In Zone 14 of Guatemala City, the company Desarrollos Quinta S.A., plans to build a 23-level apartment tower that will have a construction area of 40,285 square meters.
According to the interactive platform "Construction in Central America" of the Trade Intelligence Unit of CentralAmericaData, Desarrollos Quinta S.A., submitted to the Ministry of Environment the Environmental Impact Assessment (EIA) to develop the project called "Avita Quinta".
Torres Natura S.A. plans to build a residential complex consisting of three apartment towers, which will be located in the municipality of Santa Catarina Pinula, department of Guatemala.
According to the interactive platform "Construction in Central America" of the Trade Intelligence Unit of CentralAmericaData, Torres Natura S.A., submitted to the Ministry of Environment the Environmental Impact Assessment (EIA) to develop the residential project.
When the first cases of covid-19 were reported, in all Central American markets the interest in renting residential apartments fell abruptly, however, since April the fall stopped and in the last months an upward trend was evident.
Through a system that monitors in real time the changes in the interests and preferences of consumers in Central American countries, developed by CentralAmericaData, it is possible to project short and long term demand trends for the different products, sectors and markets that operate in the region.
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. In this scenario the real estate market is no exception. This sector will have to adjust to take advantage of the opportunities generated by the current crisis.
Because of the new commercial reality that has emerged in an accelerated manner and with the boom of telecommuting, potential buyers are more inclined to buy an individual home, which offers more privacy, than an apartment.
With the spread of covid-19, strict home quarantines were decreed in Central American countries. This scenario encouraged the implementation of telecommuting and forced companies to adapt to new forms of operation.
Arguing that the dynamic evolution of covid-19 has changed the socio-economic conditions of the population, a decree was issued to modify the rule that suspends evictions and launches, for the duration of the health emergency.
The Panamanian government issued a decree to raise from $60,000 to $70,000, the maximum price for a home to apply to the Solidarity Fund contribution.
Through this norm for the zone code RBS (Residencial Bono Solidario), the sale price for the housing unit and the lot cannot exceed the sum of $70,000 at the national level. Previously it was $60 thousand, for some provincial capitals, reported the Ministry of Housing and Land Management.
Although the Guatemalan economy has almost stagnated in recent months, during the first half of the year the number of loans granted for the purchase of residences grew 3%, and by 2021 it is predicted that sales could be similar to those of 2019.
The social distancing measures and the prohibition of several economic activities decreed by the authorities due to the covid-19 outbreak, caused considerable negative effects to the Guatemalan real estate market.
In Central America, more than 800,000 people are looking to buy items to decorate a house or apartment online, and of this group of consumers, approximately 12% explore options to purchase lamps and their accessories.
The interactive information system of CentralAmericaData, monitors in real time the changes in consumer habits in all markets of the region, with fundamental information to understand the current commercial environment in which companies of all industries must operate.
Entrepreneurs in the real estate sector estimate that in the Panamanian market the prices of homes in inventory could fall between 5% and 10%, due to the economic crisis resulting from the outbreak of covid-19.
Although the construction industry is currently paralyzed because of the health emergency and the supply of new housing is not increasing, entrepreneurs anticipate a fall in the prices of residential property.
In the countries of the region about 4 million people are looking to buy or rent a residential property, and 11% of these consumers, explore options to rent an apartment.
The interactive information system developed by CentralAmericaData, monitors in real time the changes in consumer habits in all markets of the region, with fundamental information to understand the new commercial environment that has emerged in an accelerated manner.
Although at the beginning of the covid-19 outbreak in all the markets of the region the interest for the rent of apartments of residential use diminished, at the beginning of April the fall stopped and in some countries an incipient rise is reported.
Through a system for monitoring changes in consumer interests and preferences in Central American countries in real time, developed by CentralAmericaData, it is possible to project short and long-term demand trends for the different products, sectors and markets operating in the region.
In 2019, 426 environmental impact studies were submitted to develop condominiums, apartment buildings and other housing projects in Central American countries.
The interactive platform "Construction in Central America", of the Trade Intelligence Unit of CentralAmericaData, includes an up-to-date list of public and private construction projects that present environmental impact studies (EIS) to the respective institutions in each country.
An apartment tower in Honduras, the construction of a road in Guatemala and a multipurpose tower in Panama are part of the investments announced in the region for the coming months.
The interactive system "Construction in Central America", of the Trade Intelligence Unit of CentralAmericaData, includes an updated list of public and private construction projects to be developed in the coming months.
A ten-story tower will be built on a 1,742-square-meter lot in the town of San Francisco, Panama Province, to house apartments, offices and commercial space.
According to the interactive platform "Construction in Central America" of the Trade Intelligence Unit of CentralAmericaData, Silver and Gold Development, INC, submitted to the Ministry of Environment the Environmental Impact Assessment (EIA) to develop the project called, "P.H. Grand Palace Business Center".
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