Between the first half of 2015 and the same period in 2016 the average selling price per square meter rose from $2,850 to $3,100 in Class A projects.
Data from CBRE Panama reported on by Capital.com.pa reflects the growing demand for residential projects in the capital and its surrounding areas.In the case of Class A residential projects, in the first half of the year an increase was recorded in the average price per square meter, while in the segment of class B projects, stability is reported in prices,"... underpinned by a low availability. "
In the first quarter 1455 new works started construction processes in the district of Panama, up 8% compared to the same period in 2015.
From the census report on Construction of Buildings by the Comptroller:
For the first quarter of 2016, the Census of Construction of Buildings recorded 1,455 new works which began the construction process in the district of Panama, an increase of 7.9 percent compared with the same period last year, which included 1,348 works ; in contrast, in the district of San Miguelito the number of works was 57 decreasing by 5.0 percent compared with the previous year.
Construction has been announced in San Jose, of a mixed-use complex that includes a tower containing 300 apartments spread over 42 floors, an office center and a shopping area.
The project announced by the company Hernán Solís will be developed in Sabana Norte, and the start of construction is scheduled for the first half of 2017.According to the company's estimates, provided to Nacion.com,"... the investment will be around $100 million."
Between January and May this year $97 million was awarded in loans for housingconstruction, 17% more than in the same period in 2015.
The monthly report from the Salvadoran Chamber of Construction (Casalco) indicates that loans granted for home purchases rose by less than 1% in the period in question, going from $133.9 million to $134 million.
The value of construction in the first quarter fell by 10% compared to the same period in 2015, registering an increase of 13% in the value of residential construction and a drop of 26% in the non-residential category.
The 13% increase in the value of the buildings, residential additions and repairs registered between January and March was not enough to offset the decline of 26% in the value of non-residential construction. Data from the Office of the Comptroller General of Colombia shows a total drop of 10% in the value of the buildings between the first quarter of 2015 and that of 2016.
The inventory of apartment buildings and individual houses recorded an increase of almost 7% in the third quarter versus the same period in 2014.
From the Quarterly Report by the INEC:
The Census of Construction of Buildings, during the third quarter of 2015, investigated 1,325 works, 6.8 percent more than in the same period last year. The amount of constructed area was 145.266 square meters, of which 89.8 percent corresponded to the district of Panama and 10.2 percent to San Miguelito .
While in the US the number of man hours needed to build a house is 9.4 hours per square meter, in Costa Rica it takes between 40 and 60.
Low labor productivity, on top of the cost of building materials, social charges and high costs of other materials such as energy, are preventing firms from being more competitive in an industry where both end house prices for completed works and gray works, exceed those in neighboring countries.
Comercialization of Urbanization
Commercial Mall construction and Comercialization
Construction and comercialization of Industrial and logistic buildings.
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