Panama’s house prices are rising strongly
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After falling by about 25% during the global crisis, property values are now rising at double-digit figures in Panama´s most sought-after areas, and more modestly, at around 4% to 5%, in other areas, according to local property experts. There is strong foreign property demand, particularly from the U.S., Canada, Venezuela and Colombia.
In Punta Pacifica, a collection of exclusive waterfront skyscrapers, residential prices rose by 14% in 2014, according to Punta Pacifica Realty, and residential sales volumes soared by 35%. The average price in Punta Pacifica now stands at around US$2,500 per square metre (sq. m.), up from about US$2,200 per sq. m. the previous year.
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