Real Estate Market in Panama 2023 News

As the year progresses, Panama’s real estate landscape continues to hold the attention of investors, buyers, and experts from the international real estate industry.

With its strategic location, its stable economy, in addition to its infrastructure and proximity to beaches and natural areas, Panama continues to be a captivating destination for those looking to reside or, if they are looking for a real estate investment.

In the current year, the real estate and construction industry continues to be an important element for the development of the country. With a wide range of new and pre-owned properties, including modern houses and apartments, the market offers an attractive range of options to suit a variety of lifestyles and investment objectives.

Our roundup of news and analysis below will guide you through current market conditions over the past few months, as well as some industry hotspots, so you can always stay informed and be able to identify opportunities and take action. the best decisions when investing in Panama.

Below we present some relevant news that is presented in the current real estate market in Panama in mid-2023:

The Panamanian real estate market is being promoted in Mexico

The president of the Panamanian Association of Real Estate Brokers and Promoters (ACOBIR), Álvaro Boyd, had the opportunity to present the potential and benefits of the Panamanian real estate market at the World Real Estate Summit, which was held in Mexico.

Said event brought together around 6,000 professionals and 150 exhibitors from the real estate industry worldwide, where ACOBIR also made a cooperation agreement with the National Association of Real Estate Agents (NAR). Such cooperation will help promote Panama real estate to a larger segment.

$130 million in real estate transactions in CAPAC expo

According to a report in Bloomberg, during the famous CAPAC 2023 Housing Expo event, held in April, more than $130 million in house and apartment sales were registered.

Bloomberg also reports that more than 90% of these transactions were for homes between $40,000 and $180,000, for which they enjoyed the Preferential Interest Law.

Preferential interest is a law that supports buyers in acquiring their first home with a mortgage interest rate subsidy on new homes with a value of up to $180,000, the interest rate benefit is broken down depending on the value of the property.

Panama plans to attract more international real estate buyers

In 2023, so far the growth in real estate sales by foreign buyers and investors is around 20% compared to previous period, according to reports from the economic analysis firm Indesa.

These purchases and investments from abroad, according to the firm’s reports, are generally made for high-value homes (with values greater than $180,000), which is an opportunity to keep the real estate market dynamic and be able to promote luxury properties, which usually have less demand.

The director of the firm also concluded that Panama has the necessary conditions to continue attracting foreign investment in the residential real estate segment.