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Panama City Highs

Panama City Highs

10.10.19

According to local property experts, property values are rapidly increasing in Panama’s most sought-after areas.

The average property sales price surged by 21% from January 2015 to June 2017 in Panama's metropolitan area, according to the Panamanian Chamber of Construction (Capac) as reported by La Estrella de Panama. However, despite this significant increase, house prices in panama are still around 10% below the peak levels observed before the 2008 global financial crisis. Nonetheless the economy is expected to expand by 6% this year and by another 5.5% in 2020, according to the IMF.

Supply and demand in both property sales and construction activity rose strongly in 2018, fuelled by strong economic growth. Significant foreign property demand, particularly from the U.S., Canada, Venezuela and Colombia, has also attributed to the increase, with the majority of property sales in Panama West, particularly Arraijan and La Chorrera, thanks to the construction of Line 2 of the Metro. A typical city centre apartment of 120 sq. m. has a buying price of around $432,720, a rate per month of $2,075 and a yield of 5.75%.

Property prices are further bolstered by large public works projects, including a second and third metro line, an urban renewal of Colón and the expanded Suez Canal which will boost transits from larger ships on the eastern US-Asia route, helping the country grow by an average of 4.6% annually from 2017 to 2018.

 

Abode Affiliates

  • Alleyne Real Estate
  • Blevins Franks
  • Coldwell Banker
  • Crane Resorts
  • The Hideaways Club
  • Monaco Real Estates
  • RDO
  • Rosemont Consulting
  • St Francis Links
  • Unique Home Stays
  • Yoo
  • Worldwide Dream Villas
  • Cyan International Properties
  • Enigma Yachts Limited
  • Cornerstone Tax Advisors
  • Lida Cucina
  • Pedini London
  • Alexander James
  • Wings
  • Moore Stephen
  • Ibiza Transit Express
  • Oyster Yachts
  • Jumeirah
  • Wall Street Luxury
  • Heron Real Estate
  • Edenhurst
  • MG&AG
  • Gama Property
  • Touch Design Group
  • St Edward
  • Ultra Villa
  • Luxury Italian Living
  • Habitat First Group
  • BDO
  • 7Storeys
  • Smart Currency Exchange
  • Strutt and Parker
  • Prestige Architects
  • Worldwide Property
  • Panorama
  • Dimora
  • Dominic McKenzie Architects
  • The Coastal House
  • Chamonix Ski Chalet
  • Luxe Caribbean Properties
  • Harry Manning
  • Smart Living
  • Isle Blue
  • MAS Marbella
  • London Fractions
  • QTD
  • Page Architects
  • Millgate
  • Jersey Finance
  • guernsey-relocations-logo
  • viberts-logo
  • b-williams-management
  • kpmg-logo
  • author-interiors
  • Wilkinson Beven
  • BoConcept
  • Ante Vrban
  • Experience Invest
  • Move 2 Gozo
  • Deborah Garth
  • Extex
  • You home
  • Ra Shaw Designs
  • Caudwell Collection
  • eastwood private client
  • accanto-interiors
  • Fritz Hansen
  • capital-rise
  • jarrods-staircase
  • neil-davies-logo
  • Tina Shone Group
  • Taplow riverside
  • Aimo
  • ns-ceramics-logo
  • Rusk
  • Consilium Expert Group
  • Ben Krupinski Builder

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