Rent increases in Panama
In the industrial segment, the cost per square meter has increase dramatically.
Monday, December 15, 2008
According to CB Richard Ellis, the price per meter in 2007 was between 2 and 4 dollars while in 2008 it is now between $5 and $8.
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.
After repealing the law allowing the sale of land, the government is intending to put up rental prices.
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.
Finding apartments with adequate prices, safety and that are close to services, has become a difficult task.
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