Avenida Balboa Panama
Avenida Balboa Panama is the oceanfront avenue in the heart of Panama City. For those of you that have been following our neighborhood reports, you will remember that we published findings of a pricing-trend study we commissioned for the Avenida Balboa district about 10 months ago. This is a follow up to that report.
Avenida Balboa Panama developer’s published pricing on their yet-to-be-delivered condo units along Avenida Balboa have come down just under 5% over the last 10 months. According to interviews with agents representing Habitats Realty, Bern, Btesh and Virzi, and Cityland, buyers are still coming in from places like Russia, Europe, and of course Venezuela, but demand from the North American market has slowed down significantly.
View Avenida Balboa Panama real estate listings
Price lists for the following projects in construction: Rivage, Waters, White, Arts Tower, Yoo, and Villa del Mar show anywhere from 60-95% of the units as marked “Sold or Reserved”. The important question, which only time will tell, is how many of the buyers are prepared to close.
As a supplement to our data, gathered by canvassing buildings, interviewing developers, and compiling listing data online, we have also started what may be Panama’s first shared MLS, designed in-house to capture sales data from fellow brokers. Think of this as a compiled and shared sales history from Panama’s top-selling agencies.
Over 450 units on Avenida Balboa have been delivered in the last 12 months, which represents a 32% increase in total constructed inventory.
Avenida Balboa Real Estate Trends
We are hearing from residents along Avenida Balboa that the noise situation has improved significantly with the phase in of the new buses, however Panama is and will remain a very noisy city.
Average price per square meter in a building less than five years old has seen a 9% price reduction in the last ten months, from $2,320 to $2,097 per square meter.
Rental demand for high end, fully furnished two bedroom units like Sky, Destiny, and H20 remains strong, with average days on market for a competitively priced unit($2,000/month or less) at less than 30 days.
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- Arts Tower Panama March 2011
Arts Tower Panama March 2011 construction update
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- villa del mar Panama March 2011 image 1
villa del mar Panama March 2011 image 1 construction update
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- Yoo tower image Panama March 2011
Yoo tower image Panama March 2011 construction progress update
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- Waters Panama March 2011 (2)
Waters Panama March 2011 (2) construction update
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- Arts Tower image Panama March 2011
Arts Tower image Panama March 2011
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- White Tower (1) Panama March 2011
White Tower (1) Panama March 2011
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- Yacht Club image 2 Panama March 2011
Yacht Club image 2 Panama March 2011 construction progress
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- Waters Panama March 2011
Waters Panama March 2011 construction update
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- Villa del Mar Panama March 2011
Villa del Mar Panama March 2011 construction update
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- Rivage Tower image Panama March 2011
Rivage Tower image Panama March 2011
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- Rivage Tower Panama March 2011
Rivage Tower Panama March 2011 construction update
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- Yacht Club image Panama March 2011
Yacht Club image Panama March 2011 construction progress
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- White Tower image Panama March 2011
White Tower image Panama March 2011 construction update
Want to know more? Contact us or browse our Avenida Balboa real estate listings.
Great info, thanks much for publishing this, Kent!
Now that Sam Talifero has passed, I have even less of a line into day-to-day Panama, so your site is appreciated.
Also, nice to hear your giving a crack at an MLS– seems an opportunity ripe for the picking.
It is an honor to be in the same mention as the great Sam Talifero. He was an insightful man and will be sorely missed. Thanks for your kind words.
I too appreciate this type of Data reporting. Sam was a good friend and great Conservative advocate for Panama. I miss our conversations and his blog.