Due to the economic crisis, it is expected that during 2021 the number of business alliances and company sales will increase, especially in the most damaged sectors, such as tourism, hotels, restaurants, entertainment, education and real estate.
The restrictions imposed by the governments of the region due to the covid-19 outbreak, has generated economic losses in most of the productive sectors, including reported business closures and increases in unemployment levels.
In most Central American countries, vehicles are the main merchandise traded through web platforms.
According to the Guatemalan Exporters Association (Agexport), according to the OLX marketing website in Guatemala, El Salvador, Costa Rica and Panama, vehicles are the most published product category.
In Panama, 83% of the houses and apartments for sale range in price from $150.000 to $2 million, while 80% of those interested seek properties with prices below $150.000.
Andres Buitrago, manager for Central America and Colombia of OLX, who prepared the study, detailed to Elcapitalfinanciero.com that "... 84% of the supply is concentrated in six areas: San Francisco, Bella Vista, Betania, Ancon, East and West Panama."
It is estimated that it will take about seven years to commercialize, through the usual channels, the over-supply of between 500,000 m2 and 600,000 m2 that currently exists in the real estate market in Panama.
Those times when real estate projects were selling fast are already in the past. The over-supply estimated by the builders' guild ranges between 500 thousand and 600 thousand square meters, and this situation has generated a kind of competition between the owners of unoccupied properties, benefiting those who are looking for premises, warehouses or residences to rent.