Panama real estate group warns of slowdown in affordable housing, seeks government action

Panama's real estate market is facing a slowdown in the segment of housing priced up to $180,000, according to the Panamanian Association of Real Estate Brokers and Promoters (Acobir). The organization held its third General Assembly, themed "Real Estate Investment as a Bridge to Development," to address the sector's challenges and advancements.

Katherine Reyes, president of Acobir, stated that the slowdown has been noticeable since the beginning of the year. The association is actively engaged in discussions with the Ministry of Housing and Territorial Planning, the Ministry of Economy and Finance, and the National Assembly. Acobir aims to present proposals designed to revitalize housing acquisition and help Panamanians build family wealth.

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The real estate sector in the segment of $180,000 and below has shown a slowdown since the beginning of the year. However, we view the president's statements positively and have held meetings to contribute specific ideas and actions that allow Panamanians to opt for a home and generate equity for their families.

"The real estate sector in the segment of $180,000 and below has shown a slowdown since the beginning of the year. However, we view the president's statements positively and have held meetings to contribute specific ideas and actions that allow Panamanians to opt for a home and generate equity for their families," Reyes affirmed.

Additionally, Acobir highlighted the qualified investor visa program, which offers residency to foreigners investing in Panama. National Director of Investment Promotion, Katherine Cardoze, explained that the program requires a minimum investment of $300,000 in real estate, $500,000 through investment funds, or $750,000 in fixed-term deposits. Investors from Canada, the United States, and Colombia are among the most active participants in Panama's real estate sector, which is increasingly seen as an attractive destination for business development.

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It is a program that invites foreign investors to apply quickly and in a short period, with a real estate investment of 300 thousand dollars, 500 thousand dollars if made through funds and 750 thousand dollars if it is a fixed term.