Panama home sales at four-year high

Panama home sales at a four-year high


November 2022


Residential property sales in Panama have recovered steadily since the Covid-related slump in 2020. They are now even above the levels reached in 2019.

Who Says Sales are up?

According to the authoritative magazine Tuesday Financial, more than $1,4bn worth of home sales were recorded in the first half of this year. The number of sales registered was 40% up on the same period of 2021, and more than 200% up on the first half of 2020.


It was also 30% up on the number of sales registered in 2019. This indicates that the market is now well ahead of where it was before the pandemic.


And according to the Regulator of Banks of Panama, the value of mortgage loans registered showed a year-on-year increase of 5,8% in August. This takes the total outstanding balance now to around $16,7bn.


Quoting Acobir, the Panamanian Association of Real Estate Brokers and Developers, the publication notes that the main driver of home sales currently is high demand in the $40 000 to $180 000 price range.  This range is known as the preferential sector, in which young buyers can obtain housing subsidies and preferential home loan interest rates.


Indeed, says the National Council of Housing Promoters, an estimated 89% of home sales last year were in this sector.  10% fell into the $180 000 to $350 000 price category. This leaves only 1% in the luxury category over $350 000.

Acobir helps with sales

Acobir president Francisco Cheng also says that housing developers are very focused on the preferential sector at the moment. They are seeking to meet the demand from young professionals and families aiming to become homeowners instead of tenants while they are able to access home loans at affordable rates.

Fransisco Cheng Fransisco Cheng

Housing inventory has recovered to a large extent following a sharp drop in 2020, he says. Some 6500 new homes are currently ready for occupation and more than 12 000 more in the pipeline. There are good prospects for the industry to keep up the momentum of recovery for the next few years.


However, inflation could put a damper on this. It may drive up the prices of building material inputs as well as labor costs. Unfortunately, this could result in developers having to raise sale prices and new homes becoming less affordable.

new house in Boquete

Come live in Panama

Residential property sales in Panama have recovered so well.    Panama is definitely one of the better countries to live and retire in.

**Utopia Concierge and Realty Services is a proud member of Acobir, which represents only the most professional real estate and development companies in Panama. For help finding your perfect home in Panama, contact us on +507 6601 3159 or




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