Increase in Construction Costs in Guatemala

The increase of 13 % compared to 2012 is mainly due to changes in international prices of construction materials.  

Thursday, November 28, 2013

In the capital city the cost of construction of an apartment building is about $1267 per sqm, while in the metropolitan area and its surroundings the cost is $1,169 per sqm." In relation to 2012 , the increase is 13 %, because in that year, what was paid in the city was $1,112 and $1,042 in the surrounding area", reported Prensalibre.com.

As for construction of condominiums, the increase was 19%. The price stands at $909 in the city and at $686 in the metropolitan area.

According to Juan Carlos Salazar, manager of Global Inspections, one of the factors causing the increase in costs is the increase in the international prices of construction materials .

For 2013 it is estimated that 15,000 homes will be sold, of which 4000 will be in high rise buildings and 11,000 will be in condominiums. This would mean a reduction of 20 % compared to the 18 thousand homes sold last year.



More on this topic

Real Estate Market: Ambitious Projections for 2018

April 2018

This year in Panama realtors expect to sell 9,000 homes and generate $1.146 billion, which would be a 34% increase compared to the value sold last year.

The National Council of Housing Promoters (Convivienda) plans to sell 8,958 units of housing nationwide this year, after having sold 7,219 units last year.

Guatemala: More Real Estate Development in the Capital

September 2014

The increasing preference for residences in central areas of the capital is generating business opportunities for developers in areas which have not yet been exploited.

Real Estate companies say that although there is a good distribution of the supply of high rise and traditional houses in the capital, "... development is needed of zones 3, 6, 7, 8, 9 and 12, which have access and services."

Panama’s Residential Market

December 2012

The residential market in Panama City remains stable, with slightly increased demand for Class A buildings at 74%, up 2% on the prior period.

CBRE Panama submitted its report on the housing market for the first half of 2012:

The residential market in Panama City has remained stable in the first half of 2012, showing an absorption rate of 74% in Class A buildings compared to 72% in the previous period.

Vertical Housing in Guatemala

July 2012

An increase in car traffic has contributed to the trend of living in apartments in buildings located near workplaces.

Real estate developers are backing the construction of apartment buildings in the metropolis, offering proximity to work places, avoiding long commutes.

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