The dynamism of the construction sector experienced in 2013 will continue into 2014. The development of residential, commercial and megaprojects developed by the State such as the Metro, have propelled the sector.

Data from the National Institute of Statistics and Census (INEC) reveals that in 2013 "the total value of construction and additions in the country was $1.552 billion, while in 2012 it was $1.197 billion.

The president of the Panamanian Chamber of Construction (CAPAC), Enrique Asensio said that during the year just concluded the predominated type of construction was prime interest housing, because of the increase the range (houses priced up to $120,000), as well as shopping centers.

Source: Panamaamerica.com.pa

More on this topic

Trends in Housing Supply in Panama

November 2013

20 years ago for every apartment for sale in a high rise building there were 9 houses on offer, whereas today the ratio is 50-50.

The construction of residential buildings in the city has been driven by the increased purchasing power of immigrants and the integration of the underground transport system.

Growing Investment in Housing in Panama

November 2013

Although during the first six months of 2013 building permits decreased by 18% compared to 2012, residential investment grew by 27%.

The town of Juan Diaz had the strongest growth with 24% of total investments in the district of Panama. Standing out the most in this area was the construction of houses, apartment buildings, businesses and other things.

In Panama, Investment in Construction Down 21%

March 2012

During 2011 the total value of approved permits for building was $1.029 billion, 20.9% less than during 2010, when it was $1.329 billion.

Gaston Regis, president of the Panamanian Chamber of Construction (CAPAC), estimates that changing market conditions over the last 3 years and a subsequent rearrangement are some of the factors causing this decline in the value of building permits.

Panama: Building Permits Show Reduction

September 2011

Between January and July the value of approved constructions fell by 14% compared to the same period in 2010.

The most valuable investments are also those that have shown the greatest decline, especially in the case of residential buildings.

Data from the Panamanian Chamber of Construction show that the largest reduction has been in high-value projects, showing that the amount of building permits issued in the period under review fell by $78 million compared to the same period in 2010 .