Panama: Value of Construction Up 15%

Between January and August this year, the value of new constructions in the country amounted to $651 million, which is 15.5% more than in the same period in 2013.

Monday, October 27, 2014

In the first 8 months of 2014 $651.5 million was reported in real estate investment, focusing on the areas of Panama north, east and west, particularly in the districts of Arraiján and La Chorrera.

Katherine Shahani, president of the Panamanian Association of Brokers and Housing, told Panamaamerica.com.pa that "... the growth in the country, specifically in the northern sector, is due to the fact that a significant part of the population works in the province of Colón and the outskirts of the capital towards the sector of Chilibre and Las Cumbres, which has made them look for places to live which are near their work. "

Yorlenis Taylor, business manager at Amarilo Panama, added "... This is driven by the fact that in the center of the capital there is no land for the development of neighborhoods, which forces developers to seek land in the suburbs. "



More on this topic

Panama: Building Permits Up 17%

May 2014

In the first three months of the year the value of requests for building permits amounted to $479 million, with the district of Panama being the area with the ​​greatest concentration of projects.

Projects that have shown the greatest amount of dynamism in the first quarter are in the non-residential category, for which the value of building permits submitted was $271.9 million, 62.5% more than in the same period last year.

Housing Fair in Panama in 2014

September 2013

The Panamanian Association of Realtors will be holding a housing trade fair from January 29 to February 2, 2014, in which they expect there will be transactions of $150 million.

"Housing fairs have become the best commercial showcase for those wishing to acquire their own home in Panama ..." reported Panamaamerica.com.pa.

Panama: Real Estate Developments Need Drinking Water

July 2013

The lack of government planning for the water supply is affecting the development of real estate projects.

According to Guillermo E. Quijano Jr, president of Grupo Unesa, real estate development in the country depends on whether there are water services in the area where you want to build.

Panama: Social Housing Building Stopped

June 2013

The increase of more than 5% in the cost of construction and the revaluation of land in the capital, has made the social housing segment unprofitable for builders.

"In its projections for 2013, the National Housing Council (Convivienda) a guild that brings together the leading companies involved in the construction of family units will build 8,206 dwellings (houses and apartments) with a total investment of approximately $800 million. In this calculation there are no projects below the $35,000 mark", reported Prensa.com.

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