Honduras: Rent in Free Trade Zone Decreases

The National Port Authority announced a drop in warehouse rental rates in the Puerto Cortés free trade zone.

Tuesday, May 26, 2009

Roberto Crespo Montalbán, general manager of the National Port Authority, reported that the measure is aimed at encouraging the entry of new firms, as well as the reopening of activities by those that closed.

Latribuna.hn reported the assistant manager’s comments: "Companies operating in the free trade zone made every effort to find alternatives so that the recession does not continue to affect entrepreneurs, reason for which they not only negotiated rental rates, but also public service rates ... the reduction in rental prices for ships belonging to the Port Authority ensures job stability for workers in companies operating in the free zone."

More on this topic

Panama: Costa del Este Becomes Corporate Center

April 2013

The mini city has become a target for locating companies in offices which now cost $3000 per square meter.

According to an article in Prensa.com "Up to the second half of 2012 there were 139 shops in Costa del Este, with an unemployment rate of 2.23%, one of the lowest in the capital, according to figures from CBRE Panama, consultant real estate. "

CFZ Establishes Maximum for Rent Increases

October 2012

Users of the Colon Free Zone in Panama are no longer required to purchase the lot which they currently lease and if they choose to continue renting the amount charged in the first five years can not exceed 10% per year of what they currently pay.

At the end of the first five years, rents can be updated every two years according to the consumer price index, indicated the Zone's Users Association (AU in Spanish).

ZLC Businesses: Buy or the Rent Goes Up

March 2012

Even though last year the rents paid by users of the Colon Free Zone (ZLC in Spanish) rose by 20%, President Martinelli has said that they pay very little in relation to their earnings.

If the sale of the lots in the ZLC does not go well, the alternative being studied by the government is to raise the rents.

Panamanian Rental Demand Down by18%

May 2009

During the first quarter of 2009, demand for rentals fell by 18% when compared to the same period last year.

Norma Thrush, chairperson of the Property Owners Association of Panama (API), told Prensa.com: "I think things might improve. We are not complaining thus far. Thousands of buyers were affected because they bought during the height of the building boom in order to resell or rent."

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