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Latin America Investment News on Viva Tropical

Luxury Home Construction Grows in Panama

Article Summary:

Panama is seeing a rise in luxury home construction. In 2013, homes priced over $120,000 accounted for 20% of all units, while in 2012 the figure was 12%.

Photo Credit: Panama America

Original Article Text From Panama America via Google Translate :

Increases building exclusive homes

As supply increases of housing for poor and middle class, the range of options for domestic and foreign more purchasing power also increases.

According to the executive director of the National Council for Housing Developers (Convivienda), Elisa Suarez in 2012 housing solutions with costs of more than $ 120,000 accounted for 12% of the market, but to finish this 2013 the guild hopes to have sold approximately 1,642 dwellings of this type, representing 20% ​​of the market, ie 8% more than last year.

As part of the new offering, Casamar, exclusive community built three years ago on the banks of the Rio Mar Beach, located in San Carlos, in Panama Oeste, on Tuesday introduced two new residential projects 19, Perlamar and Villamar, composed apartments, duplexes and condominiums, with prices ranging between 190,000 and 450,000 dollars, and developed by Group Corcione Verdeazul Group.

Perlamar will feature 85 apartments, 125, 145 and 165 m. While Villamar will consist of 88 units, with a total area of ​​1.6 hectares, composed of 28 duplex with 202 square meters and 60 square meters condo 177.

According to the commercial manager Corcione Group, Rafael Mas, the goal is to provide customers the best beach community closer to the city, focused on family life.

Meanwhile, Alberto Vallarino Clement, President of the Board of Verdeazul, Exclusive Properties, said that with the Villamar project remain committed to meeting the growing needs of the local market and paranacional.

Vallarino said during the presentation of the project, the owners can enjoy direct access to the sea, a restaurant, Sports Club, Town Center and Beach Club Casamar.

Meanwhile, Nicholas Corcione, president of Corcione Group, said the project has its own, and elegant colonial identity.

Link to Original Article:

From Panama America

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