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

From the presenting of the report by Convivienda:

As for the projections that our associates have made for 2012, we note that with the same confidence they have always shown in the growth of Panama, sales of more than 665 million balboas ($665 million) are expected, with a total of 7.429 housing units.

This represents an average growth of 19% compared to 2011. This means that new projects will be developed along with a widespread interest in strengthening the position of our national promoters.

More on this topic

Panama: Social Housing Building Stopped

June 2013

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.

"In its projections for 2013, the National Housing Council (Convivienda) a guild that brings together the leading companies involved in the construction of family units will build 8,206 dwellings (houses and apartments) with a total investment of approximately $800 million. In this calculation there are no projects below the $35,000 mark", reported Prensa.com.

The Luxury Housing Market in Panama

October 2011

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 six months of 2011, of the total amount of real estate transactions only 2% related to the sale of luxury real estate projects.

Panama: Building Permits Rise 60%

May 2014

In the first quarter of 2013 the value of building permits totaled $156 million, with homes leading the growth, followed by commercial buildings.

Specialists in real estate and real estate industry players have repeatedly pointed out that the construction of homes, mainly those under the preferential interest scheme, is on the rise and new market niches for housing are opening up.

Projected Rise in House Prices

October 2014

In Panama entrepreneurs are anticipating increases of between 6% and 12% in home prices in the coming months.

The increase in the prices of materials such as concrete, gray cement, sand and stone, among others, is one of the factors that is pushing up the prices of homes, both those for social interest as those aimed at the middle and upper classes.

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