Over-supply in the Real Estate Market?

Reports state that the available supply of office space in square meters in Panama City grew from 18% in July of last year, to 21% in the same month in 2017.

Monday, November 6, 2017

A study reported on by Elcapitalfinanciero.com indicates a sustained increase in the available supply of office space in the Panamanian capital, which went from 1,669,189 square meters in July last year, to 1,629,504 in the second half of this year. 

See: "Construction projects planned in Panama"

"... The report  by CBRE Panama shows that by type of market, Class A and A + buildings also increased their availability, going from 24.9% in the second half of 2016 to 27.8% in the first half of this year. A similar situation was seen with class B buildings, which also saw an increase in their availability, going from 12.2% in the second half of last year to 14.4% for the first half of 2017.  Meanwhile, in the first half of 2017, the average price requested for class A and A + buildings maintained the sale range of between $2,600 per square meter and $3,300 per square meter per month. Class B buildings remained at $2,600 per square meter per month."

See also "Costa Rica: Good Figures for the Office Market"

Elcapitalfinanciero.com reports    "...The net absorption -that is the calculation which shows the change or difference of the inventory occupied by one period to another - was negative in the office market in the first half of this year. Class A and A + buildings recorded an absorption of 6,115 square meters and class B buildings, a total of 20,032 square meters."

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More on this topic

Panama: Soaring Prices in Residential Market

August 2016

Between the first half of 2015 and the same period in 2016 the average selling price per square meter rose from $2,850 to $3,100 in Class A projects.

Data from CBRE Panama reported on by Capital.com.pa reflects the growing demand for residential projects in the capital and its surrounding areas. In the case of Class A residential projects, in the first half of the year an increase was recorded in the average price per square meter, while in the segment of class B projects, stability is reported in prices, "... underpinned by a low availability. "

Panama: Less New Offices, and at Higher Prices

August 2016

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  "...

Panama: Investment Boom in Luxury Offices Continues

June 2013

During the first six months of 2013, the Class A office market remained highly dynamic, mainly in the Banking area and Costa del Este.

A market study prepared by CBRE Offices Panama, recorded a total of 400,104 square meters under construction in the office market, of which 379,000 are Class A and luxury offices, while 20,685 are Class B and C offices

Office Rentals Up 146% in Panama

April 2010

In the past five years, the average price for renting office space has increased from $13 to $32.

According to company CB Richard Ellis (CBRE), the City of Panama has 810.000 square meters of office space available for rent.

In a report, the company informs that an additional 303.460 m2 will be available for rent over the next two years.

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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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