Panama City is becoming a buyer’s market quickly and now is the time to invest!

In Panama, 83% of the houses and apartments for sale range in price from $150.000 to $2 million, while 80% of those interested seek properties with prices below $150.000.

Andres Buitrago, manager for Central America and Colombia of OLX, who prepared the study, detailed to Elcapitalfinanciero.com that “… 84% of the supply is concentrated in six areas: San Francisco, Bella Vista, Betania, Ancon, East and West Panama.”

See “New real estate investment in Central America”

On the other hand, Aldo Stagnaro, president of the Panamanian Association of Real Estate Brokers and Promoters (Acobir), said that “... Sales and rent of properties are not going as fast as expected, but if 80% of the demand is for properties below $150,000, it is necessary to adjust the supply.”

You may be interested in “$1.500 million investment in residential projects”

Luis Navarro de Indesa explained that “… Panama has experienced a 14-year expansion cycle and is now going through a correction process, where housing projects benefited by the Law of Preferential Interest, less than $120,000 maintain a healthy rhythm, but in the higher ranges the sale has slowed down.”

Two weeks ago, CentralAmericaData published figures detailing that “… It is estimated that it will take about seven years to commercialize, through the usual channels, the over-supply of between 500,000 m2 and 600,000 m2 that currently exists in the real estate market in Panama.” See “Real Estate Market is Saturated?”