In the latest installment of Panama Real Estate Market Insight, Punta Pacifica Realty president Duncan McGowan focuses on what’s next for Panama’s property. You can watch the first part of the interview here
An interesting phenomenon is developing, which will change the course of the market for the next three to five years, Duncan says. A traditional buyer’s market is shifting to a seller’s market in the wake of the pandemic, creating new opportunities.
Many projects in the planning stages have stalled and are not likely to restart for several years, leaving supply limited apartments in existing buildings and projects that are already under construction. As a result, the inventory of apartments is likely to shrink in the next year as buyers snatch up existing units and demand for top units will increase, driving up prices, Duncan explains.
Check out the video for the full story.