The Reverted Property Unit will be auctioning lots in August for residential or commercial development in Gamboa, Margarita, Davis and Espinar, in the Atlantic sector and in Farfan and Ancon on the Pacific.
From a statement issued by the Ministry of Economy and Finance:
The demand for land for crops and property development has raised prices in most productive areas.
In cities such as Estelí, Matagalpa and Chinandega, the economic boom has driven up the price of land for farming and for building residential and commercial properties. According to Ricardo Melendez, chief of the Chamber of Builders, one square yard is trading at up to $300 in those cities.
So far no interested parties have paid the deposit that enables them to bid for the convention center in the next auction scheduled for September 16.
Prensa.com reports: "Everything suggests that the story on that day will be no different. To date, no company has submitted the deposit required for participation in the auction which has a price tag of $124 million. "If there is no interest, the Public Procurement Act states that a third attempt can be made.
Sales of land, reclaimed seabed and land titling are generating increased expectations in the city's real estate market.
Prensa.com reports: "The fertile state lands bordering the Bay of Panama await inevitable changes in light of the real estate boom in the area of Punta Pacifica, Avenida Balboa and the district of San Francisco".
In the evaluation of the bids the potential generation of jobs by the project using the land will be taken into account.
The funds acquired through the sale of the 3,500 hectares will be used to pay more than $17 million of the debt belonging to the cooperative with the Social Security Department.
Although there is no date for the auction of the land by Cooperativa de Servicios Múltiples de Puerto Armuelles (Coosemupar), the director of the Panamanian Autonomous Cooperative Ana Giselle Vallarino said that the money to be paid to the CSS corresponds to nonpayment of worker-employer quotas during the time when the Coosemupar was active.
In the North Pacific of Nicaragua a square meter of land on the beach has a maximum cost of $18.
"Nicaragua is the safest place in Central America and there is great potential to develop the segments of city, sun and sand. We have a lot of ability to grow in those areas which already posses developed infrastructure such as airports and roads", said Sergio Arguello, an official from the Nicaraguan Chamber of Tourism (Canatur).
With a starting value of $5.9 million an area of 5276 square meters will be auctioned on Dec. 6. The piece of land is in the Amador sector and is suitable for tourism.
The auction will be of lot No. 17 with an area of 5276.89 square meters, located in the area of Amador, Ancon, Panama District and Province. The land use is high intensity urban tourism, mixed commercial urban, high intensity.
The valuation of the lots has produced values described by businessmen as "very high".
An article in Prensa.com reports “the most expensive lots are concentrated in the old part of the free zone, with valuations of between $400 and $925 thousand. Te cheaper lots are in France Field, Coco Solito, Coco Solo and the future development area. These areas were built on filled-in sea and mangrove swamps. "
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Reveal Real Estate is dedicated to improving the transparency of the international real estate market in Central America by putting data in the hands of consumers.
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Real City Group is a real estate office, located in San Jose , Costa Rica. We are a excellent resource for Real Estate in Costa Rica . Our expertise covers a wide real estate collection.
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