The growth here in Panama is evident when you visit the Chiriqui province and it’s capital David.  Everywhere we see new retail, office, flex/warehouse and residential development.  The hospitals are expanding and the physician networks continue to improve.  The middle class is continuing to press upward, demanding better and more expensive homes.  The lower middle class housing markets and starter homes are also seeing continued demand.   Here is a recent article that I read in CentralAmercaData.com. Keep in mind we have a small base of under 200,000 people so the numbers, while  small in comparison to the big city,  is significant here.

In just five months, residential and commercial buildings costing $13.8 million have been developed, and it is projected that the figure could exceed $49 million by the end of the year.

An article by Teofilo Gonzalez, in Prensa.com, said: “between January and May this year 169,000 building permits were issued producing $184,830 in income taxes for the City of David, reported sources from the Municipal Engineering Department.

In recent years the capital of the province of Chiriqui has become a magnet for residential development and building projects. He said that currently there is considerable demand for buildings for the installation of shops.

Due to this demonstrated strength, next weekend the second urban construction fair will be held in Chiriqui, a province in which the housing deficit is estimated at 16,000 homes.”