This is what I call turnkey luxury. Everything works here. The roads are wide and smooth, the landscaping mature, the amenities world-class. And when I walk the golf course or visit the five-star Santa María Hotel & Resort — part of Marriott’s Luxury Collection — I’m reminded just how far Panama has come. You can start your morning with a round of golf, have lunch at the resort’s upscale restaurant, relax at the spa and be at a business meeting in the city within 20 minutes. It’s ideal for expats, digital nomads with families, early retirees or anyone looking for an elegant, convenient and high-performing real estate play.
We had a RETA deal in October 2020 there in Ocean House, and a RETA member bought a two-bed condo for $268,200. In September 2024, my scouts were on a tour of Santa Maria and were told this condo would list for more than $368,000. And that it’s renting long term for $2,600 a month — a gross yield of 11.6%.
In September 2021, six RETA members were able to buy spacious three-bedroom condos from $540,020 in a community within Santa Maria called Pinnacle. In 2024, these and similar condos are listed between $668,000 to $695,000. That’s $128,000 to $155,000 more.
With those deals and our upcoming one, the developer is Alfredo Aleman and his Grupo Los Pueblos. They are Panama's most dynamic and successful developers. Alfredo's grit, drive and commitment to excellence are added advantages to his lineage. He was born into one of the country's most successful business dynasties. His group has an incredible and lengthy track record of delivering serious projects... commercial and residential.
What I admire most about Alfredo is how, when he decides he wants to compete in a niche, he creates the best community in that niche. That's why his projects sell so fast and values rise so strongly...
As I say, we’re about to get in on a stunning opportunity in Santa Maria at RETA-only pricing no one else will ever see...
Doug will tell you more about what makes this place special when he visits in July.
And I’ll bring you all the details of our upcoming deal very soon.
Back to Portugal and Beyond the Border
A week from tomorrow, I’ll touch down in Porto and take the hour drive to Caminha in Portugal’s far north. Yes... I was there a month ago. And I’ll be back again for much of August.
This opportunity is that strong and urgent. Caminha is stunning... wild Atlantic beaches, charming old town, glass-flat lagoon waters, pine forests, vineyards... gardens that explode in fruit and color.
It’s a special place... and most importantly, a special place that’s easily accessible but until recently has been totally overlooked by the affluent vacationers and second home owners that have been panning out across Portugal.
Late last year, my wife and I bought a 5,000-square-foot mansion with awesome views for €410,000. Deals like this are hard to find a few short months later. Caminha is getting on the radar of sophisticated early-stage pioneers. The balance is shifting... more buyers... fewer homes... things are flipping.
This year I ranked Caminha as the best place on Earth to buy real estate. It will struggle to hold its spot... not because it’s getting less desirable... but because the world is starting to catch on how desirable it is, driving value higher. I’ll be there to see how we can squeeze the most out of the latter stages of this optimal buying moment.
And I have some personal business to attend to...
Our home had been meticulously renovated by a Spanish couple who lived there for nine years. They curated and cared for the contents, furniture and antiques that the original owner had brought from Brazil in the late 1800s. The home was move-in ready... but not quite to our taste. What started as a kitchen remodel morphed... then bathrooms... and in the end a cosmetic re-do of all of the interior.
We’ll be there to meet our interior designer and project manager and check in on what I hope will be near-finished progress. The team and the client (us) are all on a deadline... August is holidays. They will want to be done. And my sister and her family are visiting in August, so we hope to have all parts of the home functioning by then. One of the appeals of this property is that the ground floor is a self-contained three-bedroom apartment. Perfect for guests. And for renters...
The rental season here is short but strong. A rental manager I have spoken with tells me it could rent for €600 a night in those peak summer months. But given we are decorating and furnishing it as a home, not a rental, we are hesitant about renting. That’s what got me thinking about the great big house-swapping opportunity.
Meantime...
The world keeps turning and the entire team here at RETA is looking for the next Caminha, and the next Cabo and the next Dubai...
It looks like I won’t have far to go for the next Caminha. It’s in another country... but I can see it from my house. Just across the water is Galicia, Spain. My home looks across towards a listed-for-sale property, a stunning, 5,970-square-foot historic mansion... right on the border of Portugal and Spain... with incredible views of the water... for just $104 per square foot.
Listing here.
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