The commitment to long term rentals instead of vacation rentals, preference for larger residences and innovation in the marketing tools of the projects under development are some of the changes expected in the coming months, which could set a new pattern in the sector.
The health crisis caused by the spread of covid-19 ended up changing consumer habits in all Central American markets.
Shopping centers and office buildings are the main works that are being developed around the suburban runway, along the southern highway in the capital of Nicaragua.
Real estate growth in Nicaragua is occurring in various areas of the country, but especially in the capital and its surroundings. As indicated by figures from the Central Bank's most recent report on private construction, the greatest investment is observed in the capital and its surroundings, and specifically, in developments for the commercial and service sectors.
Preliminary results from the Housing Expo 2017 in Panama show banking transactions worth $95 million.
The goal of the Panamanian Chamber of Construction is to achieve $160 million in transactions and about 40,000 visits.This figure could be reached once the data for Sunday 23 April has been included.
An environmental impact study has been presented for the construction of a 13 story mall and 103 shops in the city Las Tablas, province of Los Santos.
The company GOLF REALTY INC. presented to the National Environmental Authority of Panama an environmental impact study to develop a commercial building on 13 levels containing 103 shops, called Hacienda Plaza.
Following the rise of the complexes that combine commercial spaces with offices and residences, two new projects are being developed west of the capital.
It is expected that the Escazu Village complex will be ready in late 2016, and Las Terrazas Lindora November 2015, two mini-cities which offer housing, retail stores, offices, parks and entertainment areas in the same place.
Development Groups are preparing to build four new high rise luxury apartment buildings in the northwest area of San Pedro Sula.
Private developers announced the launch, in the coming months, of the implementation of high rise construction projects, which will mean an investment of more than $42 million .
"A businessman in construction and infrastructure and advisor to the Mayor of San Pedro Sula, Ernesto Lazarus reported that the minimum investment is $8 million for the construction which is a strong investment in an average of two years during the construction."
Two business groups in the capital are building two projects that combine residential, commercial and office spaces.
The need to diversify risk when selling various types of real estate, and to meet the demand for residential centers where residents have easy access to shops and services, has led to real estate investors to focus on mixed-use projects, which have "everything in one place. "
Shopping centers and hotels in the city and on the coast are part of the new projects planned for this year and 2015.
Four commercial and mixed-use projects are predicted to boost the sector in 2015. These are City Mall, City Place in Santa Ana, Ocean Mall in Puntarenas and Jacó Beach Walk in in Jaco beach. City Mall and City Place are currently under construction and are projected to start operations in the middle of this year.
During 2013 the value of building permits increased by 27%, with projections being that it will keep up the same pace during 2014.
The dynamism of the construction sector experienced in 2013 will continue into 2014. The development of residential, commercial and megaprojects developed by the State such as the Metro, have propelled the sector.
Data from the National Institute of Statistics and Census (INEC) reveals that in 2013 "the total value of construction and additions in the country was $1.552 billion, while in 2012 it was $1.197 billion.
There are plans to build a mini-city on the beach in Puntarenas, two mega projects and 6 other smaller works that represent $211 million in investments.
The three largest projects will be developed by local companies in the province of Puntarenas, in the Central and Garabito cantons. "These, together with six other smaller private works, represent investments of over $211 million and the use of more than 164 hectares of land in the next 15 years," noted an article in Elfinancierocr.com.
The well positioned area of Coco del Mar, in Panama City, will be designated as high density, allowing the construction of residential and office buildings.
The Ministry of Housing and Land Management has made changes to the zoning of the area adjoining via Cincuentenario, between Calle 50 and Calle Republica de la India, changing its classification to RM3-C2, which allows the construction of high-rise residential and office buildings.
In the northwest of the city construction will take place of Ciudad Maya, a luxury residential complex which integrates a commercial area, a corporate area, an apartment building, and other recreational areas.
William Hall, a member of Inmobiliaria del Valle (Invalle), and project manager, said one of its additional attractions is that it will have a road bridge which will provide singular access to the complex.
During the first three months of 2013 the real estate market in Costa Rica received $377 million from the sale of properties and construction projects of foreign capital.
This amount represents 90% of the total resources directed towards this sector during 2012. In that period the country had revenues of $866 million in foreign direct investment, an increase of 41% compared to the same period last year.
The search for safe habitats and the shortage of land in the central areas of Tegucigalpa and San Pedro Sula, is driving the construction of high rise apartments and gated communities.
The phenomenon occurs mainly in Tegucigalpa and San Pedro Sula. "The projects being constructed in the new development areas have emerged in recent years following the decline of the historic center of Tegucigalpa, another trade hub of the city, which has been losing its glamor coupled with a lack of planning policies and a commercial road," reported Laprensa.hn article.
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.