Increased Supply of Commercial Premises

In the first half of the year, the commercial supply in Panama reached 1.8 million rentable square meters, 4% more than was reported in the same period in 2017.

Friday, August 10, 2018

According to a report from CBRE Panama, in the first six months of the year a total of thirteen Class B + and B sites entered the market, totaling some 47,000 m2 of commercial space in Panama City. These projects registered an occupancy rate of 60.7%. As a result, average rents requested continued to decrease, with supply exceeding demand for existing available spaces.

See also "Shopping Centers to Be Constructed in Central America"

The report adds that from January to June of 2018 the rate of non occupancy of the rentable commercial spaces remained at 17.2%, when looking at all of the classes in the commercial market, in the City of Panama.

The document outlines that within the City of Panama the submarket of the Eastern Periphery still had the greatest commercial development with a total of 691,418 m2 (this represents 36.9% of the total market), with two Class A shopping centers, eight commercial Classes B + and 39 Class B commercial spaces. Followed by the Reverted Areas and North Peripheries sub-markets, each with more than 235,000 m2 of construction.

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More on this topic

Industrial Warehouses: Lower Rental Prices

September 2018

Between January and June the average rental price per square meter requested from warehouses in Panama City dropped from $8.95 to $8.40, due to a slight increase in the supply of available spaces.

According to a report prepared by the CBRE, at the end of the first six months of the year, average rents requested from Class A warehouses decreased slightly from US $8.95 per m² per month, to US $8.40 per m². 

Office Rentals Falling

June 2018

A decline in the arrival of new international companies to the country could be one of the reasons behind the increase from 21% to 24% in the availability of office space in the Panamanian real estate market.

According to a report from CBRE Panama, total availability in the office market increased during the second half of 2017, going up by 2.5%. The document adds that the office market closed the second semester with a total inventory of 1,661,234 m2, after making some adjustments of surplus stock and a demolished building. 

Panama: Growing Demand for Commercial Property

June 2014

Specialty and department stores are the entities demanding the most space in commercial centers and malls in the capital.

The vacancy rate for Class A commercial property fell by 7.4% in the first half of 2013 to 4.8% in the second half of 2013, due to the fact that the rise in meters available in major shopping centers has been absorbed at a good pace, with many of those spaces being leased before the works are finished, reported a study by the real estate firm CBRE Panama.

Real Estate Market in Costa Rica in June 2013

November 2013

2013 has confirmed a trend toward mixed-use projects with spaces for various uses, especially commercial, residential and office space.

The commercial property market has shown an increase in supply of 9.8%, totaling 884,135 m². Among the activities that have contributed the most to the dynamism of this market is the opening of fast food restaurant chains and projections are that it will continue to increase.

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World Panama Real Estate Marketing

Organization that operates in Panama and Panama.
Phone: (507) 3454542

World Panama real estate marketing promotes city and beach property listings for sale or rent with international syndication to more then 80 real estate web portals worldwide.

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