From today until 14 September 14 the 18th Expo Habitat 2011 takes place, an international trade fair for the construction and housing sectors organized by the Panamanian Chamber of Construction (CAPAC).
The event features the participation of 400 exhibitors. Along with Panamanian real estate companies there will be representatives from Colombia, Mexico and Venezuela.
Between September 13 and 21, Banco Nacional will auction 70 properties on the Internet.
The platform for electronic auction - www.subasta-cccbr.com was presented by the Costa Rican Chamber of Real Estate and Banco Nacional.
Chévez Diego, director of Banco Nacional 's assets told Nacion.com, "The auction goes online today (12 September) worldwide, the first properties we have for investors will appear here.
Inspired by the growth of Los Reyes, multiple residential developments are being built in vast areas.
Los Reyes was the first of its kind in Costa Rica. Located in a 324 hectare area in Alajuela, it combines residential solutions in large areas with other services like a club, swimming pool, golf, tennis and football facilities.
The property idea has grown and been followed by more residential projects, each with other integrated developments, the latest of which, Las Manzanas, is currently under construction.
Reductions of up to 40% on prices reflect the bubble that was created in Costa Rican real estate sector.
The economic crisis that struck the U.S. and Costa Rica also had a great impact on the Costa Rican real estate industry, where demand has fallen to levels never seen before.
However, the crisis is not solely to blame for the current situation being experienced by the industry, which began two years ago.
In Panama, the construction sector is seeing the same high levels of growth that existed before the crisis, however residential properties prices are falling.
Unlike other countries in the region, the effect of the global recession of 2008 on property investment in Panama was not very serious. The slight impact resulted in a small reduction in prices and a decrease in the growth rate of new constructions.
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The fair organized by the Panamanian Association of Real Estate Brokers and Promoters will be held from February 2nd to February 6th.
Organizers representatives said they are expecting participation of eleven banks, developers and investors. Attendance of some 30 thousand people is also expected.
"According to organizers, it is an opportunity for visitors to learn about new projects, residential lots, apartments and used properties.
Acobir Real Estate Expo 2011 will take place from February 2nd to 6th at the Atlapa Convention Center of Panama.
Osvaldo Marchena, president of the Panamanian Association of Brokers and Real Estate Developers (ACOBIR), expects to exceed $ 60 million in sales.
The executive stated to Pa-digital.com.pa, "...the activity provides an inventory of properties in pre-sale stage, seconds, lots for housing developments, recreational projects, commercial projects and advisory services for investors."
Faced with an inevitable slowdown, Panamanian real estate operators are looking for new buyers in Asian TNCs.
Sales have fallen by up to 40% in the housing sector and it is necessary to explore other market niches to offer existing inventory and continue growing.
Taking advantage of the incentives that Law 41 provides to firms that locate their regional headquarters in Panama, the Panamanian Association of Real Estate Brokers (ACOBIR) is making efforts to cultivate partnerships with real estate associations in other countries.
The ACOBIR Real Estate Expo 2009, from July 22 - 26, hopes to attract around 1 thousand foreign and 15 thousand local visitors.
The event, organized by the Panamanian Association of Brokers (ACOBIR), will be attended by over 140 exhibitors, forums and national and international speakers.
In an article in Prensa.com, the president of ACOBIR, Osvaldo Marchena, states that…
Unlike previous years, Housing Expo Panama (April 2 - 5) will focus on the national real estate market.
It is a fact that million-dollar developments will be presented at the expo, but most of the building projects will be directed to the local market with houses that cost less than $150 thousand.
According to Laestrella.com.pa, "It is estimated that transactions will be made in the order of $160 million; $60 million during the fair and $100 million as a product of the transactions that will close after the expo. It is similar to the figure traded in the previous expo."
From February 10 -13 the Congress of the Real Estate Federation of Central America, Panama and Associations and Chambers from the Caribbean (FECEPAC).
The Congress is planned with the purpose of offering visitors relevant and specific content for each issue of interest.
Since real estate marketing profession is a multi-disciplinary subject, there is the need for the knowledge of those who work in the various sectors to be developed.