Real Estate Prices in Panama Drop

Prices for properties in the main zones of Panama City dropped in 2009 by between 15% and 20% compared to those of 2008.

Monday, June 8, 2009

Figures from the Department of Economic Affairs at the Chamber of Commerce, Industries, and Agriculture of Panama, which were published at, indicate that “in 2008, the cost per square meter for an apartment on Balboa Avenue was, on average $3000, but in 2009 it fell 20% to $2500; Similarly, in San Francisco, the cost per square meter was $1,600, 15% less than in 2008."

Also, the demand for construction permits in the City of Panama went from $130.7 million in January 2009 to $55.1 million in February of this same year.

More on this topic

Land Prices Rise in Nicaragua

March 2014

The demand for land for crops and property development has raised prices in most productive areas.

In cities such as Estelí, Matagalpa and Chinandega, the economic boom has driven up the price of land for farming and for building residential and commercial properties. According to Ricardo Melendez, chief of the Chamber of Builders, one square yard is trading at up to $300 in those cities.

Low Cost of Land Attracts Investments

February 2013

In the North Pacific of Nicaragua a square meter of land on the beach has a maximum cost of $18.

"Nicaragua is the safest place in Central America and there is great potential to develop the segments of city, sun and sand. We have a lot of ability to grow in those areas which already posses developed infrastructure such as airports and roads", said Sergio Arguello, an official from the Nicaraguan Chamber of Tourism (Canatur).

Caldera Highway Raises Nearby Land Value

March 2010

The price of the average lot next to the recently inaugurated highway increased between 25% and 60%.

Realtor Jorge Rosales reported that some plantations that used to be sold at $9 per square meter have doubled their value ($18 per square meter).

El Financiero analyzed several aspects of this situation, including the real estate and the construction materials markets.

Luxury properties auctioned in Panama

February 2009

A specialized company is setting up a portfolio of condominiums and luxury homes for auction in April, in response to the drop in the demand for housing.

The slowdown in the sale of properties at the various new housing projects in Panama has investors worried; however the auctions provide an alternative with which they can, at the least, recover a part of their investment.

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