In 2007, the city of Panama was bracing for the delivery of nearly 9,000 new condo units, with 5,000 of those being delivered in one specific neighborhood: Balboa Avenue. This was crazy.
And based on our research, in 2015 we are looking at just over 4,400 new condo units being delivered over the next 48 months in the downtown corridor.
In our eyes, this contrast from Panama’s boom period shows a return to healthy market conditions and conservative absorption, with a reasonable supply of new inventory coming over the next 4 years (and not a huge inventory dump like we’d seen in the past). We believe that now is an opportune time to look at getting an equity stake in what may very likely be the start of another real estate cycle.
For those wondering about the best time to purchase in a pre-construction project, average sell-out rates of the nearly 38 projects in construction, or perhaps the high and low pricing trends across the market, make sure to visit our website to download the 2015 Panama Pre-Construction Report and Buyer’s Guide here: