The month of January 2023 saw a total of $42,018.64 thousand in collections to the Horizontal Property Regime (PH) of the Ministry of Housing and Territorial Planning (Miviot). These include 704 new real estate units, commercial and residential.
The Reverted Assets Administrative Unit (UABR) of the Ministry of Economy and Finance (MEF) has documented that private investment in the Amador Causeway exceeds $70 million, which has generated direct income for the institution in the form of rental fees for more than $30 million.
The Panamanian economy in 2022 recovered strongly according to the reports of the World Bank (WB), Economic Commission for Latin America, Caribbean (Cepal),and the International Monetary Fund (IMF).
The Quarterly Gross Domestic Product (GDP) of Panama registered an increase of $11,317.7 million or 9.5%, with respect to the similar period of the previous year.
According to the General Directorate of Leases of the Ministry of Housing and Territorial Planning (MIVIOT), a total of 1,941 lease contracts have been processed in Panama from January to November 2022.
The Panamanian Association of Real Estate Brokers and Promoters (Acobir), announced the Acobir Real Estate Expo from January 26 to 29, 2023, at the Panama Convention Center.
The construction of the Caribbean Corridor project will link the Panama-Colón highway with the Costa Arriba and it will cost approximately $91 million dollars.
Despite the fact that the Economic Commission for Latin America and the Caribbean expects the economic slowdown experienced by Latin America and the Caribbean to increase in 2023, with growth of 1.4%, the growth projection for Panama’s for next year is currently at 4.2%, placing it as one of the highest in the region.
According to the National Institute of Statistics and Censuses (INEC) of the Comptroller General of Panama, the projection of economic growth is in a context of strong macroeconomic restrictions that are hitting the economies of the region, with inflationary pressures, a low dynamism of job creation, falls in investment and growing social demands.
The Air Panama company announced its reactivation of direct flights between Panama City and the district of Pedasí, in the province of Los Santos, with a frequency of 3 weekly flights (Wednesday, Thursday and Sunday), which will boost tourism in that region.