Those times when real estate projects were selling fast are already in the past. The over-supply estimated by the builders' guild ranges between 500 thousand and 600 thousand square meters, and this situation has generated a kind of competition between the owners of unoccupied properties, benefiting those who are looking for premises, warehouses or residences to rent.

Aldo Stagnaro, president of the Panamanian Association of Real Estate Agents and Promoters (Acobir), explained to Prensa.com that "... The fall in rental prices is happening more in the segment of commercial premises and offices. It has increased oversupply, but demand has not grown in the same magnitude, therefore, owners start a price war and that's where users can benefit."

According to recent calculations, rental prices of commercial and office buildings have dropped between 15% and 20%. On the other hand, a report prepared by CBRE details that at the end of the first six months of 2018, the average requested rents of Class A warehouses fell slightly from US$8.95 per m² per month to US$8.40 per m².

Also see "Industrial Warehouses: Lower Rental Prices"

Stagnaro explained that "... Hopefully those who rent at a lower price, also transfer that benefit to consumers, lowering costs in restaurants and services. That would help the economy to activate."

About the supply of apartments, CBRE reported that at the end of the first half of 2018 the inventory of apartments in the country's capital amounted to 17,871 units, 5% more than reported at the beginning of the year.

Source: Prensa.com

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