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.
Banks, supermarkets, shopping centers and residential development projects characterize the growth of a province with half a million consumers.
There are approximately 500,000 inhabitants who are demanding more services, especially in areas such as health, restaurants, shops and banks, which although present in the province need to be expanded on in order to meet consumer needs which are growing fast in Panama Oeste.
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%.
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 special economic area at the former Howard Air Base there are now 164 companies operating in different sectors with investment so far totalling $270 million.
Capital.com.pa reports: "Some 164 companies are operating in the Panama Pacifico. 30% of them are in the services and retail stores sector, 18% are in the maritime industry, 15% are logistics companies, 13% are high value-added industries and the remaining percentage corresponds to other economic activities. "
Benzar Holdings has invested over $40 million in Atrium Mall, which will boast 14,500 m² to retail space.
The new mall, construction of which is expected to be finished in about two years, will also have seven rooms for art cinemas, a play area, a spa, restaurants and bars.
Prensa.com reports: "The new shopping center (which will be added to the other major ones stationed in the capital city) will serve a growing market in Costa del Este, Santa Maria Golf & Country Club and Chanis as well as new developments on the way to Tocumen International Airport. "
Real estate developments in the area of Cocle will have to generate their own sources of private water supply due to a shortage of this fluid in the province.
In light of this situation, the authorities do not seem to be in agreement over how the problem should be combated. "This year in Penonomé alone there are plans to build a thousand new homes and at least three malls, in Anton, there are plans to build three huge shopping malls, three hotels, the international airport and residential areas. However, the condition is that all of them are obligated to drill for private wells for water ", reported Prensa.com.
In Panama, the district of Chitre, in the province of Herrera, is becoming a boutique metropolis for trade and tourism.
According to the architect Jose del Carmen Perez, a new zoning plan for Chitre by the Ministry of Housing is on the point of being adopted, which allow the construction of buildings over 10 storeys, something that is not allowed under the current plan.
The mini city has become a target for locating companies in offices which now cost $3000 per square meter.
According to an article in Prensa.com "Up to the second half of 2012 there were 139 shops in Costa del Este, with an unemployment rate of 2.23%, one of the lowest in the capital, according to figures from CBRE Panama, consultant real estate. "
During that same period, there were 50,539 meters square under construction, representing one of the submarkets with the greatest amount of development in this location.
Residential projects for the middle and upper classes in Arraiján and Chorrera, Panama, are driving investment in shopping centers, supermarkets and universities.
Capital.com.pa reports that "the population census of 2010 indicates that residing in Arraiján and la Chorrera are 382,249 inhabitants and the estimated population in 20 years in these districts is 570,000 residents ...".
Project "‘La Hacienda del Comendador", located in the municipality of San Miguel Dueñas, Guatemala, will have church, gardens and a "Commander's House."
According to an article in Siglo21.com the developer is Desarrollos Integrales para el Progreso (D&P), which plans an initial investment of $7 million for the construction of community projects, which will give a colonal character to the entire project.
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.
Growth and economic stability, legal security, fiscal incentives, liberal immigration policies, the 2006-2008 real estate boom and the fact that hurricanes avoid it.
Six months after the first completed units were handed over to their new owners, the creation of the project that gave life to Trump Ocean Club and its sail-shaped tower is the subject of an interview by AméricaEconomía.com with the Panamanian developer, Roger Khafif, president of K-Group and Trump's partner in the project.
Panama's economic boom is fuelled by the construction industry.
Americans, Europeans, Mexicans and Colombians are all looking to the country that holds the world's most important commercial gateway, the Panama Canal, plus Latin America's most important air link.
The combination of the canal for trade and the Tocumé Airport that joins the Americas has attracted investors like Donald Trump.