This year in Panama realtors expect to sell 9,000 homes and generate $1.146 billion, which would be a 34% increase compared to the value sold last year.

The National Council of Housing Promoters (Convivienda) plans to sell 8,958 units of housing nationwide this year, after having sold 7,219 units last year.

See also “Central America: $4 billion for Residential Projects“

Regarding the units sold in 2017, 78% corresponded to preferential interest homes, valued up to $120 thousand, 19% corresponded to homes with prices of $120 thousand to $350 thousand, and 3% to units with prices over $350 thousand.

Last year, most of the homes sold corresponded to those located in the price range from $65 thousand to $80 thousand, followed by units whose prices range between $95 thousand and $120 thousand.

Laestrella.com.pa reports that “… During the presentation of the results for the year 2017 and projections for this year, Elisa Suárez de Gómez, executive director of Convivienda, insisted that ‘it is unsustainable’ to build in the price range between $40 thousand and $65 thousand, ‘it is impossible to obtain cost effectiveness’.“

See full report by Convivienda: “Results 2017 and projections 2018” (In Spanish).