The most recent Expo Vivienda Verano held at the Atlapa Convention Center from 2nd to 5th April this year was successful in attracting the presence of more than 140 real estate promoters.
The fair was held at a very appropriate time for the construction sector not just in Panama but in the world in general. Although investors have felt the cold winds of economic recession, this year’s event provided evidence that, residential projects in the country remain popular and that the local market has a rich selection of choices to consider.
In all more than two hundred residential projects were on show, with the largest number of sales going to those at prices below $100,000. The fair featured projects at the social housing end of the scale, others within the range of preferential interests up to $80,000 and high end properties with price tags over one million dollars.
According to engineer Enrique Asensio, President of the Organizing Committee for the 2009 Expo Vivienda Verano, the four days of the fair witnessed a total of around $50,000,000 in business, with another $100,000,000 expected to be finalized in the coming months. This is the best evidence of the excellent economic outcome of the show, which also serves as a stimulus to the Panamanian real estate market.
The outcome of this show will provide an important input into the planning and organization of Expo Hábitat 2009, the larger fair organized by the Panamanian Chamber of Construction (CAPAC), which will take place from 16th to 20th September this year.
It is worth pointing out that CAPAC is also behind the 2009 Expo Vivienda Verano, which was conceived with the objective of presenting buyers with the greatest available number of residential projects together with financing entities ready to offer credit facilities on the best terms. Once again this objective was achieved and a large number of investors now own property in one of these fabulous projects that have well and truly placed Panama on the international real estate map.
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