Panama: More Flexibility Demanded in Rent Law

Real Estate Agents demanded the Ministry of Housing greater flexibility to be able to execute evictions due to payment defaults.

Wednesday, February 23, 2011

The demand for rental apartments Panama City has increased over the past two years due to the arrival of businessmen and foreign investors.

Roberto Berástegui, vice president of the Property Owners Association in Panama (API), group focused on cheaper apartments, says they “cannot meet demand due to the current legislation", reported Prensa.com.

More on this topic

Shortage of Apartments in Panama

May 2013

Finding apartments with adequate prices, safety and that are close to services, has become a difficult task.

In the last three years in Panama City rents have risen in price by 50% and 60% due to the growth in the country, the influx of foreigners and the construction of new infrastructure.

Rentals in the Colon Free Zone

October 2012

After repealing the law allowing the sale of land, the government is intending to put up rental prices.

"Yes, the rents are going to be raised, we said that from day one," said the Minister of Economy and Finance, Frank De Lima, whose aims is that users of the free zone will contribute the more than $27 million per year that are currently paid, towards improvement plans in the province.

Honduras: Rent in Free Trade Zone Decreases

May 2009

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

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.

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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