Entrepreneurs in the real estate sector estimate that in the Panamanian market the prices of homes in inventory could fall between 5% and 10%, due to the economic crisis resulting from the outbreak of covid-19.

Although the construction industry is currently paralyzed because of the health emergency and the supply of new housing is not increasing, entrepreneurs anticipate a fall in the prices of residential property.

You may be interested in “Real Estate Supply: How do Prices Behave?”

Ivan Carlucci, president of the Panamanian Association of Real Estate Administrators (Apadi), told Panamaamerica.com.pa that he does not believe that “… the decrease in price is of a permanent nature or that it will last beyond the time of the pandemic. It has become evident that there is a need for homeownership, which is fundamental.”

Carlucci added that “… the price of products under construction is not going to go down, because there is a financing component to that. “The market is going to recover as it has in the past.”

Stay Safe!!