WHETHER you are buying or selling a home, access to closed sales data is a valuable tool. But finding it in Panama has been, until now nearly impossible.
In an effort to fill the information gap and bring more transparency to the market, last year several leading real estate agencies leveraged their membership in the Panama Association of Realtors (ACOBIR) to create an ongoing reporting system in which closed sales are documented and logged into a public database:
Panama Equity, one of the innovators of the program has announce that the database now has over 100 verified closed sale transactions and more city-based transactions ar being added on a regular basis,
“While this represents a very small portion of the properties being sold in Panama as a whole”, says Kent Davis of Panama Equity “it’s proven to be a tremendously helpful reference for sellers trying to get a sense of how to price their property and buyers wanting to know what properties are actually selling for.” The data comes in an Excel sortable format, and includes elements like the age of the property, neighborhood, size, and price per square meter of the property sold. Access to the database is currently free.
The agency welcomes anyone who has recently closed a property in the city to share the information.