Bala Beach - Beachfront Panama Real Estate for less than US$85,000
Bala Beach Resort is located on the most beautiful beach of Panama's Caribbean coast, just a one-hour drive from Panama City and near the charming historic town of Portovelo. The residential resort sits on a spectacular crescent shaped bay on the Caribbean coast.
This master-planned overseas investment property and vacation homes are designed for those seeking the perfect escape... crystal clear waters, white sand beaches and stunning mountain backdrops that provide a breathtaking view from any point on the resort.
Surrounded by natural beauty, the resort features world-class amenities including beach cabanas, 10 pools, tennis courts, Spa, valet parking and 24-hour concierge.
Why Bala Beach Resort
- Beachfront location
- Located on the most beautiful beach of Panama’s Caribbean coast, just a one hour drive from Panama City
- Each apartment offers breathtaking views of the ocean and gorgeous mountain landscape
- Financing is available
- 20 year Property Tax exemption
- Close to the Free Trade Zone
- Contracts are assignable
- Close to a Marina where boat owners can dock their boats
- Close to a National parks with beautiful hiking trails
- Ground floor opportunity to buy at affordable prices
- Rental pool available
Location
Bala Beach Resort is located in the province of Colon on the Caribbean coast and is just minutes away from some of the most interesting landmarks you’ll find in all of Panama.
You will find 20 acres of some of the most dramatic landscapes - a place where the hills meet a calm ocean and open up to an amazing view.
Only 20 minutes from Bala Beach Resort is Portobelo, a beautiful historic port town with gorgeous churches and nearby white sand beaches at Playa Langosta. Very near to the town of Portobelo, you will also find the sprawling Portobelo National Park comprised of 34,846 hectares filled with coral reef communities and coastal forests.
Other attractions include the popular weekend destination Isla Grande, historic forts built in the 16th century and the second largest free trade zone in the world, the Colon Free Trade Zone. Nearby are deep-sea fishing, SCUBA diving areas and also the new home-port of the Royal Caribbean cruise line.
Currently under construction by Panama’s government is a new highway that will make traveling to and from the international airport and cosmopolitan Panama City even more convenient, by cutting the travel time to 50 minutes.
Bala Beach Resort is only minutes away from the nearest hospital, supermarket and other desired amenities required for residential living.
The Residences
There will be 880 residences in total. Each apartment offers breathtaking views of the Caribbean Sea and the gorgeous mountain landscape. Choose from studios, one-, two- and three-bedroom layouts. Lofts and duplex units are also available and include an additional rooftop terrace ranging from 538 - 925 sq.ft.
| UNIT TYPE | INDOOR AREA | PRICES FROM: | |
| Apartments |
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| Studio | > 484 sq.ft | US$83,250 | |
| 1 bed apartments | > 699 sq.ft | US$127,650 | |
| 2 bed apartments | > 915 sq.ft | US$173,550 | |
| 3 bed apartments | > 1399 sq.ft | US$263,250 | |
| Loft apartments |
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| 1 bed loft | > 1,399 sq.ft | US$315,200 | |
| 2 bed loft | > 1,937 sq.ft | US$315,200 |
- Additional US$2,000 per floor, per unit, regardless of unit size.
- Additional 10% for swim-up unit (first floor units in building 2).
- Appliances packages will be available, priced between US$5,000 and US$10,000.
- Furniture packages will be available from US$5,000 (studio).
- The service charge/maintenance fee will be US$2 per sqm.
Amenities
The Bala Beach Resort offers an impressive range of amenities and services including:
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Bala Beach Resort will have a professionally-managed rental program for those condo hotel unit owners who wish to have their vacation home generate revenue to offset expenses.
The developer is predicting a daily rate of just over $100 per night for a studio, and 2 bed units could rent for well over $250 per night.
The hotel occupancy index, which is published by Deloitte, showed that Panama City has the second highest hotel occupancy rate of any city. Panama, which had a hotel occupancy rate of 84.7 percent, was topped only by Perth, Australia.
Purchase Details
Construction at Bala Beach Resort has started and completion of Phase 1 is scheduled for 2010. The entire development will be completed by 2013.
The payment schedule is 10% at contract, which is then followed by three stage payments of 10% each throughout the first year. The balance of 60% is due at completion.
The contracts are assignable.
Financing is available through the developer’s preferred lenders; HSBC and Scotiabank.
20 Years Property Tax exemption.
All property titles in Panama are maintained at the Public Registry and considered to be fee-safe.
Hot Properties Worldwide is an authorised sales representative of Bala Beach Resort
