NBC29New Caribbean Development Makes Oceanfront Vacation Home Ownership Affordable

BOCAS DEL TORO, Panama, Nov. 10 /PRNewswire/ -- With everyday stresses and new challenges brought on by the faltering economy, Americans need to have a place they can escape to and call their own. While many people look at vacation home ownership as a luxury and unaffordable during a recession, one new apartment home development in Bocas del Toro, Panama, makes owning an island oceanfront vacation property more affordable than ever.

Located in the calm waters of the southern Caribbean Ocean, each Vista Paraiso vacation apartment home offers incredible water views, no maintenance, and no property taxes. Bocas del Toro also boasts something most American oceanfront vacation homes can't: no hurricanes. Because Panama is located below the hurricane belt, there hasn't been a hurricane ever in the country's recorded history. Glenn Lodwig, CFO of Coral Sands Development, Inc., says that's just part of Bocas del Toro's stress-free attitude.

"The motto of the islands is 'tranquilo,' which literally means 'peaceful,'" says Lodwig. "But if you come to the islands, you eat the food and you meet the people, you can tell it's not just a slogan, it's a lifestyle. People are looking for an affordable vacation escape and that's exactly what Vista Paraiso is."

In addition to word of mouth interest from excited and satisfied vacationers, Bocas del Toro has drawn attention from several major magazines, including Reader's Digest, Forbes, and Fortune, which calls Panama "one of the top 5 places in the world for retirement living."

The culture also represents a feeling like home for most Americans because the preferred currency is the Dollar and there isn't any anti-American backlash to be found.

"We love everything about Panama, especially Bocas del Toro," says John and Jean Wheaton of Colorado. "It's a beautiful place with the most friendly and kind people we've ever met. To have the opportunity to invest in a place that's at the very beginning of its growth curve is something we've wanted to do for years."

Vista Paraiso is now accepting deposits in advance of its anticipated 2010 grand opening. Prices start at $99,000 for full ownership, and the property also offers an "apartel" income opportunity for owners to rent out their vacation home when they aren't using it themselves.

For more information, please visit www.escapetoasimplelife.com

About Vista Paraiso: Vista Paraiso is a vacation apartment home development located on the island of Isla Colon in Bocas del Toro off the coast of Panama and Costa Rica in the beautiful Caribbean Sea. Set to open in 2010, the property offers full ownership of a beachfront vacation home starting at $99,000.

SOURCE Vista Paraiso