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