Panama: $169 million in Deals at Real Estate Fair


News from Panama / Tuesday, November 7th, 2017

In the Capac Expo fair, 1,824 homes were sold, and the highest number of approved banking transactions corresponded to residences with prices between $40,000 and $60,000.

From a report by the Panamanian Chamber of Construction:

In the most representative trade fair event of the industry, held from September 13 to 17, a total of 1,824 housing units were sold, according to data supplied by the 15 banks that offered their services during the activity.

Alejandro Ferrer, president of the Commission of Fairs at the CAPAC, announced that of this result, 80% (1,443 homes) belong to the segment under the Preferential Interest Law, while the remaining 20% (381 homes) include those outside of this tax benefit (properties worth over $120 thousand).

In terms of amounts of approved transactions, 59% ($53.1 million) corresponded to the range within in the Prime Interest Law, and of that figure 2% ($2.9 million) of the approved transactions were for social interest properties.

The range with the highest number of approvals during the CAPAC Expo Habitat 2017, in terms of units and amounts, was for homes worth between $40,000 and $60,000, representing 26% of approved money and 44% of housing units.

Read full release (in Spanish).

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