Panama Company Combines Tourism and Real Estate

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A travel and real estate company is offering cash back incentives to vacationers who purchase real estate in Panama. Great deal or just a lead in to a high pressure sales pitch?

Through informative tours on living, investing and retirement they get a real feel for the country. If after this 'warts and all' experience they still fall in love with the country, there is a good chance they will be happy as investors here. Even if they do not decide to invest here, we make sure they have a great time and lasting memories.

New World Real Estate recently announced a promotion offering vacationers up to $1,000 in refunds on trips booked through its parent-company Panama Luxury Vacations (PLV) if they choose to purchase real estate in Panama. This marks the latest in a series of initiatives designed to blur the line between tourism and real estate investing, a trend that owner Casey Halloran believes is catching on around the globe.

Trends show that more and more U.S. real estate investors and retirees are moving a portion of their portfolios overseas. Most of them come to know their overseas investment locale of choice as tourists. As more PLV clients began to express an interest in purchasing property in Panama, the creation of New World Real Estate became the obvious next step to capitalize on that trend, Halloran said. While the two companies operate separately, they do collaborate for those clients who choose to mix business with pleasure.

"I came up with the idea when I figured out Four Seasons is a real estate company," Halloran said. "First they win the hearts, then the minds of their clients."

"The difference," he said, "is that Four Season finds its plot of paradise and then walls out the surroundings. We hope to do just the opposite and incorporate the exterior."

The company focuses on selling the lifestyle, climate, history, culture, or Panama as a whole, rather than one specific chunk of land. "We're looking for clients who get it," Halloran said. They offer real estate tours, which take an average of one day of the entire vacation, to educate their clients about the realities of property ownership in the country.

Clients are offered a driver and a guide, versed not just in Panama real estate trends and particularities, but also in the history, culture and geography of the country. "Once again, we try to blend the seams," Halloran said.

For many, the idea of a marriage between tourism and real estate stirs up images of high pressure timeshare pitches, but Halloran said he believes that the two can be combined tastefully.

"Clients who come on vacation with us receive an honest and thorough introduction to Panama," he said. "Through informative tours on living, investing and retirement they get a real feel for the country. If after this 'warts and all' experience they still fall in love with the country, there is a good chance they will be happy as investors here. Even if they do not decide to invest here, we make sure they have a great time and lasting memories."

So far, three New World Real Estate clients have received the promotional rebate, or specifically, a refund for the cost of the real estate tour, and five percent of the company's commission up to $1,000.

About New World Real Estate - New World Real Estate began as a travel agency founded in 2003 by partners Jim Procter and Casey Halloran. These two "gringo" expats had a combined 40 years experience in Costa Rica before joining to expand Halloran's travel agency to Panama. They formed a real estate division in 2005 as a complementary service and have since opened three offices throughout Panama. The company is committed to providing clients objective, honest and timely real estate advice.

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JIM CHRISTIAN
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