In Panama City a reduction of almost 20% in the prices of residential rents has been reported, particularly in areas that five years ago registered the highest prices in the capital.
The high supply of apartments and houses in residential areas has pushed down prices, especially in areas such as Paitilla, Balboa Avenue and Costa del Este, where in 2013 2 and 3 bedroom apartments were rented at prices above $2,000 and $3,000 a month.
In Panama, the government is proposing resuming discussions with construction and real estate companies to update the regulations on the Horizontal Property Law, which has been in effect since 2010.
Although the law dates from 2010, there is still no regulation that establishes how the law should be implemented and how the government should ensure compliance. For that reason, the government intends to put the proposal back on the table to discuss it with the private sector.
About 100 real estate, financial and decoration exhibitors will be present at the Parque Viva Events Center in Costa Rica, from August 22nd to 26th.
Nacion.com explains that "...This year attendees can find a total of 52 real estate companies, 36 decoration stands and other services for the home, as well as an insurance company and nine entities dedicated to financing."
The event will take place in San Jose on August 9 and 10, and participants from 18 countries in Latin America, North America and Europe are expected to attend.
The III Latin American real estate congress will be held at the Real Intercontinental hotel.
A statement from the Costa Rican Chamber of Goods and Services Brokers (CCBR) states that "... The event, which will take place at the Real Intercontinental Hotel in San José, will be a forum in which the best tools for the professional development of agents will be announced, through the search and exchange of information.The activity will be attended by 18 countries in Latin America, North America and Europe."
This year in Panama realtors expect to sell 9,000 homes and generate $1.146 billion, which would be a 34% increase compared to the value sold last year.
The National Council of Housing Promoters (Convivienda) plans to sell 8,958 units of housing nationwide this year, after having sold 7,219 units last year.
The Ministry of Economy wants to rent a property where it can integrate the departments that are currently spread out over two buildings.
The ministry's aim is to integrate the offices that are currently located in the Ogawa and PH Republic buildings, located on Via España.The intention is to pay less rent than is currently being paid.
The dynamism of the activities linked to the services sector is the main driver of the growth in the office market segment in the Greater Metropolitan Area. The recovery that this segment has shown in recent years goes hand in hand with the greater investment in the services sector, especially foreign investment. Currently " ... more than 70% of the space (is) occupied by the service sector industry."
Shopping centers and office buildings are the main works that are being developed around the suburban runway, along the southern highway in the capital of Nicaragua.
Real estate growth in Nicaragua is occurring in various areas of the country, but especially in the capital and its surroundings. As indicated by figures from the Central Bank's most recent report on private construction, the greatest investment is observed in the capital and its surroundings, and specifically, in developments for the commercial and service sectors.
A legal initiative proposes regulating the activities of real estate brokers, as well as the requirements that companies dedicated to the activity must comply with.
From a statement issued by the Legislative Assembly of El Salvador:
Details of the ten most valuable construction projects in terms of investment, for which environmental impact studies were submitted in the last twelve months.
Of the 10 most important constructionprojects for which Environmental Impact Studies were submitted to the Ministry of the Environment between August 2016 and July 2017, four are to be developed in the province of Colón, with an estimated investment of $2 billion.
In some areas of El Salvador, the difference between having or not having a security gate can vary the price of a used home that is for sale by up to 30%.
In the metropolitan area, the sale prices of real estate are so variable that, according to real estate agents, it is almost impossible to get data on the average value of a square meter in a given area.
With the modification proposed in the first debate, properties that constitute a main dwelling, regardless of who inhabits it, may benefit from the higher exemption and lower rates.
Bill 509 was approved in a first debate by the National Assembly of Panama, and although it still has to be approved in second and third debate, and later regulated, it was agreed that banks will be the agents withholding the property tax.
An environmental impact study has been submitted for the construction in San Miguelito, Panama, of a mixed complex consisting of six apartment towers and a tower for commercial use.
Data from the Interactive System "Construction in Central America", compiled by the Business Intelligence Unit at CentralAmericaData, indicates that in June Inmobiliaria Panamá Bella S.A. submitted an Environmental Impact Study (EIA) to the Ministry of the Environment.
Between January 2015 and June 2017 the average price per square meter of homes and apartments for sale in Panama City increased by $350.
<span dir="ltr">Data from the Panamanian Chamber of Construction (Capac) indicates that the average price per square meter of homes for sale in the capital increased from $1,700 in January 2015 to $2,050.
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