The segments of industrial warehouses, and office warehouses, where those that provided the most dynamism in the industrial real estate market in the Greater Metropolitan Area of Costa Rica at the end of the second quarter.
From the quarterly report by Colliers Costa Rica entitled "Industrial and Logistics Property Market":
It has been reported that the vacancy rate in the office segment in the real estate market now exceeds 10%.
Nacion.com reports that "... an analysis by Colliers International shows that the office market is undergoing a period of greater caution, since the vacancy rate is above the 10% threshold for defining market saturation."
Despite the slowing of the pace of construction of industrial parks and warehouses in the second quarter, rents remained stable.
Capital.com states that"... at the end of the second quarter of 2016, construction of industrial parks continued cautiously, going from 350,759 to 317,535 square meters. And, despite the entry of new warehouse spaces in the market, availability remained stable at 7.2%, confirming a high demand."
Increases in the average price of office space have been recorded due to less construction of these types of buildings in the first half of the year.
Figures from a report by CBRE Panama cited by Capital.com.pa indicate that construction has declined in this segment due to increases in the price of materials and high utility rates, leading to the average price of "... class B buildings rising from $2,300 to $2600 per square meter."
An Environmental Impact Study has been presented to build a residential complex consisting of 144 apartments and 100 single-family homes in Pedregal, district and province of Panama.
The Environmental Impact Assessment (EIA) submitted to the Ministry of Environment in March 2016 by PROMOTORA PANAMA CENTRO, S.A., indicates that the development will be called "PEDREGAL FASE 1" located in the town of Pedregal, district and province of Panama .
Investors and entrepreneurs in the global real estate sector will be meeting from 21st to 26th of May in Panama City to discuss issues such as project finance and marketing trends.
The World Congress of the International Federation of Real Estate Professionals (FIABCI) will be held this year in Panama City, and is expected to include the participation of representatives of companies linked to the housing market from all continents.
Plans have been drawn up to build in the center of San José, Costa Rica, a complex made up of three towers, each with 21 floors, and spaces for residential, commercial and office use.
The Environmental Impact Assessment (EIA) submitted to the Technical National Environment Secretary in December 2015 indicates that the development is called "Condominio Residencial Horizontal Vertical Mixto", and will be located in the district of Catedral, province of San José, at the site of the former premises of the company Dos Pinos.
The value of property in areas such as Amador, Balboa, Clayton and Albrook, has registered increases of up to 300% in the last ten years.
The proximity to the city, the vegetation surrounding the area and the security offered are some of the factors which have increased the value of these areas. For example, in Clayton, an apartment now worth about $160,000, cost about $35,000 ten years ago.
Latinamerica Title Co. is an agent of Chicago Title. Our company offers customers the most comprehensive and accurate title and escrow related services in the region, enhancing real estate transactions with a group of services that minimize the risk of investing in a foreign country.
Operates in Costa Rica and Panama
Phone: (506) 2256 9697 - (507) 830 5500
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.
Operates in Costa Rica, Nicaragua and Panama
Phone: (302) 353 4505
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Comercialization of Urbanization
Commercial Mall construction and Comercialization
Construction and comercialization of Industrial and logistic buildings.
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