The search for a home is a challenge that continues to be assumed

The real estate market started in 2024 with great enthusiasm, despite restrained forecasts about the behavior of the economy for this year.

Builders and banks are trying to get closer to the capacity of clients who are looking for the best offers according to their income to get their own real estate through a mortgage loan.

At the real estate fair organized by the Panama Association of Real Estate Brokers and Promoters – Acobir-Jeanizeth, A 45-year-old mother and grandmother, she decorated her home in Čep, in order to fulfill her dream of owning a house.

His salary does not reach $600 so he was lucky to find a promoter who was in line with his financial capabilities.

He told us that there wasn’t much at the fair, but he managed to get a credit code National Bank of Panama, whose letter is cheaper than the rent he pays.

“I live in an apartment and pay almost what’s going to get me out of here, but the difference is this is going to be mine,” he said.

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23

percent real estate sector grew in 2022. Data for 2023 is still expected.

1

There are one million and 201,809 homes in the country, according to the population census conducted at the beginning of 2023.

Employed woman, she will work for three years, after her period was unemployed during the pandemic. She works in the maintenance and general services of the clinic, and with what she earns, she decided to look for an affordable house, since she is a single mother.

At the same fair, Sharilyn (32) admits that the bank turned her back on the mortgage because she was never the subject of a loan.

“Because I had no credit because I had no history. – It was very difficult for me when the bank rejected me.commented a young woman who currently lives with her grandmother.

Like Jeanizeth, the pandemic left her without a job and Only when he finished could he go back to work.

His income is $700 so he was aware that the house he can aspire to will not be big, but after a year of searching, He stated that at least there are promoters who accept low wages.

Manuel, a 40-year-old father, appeared from another reality show good luck in the construction sector, working on projects big ones like the metro and the Canal extension, among others.

With an income of more than a thousand dollars, he was preparing, on the one hand, for get your own house and, on the other hand, stop living in the west and move to the capital, either north or east.

“I live in the west, but I want to leave there because of the problems with traffic and water. There will be progress with Line 3, but no one is showing signs of life from the water,” he said..

On the cusp of achieving permanency in his business, he said he has been looking for a home for a year, having grown tired of living as a tenant, so he decided to look for projects that qualify for an income of $800 and have solidarity fund of the Ministry of Housing.

Incentives

Banks like Štedionica have they decided to continue with popular sectors with financing terms of 35 years, interest stability and up to a thousand dollar bonus aimed at covering legal and closing costs.

The second bank in the country in terms of mortgage loans, its manager, Juan Melillo Uribe, told this media that after a record year with more than 325 million dollars in loans, they decided to come in 2024 with the goal of a year of growth.

“As part of our DNA, we continue with the social and preferential sectors, however, we have clients new, higher ranges, with an interest in transferring mortgages,” reported the manager.

He emphasized that they did more in 2023 companies with fewer operations.

“That tells you that we had a breakthrough in whatmost items,” Melillo pointed out.

As the conclusions of the first National Urban Forum Panama 2023, held in the middle of last year, recommendscreated the conditions for the availability of housing finance in its rates, locations and requirements.

Furthermore, informal settlements require access comprehensive and participatory, so that they can generate solutions.

According to the last population census, of the number of homes in the country, 18% are mortgaged (217,227), while 13% (157,657) are rented. The majority (763,183), which is equivalent to 63.5%, are their own.