Privatus Maximus is proud to present a new state-of-the-art residential development in the city center of Panama City.
It is the only high-tech project that will be situated in the new 28-million-dollar urban revitalization area.
The area will be devoted to providing Panamanians, expats and visitors world-class accommodation, a variety of dining options including open-air cafes, green spaces for pedestrians and residencies with high-end amenities.
All of this within one of the hottest social places of Panama and one of the most beautiful places in the whole country.
The residences have a variety of 1,2- and 3-bedroom apartments with en-suite bathroom and walk-in closet.
While some will be lucky enough to live here, this complex made of two towers has been granted a special license for short term leasing, allowing
the possibility of over-night rental with rental units offering all
the comfort and advantages of a hotel, but in an apartment-style living.
This short-term rental license costs over 1 million dollars, but in Uptown this has already been settled and you will have the chance to profit from your investment by renting to over-night travelers.
One tower will be devoted to short term stays, while the second to long term and full-time residence.
With a spectacular location in the heart of Central America and the bridge of the world, a 24-hour concierge and a short-term rental license, the potential for ROI is exceptional.
Panama has never seen a development like Uptown, which has been inspired by the Lincoln-Road Mall in Miami. This development will have similar amenities to its cousin in Miami, embracing an open-air pedestrian center.
This project works great either if you are looking for a place of permanent residency or for an investment that can bring high returns.
Uptown is located in one of the hottest spots in Panama in many aspects. This project is located in Calle Uruguay, which is a special neighborhood in Panama that is characterized by an active nightlife. This is the main spot for restaurants, pubs, nightclubs, bars, and cafes and all the nightlife is concentrated here.
But what makes this area special is the fact that it´s located in the city center, the heart of Panama.
Casco Antiguo is another excellent place for nightlife and entertainment, but it´s far away from the city, the major supermarkets, malls, banks, stores, transportation, metro stations, etc.
Calle Uruguay, on the other hand, where Uptown is located, is very near Calle 50 which is the banking and business hub of the city. Here you will find branches for all of Panama banks and many financial offices and businesses.
Also, Uptown is located near what the writer considers one of the most beautiful places in the world: Cinta Costera.
This is a sidewalk located right on the Pacific Coast, it has a wide pedestrian path and also a trail bike. Here I have enjoyed some of the best walks in my life, at sunset by the Ocean. It is a great place for jogging, for talking a romantic walk, for walking your dog, for entertaining your kids, and all of this with a fantastic view. If you stand right in the middle of Cinta Costera, to your left you will see the majestic modern town, with its skyscrapers and you will feel at the top of the world.
To your right at a distance, you will have a fantastic view of Panama´s old town called Casco Antiguo, which is characterized by having a colonial style and old but very well-preserved buildings and houses. Before you, you´ll have nothing but the ocean and its immensity.
But this is not it, near this area you also have medical facilities of which we want to highlight the Johns Hopkins hospital, which is a medical center with the highest level in medicine and medical technology. Johns Hopkins can be compared to those in the US or Europe.
If you would ask me where in Panama would I choose to live, it would definitely be in Calle Uruguay, so Uptown offers a unique opportunity for living and rental. Imagine the ROI you could have by owning three apartments in Uptown and giving them out for rent.
Why buying with Privatus Maximus and Bern?
Privatus Maximus has partnered with the best and most prestigious developer in Panama: Bern. This development is run by a family and it has an exceptional reputation. Bern uses the best construction materials, thus guaranteeing that the properties are of great quality and will maintain their quality over time. With Bern you have yourself an investment that will last in your family for generations, and from which your descendants will still be able to profit.
If you purchase your brand-new home from Bern through Privatus Maximus, then you can have special promotions and a special treatment as Privatus Maximus reader and follower. Bern´s representative, Liz Larroquete, will show Privatus Maximus´s readers the properties herself and with no extra cost. Also, only if you purchase through Privatus Maximus you will get special discounts, financing options, and special management discounts. That´s right, Bern also offers management services, which works out very well for those who are looking to keep a rental property in Panama but live abroad.
