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Real Estate expected to rise 18% in Panama

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 Panama: Building Permits Rise 60%
In the first quarter of 2013 the value of building permits totaled $156 million, with homes leading the growth, followed by commercial buildings.
Tuesday, May 6, 2014


Specialists in real estate and real estate industry players have repeatedly pointed out that the construction of homes, mainly those under the preferential interest scheme, is on the rise and new market niches for housing are opening up.

" ... Similarly, the value of non- residential construction continues to increase. The latest statistics from the INEC indicate that the increase is of 60.7 % in March of this year compared with the same period in 2013. The figure this year totalled $63.3 million , while last year it was $39.4 million. With regard to the most dynamic districts in March 2014, Panama (value amounted to $106.6 million ), San Miguelito ($20.8 million) and Arraijan ($10.9 million) topped the list. "

"The growth of real estate this year recorded by the INEC is also consistent with the projections of the National Council for Housing Developers (Convivienda) , presented by the executive director of the union, Elisa Gomez, also in March. This real estate guild expects to increase its sales by 18% selling 9,773 homes."

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