There’s a Panama City real estate play delivering among the strongest and most reliable rental returns I have ever seen.

The International Monetary Fund’s chief economist calls it an “emerging China.” Citigroup calls it “the New Powerhouse of Southeast Asia.” Major multinationals like Intel and Ford are lining up to invest: Vietnam is back on the world stage…this time for all the right reasons.

Across golden sands, the waves sing of summer’s promise: a whispered lullaby of sizzling sunshine and balmy evenings. The promise is always redeemed. Summer means fishing trips, excursion boats and harbors jostling with white-sailed yachts. Piazzas erupt with parties...with fireworks jeweling the midnight sky...with lengthy meals enjoyed al fresco.

While the U.S. market whimpers, now is the time to buy a house or condo in roaring Latin America. Properties in Puerto Vallarta, Mexico, for example, have appreciated in price almost 80% in the last five years.