In the industrial segment, the cost per square meter has increase dramatically.
According to CB Richard Ellis, the price per meter in 2007 was between 2 and 4 dollars while in 2008 it is now between $5 and $8.
The economic prosperity, along with a the fact that there has not been a significant increase in the construction of space, caused a shortage in storage space which resulted in the increase in rent prices in Panama City, explained Carla Lopez, director of Evaluations and Consultations at CB Richard Ellis Panama.