House Sales for $665 million in 2012
The Panamanian group of companies, Convivienda projects sales in 2012 amounting to $665 million with the delivery of 7,429 homes.
Thursday, April 19, 2012
The director of the national council of housing developers, explained that the with the Preferred Interest Act raising the ceiling on the value of homes which can benefit to $120,000 will help... "the middle class above all, because there are more chances to get a house for a longer period", reported Panamaamerica.com.pa
The increase of more than 5% in the cost of construction and the revaluation of land in the capital, has made the social housing segment unprofitable for builders.
The crisis in Europe, North America and Venezuela is dampening the dynamism in the real estate sector whose sales depend heavily on these markets.
In the first quarter of 2013 the value of building permits totaled $156 million, with homes leading the growth, followed by commercial buildings.
The Chamber of Builders and the government are working together to achieve the funding necessary to reach the target of 10,000 new homes every year.
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