Panama: Growing Demand For Beach Apartments

An inventory of apartments on the beach front could grow from 400 to over 1,600 units in three years, thanks to demand from domestic and foreign buyers.

Tuesday, March 8, 2016

Buying an apartment on the beach is not a something that only foreigners do in Panama. Although prices range between $200,000 and one million dollars, Panamanians in the high and upper middle class brackets are also positioning themselves as buyers of such properties, according to studies cited by Panamaamerica.com.pa. Important sectors of Punta Chame to Playa Blanca, Farallon, Santa Clara, El Palmar (Hato River) and Rio Mar (San Carlos).

See: "Panama: $58 million in Residential Projects"

Panamaamerica.com.pa reports that "... there are about 395 beach apartment units with strong demand demonstrated by sales during the planning and construction phases in three districts, amounting to 46.5%, and is expected that over the next three years, the inventory will increase to 1,632 units. "

"... The preferred typology for condominium projects is between 8 and 25 floors, in order to maximize the views and make the most of the land. In these cases, the residential units range from one to three bedrooms, with sizes ranging from 80 to 200 square meters (m2). Along the Pacific coast there are a lot of active residential projects, both those that have been completed and those under construction."

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More on this topic

Real Estate Market: Prices in the New Reality

May 2020

It is predicted that in Panama due to the health and economic crisis the inventory of available properties will increase, a situation that will put downward pressure on property prices and rents, affecting mainly the office and commercial space segment.

Directors of the Panamanian Association of Real Estate Brokers and Developers (Acobir) estimate that in the context of the health crisis resulting from the covid-19 outbreak, sales or rental prices in the local market could contract between 20% and 25%.

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: Real Estate Boom in Suburbs of Capital

July 2014

The increase in residential real estate projects around the center of Panama City has doubled land prices in some areas in the space of five years.

The real estate boom experienced in Panama City can now be seen in the prices of residential projects in areas previously considered as "suburbs" where residential real estate developments are priced at over $80,000.

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.

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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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