Cost of rental in Panama City rises

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Booming economic activity and the arrival of foreign executives driving demand and prices of rentals in Panama City.

According to realtors in the past five years rental housing in Panama City has grown 40 %. In areas such as the Rio Abajo , Parque Lefevre Carrasquilla and is paid up to $ 500 to rent an apartment , but now the value could be $ 800.

The Comptroller General’s Office show that between 2007 and 2012 holiday in the districts of Panama and San Miguelito increased 23 %. The increase could be justified in some cases , by the rise in the share of building maintenance.

It has also increased the influx of foreign professionals and executives who can spend more than $ 2000 to rent an apartment and up to double if it is furnished.

The Prensa.com article reports that ” the construction of public spaces such as the coastal strip and its proximity to major shopping centers has also raised the cost of the rentals in these areas.”

Source: Prensa.com

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