Definition:
The residential real estate market covers the leases and transactions of residential properties. Residential real estate leases refer to the market where landlords and tenants enter into agreements for the rental of residential properties, such as apartments, houses, and condominiums, while residential real can be defined as buying, selling, or transfer of ownership of residential properties.Structure:
The residential real estate market covers real estate transactions and leases, and the section, residential real estate leases, is divided into apartment and house leases.Additional information:
The market contains the following KPIs: real estate value aggregated for all countries and regions, average real estate value, real estate transaction revenue, number of real estate sold, number of leased and owned real estate, average room per resident, and dwelling type shares. The dwelling type shares comprise the share of the population that lives in houses and apartments. These shares are displayed for real estate owners and for real estate renters as well.Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
The Residential Real Estate market in Panama is experiencing significant growth and development. Customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors all contribute to this positive trajectory. Customer preferences in the Residential Real Estate market in Panama are shifting towards modern and luxurious properties. Buyers are increasingly seeking high-end amenities and features, such as swimming pools, gyms, and smart home technology. This preference for luxury is driven by a growing middle class and an increasing number of high-net-worth individuals in the country. Additionally, there is a demand for properties that offer a sense of security, such as gated communities or properties with advanced security systems. Trends in the market indicate a rise in the construction of residential towers and condominiums. Developers are capitalizing on the demand for modern and luxurious properties by constructing high-rise buildings that offer a range of amenities and services. This trend is particularly evident in urban areas, where space is limited and vertical growth is necessary to meet the demand for housing. Additionally, there is a growing interest in eco-friendly and sustainable properties, as consumers become more conscious of their environmental impact. Local special circumstances in Panama contribute to the development of the Residential Real Estate market. The country's strategic location as a hub for international trade and commerce attracts foreign investors and expatriates, creating a demand for high-quality housing. Additionally, Panama's status as a tax haven and its stable political and economic environment make it an attractive destination for investment in real estate. The government has also implemented policies to encourage foreign investment, such as the creation of special economic zones and incentives for real estate development. Underlying macroeconomic factors also play a role in the growth of the Residential Real Estate market in Panama. The country's strong economic growth and stability have led to an increase in disposable income, allowing more individuals to invest in real estate. Additionally, low interest rates and favorable mortgage conditions make it easier for buyers to finance their purchases. Panama's growing tourism industry also contributes to the demand for residential properties, as visitors often choose to invest in vacation homes or rental properties. In conclusion, the Residential Real Estate market in Panama is experiencing growth and development due to customer preferences for modern and luxurious properties, the construction of residential towers and condominiums, local special circumstances such as the country's strategic location and tax advantages, and underlying macroeconomic factors such as strong economic growth and favorable mortgage conditions.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
Most recent update: Jul 2024
Source: Statista Market Insights
Data coverage:
Figures are based on total and average value of residential real estate, residential estate transactions and leases.Modeling approach:
Market size is determined by a combined top-down and bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.Forecasts:
We use a variety of forecasting techniques, depending on the behavior of the market, for instance, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.Additional Notes:
Data is modeled using current exchange rates. The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights