Panama: Real Estate Boom in Suburbs of Capital
- Friday, July 18, 2014
Even in some areas far away from the center, "... a square meter used to cost up to five dollars, while today is not to be found for less than $10 and there are even areas that are close to $20," says Jose Batista advisor to the Board of Directors of the Panamanian Society of Engineers and Architects (SPIA).
Ivan Carlucci, a property specialist, told Panamaamerica.com.pa that "... the rises reflect the "natural evolution of the cost", and ... with time, land becomes more expensive, materials more expensive, in the same way as labor. "
"...Keeping pace with the rise in development in these places are projects with more features, which in turn generates a demand for higher wages. For example, in these areas (Parque Lefevre, El Bosque, Villa Lucre, Juan Diaz), you can now see projects with prices of up to $600,000. "
Source: Panamaamerica.com.pa
Source: Panamaamerica.com.pa
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