Panama: Housing Fair Deals Worth $200 million


News from Panama / Wednesday, September 28th, 2016

expo-habitat-2016

During the CAPAC Expohabitat fair about 1500 homes were sold and $200 million traded in mortgage transactions, which is 20% more than projected.

The Panamanian Chamber of Construction projected generating $175 million, but $220 million was eventually traded, 20% more than planned and 12% more than the results of the fair in 2015, when $194 million worth of deals were negotiated.

Prensa.com reports that “… 1,500 homes in various sectors of the country were sold, according to statistical data provided by the 15 mortgage banks who offered their services during the event. The President of Ferias de Capac, Alejandro Ferrer, also noted that “… 71% of the amounts approved were for preferential interest housing and of that figure 17% were for social interest properties.”

“… Of the total amount of approved units, 80% were prime rate and 25% corresponded to the social interest banking segment, said Capac in its report, adding that the largest number of approvals was concentrated in the range of $60,000 to $80,000, representing 31% of the amounts and 38% of the units.”