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Thursday, September 02 2010 @ 11:37 AM EDT

"Real Estate Prices Have Not Gone Down"

Real Estate By MARY TRINY ZEA for La Prensa - If you are waiting for real estate prices to drop due to the global economic crisis, you should know that prices are not coming down, and some sellers are even raising their asking prices. “I would not say prices have fallen; there are fewer buyers," said Wilson Ruiz, the Vice President of the Panamanian Association of Real Estate Agents and Promoters (Acobir.) Lower demand has caused "the buyers want to negotiate more," said Wilson, but this is not necessarily reflected in prices, but with offers of cruises, cars, and other incentives. The office of Economic Subjects of the Chamber of Commerce, Industry, and Agriculture of Panama (CCIAP) reported that the price per square meter on Ave. Balboa and San Francisco has dropped between 15% to 20% from 2008 to 2009 as a "product of the crisis." Manuel Ferreira, who is in charge of this office, said their report was based on information provided to them by real estate companies. “The companies negotiate with the buyers, depending on the size of the purchase, if it has financing, or other strengths," he said.

‘Precios del mercado inmobiliario no han bajado’

Acobir niega que los precios de los proyectos se hayan abaratado. La Cámara de Comercio indica que las empresas sí han reportado una baja.

acuerdo. El precio baja según la negociación con el cliente, por su tipo de compra y financiamiento: CCIAP LA PRENSA/Gabriel Rodríguez

MARY TRINY ZEA mzea@prensa.com

Si usted estaba esperanzado que los precios del mercado inmobiliario bajaran por la crisis, sepa que estos no han disminuido, e incluso algunos se atreven a decir que subirán.

“No diría que los precios han bajado; ha disminuido la cantidad de clientes”, dijo Wilson Ruiz, vicepresidente de la Asociación Panameña de Corredores y Promotores de Bienes Raíces (Acobir).

La caída de la demanda ha provocado “que los clientes quieran negociar más”, señaló Wilson, pero esto no necesariamente se refleja en precios, sino con ofrecimientos de cruceros, carros, y otras ofertas.

La dirección de Asuntos Económicos de la Cámara de Comercio, Industrias y Agricultura de Panamá (CCIAP) reportó que el precio del metro cuadrado en la Avenida Balboa y San Francisco bajó 20% y 15% de 2008 al 2009 “producto de la crisis”.

Manuel Ferreira, encargado de la dirección, dijo que se basaron en información proporcionada por empresas de bienes raíces.

“Las compañías negocian con los clientes, dependiendo del tamaño de la compra, si tiene el financiamiento y otras fortalezas”.   

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"Real Estate Prices Have Not Gone Down" « Panama Land For Sale Blog
[...] con los clientes, dependiendo del tamaño de la compra, si tiene el financiamiento y otras fortalezas. Read More… [Source: Panama Guide - Posted by FreeAutoBlogger] Share and Enjoy: This entry was posted on Tuesday, January 12th, [...] [read more]
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"Real Estate Prices Have Not Gone Down" | 2 comments | Anonymous Logout
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"Real Estate Prices Have Not Gone Down"
Authored by: Rusty on Sunday, June 28 2009 @ 12:11 PM EDT
Quote: “I would not say prices have fallen; there are fewer buyers," said Wilson Ruiz, the Vice President of the Panamanian Association of Real Estate Agents and Promoters (Acobir.)

Obviously this guy knows a lot about supply and demand. If you agree with this guy's logic and you are trying to sell-off your property...give his logic a shot and see what happens. With fewer prospective buyers coming along....keep your price high and see what happens when your competitor lowers his priced to attract that one nervous buyer who "really...really" wanted to pay your higher asking price.

Then read the next article above (written by Don Winner). He seems to report that sellers are lowering their prices...alas, the Panamanian sellers exclaim (paraphrased), "not because of a falling economic market, but because we just want to get rid of the last remaining units (you know, no fuss...no muss)."

This brings to mind one of my childhood favorite quotes..."pay no attention to that man behind the curtain (pulling the levers), for I am the powerful and great Wizard of Oz."

Rusty

"Real Estate Prices Have Not Gone Down"
Authored by: Rusty on Sunday, June 28 2009 @ 12:17 PM EDT
One minor correction. The article above wasn't written by Don Winner, he only posted it on this website. Both articles were written By MARY TRINY ZEA for La Prensa.

Thanks.

Rusty