Panama’s condominium market remains hot and the beaches are seeing an explosion of new development and sales.

Capital.com.pa reports: “… at the most recent construction fair, Capac Expo 2013 there were presentations of 36 projects in the Pacific area corresponding to the category of second homes or country housing units with access to beaches.” Of these projects, 80% are located between Punta Chame and San Carlos and they don’t include hotels.

“Construction spending reached $700 million, which can be multiplied by two or three because of the cost per square meter, which is more expensive than in the city, so you are talking about an investment of $1.5 billion to $2 billion” said Enrique Asensio, president of the Panamanian Chamber of Construction (CAPAC).