The arrival of multinational corporations and international corporations involved in the various mega projects currently underway in the country and looking for personal residences, have been crucial to foster the development of the business of renting houses and apartments of high value capital city.
Since 2009 the demand for rental houses and apartments of high-value between $ 1,500 and $ 5,000 a month and a term of one to three years began to rise dramatically, and although now it has lost some intensity this mow being an interesting business in the real estate market.
However, the culmination of many projects increased the supply and today the same apartment can be had for $ 12.00 per square meter. Montenegro said they have yet to deliver some 3,000 housing units at the high end market, so you still have lower prices but slightly, so this should not fail to be good business for the owners.
According to George Blaisdell, Tribaldos Investment Advisor Real Estate, the area with the highest price during the second half of 2010 was the coastal strip with an average rent of $ 16.00 per square meter, East Coast, with $ 15.82 the San Francisco square meter, with an average of $ 13.75 per square meter.
The average price of furnished apartments in the first half of 2011 is between $ 14.50 and $ 11.00 per square meter. According to Blaisdell, in areas such as El Cangrejo, East Coast, the coastal strip and Punta Pacifica rental prices per square meter have increased and the opposite has happened in the reverted areas, Bella Vista, San Francisco and Marbella.
He explained that the rental prices also depend on the different areas of the country, the less inventory is available, its price will increase gradually.
This must happen in the majority of the regions of Panama City with the exception of the way Simon Bolivar, Ricardo J. Alfaro and Panama West, where the price should be maintained.
The licensed broker of Real Estate, Martha Arias, said the market should be analyzed carefully, because although the overall supply has increased has declined in the same locations near schools and jobs.
Arias stressed that in theory the houses are in greater demand than apartments, and the lifestyle that you can take it, but there is almost no supply, demand for apartments is greater, even when it is furnished flats low and much lower for furnished homes.
Blaisdell said that the greatest demand right now is towards the apartments, which represent 55% of rentals made, while only 23% houses, the rest is shared weekly rentals, beaches and vacation options trading.
According to real estate brokers surveyed, although there is no written rule to set prices for rent, usually for these homes the investor looking for 8% of the value of the minimum. In addition there are factors like the area, finishing, distribution and light.
According to Montenegro, at this time the city has increased demand for apartments for several reasons, starting because the cost of rent is lower and is considered safer to live, especially for foreigners.
In addition, the apartments come with 1, 2, 3 or 4 bedrooms, which are best suited for singles and couples without children, also require no maintenance, while a home involves taking care of the exterior and gardens.
Also there are fewer offers of houses, because in general the Panamanian purchase a house to live in it and not for rent, although the executives if they come from countries where crime problems (Venezuela, Mexico, Guatemala) prefer apartments because they are safer after living in Panama four or five years usually choose to move to a house.
For Montenegro, the rental price of the houses are more varied than that of the departments and it varies with the size of the residence, the amount of land, amenities with the home or neighborhood as a perimeter wall, neighbors and access.
Arias, meanwhile, said many executives prefer relatively new houses with large patio, swimming pool in a gated complex social area and near schools, but demand is such that as soon as rent goes to market quickly.
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Posted in Estate Business | 
Tags: Apartment, Development, Investment, Real estate, Real estate broker, Real estate lease, Real estate market, Rental house
