In the first half of 2014 housing construction grew by 30% and 27% for apartment buildings, compared to the same period last year.

The balance between the demand for houses and apartments is very equal, depending on the geographical area; generally there are more apartments in the capital and more houses in the countryside.

Elisa Suarez Gomez, executive director of the National Board of Housing Promoters told Panamaamerica.com.pa that “… if a person wants to live near their place of work, the best option is an apartment, but if you are interested in a greater number of square meters, the ideal is a detached house. ”

She added that “… A lot of Panamanians will primarily focus on the level of debt they want to take on before deciding on an option. Usually people calculate different options against their salaries and usually buy based on that.”

Source: Panamaamerica.com.pa