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Panama's Trump Ocean Club reports top sales but questions yet to be answered

Wednesday, September 8, 2010

Eighty-five percent of the 905 units in the Trump Ocean Club have been sold, according to the latest statement from the developers of the closely watched project in Panama City.

For the first half of 2010, the development reported $24 million in sales, including a bulk sale of 27 units for $6.2 million. That would put the average price for the 27 condos at $230,000, which is low for a development considered at the top end of Panama City's market.

But the big unanswered question for the development: How many of the buyers will actually close on their units, especially those who paid top dollar in the boom years?

Original source: Real Estate Channel