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Luxury developments amount to only 2 percent of real-estate sales in Panama. Foreign buyers hold off purchases

Monday, October 24, 2011

Sales and construction of luxury real-estate developments in Panama have stagnated while the market in housing units costing about $80,000 is booming.

Sales of developments in which units costing $250,000 upward have traditionally attracted foreign buyers, but not any longer.

In the first two quarters of this year, luxury schemes accounted for only 2 percent of all the real-estate transactions in Panama.

Original source (in Spanish): Panamá América