What we offer
- Panama´s first Air B and B overnight rental license (rental by night is illegal in Panama and a building must have a license whose cost is over 1 million). This allows you to rent your apartment nightly if you wish.
- Huge shopping and smart city complex below and beside all the nightlife.
- Finance with ROI of over 8% plus option to have it managed by Bern or manage by yourself.
- Special deals for Family Offices who buy in bulk.
Why is this the best time to buy in Panama
With the coronavirus crisis the world has become an uncertain place. Even if some countries have lifted the quarantine regimes, the governments are still in control and it´s only a matter of time until they decide to press the red button again and impose a new lockdown, which, as far as we know, might be never-ending.
We are maybe standing before the biggest economic crisis in history and it´s imperative to take measures to protect ourselves and our families.
From all the countries in Latin America, Panama is the one that´s more prepared to face an economic crisis. Having the US dollar as currency makes the economy very stable and, let´s face it, Panama will still be the country of the Canal after the pandemics is over, meaning it will still have income from commercial and financial activities.
Another big advantage of Panama is the social stability. Social unrest derived from the pandemics has been a common factor throughout all America, from the United States to some Latin American countries. People are protesting and striking against the government and the extreme COVID-19 measures and things may even get worse.
Panama has been a country characterized for having a peaceful political and social environment and much less social distress than in many countries of Latin America.
If you want a safe place from the pandemics and from the government measures, then Panama is a great choice.
Also, it is advisable to take advantage of the fantastic residency programs that the government is promoting, which, in view of everything that´s happening, may very well not be available in the future.
The advantages of Panama
Thanks to the Panama Canal and to the policies implemented by the government, Panama has experienced an important growth in GDP, between 7% and 10% in the last decade. Thus, the Panamanian economy has become one of the fastest to grow in Latin America.
Th expansion of the Panama Canal, inaugurated in 2016, and the project of the metro construction are only some of the highlights of a thriving economy, undoubtedly the best of the region.
Thanks to its unique geographic location, to its developed and secure banking system and to its business-friendly environment, Panama is one of the most important business hubs not only in Latin America but in the whole world.
Over the past decade, tourism has bloomed into a major services sector for Panama. In 2015, over 2.5 million visitors came to Panama, which is an impressive achievement for a small country with a population of only 3.5 million. Tourists came from all parts of the world: 40% from North America, 40% from the Central American region, and the remaining 20% from Europe and South America.
This industry accounted for more than 135,000 jobs in 2015, which represented 7,5% of total employment in Panama. Lately, tourism has been a key driver in GDP growth and one of the fastest-growing sectors in Panama’s economy (along with commerce, construction, and banking).
Being a country between two oceans, Panama offers many tropical beaches both on the Pacific Ocean and the Caribbean Sea. If you enjoy surfing you can go to a Pacific beach like Playa Venao, but if you only want to relax in the peaceful waters of the Caribbean, you can choose San Blas or Bocas del Toro.
Panama has also great diving and snorkeling spots. If you want to watch and get to know some of the best sea life of the region, we recommend Isla Coiba on the Pacific side, which is considered the best snorkeling place in Panama.
Dollar based economy
Panama is one of the few countries in Latin America that uses the US dollar as their currency. This is very convenient both for travelers and residents as the former don´t need to worry about the exchange rates, and the latter enjoy a strong economy and are protected from the inflation issues that painfully strike Latin America.
Visa and Residency
Panama is widely known for its immigration visas and residency programs. This country actually has one of the most innovative and straight-forward visa programs called the friendly nations visa. This option is available for citizens of approximately 50 countries that are considered to be in good relations with Panama.
With a simple procedure, these citizens can obtain a residency for life in only a few months. They need to show a financial connection to Panama (work contract or company registered), deposit 5,000 in a bank account (which can be recovered after obtaining residency). Another great option is the pension-ado visa, which we have covered in detail in our Country Focus.
Contact us now and ask for our special offers and promotions, our Bern representative will be more than happy to show you the properties in the Bern portfolio.