This analysis enables real estate companies to make data-driven decisions on issues that define the success of a real estate business, from acquisitions, leasing, investments to marketing campaigns and operational processes.
Location analytics provides an unprecedented vision of the real estate market, analyzing real-time mobility data such as foot traffic, makes it possible to know the updated prices of economic areas and properties of interest, the development of construction processes, to optimize the real estate agents work routes, identify risk areas, etc.
The value of property in areas such as Amador, Balboa, Clayton and Albrook, has registered increases of up to 300% in the last ten years.
The proximity to the city, the vegetation surrounding the area and the security offered are some of the factors which have increased the value of these areas. For example, in Clayton, an apartment now worth about $160,000, cost about $35,000 ten years ago.
Predictions are that the office vacancy rate in Panama City, currently 33%, could reach 45% in 2016.
Following that under usage prevailing in the office market rental rates have dropped by up to 30%. In the case of hotels, they are also experiencing this phenomenon, the vacancy rate has fallen by 50% and in turn nightly rates have decreased by 28%.
2013 has confirmed a trend toward mixed-use projects with spaces for various uses, especially commercial, residential and office space.
The commercial property market has shown an increase in supply of 9.8%, totaling 884,135 m². Among the activities that have contributed the most to the dynamism of this market is the opening of fast food restaurant chains and projections are that it will continue to increase.
A public-private partnership plans to invest up to $60 million in hotels, a resort and new businesses in order to give the city of Managua a facelift.
An alliance between the Nicaraguan Institute of Tourism (Intur), the National Port Company (EPN), the Municipality of Managua (Alma) as well as private tourism chambers is proposing to change the face of the capital.
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 boom in housing projects and shopping centers in San Lucas Sacatepequez is attracting new business investments to the area.
The geographic location of the Pan American Highway that runs through the town center, has transformed San Lucas into a 4 km corridor where there are restaurants, shops, furniture stores, convenience centers and five commercial spaces.
The tourism developer Gran Pacifica is planning to complete the Gran Pacifica villa with 300 homes, hotels and condominiums, golf courses and parks, according to the master plan for investment.
Laprensa.com.ni reports that "Leveraging the signs of recovery shown in some of the world’s economies, which seem to have withstood the roughest stage of the global crisis, the tourism developer Gran Pacifica is expanding its growth targets toward agribusiness, energy generation and mining, without abandoning its goal of consolidating residential tourism. "
In light of a better investment climate, construction has resumed of the luxury oceanfront condominium project, after becoming stalled two years ago.
Milagro del Mar was designed to create an exclusive community within the Gran Pacífica, with 122 condominiums, 20 villas, swimming pools with waterfalls and a pool by the ocean, a gym, a restaurant and a convenience store.
The current dynamism of the economy, especially in tourism, has created a rise in real estate projects which should be examined carefully before investing in them.
The main factor influencing the current housing boom is the Nicaraguan tourism sector, which has grown in terms of number of visitors and investment, with the help of the natural beauty spots in the country.
In the past two years, the value of constructions in the district of Arraijan, in the central-western part of the Province of Panama, rose to $200 million.
Of all the money invested, $97 million corresponds to non-residential projects.
According to the President of the Panamanian Chamber of Construction (Capac) commercial and real estate investments are continuing to grow to the west, even as far as Capira.
The opening of the Desing Center corporate office buildings whose investment is $26 million, adds to the growing collection of new office centers in Zone 10 in Guatemala City.
The new center joins the 30 existing buildings and with them others whose construction is nearing completion, as is the case of the Sixtino II Building, the Interamerican Business Center, the Dubai Center and the Banco Industrial’s Tower 3 in Zone 4.