Real Estate Boom in Eastern Panama, Attributed in Part To Metro Line 2

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Real Estate Boom in Eastern Panama

Greater mobility provided by Line 2 of the Metro in the East of the capital explains the growing attractiveness of the area for real estate development, especially for residential construction.

Wednesday, December 13, 2017

As of October 2013, the total amount of area processed for new residential buildings in the province of Panama amounted to 903,000 square meters, while in the same month in 2017, just four years later, the figure exceeds one and a half million square meters.

See also: "What Constructions are Planned in Panama?"

"For Héctor Ortega, who is running for presidency in the 2017-2018 elections of the Board of Directors of the Panamanian Chamber of Construction (Capac), the reality is that Line 2 of the Panama Metro has caused more people to migrate to that area of the province, as it makes it more attractive. Ortega told Laestrella.com.pa: "Some years ago, the boom was concentrated in Panama West and although it is still there, it has diminished. Now, we believe that it will be reactivated with the construction and commissioning of Line 3 of the Metro and the fourth bridge over the Canal."

Panama: "Construction Figures up to October 2017"

"... Figures from the National Institute of Statistics and Census reveal that from January to October, in the province of Panama, the cost of construction amounted to $909.4 million, which represented an increase of 16.1%. Last year, in the tenth month, the value of the construction permits was $783.6 million."

 

https://www.centralamericadata.com/en/article/main/Real_Estate_Boom_in_Eastern_Panama