Real Estate Market: Ambitious Projections for 2018

This year in Panama realtors expect to sell 9,000 homes and generate $1.146 billion, which would be a 34% increase compared to the value sold last year.

Thursday, April 12, 2018

The National Council of Housing Promoters (Convivienda) plans to sell 8,958 units of housing nationwide this year, after having sold 7,219 units last year.

See also "Central America: $4 billion for Residential Projects"

Regarding the units sold in 2017, 78% corresponded to preferential interest homes, valued up to $120 thousand, 19% corresponded to homes with prices of $120 thousand to $350 thousand, and 3% to units with prices over $350 thousand.

Last year, most of the homes sold corresponded to those located in the price range from $65 thousand to $80 thousand, followed by units whose prices range between $95 thousand and $120 thousand. reports that "... During the presentation of the results for the year 2017 and projections for this year, Elisa Suárez de Gómez, executive director of Convivienda, insisted that 'it is unsustainable' to build in the price range between $40 thousand and $65 thousand, 'it is impossible to obtain cost effectiveness'."

See full report by Convivienda: "Results 2017 and projections 2018" (In Spanish).

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More on this topic

Housing Market in Panama: What to Expect in 2017

March 2017

This year the union of housing developers plans to build 10,958 houses and apartments and generate sales of $979 million, 23% more than in 2016.

Figures from the National Council of Housing Promoters (Convivienda) indicate that in 2016, 8,864 houses were built and sales of $793 million were made, an increase of almost 8% compared to 2015. 

Panama: Disparity in the Residential Market

February 2017

Real estate companies have reported a glut in the market for houses with prices below $120 thousand in the capital, while at the same time there is a growing supply of properties priced above $250,000.

The supply of middle class housing in Panama is still insufficient to meet demand, but at the same time the inventory of properties with higher prices continues to grow, but is accompanied by a demand that is not growing at the same rate. A study by Antojo Inmobiliario details that of the 25,724 new homes and apartments unsold in December 2016, 66% were houses with prices of less than $250,000, and 34% were homes priced at above $250,000.

Panama: $180 million Traded at Expovivienda

April 2016

During the event 2,575 mortgages were sold, among which social and middle class housing stood out the most, with prices ranging between $40,000 and $80,000.

The figures provided by the Panamanian Chamber of Construction (Capac) again reflect the growing need for housing that exists in the country, mainly in middle class and lower class segment.

Panama: Housing Market Figures in 2015

March 2016

Out off the 8,232 homes sold in 2015, 76% was sold at prices lower than $120.000, 18% at prices between $120,000 and $350,000 and the remaining 6% above $350,000.

Figures from the National Board of Housing Developers (Convivienda) show that home sales for the year totalled more than $900 million.

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