. It’s fair to say that the Ocean Reef Signature Resort Collection represents projects that literally deliver. They are well-planned with amenities that the market wants; they sell in a steady fashion; and they get built — that’s why we refer to ORSRC as the most successful group of properties in Panama City’s history.
It speaks volumes that we are seeing very few resales available in the first phase. This is a project where people bought a home to live and hold. We have two units available, but this is not a project where people want to sell their units. This is one of those projects where supply will always be limited. (We should also note that prices are coming in 20% to 30% above pre-construction prices.)
We expect demand to remain high for living in this special place. Available units will be rare commodities. And I can confirm that there will be a few units available for rent in the near future. Our PPR rental team is working with owners to prepare a few units for rental, outfitting the apartments with appliances, lighting, furniture, and everything needed to get ready for tenants.
Even as we celebrate this exciting milestone for Seascape, construction is rapidly finishing up on the second phase, which is expected to begin delivering in late April to early May. Congratulations to all the new owners in Seascape and welcome to Ocean Reef!
We still have a selected inventory of apartments for sale, if you are interested, don’t doubt to contact us at firstname.lastname@example.org for more information or click here for more details.