Panama: Property Register falls 9%

During the first eight months of the year, 98,769 properties were registered, 9% less than those reported in the same period of 2017.

Wednesday, October 10, 2018

According to the most recent figures of the General Comptroller, between January and August 2017 and the first eight months of this year, vertical properties reported a decrease of 11%, falling from 84,627 to 75,036.

For horizontal properties, no significant variations were reported for the periods in question, since 23,678 were recorded in 2017 and 23,733 in 2018.

In general, the number of properties fell 8.8% from 108,305 to 98,769. These figures correspond with the decline that has been reported for months ago, in the number of square meters built in the country.

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More on this topic

Weak Demand for Horizontal Properties

September 2018

Between the first seven months of 2017 and the same period in 2018, the registration of new horizontal properties went down by 19% in Panama.

According to figures from the Comptroller General of the Republic, new horizontal properties registered during the period from January to July reached their highest level in 2017, when 9,083 were reported, 19% higher than the 7,373 registered this year.  

Increased Supply of Commercial Premises

August 2018

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.

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.

Costa Rica 2014: Recovery in Construction Sector

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The registration of professional responsibility for construction plans increased by 8% compared to the previous year, though total figures are still below the pre-2008 crisis numbers.

The commercial sector recorded 1.5 million square meters of construction being processed nationwide, with the areas of Escazu, Santa Ana and Belen reporting the highest number of procedures.

Costa Rica: Real Estate Funds Buying Again

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The $90 million invested in property in 2012 represented an increase of 86% compared with purchases made during 2011.

According to the Superintendency of Securities (Sugeval), until the last half of May this year, real estate portfolios had under their administration $871 million in net assets (including properties and some securities), 7% more than in the same period in 2012.

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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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