From the beginning of 2011 the commercial real estate market is steadily growing. In the third trimester of 2013 there were almost 59,000 sq. meters of office space delivered to the market, mostly class A and B+. The great majority of it is located on Balboa ave. and reverted areas such Clayton and Ancon. Total amount of sold property during the same period is equal to 24,253 square meters
What concerns rental market, it is safe to say it has slowed down during the mentioned period. There was a huge amount of commercial and office space delivered to the market last year.
Office real estate in Panama is still a market with very high returns and liquidity. Average occupation rate varies, but in general the business centers that were delivered 2 years ago or earlier have almost 90% occupation rate.
It is necessary to add that only during the last trimester of 2013 several business centers broke the construction ground and when being delivered, they will add more than 25,000 sq. meters to the market.
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